Just 15% of risk professionals in the UK have confidence in the Government’s ability to mitigate and address geopolitical instability.

This is amongst the findings of Axa’s latest Future Risks Report, which points to heightened concern about geopolitical risks and their knock-on effects on security, financial and energy markets, and cyber security.

The report, published today, explores the perceptions and concerns of both risk professionals and the general public. This year’s report, Axa’s 11th edition of the annual survey, reveals that 77% of risk professionals and 55% of the general public in the UK believe that risks are becoming increasingly interconnected. Climate change remains the most prominent concern for both groups in the UK.

When asked about limiting future risks, 72% of risk professionals and 40% of the general public said they trusted the insurance industry’s ability to mitigate the consequences of future world crises.

“As we navigate an evolving and complex risk landscape, the role of the insurance industry becomes even more important in ensuring a secure future for society,” said Tara Foley, CEO of Axa UK and Ireland. “Axa is committed to leveraging our expertise and solutions to address the challenges ahead. We are working alongside our stakeholders to build a resilient framework that safeguards the prosperity and security of our customers and partners.”



Top Ten Future Risks (Source: Axa)

Some 3,012 risk professionals, and 19,003 members of the public from 50 countries were interviewed for the report. Of those, 222 practitioners and 1,000 individuals were from the UK.

For UK risk professionals:

1. Climate change
2. Geopolitical instability
3. Cyber security risks
4. Risks related to AI and big data
5. Social tensions and movements
6. Natural resources and biodiversity risks
7. Energy risks
8. New security threats and terrorism
9. Pandemics and infectious diseases
10. Financial stability risks

For the general public in the UK

1. Climate change
2. New security threats and terrorism
3. Cyber security risks
4. Social tensions and movements
5. Pandemics and infectious diseases
6. Geopolitical instability
7. Financial stability risks
8. Pollution
9. Energy risks
10. Risks related to AI and big data

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