Global chief risk officers (CROs) have met for the annual CRO Assembly meeting at Munich Re to discuss how to manage risks more efficiently to create sustained value.

The meeting is organised by the International Association for the Study of Insurance Economics – “The Geneva Association” – in collaboration with primary insurers and reinsurers.

Munich Re board of management Chairman Nikolaus von Bomhard welcomed the gathering of more than 80 leading risk experts from insurers and other financial service providers to Munich Re for the meeting.

“We insurers have to manage the risks we accept more efficiently in order to give our clients sustained added value,” Dr von Bomhard said.

He says if the insurance industry is successful in this, it will better meet shareholders’ return expectations.

Munich Re CRO and Head of Integrated Risk Management Charlie Shamieh says the aim has always been to make integrated risk management a cornerstone of the business. “It is the only way to turn risk into value.”