The origin

The first risk management conference was held in Singapore in 1986, under the sponsorship of the Risk and Insurance Management Society (RIMS) of America, the oldest and biggest risk management organisation in the world. This spurred some risk management professionals who attended the conference to hold a forum in 1987 to gauge the reception of forming a similar association in Singapore. The forum was well attended by risk managers, insurance brokers, underwriters and others.

Shortly after the forum, a two-day risk management seminar was organised for the Housing and Development Board (HDB). Encouraging feedback and endorsement received from the participants confirm the need for a risk management association to be formed in Singapore. The Risk and Insurance Management Association of Singapore (RIMAS) was officially registered on 18 April 1988.

First RIMAS Conference

RIMAS organised the inaugural Asia-Pacific Risk Management Conference and Trade Exhibition on 2-4 November 1998. Over 100 delegates from over 20 countries attended the event. Mr. Law Song Keng, Insurance Commissioner of Singapore at that time inaugurated the conference and Mr. Richard Heydinger, past President of RIMS delivered the opening address.

Soon after RIMAS was established, similar risk management associations were set up by other countries in Asia, Pacific and Africa. The Federation of Asia, Pacific & African Risk Management Organisations (FAPARMO) was formed in 1995 to co-ordinate the activities of these associations. Among other things, FAPARMO organises a Biennial Risk Management Conference for the Asia, Pacific & African regions on a rotational basis.