PwC’s 29th Global CEO Survey has revealed that just 46% of insurance CEOs are confident about their company’s prospects for revenue growth over the next 12 months, an 18% dip from 56% in 2025.
The company’s latest CEO survey is based on responses from 4,454 CEOs across 95 countries and territories, and is useful way to gauge the sentiment of leaders across various industries.
About 30% of CEOs across all industries in the survey are confident about revenue growth in 2026, the lowest level in five years, compared with 38% in 2025 and a high of 56% in 2022. This is due to most companies struggling to turn AI investment into tangible returns.
Despite widespread experimentation, only 12% CEOs say AI has delivered both cost and revenue benefits. Additionally, business leaders are also grappling with rising geopolitical risk, intensifying cyber threats, and a constant need for reinvention, according to the report.
Overall, 33% report gains in either cost or revenue from AI, while 56% say they have seen no significant financial benefit to date. Around 42% cite the increasing pace of technological change as a concern, as they are uncertain if companies are able to match this. There are 29% in the group who cite innovation capability or medium to long-term viability as concerns.
The report stated, “The survey points to a growing divide between companies piloting AI and those deploying it at scale. CEOs reporting both cost and revenue gains are two to three times more likely to say they have embedded AI extensively across products and services, demand generation, and strategic decision-making.”
Additionally, organisations that have established strong AI foundations are three times more likely to report meaningful financial returns. Separate PwC analysis shows that companies applying AI widely to products, services, and customer experiences achieved nearly 4% higher profit margins than those that did not.
Furthermore, CEO confidence has softened further amid rising exposure to external risks. About 20% CEOs globally cite tariffs as a risk that their companies are exposed to in 2026, though exposure varies widely by region. In the Middle East, it is 6%, 28% in the Chinese Mainland, 35% in Mexico, and US CEOs report high exposure of 22%.
Cyber risk has also risen sharply, with 31% of CEOs now citing it as a major threat, up from 24% last year and 21% two years ago. In response, 84% say they plan to strengthen enterprise-wide cybersecurity as part of their response to geopolitical risk.
Other risks that went higher were macroeconomic volatility (31%), technology disruption (24%), and geopolitics (23%), while concern about inflation is marginally down (from 27% last year to 25%).
According to the CEOs, reinvention has become essential to growth, with around 42% starting to compete in new sectors over the past five years. Among those planning major acquisitions, 44% expect to invest outside their current industry, with technology the most attractive adjacent sector.
Additionally, 51% CEOs plan to make international investments in 2026. The top three destinations ranked by the CEOs make the US first with 35%, followed by the UK and Germany, both at 13%, and the Chinese Mainland at 11%.
It should be noted that interest in India has nearly doubled year-on-year, with 13% of CEOs planning international investment, placing it among their top three destinations.
Only yesterday, reinsurance industry giant, Swiss Re released a report, forecasting mid-term annual premium growth of 6.9% between 2026 and 2030, positioning the country as the fastest-growing major insurance market worldwide.
Arthur Wightman, Territory Leader, PwC Bermuda, commented, “Business leaders face a challenging year ahead, with growing concerns over volatility, cyber risk, and geopolitical tensions. Despite short-term uncertainty, our survey of global CEOs finds they remain focused on long-term transformation — driving innovation, investing in AI, and entering new sectors to navigate the shifting global economy. Of note, among CEOs pursuing major acquisitions in the next three years, 44% plan to do deals beyond their current sector or industry.”
