PwC’s 29th Global CEO Survey shows that only 46% of insurance CEOs are confident in their company’s revenue growth prospects over the next 12 months, down 18% from 56% in 2025.
The company’s latest CEO Survey, based on responses from 4,454 CEOs in 95 countries and territories, is an effective way to gauge the sentiment of leaders across industries.
About 30% of CEOs across industries surveyed are confident in revenue growth in 2026, the lowest level in five years, compared with 38% in 2025 and as high as 56% in 2022. That’s because most companies are struggling to turn their AI investments into tangible returns.
Despite extensive experimentation, only 12% of CEOs say AI delivers cost and revenue benefits. In addition, business leaders face rising geopolitical risks, heightened cyber threats and the constant need to innovate, the report said.
Overall, 33% of respondents reported increased costs or revenue from AI, while 56% said they had not seen significant economic benefits to date. Some 42% of respondents cited the increasing pace of technological change as a concern because they were unsure whether their companies would be able to keep up. 29% of this group expressed concerns about innovation capabilities or mid- to long-term viability.
The report states, “Surveys indicate a growing gap between companies piloting AI and those deploying it at scale. CEOs reporting cost and revenue growth are two to three times more likely than other companies to say they have broadly embedded AI into products and services, demand generation and strategic decision-making.”
Additionally, organizations that have built a strong AI foundation are three times more likely than other organizations to report meaningful financial returns. Another PwC analysis showed that companies that apply AI extensively to their products, services and customer experiences have profit margins that are nearly 4% higher than those that don’t.
Additionally, CEO confidence has weakened further as external risks have increased. About 20% of CEOs globally see tariffs as a risk to their companies in 2026, although risks vary widely by region. The Middle East is 6%, mainland China is 28%, Mexico is 35%, and the exposure rate of American CEOs is as high as 22%.
Cyber risk has also risen sharply, with 31% of CEOs now considering it a major threat, up from 24% last year and 21% two years ago. In response, 84% of respondents said they plan to strengthen enterprise-wide cybersecurity as part of a response to geopolitical risks.
Other rising risks include macroeconomic volatility (31%), technological disruption (24%) and geopolitics (23%), while concerns about inflation have declined slightly (to 25% from 27% last year).
CEOs say reinvention is critical to growth, with some 42% of respondents starting to compete in new areas in the past five years. Of those planning major acquisitions, 44% are looking to invest outside their current industry, with technology being the most attractive adjacent industry.
In addition, 51% of CEOs plan to make international investments in 2026. The top three destinations for CEOs are the United States, accounting for 35%, followed by the United Kingdom and Germany, both at 13%, and finally mainland China, accounting for 11%.
Notably, interest in India has nearly doubled year-on-year, with 13% of CEOs planning to invest internationally naming India as one of their top three destinations.
Just yesterday, the reinsurance industry giant Swiss Re released a report predicting that the annual premium growth rate from 2026 to 2030 will be 6.9%, making China the fastest growing major insurance market in the world.
Arthur Wightman, PwC Bermuda Country Leader commented: “Business leaders face a challenging year, with growing concerns about volatility, cyber risks and geopolitical tensions. Despite short-term uncertainty, our survey of global CEOs found that they remain focused on long-term transformation – driving innovation, investing in artificial intelligence and entering new industries to respond to the changing global economy. Notably, 44% of CEOs seeking major acquisitions in the next three years plan to deal outside their current industry or other industries.”
