Swiss Re study finds rising interconnection in corporate risks

A joint study by the Swiss Re Institute and the London School of Economics (LSE) has found that corporate risks are becoming increasingly interconnected. Analyzing 91 companies from the Fortune 100 list, researchers identified a 24% increase in connections between reported risks in 2026 compared to 2019.

Artificial intelligence and supply chain dependencies are highlighted as primary drivers of this interconnection. The report notes that the participation of companies reporting risks related to AI and new technologies increased by approximately 30% between 2019 and 2026, spanning sectors such as retail, aviation, pharmaceuticals, and food.

Jérôme Haegeli, chief economist of the Swiss Re Group, warned that these interconnected risks reduce the margin for error, particularly as many advanced economies face high debt and limited political reserves. The study suggests that future systemic crises may be driven not just by the scale of an initial event, but by its location and the existing connections between companies, sectors, and critical infrastructures.