The employment in the non-life insurance sector in Germany has experienced a steady decline over the past decade, falling from 107.6 thousand full-time equivalents (FTE) in 2013 to 98.42 thousand FTE in 2023. The annual year-on-year decrease over the last two years has been at -0.83% and -0.82%, respectively. Over the past five years, the compound annual growth rate (CAGR) has been -0.63%. Looking ahead, the forecast predicts this downward trend will continue, with employment expected to reach 94.56 thousand FTE by 2028, indicating a continued average annual decline of -0.63%, amounting to an overall reduction of -3.13% in five years.
Future trends to watch for include the impact of technological advancements and automation on employment, potential market consolidations, and regulatory changes that may influence job dynamics within the sector. Monitoring these factors will be crucial in predicting shifts in employment trends in the non-life insurance industry.
