Allianz Research

Powering ahead:
Allianz Global Wealth Report 2025

Europe under water: The macroeconomic cost of flooding and the economic case for adaptation

Flood losses are rising rapidly as economic activity continues to concentrate in high-risk areas. Floods are Europe’s most frequent and costliest natural hazard, with total economic losses climbing steadily, to EUR226bn in the first quarter of this century. 

Half-Time Outlook 2026-27: AI holds the score, growth slows to +2.5%

As the Middle East conflict de-escalates – despite temporary flare-ups – we expect only a mild slowdown in global growth in 2026 to +2.5%, followed by a rebound to +2.9% in 2027, broadly in line with our previous baseline outlook. 

Credit risk relocated, not removed: Newton’s cradle transmitting risk across BBB, HY, and private credit

US credit looks calm on the surface – spreads tight, headline growth cheerful – but the risk has simply migrated.