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Exploring the knock on effect of the Ukraine crisis

A conflict that changed the world

Ukraine: A conflict that changed the world


The conflict in Ukraine has once again demonstrated the devastating toll that a systemic event can have on the global risk landscape. As quickly as the conflict began, our economic assumptions have been challenged; our energy mixes thrown into question; and our geopolitical relationships redefined.

The knock-on effects of the crisis will last a lifetime, and it is clear the damage already caused has left the world in a dramatically altered state. Business and insurers must work to understand and navigate the world it leaves behind.

Our latest report, Ukraine: A conflict that changed the world, created in partnership with Aon, aims to provide insights on the medium to long term impacts of the Ukraine crisis on the risk landscape. The analysis is based on in-depth interviews with 75 sector experts and practitioners across Aon and Lloyd’s, each providing real-life, practical insights on the challenges that companies are facing today and how they are adjusting their risk management approaches in response.

Download the report

The report examines five potential outcomes of the conflict, against four macro themes (inflation, economic impact, geopolitics and social transformation). The analysis then looks at seven key challenges businesses are likely to face in short to long term.

Key challenges for businesses and sector impacts

Businesses are more connected today than they ever have been before. As a result, the impacts from the crisis have been far reaching and have left no business or sector untouched. Our research explores some of the key challenges businesses are currently facing, or will face in the medium to long term as well as the impact on specific industries.

Key challenges for businesses

Explore the possible short, medium, and long-term effects of the conflict across a series of themes: supply chains, energy, food security, ESG, the climate transition, inflation and cyber.

The impact on industry

The impact of the conflict on macroeconomic themes will most certainly be felt across all industries. Explore our research across seven sectors, including energy, construction and manufacturing and banks and financial institutions.

The role of the insurance industry

Insurance is a core part of a resilient society, providing protection when the worst happens and preparation for the risks that may lie ahead – so the products and services provided by the sector must be sufficient for the challenge ahead.

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