The ACPR has temporarily prohibited Wakam from underwriting new contracts and renewing existing ones. This decision may have consequences for several offers distributed by brokers and partners. Does your contract remain valid? What happens at its next renewal date? KT ASSURANCE provides an update.
Since the end of September 2026, the situation at Wakam has been the subject of much discussion in the insurance sector.
The French Prudential Supervision and Resolution Authority (ACPR), which is notably in charge of supervising insurance organizations in France, has taken a protective measure against Wakam SA.
The company is temporarily no longer permitted to underwrite new contracts or renew existing ones.
This decision may have very concrete consequences for certain policyholders, as well as for brokers and other intermediaries distributing contracts for which Wakam is the actual insurer.
Should you be worried if your contract is insured by Wakam? Do the coverages remain valid? What will happen at the renewal date?
KT ASSURANCE provides an update on the situation.
Who is Wakam?
Wakam is a French insurance company specializing in a primarily B2B2C model.
Unlike some insurers that market their contracts primarily directly to the general public, Wakam works with many partners and intermediaries.
Its products can therefore be distributed by:
- brokers;
- wholesale brokers;
- MGAs;
- companies offering embedded insurance within their services;
- various specialized platforms.
Wakam indicates that it works with over 100 partners in Europe and operates in more than 30 European markets.
This explains why an individual or a professional may be insured by Wakam without having directly subscribed to their contract with Wakam.
Wakam may be your insurer without you knowing it
This is an essential point to understand the current situation.
When you subscribe to an insurance policy via a broker or a platform, several parties may be involved.
The broker distributes and advises on the contract.
A wholesale broker or administrator may have designed the product and handles part of its management.
But behind them is the insurance organization that actually carries the risk.
It is this insurer that legally provides the coverage stipulated in the contract.
Wakam has specifically played this role of risk carrier for many products distributed under other brands.
The name of the insurer should normally appear in your contractual documentation.
What is currently happening at Wakam?
On September 25, 2026, the ACPR took a protective and temporary measure concerning Wakam SA.
This decision temporarily prohibits the company from:
- underwriting new contracts;
- renewing existing contracts.
This is a significant regulatory measure.
However, this does not mean that Wakam has gone bankrupt or that all its contracts have just been canceled.
The company remains a licensed insurance organization and existing contracts remain in force and continue to be managed.
Why did the ACPR intervene?
The situation is primarily related to the regulatory solvency requirements applicable to insurance companies.
An insurer must maintain a sufficient level of capital relative to the risks it carries.
In its Solvency and Financial Condition Report for the 2025 financial year, Wakam SA reported a Solvency Capital Requirement (SCR) coverage ratio of 66% as of December 31, 2025, which is below the required regulatory level.
Its Minimum Capital Requirement (MCR) coverage ratio was 150% at the same time.
Wakam attributed this situation in particular to exceptional accounting cleanup operations and the adoption of prudent assumptions regarding certain receivables.
The company had initiated a remediation plan and indicated that a recapitalization of 34 million euros completed in March 2026 had allowed it to return above regulatory requirements.
Nevertheless, the situation led the ACPR to intervene again in September 2026.
Is my Wakam contract still valid?
Yes, if your contract is currently in force, the decision does not mean it is automatically terminated.
This is likely the most important point for policyholders.
The prohibition imposed concerns the underwriting of new business and the renewal of existing commitments.
Contracts currently in effect therefore continue to be valid until their expiration date under the stipulated conditions.
You should not assume that you are suddenly without insurance simply because Wakam is the risk carrier for your contract.
Do claims continue to be covered?
Current contracts continue to be managed.
If you experience a covered loss during the validity period of your contract, you should continue to report it normally to the contact person indicated in your contractual documents.
Wakam, moreover, specifies that the management of contracts and claims for its policyholders is generally carried out by its partners.
Therefore, keep:
- your contract;
- your special conditions;
- your insurance certificates;
- the contact details of the administrator;
- your correspondence regarding any potential claim.
The current situation should not lead a policyholder to refrain from reporting a claim that is normally guaranteed by their contract.
What will happen at the next renewal date?
This is where the situation becomes particularly important.
As long as the prohibition imposed on Wakam remains in effect, the company cannot renew the concerned contracts.
