Socrates Coudounaris, head of risk management at Reinsurance Group of America, reviews the key ERM developments of 2022, and explains why inflationary pressure and geopolitical risks will be major threats in 2023
What was the most positive ERM development of the year?
The confidence in people's ability to do the right thing. Financial services organisations have fared well both during Covid-19 and coming out of the pandemic in 2022. I think this due to a positive 'do the right thing' mentality that our industry has shown
What was the biggest ERM disappointment of the year?
Don't really have anything here....
What emerging risks are you most concerned about?
The double-digit inflationary pressure, and more importantly when will it start to retreat and how will it behave in 2023 and beyond?
How concerned are you about geopolitical risk in 2023?
Going into 2023, geopolitical risk has become the new norm. Countries, businesses and consumers are adjusting to what it means to them locally.
What's your favourite part of the Christmas holiday season?
Putting up the Christmas tree and starting the countdown on the advent calendar, and of course the chocolate treats that pop out every day!