In Sweden, the number of persons employed in the non-life insurance sector has seen a steady decline from 2013 to 2023. In 2023, the sector employed 6.2 thousand people, indicating a significant decrease compared to previous years. The sector experienced an average annual decline (CAGR) of -8.26% between 2014 and 2019, -10.81% between 2019 and 2021, and -11.2% over the last five years. Year-on-year variations highlight significant drops, especially in 2018 (-22.85%) and 2023 (-12.05%).
Forecasts for the next five years suggest a continued downward trend, with an anticipated average annual decline (forecast 5-year CAGR) of -17.28%, translating to a forecasted growth rate of -61.26% by 2028.
Future trends to watch for:
- Increasing automation and digitalization within the sector.
- Potential market consolidations leading to further job reductions.
- Shifts in employment towards more tech-focused roles within the industry.
- Possible impacts of regulatory changes or economic fluctuations.
