The number of persons employed in the non-life insurance sector in Norway stood at 5.33 thousand employees in 2023. Based on forecasts, this will increase to 5.44 thousand in 2024 and continue to rise steadily each year to reach 5.87 thousand by 2028. This represents a year-on-year growth rate of approximately 2% from 2024 onwards. The compound annual growth rate (CAGR) over the five-year period from 2023 to 2028 is about 1.94%.
Future trends to watch for include the impact of digital transformation on employment levels, regulatory changes affecting the insurance sector, and economic factors influencing consumer demand for non-life insurance products. These factors could either accelerate or moderate the growth forecasts.
