War now stands as the most feared political violence risk for 53% of companies globally. This finding comes from a new report by Allianz Commercial.
Conflicts in Europe and the Middle East are changing the global risk landscape. These conflicts disrupt worldwide trade flows and strain political alliances. They also embolden adversarial powers, increasing risks to business assets.
This fits into a broader global economic story of increasing instability and interconnected financial risks. Ghana, as an economy deeply linked to international trade, faces indirect effects. Disruptions to global supply chains can increase import costs and reduce export opportunities for Ghanaian businesses. The Allianz Risk Barometer 2026 places political risks and violence at its highest ever position, number seven.
Thomas Lillelund, CEO of Allianz Commercial, emphasized the ongoing threat. He stated, “Wars, the threat of future conflicts and other political violence activities are likely to undermine geopolitical and economic stability in 2026 and for years to come. For many companies, there is a visibility gap when it comes to vulnerabilities in their physical and digital supply chains due to such geopolitical risks.”
Businesses operating in Ghana must assess their own supply chain vulnerabilities. They should monitor global geopolitical developments closely. This vigilance will help them adapt and protect their assets and market access.
Beyond war, civil unrest ranks as the second-highest risk globally, affecting 49% of companies. Terrorism and sabotage follow closely at 46%.
Allianz Research tracked approximately 250 reported strikes, riots, and civil commotion (SRCC) events over the last five years. Pakistan recorded the most SRCC events with 11. Indonesia and countries like the US, Greece, and Iran also experienced many such events.
Economic pressures, such as rising living costs, fuel protests and strikes worldwide. Citizens demand better governance and economic reforms in many places. While most protests are peaceful, some cause significant insured losses.
For instance, Indonesian riots in August 2025 resulted in over $50 million in insured losses. Nepal's September 2025 protests could lead to over $200 million in insured losses. This exceeds losses from the 2015 catastrophic earthquake.
The financial services sector, including insurance providers in Ghana, must adjust their risk assessments. They will need to account for increased volatility. Companies need robust resilience strategies to manage these evolving threats. Identifying complex exposures in supply chains is crucial for future stability.