Small but mighty

Small domestic markets may create unique challenges for Nordic risk managers, but those individuals are tackling each issue with gusto and creativity. In this first annual edition of Nordic Risk, Risk staff look at just why the region has such a reputation for innovation. Introduction

The Nordic region – which encompasses Norway, Sweden, Finland, Iceland and Denmark – is a rather amazing anomaly from a risk management perspective. The region is home to just 24 million people and covers an area the size of Texas plus California – much of it in or near the Arctic Circle. For comparison, the state of California by itself has nearly 35 million people. In so small and thinly populated a region, it would be easy to assume risk management practices and derivatives markets are