Forecast: Employment in Insurance, Reinsurance and Pension Funding Sector in Spain

Employment in the Insurance, Reinsurance, and Pension Funding sector in Spain saw a general decline from 2013 to 2018, before a marked recovery from 2019 onwards. Specifically, there were notable year-on-year increases of 6.64% in 2019 and 3.19% in 2020, followed by a relatively stable period with minor fluctuations. The employment value stood at 96.69 million hours in 2023. Over the last five years, the compound annual growth rate (CAGR) was approximately 1.97%. The forecast indicates modest growth through 2028, with a 5-year CAGR of 0.34% and a total growth rate of 1.72%.

Future trends to watch for include the potential impacts of digital transformation on employment, regulatory changes, and economic shifts that could affect sector demand. Additionally, the evolving nature of insurance products and services may influence employment dynamics in the coming years.