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

From 2013 to 2023, the number of employees (expressed in million hours) in the Insurance, Reinsurance, and Pension Funding sector in Spain exhibited variable trends. Initial decline was observed, with slight fluctuations and a notable increase in 2019 and 2020. The value stood at 97.01 million hours in 2023, marking a 0.54% year-on-year increase and a CAGR of 2.04% over five years. Forecasts from 2024 onwards predict modest growth with an expected 98.42 million hours by 2028.

Future trends to watch for:

• Sustained but modest growth with a 5-year CAGR forecast at 0.2%.
• Sectoral shifts influenced by regulatory changes, technological advancements, and economic conditions.