Stora Enso Risk Management Profile

RISK MANAGEMENT PROFILE

STICK TO THE BASICS

Renewable materials company Stora Enso is the largest pulp and paper manufacturer in Europe. Sami Silvennoinen (center), Lars Andersen (left) and Elina Rosenfeld (right) oversee the risk management program for the company’s Consumer Board, Packaging Solutions, Biomaterials, Wood Products and Other divisions. Here, the team shares the risk management wisdom that has strengthened their strategy for sustainable, profitable growth.

ELINA ROSENFELD Risk and Insurance Specialist, Helsinki, Finland Responsible for Insurance Procurement and Claims Management

SAMI SILVENNOINEN Head of Risk Management, Helsinki, Finland Responsible for Risk Assessment

LARS ANDERSEN Technical Risk Manager, Skutskär, Sweden Responsible for Loss Prevention, Security and Business Continuity

Stora Enso

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Risk Assessment

Risk Transfer

Risk Prevention

Risk Recovery

“We need innovative, clever tools that allow us to predict risk and minimize uncertainty.” – Sami Silvennoinen

“Our risks are very well-defined. This helps us understand what we can carry on our own and where we need help from an insurance partner.” – Elina Rosenfeld

“By working directly with FM Global, we keep everything in our own hands and have a direct line of communication with the company’s underwriters, risk engineers and claims people.” – Elina Rosenfeld

“FM Global’s engineers are well-trained, spend a lot of time analyzing our risks, and speak the local language at our mills. This makes a big difference when preventing loss all over the world.” – Lars Andersen

When we began looking for a new insurance carrier, we knew we wanted a global player who could support our sites around the world. We value FM Global’s multiple language skills, standards and risk engineering—particularly their knowledge of boiler and machinery hazards and how to mitigate them. This competency was lacking among the Nordic insurance providers when we ultimately decided to work with FM Global in 2017. It’s a benefit we can’t find anywhere else.” – Lars Andersen

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Boiler and Machinery

Predictive Analytics

Cyber Resilience Solutions

Nat Haz Toolkit

The Business Impact of Climate Change

See how Stora Enso partners with FM Global to manage its boiler and machinery risk.

KNOW YOUR RISKS

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MAKE AN IMPACT

Asset and Supply Chain Vulnerabilities

Cyber Threats

Extreme Weather Events

Global Warming

Cyber Threats

Global Warming

With operations in more than 35 countries, Stora Enso considers the exposures associated with the production and transportation of goods worldwide.

The business needs to prevent attacks that may cause a loss or impact its products and assets to the point of business interruption.

As a global organization, Stora Enso expects to see more extreme weather events in the future, particularly in the Nordics.

Packaging buyers are turning away from plastic, aluminum and glass products, which presents the opportunity for Stora Enso to offer alternatives.

Spread your risk management approach and philosophy to operations personnel, all the way up to senior management and your board of directors.

Have a structured way of assessing, reporting and monitoring risks.

Use robust systems to assess risk, manage incidents, investigate losses and understand their financial impact.

Take what you’ve experienced and adjust or modify your risk management activities.

Sell In

Implement an Enterprise-Wide Process

Sell In

Implement an Enterprise-Wide Process

Embrace Technology

Learn from Losses

The equipment at Stora Enso’s 890-acre (360-hectare) Imatra Mills spans six miles (9.66 kilometers) of Lake Saimaa’s southern shoreline in Imatra, Finland, a city east of Helsinki. The strengths and weaknesses of each piece of equipment are of prime focus for the risk management team’s overall risk assessment.

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Tap to learn about the top risks Stora Enso keeps tabs on.