MAPFRE Global Risks, present at FERMA Forum 2024

The Federation of European Risk Management Associations (FERMA) holds this biennial every two years, and it took place in Madrid this time, a place where multinationals, insurance companies and brokers met to discuss the latest trends, challenges, and opportunities in risk management.

In 2024, as FERMA celebrates its 50th anniversary, MAPFRE Global Risks has been one of the Forum’s sponsors. The event afforded a brilliant opportunity to share the Unit’s new strategic initiative with the entire European market: providing solutions to multinationals based in Europe, United States and Canada with interests in Latin America. Under the “Your best partner in Latin America” claim, the MAPFRE Global Risks stand has become the meeting point for senior executives and experts in the Unit with clients and brokers, boosting the development of International Programs, Specialty Lines (Aviation, Construction, Energy, Maritime and Mining), Damages and TPL (P & C), and Captives and Global Employee Benefits.

Across 50 simultaneous speeches and roundtables held on Monday and Tuesday at IFEMA pavilion 7, key discussions centered around vital topics such as strengthening business resilience when facing natural disasters, advancing sustainability initiatives and harnessing technological innovation to fend off cyberattacks, the captive insurance business, etc.

Ana Pedrouzo, Senior Property Underwriter for Mining & Steel, took part in the panel discussion named Towards Decarbonization: Risk Challenges and Lessons from The LATAM Mining Industry”, which took place on the main stage, together with Guilio Valz-Gen, CEO of Howden Peru, Ernesto Balarezo, CEO of Sierra Metals, and Juan Carlos Miljanovich, Chief Financial Officer of Summa Gold Corporation.

Pedrouzo shared an insurance company’s point on view on underwriting the mining sector in Latin America, where a high level of exposure to mining activity demands very technical underwriting and, where due to limited capacity, companies in the sector “have had to professionalize their risk management.” She also mentioned the ESG criteria: “We’re noticing that mining companies are enhancing their ESG practices, not just for the sake of reputational advantages, but as a fundamental cog in their risk management and insurance strategy machine.”

To conclude, Pedrozo stated: “As insurance professionals, we must constantly anticipate, innovate and adapt our services to meet the rapidly changing needs of the mining sector. In doing so, we can play a vital role in supporting sustainable development not just within the mining industry, but across society as a whole.”

Every single moment of the FERMA Forum 2024 was filled with a spirit of collaboration and connection as industry professionals gathered. MAPFRE Global Risks’ participation in these events undoubtedly strengthens its position as a benchmark in managing major risks.