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In an interview with Gulf Business, Willem van Wyk, senior executive officer and director for the Middle East at HDI Global, said risk management has become a board-level imperative as GCC companies extend their global reach. Van Wyk explained that treating insurance merely as a compliance checkbox is no longer sufficient amid rising complexities. He added that boards require a consolidated view of exposures, policies and claims activity to shift decision-making from reactive to strategic. This approach, according to van Wyk, directly supports better capital allocation and builds operational resilience.
HDI Global integrated its Risk Finance Department at the executive board level in July 2025, the company said in a statement at the time. The move reflects growing demand for structured and parametric solutions in risk transfer. Van Wyk’s remarks build on this strategic shift within the insurer, which maintains a focus on commercial and industrial risks worldwide.
Secureframe’s 2026 risk management statistics show that firms without board-level enterprise risk management visibility were 20 percent more likely to suffer six or more critical events.[[1]](https://secureframe.com/blog/risk-management-statistics) The World Economic Forum’s Global Risks Report 2026 draws on input from more than 1,300 experts to map interconnected threats over one-, two- and 10-year horizons. Cyber incidents emerged as the leading corporate risk that year, identified by 42 percent of respondents as the top concern.
A 2026 review of risk management figures indicates that 74 percent of executives consider embedding risk thinking into business culture a top priority. Van Wyk noted that boards must engage directly to address such priorities rather than delegate them solely to operational teams. In the GCC, this elevation aligns with accelerating international trade and diversification efforts that introduce new exposure layers.
Oliver Wyman has advocated for holistic risk frameworks that feature dedicated chief risk officers reporting to the board and improved quantification of aggregate exposures. The consultancy found that many organisations still lack forward-looking tools to handle compounding risks from geopolitical tensions, climate change and technological disruption. Van Wyk’s perspective from the Dubai office, opened in 2024, emphasises tailored insurance products that complement these strategic oversight practices.
With over three decades in the insurance sector, van Wyk has observed the evolution of risk functions from tactical to C-suite concerns. HDI Global, part of a larger group offering liability, property and cyber coverage, continues to expand its regional presence to meet demand for comprehensive risk solutions. The executive’s comments underscore the competitive necessity for GCC boards to treat risk management as integral to long-term planning.
