Zurich Insurance Group Plc is widening its offering for data-center projects to Europe and South America as it seeks to profit from the global buildout of infrastructure linked to artificial intelligence.
The Swiss firm will insure risks associated with the building and operating of data centers in Brazil, Germany, Italy, the Nordics and Spain in addition to its business in the US, according to a statement June 4. It plans to add more countries this year.
The expanded coverage follows rapid development in AI worldwide, with hyper scalers such as Microsoft Corp., Amazon.com Inc. and Alphabet Inc. looking at potential applications for industry and consumers in Europe and elsewhere. At the same time, the European Union has been stepping up efforts to build out its own digital infrastructure to stay independent of the US amid increasing geopolitical tensions.
Insurers like Zurich have been quick to offer risk coverage around data centers as they seek new streams of revenue at a time when their traditional businesses in property and casualty insurance face a slowdown in premium growth. Cumulative global insurance premiums associated with data centers are estimated to reach $134 billion between 2026 and 2030, according to a report by Artemis, citing a broker at Aon PLc.
Zurich says it underwrote more than 245 data-center construction projects in the US in 2025 and the business bumped its first-quarter earnings.
The insurer agreed to buy UK-based specialty insurer Beazley earlier this year, bolstering its expertise in cyber and digital insurance and also its operations in Europe, North America, Latin America and Asia. The deal will also allow it to leverage Beazley’s Lloyd’s of London presence.
Photo: Photo credit: Jason Alden/Bloomberg
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