Allianz SE

01/14/2026 | Press release | Distributed by Public on 01/14/2026 07:56

Allianz Risk Barometer - Identifying the major business risks for 2026

  • Cyber risks by far the biggest concern for companies
  • In 2026, cyber incidents is the top global risk for the fifth year in a row, with its highest-ever score (42% of responses), and by a higher margin than ever before (+10%). It ranks as the main corporate concern in every region (Americas, Asia Pacific, Europe, and Africa and Middle East). The continued presence of cyber at the top of the Allianz Risk Barometer reflects a deepening reliance on digital technology at a time when the cyber threat landscape, and geopolitical, and regulatory environments, are fast evolving. Recent high-profile cyber-attacks underline the continuous threat to businesses of all sizes. Smaller and mid-sized enterprises are increasingly targeted and under pressure due to a lack of cyber security resources.
  • AI creates emerging risks as well as new business opportunities
  • AI has surged into the top tier of global business concerns, rising to #2 (32%) in 2026 from #10 in 2025 - the biggest jump in this year's ranking. It is a big mover in all regions - ranked #2 in the Americas, Asia Pacific, and Africa and the Middle East, and #3 in Europe - and is a growing risk for companies of all sizes too, moving into the top three for large, mid-sized and smaller firms. As AI adoption accelerates and becomes more deeply embedded in core business operations, it becomes a complex source of operational, legal, and reputational risk for businesses. Still, close to half of respondents believe AI is bringing more benefits to their industry than risks. However, a fifth says the opposite. The rapid spread of generative and agentic AI systems, paired with their growing real-world use, has raised awareness of just how exposed organizations have become.
  • Business interruption strongly connected to geopolitical risks
  • 2025 marked a shift towards protectionist trade policies and tariff wars that brought uncertainty to the world economy. It was also a year of regional conflicts in the Middle East and Russia/Ukraine, as well as border disputes between India/Pakistan and Thailand/Cambodia and civil wars in Africa - a trend which continues in 2026 with the US intervention in Venezuela. Geopolitical risks are putting supply chains under increasing pressure, but as risks rise, just 3% of Allianz Risk Barometer respondents view their supply chains as "very resilient". In the past year alone, trade restrictions have tripled to affect an estimated US$2.7trn of merchandise - nearly 20% of global imports according to Allianz Trade - fueling companies exploring trends such as friendshoring and regionalization. These developments lead to a high-risk perception - 29% of respondents rank business interruption as a top peril, placing it at #3, although it drops a position year-on-year.
  • Unsurprisingly, political risks and violence climbs two places to #7, its highest-ever ranking. The closely linked risk of changes in legislation and regulation - which includes trade tariffs - ranks #4 globally, unchanged year-on-year but with an increase in respondents, driven by concerns over growing protectionism. In fact, global supply chain paralysis due to a geopolitical conflict ranks as the most plausible "black swan" scenario likely to materialize in the next five years, according to 51% of the respondents.
  • About the Allianz Risk Barometer
  • The Allianz Risk Barometer is an annual business risk ranking compiled by Allianz Group's corporate insurer Allianz Commercial, together with other Allianz entities. It incorporates the views of 3,338 risk management experts in 97 countries and territories including senior managers, risk managers, brokers, and insurance experts. It is being published for the 15th time.


Allianz SE published this content on January 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on January 14, 2026 at 13:56 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]