Geopolitical conflict and the global insurance market – lessons for South African insurers and reinsurers
17 March 2026
The global insurance market has entered a period of unprecedented complexity. Geopolitical conflict, once regarded as a peripheral risk confined to specialist underwriters and political risk markets, has migrated to the centre of mainstream insurance concerns. The wars in Ukraine and the Middle East, escalating tensions in the Persian Gulf, the direct military confrontation between the United States and Israel against Iran, and the ripple effects of sanctions regimes have collectively redrawn the risk landscape for insurers across multiple lines of business.