DUBLIN, May, 7, 2026 - Aon plc (NYSE: AON), a leading global professional services firm, today released its 2026 Global Construction Insurance and Surety Market Report, finding that accelerating investment in digital infrastructure and data centers is reshaping construction insurance, underwriting priorities and risk transfer strategies worldwide.

Global construction activity continues to grow at pace, increasing from approximately $16 trillion in 2025 to $17 trillion in 2026, and is expected to reach nearly $22 trillion by 2030. Much of this growth is being driven by investment in energy production, infrastructure modernization and hyperscale digital infrastructure. This growth is unfolding alongside an estimated $260 billion in global natural disaster losses in 2025, reinforcing the importance of resilient design, disciplined program structuring and strong risk information as construction stakeholders manage cost, risk and project timelines.

While construction insurance markets are becoming more competitive across many regions, the report finds that underwriting discipline remains firmly in place for these large, technically complex and catastrophe‑exposed projects. Insurers are increasingly differentiating risks based on project governance, data quality and lifecycle exposure, particularly as data center development drives larger footprints, increased power requirements and more complex transition‑to‑operations risk.

Key construction market signals to watch in 2026

• Construction insurance market dynamics are shifting, with increased capacity and competitive pricing for well‑managed risks across many regions.
• Underwriting discipline remains strong for complex and catastrophe-exposed projects, with heightened scrutiny on contract structure, data quality and risk controls.
• Digital infrastructure investment is accelerating, resulting in larger, more power-intensive and technically complex projects that demand higher limits, advanced risk modelling and lifecycle-based approaches to risk management.
• The global surety market remains resilient, with capacity generally plentiful for strong credit risks and growing use of surety as an alternative to bank guarantees, supported by disciplined underwriting focused on aggregate exposure.

The report also notes that macroeconomic volatility, geopolitical risk and cyber exposure continue to influence project delivery, loss potential and underwriting appetite across global construction portfolios.

“Digital infrastructure is fundamentally changing the nature of construction risk,” said James MacNeal, Global Head of Construction and Infrastructure at Aon. “As projects become larger, more technical and more operationally critical, insurers are focusing on early engagement, high‑quality data and program design that reflects how these assets are built and transitioned into operation.”

Digital infrastructure and lifecycle risk

In response to the scale and pace of data center development, Aon has expanded its Data Center Lifecycle Insurance Program to $3.5 billion, supporting owners, developers and investors from early construction through to long‑term, mission‑critical operations.

“Even as construction insurance markets become more competitive, capacity for complex risks is being deployed selectively,” said Joe Peiser, CEO of Risk Capital at Aon. “A lifecycle‑based approach, enabled by Aon’s integrated Risk Capital capabilities, can help clients align insurance, reinsurance and capital to support hyperscale digital infrastructure from development through operations.”

Aon’s integrated Risk Capital platform combines commercial risk, reinsurance and capital markets capabilities to help clients manage complexity, optimize risk transfer and secure the scale of capacity required to support long‑term investment in digital infrastructure and other capital‑intensive sectors.

About Aon
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that help protect and grow their businesses.

Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.

Media Contact
mediainquiries@aon.com
Toll-free (U.S., Canada and Puerto Rico): +1 833 751 8114
International: +1 312 381 3024