1 in 3 Singapore business leaders report political risk as the biggest threat to their firms

SINGAPORE: A recent report quotes business leaders saying political risk is the current top threat to their firms.

Beazley’s Geopolitical Risk Snapshot 2024 commissioned a survey of more than 3,500 business leaders and insurance buyers of businesses with international operations in the UK, US, Canada, Singapore, France, Germany, and Spain earlier this year, publishing the survey’s results on April 25. “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,” the report reads.The report cited tensions in the Middle East, the war in Ukraine, and potential government changes in Western democracies as among the political risks business leaders are concerned about.

Among the respondents from Singapore, over two in five believed their current business environment is high-risk.

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