Global business leaders are entering a more volatile competitive landscape as geopolitical divisions, technological disruption and societal strains intensify, according to senior executives from Zurich Insurance Group and Marsh commenting on the World Economic Forum’s Global Risks Report 2026.
The report identifies geoeconomic confrontation, state-based armed conflict, extreme weather, societal polarisation, and misinformation and disinformation as the top immediate risks for 2026. Misinformation and disinformation, along with societal polarisation, climbed to second and third place respectively in the two-year outlook, underscoring growing concern over social cohesion.
“Deepening divisions are at the center of the societal risks we all now face, from social fragmentation and inequality, to declining health and wellbeing,” said Andrew George, President, Specialty, Marsh Risk, adding that governments were moving away from established frameworks designed to address shared global challenges.
Looking further ahead, the report points to the emergence of a new age of global competition, with business leaders expecting nearly all identified risks to worsen over the next decade. Around 57% of respondents anticipate a turbulent or stormy outlook over the next ten years, with environmental and technological risks dominating the long-term horizon.
Alison Martin, CEO Life, Health and Bank Distribution at Zurich, said business leaders were increasingly worried about pensions and public health, warning that gaps in social protection threaten workforce wellbeing and social stability.
The report also highlights critical infrastructure as a major vulnerability, exposed to threats ranging from extreme weather to cyberattacks and disruptions to undersea cables and satellites. Despite this, infrastructure disruption ranks only 23rd among long-term global risks.
“This is a dangerous oversight,” said Peter Giger, Group Chief Risk Officer at Zurich, noting that underprepared and underfunded systems could amplify the impact of future crises.
Advances in artificial intelligence and quantum computing are also expected to reshape labour markets, geopolitics and economic structures, prompting calls for closer collaboration between governments and businesses to manage systemic risks and digital trust.
