Connecting, influencing and empowering risk managers key to FERMA’s strategic objectives

Brussels, 28 June 2024

FERMA’s commitment to connecting, influencing and empowering the risk management community will provide the foundations upon which it will deliver on its strategic priorities for 2024-2025, Charlotte Hedemark, President of FERMA, told attendees at its General Assembly in Brussels.

Speaking at her first General Assembly as President, Hedemark highlighted how FERMA’s new motto “Anticipating Change, Shaping the Future” sums up its ambitions, telling attendees: “FERMA will continue to amplify the role of risk management, leveraging the expertise of its member associations to drive a culture of risk awareness and proactive risk management.”

She added: “We will continue to strengthen our standing as a strong counterpart to the European institutions, enabling the risk management community to shape policies in vital areas such as climate, digitisation, and financial services. And we will continue to enhance the platform of collaboration that FERMA provides, bringing together multiple different stakeholders all committed to promoting the leadership credentials and expertise of the European risk management community.”

Priorities for 2024 and Beyond

Outlining recent activities and plans moving forward around FERMA’s three strategic priorities – expanding its advocacy capacity, establishing leadership and emphasising value, and being an agile and dynamic federation – Hedemark focused on several developments.

On the advocacy front, she noted FERMA’s role in facilitating the introduction the new category of “small and non-complex undertaking” in the recently adopted amendments to Solvency II, describing this as a “significant development” for captives and “a big step forward”.

She spoke about FERMA’s advocacy efforts around cyber risk, saying it is developing a positioning paper on systemic cyber risks and cyber war, and involved in market dialogue on an EU-level solution to the systemic challenge. On climate change, Hedemark flagged FERMA’s role as co-rapporteur of the climate resilience dialogue group, as well as its ongoing work to provide guidance on the Corporate Sustainability Reporting Directive.

Looking further ahead, she added: “To expand our advocacy capacity, we are exploring ways to extend our network, to strengthen existing partnerships and build new ones, both within the risk and insurance sectors and beyond. This creates more opportunities for collaboration and for joined-up thinking – which helps to strengthen our voice at the European level.”

Commenting on efforts to cement FERMA’s position as a risk leader, Hedemark informed attendees of the first meeting of the FERMA Foresight Committee in June, describing it as an innovative approach to “the way we think about our expertise and seek to gain a vision on future risks and opportunities”; as well as the launch of the ERM Committee, which she said is set up to “empower risk managers and give them access to more knowledge, tools, resources and best practice to support their ERM efforts.”

As FERMA prepares for its Forum “Join the Risk Revolution” in Madrid in October, Hedemark described the theme as one which “reflects the speed of change of this new era of risk, and its scale, complexity and connectivity.”

The General Assembly also provided the platform for Hedemark to announce FERMA’s Seminar 2025 which will take place in Zurich on 23-24 October 2025. The theme is “Value Chain Risk Management” – an area she described as “extra pertinent in the context of the interconnected and permacrisis reality of today’s business world.”

This year, FERMA celebrates its 50^th anniversary, a milestone that it has marked with the development of a new visual identity for the Federation, including a logo which is “a symbol of unity and progress, and a reflection of our dynamic, collaborative spirit.”

That collaborative approach Hedemark noted was more important than ever to FERMA’s efforts to me more agile and dynamic, outlining how FERMA is committed to exploring new ways to increase dialogue with its member associations.

“Since 1974, FERMA has been the beating heart of European risk management, uniting professionals, advocating for best practices, and sparking innovation,” she concluded. “As we celebrate our half-century, our commitment to shaping the future of risk management burns brighter than ever. This is just the beginning – here’s to another 50 years of growth, innovation, and impact!”

Hedemark also led a minute’s silence during the General Assembly to remember two key members of the FERMA family. Jorge Luzzi, a former President of FERMA and Gilbert Canameras, a former Secretary General of FERMA, President of Amrae, and Founder of Club Francorisk, both passed away in recent months.

Board Elections

The General Assembly also announced the election of Daniele Zucchi and the re-election of Laurence Eeckman to the FERMA Board.

Hedemark added: “The depth and breadth of risk management expertise represented by the FERMA Board is unparalleled. Their decades of experience in the risk arena provides the Federation which an incredibly robust platform of knowledge from which to continue to represent the risk management associations at the European level and bolster the standing of the risk management profession.”

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FERMA, General Assembly, election, risk, Hedemark