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

Since 2013, the Insurance, Reinsurance, and Pension Funding sector in Italy has experienced fluctuations in employee hours, with values standing at 79.52 million in 2023. From 2013 to 2023, the sector showed an overall decreasing trend with notable dips in 2015, 2017, and 2020. Particularly striking is the 6.29% decrease in employee hours in 2020 followed by a slight recovery and then a gradual decline. Over the last five years leading up to 2023, the average annual decrease (CAGR) was -0.76%, indicating a general downward trend in employee hours.

Looking to the future, from 2024 to 2028, a consistent but gradual decline is forecasted with an annual CAGR of -0.1%. By 2028, employee hours are expected to fall to 79.02 million, representing a cumulative decrease of around 0.48% over this period. This long-term decline suggests a sector potentially undergoing structural changes, possibly due to increased automation, digital transformation, and changes in workforce dynamics.

Future trends to watch for include:

- The impact of digital transformation on operational efficiencies and workforce requirements.

- Changes in regulatory environments potentially influencing employment levels.

- The demand for new skills and roles driven by technological advancements within the sector.