In this ‘year of the election’, where over half the world’s population will have the opportunity to vote, we focus on global business executives’ concerns and perceived preparedness for geopolitical risk and their apprehension around the outcome of these elections impacting their international operations and ability to invest and trade. From the unrest in the Middle East to the continuing conflict in Ukraine and potential changes of government in Western democracies, the sheer number of variables and how they will interact to shape geopolitics will test business strategies to the limit. We explore what this unpredictability will mean for businesses as they grapple with increasing political risks. We also look at the essential role of insurance in mitigating these risks and the importance of robust contingency plans.

Executive Summary

2024 will shape global politics for the remainder of the decade.

Over sixty countries go to the polls this year, more than two billion people will have an opportunity to cast their votes and countless columnists will look to predict, analyse and dissect the outcomes of these events.

For many, the results will bring positive change, while others will polarise opinion. In a time of heightened global tension and arguably, one of the most volatile political landscapes in decades, the threat of political risk and violence is high on the risk radars of global business leaders…