Forecast: Number of Persons Employed of Life Insurance in Austria

The employment in the life insurance sector in Austria exhibited fluctuations from 2013 onwards, peaking at 2.99 thousand employees in 2015. From 2016, a downward trend began, accelerating with a steep decline in 2018 and continuing gently downwards through subsequent years. In 2023, the sector employed 2.44 thousand individuals, marking a -0.73% decrease from the previous year. Over the past five years, the sector has experienced an average annual decline (CAGR) of -0.96%.

Looking ahead, the forecast suggests a continued gradual decline in employment, projecting a modest reduction at a five-year CAGR of -0.37% up to 2028. Key trends to monitor include the impact of automation, changing consumer preferences, increasing regulatory complexities, and market consolidation, likely influencing the employment landscape in the sector.