AIG CEO says AI data center boom is straining property and casualty insurers

The AI infrastructure gold rush is creating a problem that doesn’t get nearly enough attention: who insures all of it? AIG’s new CEO Eric Andersen just made clear that the explosion in data center construction is simultaneously the insurance industry’s greatest opportunity and its most complex headache. Speaking at a recent S&P Global Ratings conference, Andersen described the data center buildout as the largest short-term opportunity for property and casualty insurers. But the risks involved, spanning construction, operations, cyber threats, liability, and even marine exposures, are pushing traditional insurers beyond what they can comfortably underwrite on their own. A $24 billion problem by 2030 The numbers tell a striking story. According to Swiss Re, global data center insurance premiums sit at roughly $10.6 billion in 2026. By 2030, that figure is projected to exceed $24.2 billion. That’s more than a doubling in four years, driven by massive capital expenditures from hyperscale cloud providers racing to build out AI capacity. Andersen, who took over as AIG’s President and CEO on June 1, 2026, succeeding Peter Zaffino, emphasized that the multifaceted nature of these risks...