Somalia is officially the most dangerous country in the world, according to Aon's political risk map for 2006.
The East African nation is host to all nine of Aon's significant risks, including the threat of civil unrest and political interference, making it less investment-friendly than Iraq.
Aon has given 23 countries a lower risk rating and only 11 a higher rating in its latest survey.
Risks for investors in countries like Brazil and Turkey may be reducing, but Charles Keville, Aon's director of crisis management, said the political situation could change quickly.
