Wakam’s Syndicate 1347 has received Lloyd’s approval to start underwriting. As a third-party Managing Agent at Lloyd’s, Polo Managing Agency (PMA) will be managing the Syndicate, with Polo Commercial Insurance Services (PCIS) providing operational support.
“The Lloyd’s market offers significant opportunities for the Wakam brand, and we are delighted to be partnering with PMA to bring our new Syndicate to market. Wakam’s DNA and ambitions are a strong fit with Lloyd’s global footprint of licenses and ambition to bring innovation to insurance.”Wakam’s CEO & CPO, Olivier Jaillon
Wakam is a European B2B2C insurer, that creates white-label bespoke insurance solutions for more than 150 distribution partners and over 8 million policyholders, via its advanced technology platform. With a foothold in 32 countries, Wakam is a profitable insurance company, reporting a 24% average annual growth rate since 2017 and expected to exceed €600m in 2022.
The syndicate was launched with the strategic guidance of PMA under Lloyd’s Syndicate in a Box (SIAB) initiative and will operate on the Lloyd’s platform. The European insurer’s partnership with Lloyd’s paves the way for their future growth ambitions. Wakam’s new UK-based VP Chief Underwriting Officer, Karl Gray, will be the syndicate’s Active Underwriter.
“PMA is proud to be working with such a visionary, innovative company and thrilled to have been chosen as Wakam’s strategic partner for their Lloyd’s platform, underlining Polo as the partner of choice for underwriting innovation.”PoloWorks Chief Executive Officer, Simon Sykes
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