In 2023, Denmark witnessed a substantial decline of 62.97% in wages and salaries in the non-life insurance sector, while Latvia also experienced a significant decrease of 20.76%. Contrarily, Germany, France, United Kingdom, Spain, and Austria showed positive variations ranging from 0.99% to 10.14%. The Netherlands reported a notable increase of 14.09%. Conversely, Finland experienced a slight downturn, and countries such as Croatia and Bulgaria recorded modest growths.
Over the next few years, expect countries with steady growth like Austria and the Netherlands to continue their upward trends, driven by strong market fundamentals and economic stability. Keep an eye on potential recoveries in Denmark and Latvia, as market corrections may occur. Additionally, monitor emerging markets such as Poland and the Czech Republic for accelerated growth driven by increased investments in the insurance sector.
Top countries in Wages and Salaries of Non Life Insurance by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 8,180 | 2023 | +1.48% | -62.97% | View data |
| 2 | 2 Latvia | 7,600 | 2023 | +9.27% | -20.76% | View data |
| 3 | 3 Germany | 6,300 | 2023 | +0.69% | +1.02% | View data |
| 4 | 4 France | 4,100 | 2023 | +0.44% | +1.38% | View data |
| 5 | 5 United Kingdom | 3,580 | 2023 | -0.26% | +0.99% | View data |
| 6 | 6 Spain | 2,160 | 2023 | +11.12% | +2.37% | View data |
| 7 | 7 Austria | 1,970 | 2023 | +9.52% | +10.14% | View data |
| 8 | 8 Italy | 1,790 | 2023 | +2.15% | +2.45% | View data |
| 9 | 9 Sweden | 987.9 | 2023 | +1.51% | +0.82% | View data |
| 10 | 10 Netherlands | 957.2 | 2023 | +2.55% | +14.09% | View data |
