ARIMA, the former peak body for risk management professionals, and the Australasian Institute of Risk Management (AIRM) have merged to become the Risk Management Institution of Australasia (RMIA).

Members of both organisations voted late last year to go ahead with the merger, and the process has now been ratified by the Supreme Court of Tasmania in accordance with Corporations Law requirements.

ARIMA was formed in 1975 and incorporated in 1977. Before 2000, its members represented corporate entities but later voted to change the rules to admit individual members. AIRM, the educational and professional development organisation for the risk management sector, was established in 1987.

Former ARIMA president and now RMIA President Brad Greer says the new body will provide a greater focus on the important role risk management plays in society, and the development of the knowledge and skills required to advance its practice.

“We will be better able to harness the limited resources of a single non-profit body to ensure more member services and professional development through RMIA,” he said.