The general assembly meeting took place in Brussels on 30 June.
Willaert said: “I am honoured to be asked by my colleagues to serve another term as president of FERMA. We have an unusual number of new board members this year"
"They bring remarkable experience and expertise to the board that will support FERMA as we develop our work on key issues such as cyber risks, captives and base erosion and profit shifting (BEPS), environmental liability, Brexit and the future of the EU. They will contribute to risk leadership in Europe.”
FERMA recently released guidelines for captive insurance and reinsurance arrangements to ensure a consistent implementation of the Organisation for Economic Co-operation and Development’s (OECD) recommendations on BEPS.
The recommendations cover three areas: commercial rationale, substance and governance, and transfer pricing—all areas that were questioned by OECD members during the implementation stage of the BEPS actions published in 2015.