Forecast: Number of Persons Employed in Life Insurance Sector in Italy

The life insurance sector in Italy has witnessed fluctuations in employment from 2013 to 2023. The number of employees stood at 14.94 thousand in 2023. There were notable increases in employment in 2014 and 2015 with year-on-year growth rates of 1.71% and 8.7%, respectively. However, employment dipped by 4.91% in 2019, marking a significant downturn. In the following years, the sector stabilized but exhibited modest growth, with 2020, 2021, 2022, and 2023 showing marginal year-on-year increases of 1.12%, 0.26%, 0.21%, and 0.17%, respectively. The compound annual growth rate (CAGR) over the last five years up to 2023 is -0.66%, reflecting a slight overall decline in employment.

Looking ahead, the forecast data from 2024 to 2028 suggest a stable yet modest increase in employment, with a projected CAGR of 0.06% and overall growth of 0.31% by 2028. This indicates a period of stabilization and slight growth after the volatility of the past decade.

Future trends to watch for include potential impacts of digital transformation on employment, the influence of regulatory changes, and the sector's ability to attract younger talent in an evolving market landscape. Also, monitoring shifts in consumer behavior towards insurance products will be key for predicting employment trends.