Commenting on the World Economic Forum’s Global Risks Report 2026, Marsh and Zurich have highlighted deepening geopolitical divides, alongside mounting technological and societal challenges, as key forces shaping the business landscape in the year ahead.
As strategic partners of the World Economic Forum and members of its Global Risks Advisory Board, Marsh and Zurich pointed to the emergence of a “new age” of global competition, noting that business leaders anticipate most of the risks identified in the report will intensify over the next decade.
According to the report, 57% of respondents foresee a turbulent next decade, with environmental and technological risks strongly dominating the 10-year outlook.
Alison Martin, CEO Life, Health and Bank Distribution at Zurich, commented, “Business leaders in major economies are deeply worried about pensions and public health. These gaps threaten both workforce wellbeing and social stability.
“Yet, it’s striking that societal risks – like declining health, lack of public infrastructure and social protections – barely register in the 10-year risk outlook, even though their effects are already reshaping our world.
“If we don’t act with urgency and collaboration, we risk ignoring the very threats that could define our future.”
Meanwhile, while geoeconomic confrontation, state-based armed conflicts, extreme weather events, societal polarisation, and misinformation and disinformation were identified by respondents as the top five immediate risks in 2026, misinformation and disinformation and societal polarisation reportedly rose to second and third place in the two-year outlook.
On this, Andrew George, President, Specialty, Marsh Risk, said, “Deepening divisions are at the centre of the societal risks we all now face, from social fragmentation and inequality, to declining health and wellbeing.
“Despite the growing severity of these global risks, major governments are moving away from many established frameworks designed to tackle our shared challenges. As a result, divided societies are being driven closer to the brink of social instability and increased conflict.”
The report also found that advancements in artificial intelligence and quantum computing will greatly impact labour markets, societal structures, infrastructure and geopolitics, and may contribute to widening global economic gaps.
“Critical infrastructure, exposed to various threats, from the cutting of undersea cables to the disruption of satellites, will also require substantial investment for modernisation,” the two firms observed.
Peter Giger, Group Chief Risk Officer, Zurich, noted, “Despite extreme weather, cyberattacks and geopolitical conflicts posing escalating threats, disruptions to critical infrastructure ranked just 23rd among global risks for the next decade.
“This is a dangerous oversight. From power grids strained by record heat to coastal cities at risk from rising seas, we rely on systems that are underprepared and underfunded. When infrastructure fails, everything else is at risk.
“We must recognise how interconnected these threats are and invest now to strengthen resilience before the next crisis hits.”
Andrew George concluded, “Advancements in AI and quantum computing are rapidly reshaping labour markets and geopolitics, with profound implications that will revolutionise individuals’ lives, enhance our health and prosperity, and shape the future of nations.
“As automation and quantum breakthroughs accelerate, government and business must work together to address the challenges created by role redundancy, economic concentration, and the potential for systemic disruptions in critical infrastructure and digital trust.”
In related news, new research from the Swiss Re Institute, part of the global reinsurer, recently stated that as the artificial intelligence boom creates new insurable asset classes and heightens liability and cyber risks, AI-driven disruption is expected to shift insurance demand rather than increase it overall.
