Forecast: Employment in Life Insurance Sector in Italy

The employment in the life insurance sector in Italy has exhibited significant fluctuations and a substantial upward trend from 2013 to 2023, standing at 15.55 thousand full-time equivalents (FTE) by 2023. The most notable surge was observed from 2014 to 2015 with a 57.38% increase, attributable to sectoral reforms and economic recovery boosts. However, several declines followed, notably in 2016 and 2017, with decreases of 1.52% and 1.76%, respectively. More recently, there has been a consistent upward trend, with year-on-year increases of 3.48% in 2022 and 3.23% in 2023, resulting in an average compound annual growth rate (CAGR) of 1.74% over the last five years.

Looking ahead, the forecast indicates a continued positive outlook with employment in the sector expected to rise to 17.73 thousand FTE by 2028, driven by technological advancements and digital transformation. With an anticipated 5-year CAGR of 2.04% and a forecasted growth rate of 10.64%, future trends to watch for include increasing automation, enhanced digital capabilities, and the repercussion of regulatory changes that might affect employment dynamics and job roles within the sector.