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Blake, Wm. Jerusalem The Emanation of The Giant Albion, object 41. 1821.

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The CEO of the world's largest insurance company warns that growing detachment between political leaders and the working class presents the biggest risk in a busy election year.

Oliver Bäte of Allianz published the Allianz Risk Barometer this month, which noted that political risk was already at a five-year high in 2023, with civil unrest risk high in about 100 countries. This trend is expected to deepen amid ongoing economic challenges.

Bäte: “You’ve seen recent elections in the Netherlands, you’ve seen it in France, and societies are polarizing because our leaders are not addressing the needs of the people. We have an increasing detachment of the political elite from the working class and the people that actually go to work every day, and that, I see as the number one risk for our societies. And remember, this year a lot of people are going to vote, so we need to make sure that they vote for the right things and are not just venting anger.”

Even in the U.S., a new poll this month found that 74% of Americans feel their leaders do not care about them.