Your broker or the distributor of your contract may therefore need to find a new solution with another insurer.
In some cases, the distributor will be able to replace Wakam with another risk carrier and continue to offer a similar product.
In other situations, it may be necessary to subscribe to a different contract.
It is therefore particularly important not to wait until the last few days before your annual renewal date.
Why do some insurance offers disappear suddenly?
The Wakam situation also helps to understand a particularity of the insurance market.
Several contracts marketed under different brands can in reality be insured by the same company.
When a risk carrier suspends its underwriting, several apparently independent offers may therefore become unavailable simultaneously.
This is already visible in the market.
For example, at the beginning of October 2026, Solly Azar announced the temporary suspension of new subscriptions for several lines:
- two-wheelers;
- automobile for high-risk drivers;
- Taxi-VTC;
- cars for those without a license.
The wholesale broker directly attributes this suspension to the cessation of the marketing of offers from its partner insurer, Wakam.
This does not mean that all products distributed by all brokers are affected. You must check the risk carrier for each contract.
How do I know if my contract is insured by Wakam?
The most reliable way is to consult your contractual documents.
Look specifically for terms such as:
"Insurer", "insurance organization", "risk carrier", or equivalent wording.
The trade name of the website, broker, or administrator from whom you subscribed is not necessarily that of the insurance company.
If you have any doubt, ask your broker directly:
"Which company currently carries the risk for my contract?"
They will be able to check this information in your file.
What should you do if your contract is held by Wakam?
There is no need to panic or immediately cancel a contract that is currently valid.
However, several precautions can be useful.
Check your expiration date
The closer your expiration date, the more relevant it is to anticipate.
If it is coming up soon, contact your intermediary to find out what solution is being considered.
Do not cancel your contract without a replacement solution
A hasty cancellation can put you in a more complicated situation.
For compulsory insurance, it is particularly important to avoid any coverage gap.
Contact your broker
Your broker can verify:
- the actual insurer of your contract;
- your expiration date;
- the consequences of the Wakam situation;
- available alternative solutions.
Prepare your documents
Depending on the type of insurance concerned, certain supporting documents may be necessary to quickly find a new solution.
Anticipation facilitates the replacement of the contract.
Are all insurance contracts affected?
No.
The measure targets Wakam SA.
It obviously does not mean that the entire French insurance market is blocked.
Even when a currently distributed product uses Wakam as a risk carrier, other insurers may offer competing solutions.
The difficulty will depend, however, on the type of risk.
Some highly competitive markets have many alternative companies.
Other more specialized risks have far fewer carriers.
Replacement may therefore be more or less simple depending on your profile and the contract in question.
Can brokers find another insurer?
Yes, and that is precisely one of the roles of the broker.
An insurance broker is generally not tied to a single company.
When a solution disappears or becomes unavailable, they can search for an alternative with their other partners.
However, a new contract may have:
- a different rate;
- different deductibles;
- different coverage;
- new acceptance criteria;
- different exclusions.
Replacing a contract should therefore not consist solely of finding the closest rate.
One must also compare the level of coverage.
Why does this situation highlight the importance of the broker's role?
When an insurer or a product temporarily disappears from the market, having an intermediary capable of accessing several solutions becomes particularly useful.
The role of the broker notably includes analyzing the client's situation, identifying available solutions, and comparing contracts that meet their needs.
In the current context, this also means anticipating the expiration dates of contracts for which Wakam is the risk carrier and searching for a replacement solution when necessary.
Are you insured with Wakam? KT ASSURANCE can study your situation
Have you discovered that Wakam is the insurer for your contract and your renewal date is approaching?
Is your broker or distributor informing you that your contract cannot be renewed?
Or are you simply looking for a new solution after the suspension of a product you wanted to subscribe to?
KT ASSURANCE can study your situation and search for a solution through its partners, subject to insurers' acceptance conditions.
Since every file is different, the possibilities will depend notably on the risk to be insured, your profile, your history, and the solutions available at the time of the request.
Request a personalized study from KT ASSURANCE
If your contract is affected by the Wakam situation, do not necessarily wait until the last few days before its renewal date.
Send us your current contract as well as your renewal notice so that we can identify the risk carrier and study the available solutions.
Fill out our quote request form or contact KT ASSURANCE directly to have your contract reviewed.