In 2023, Germany led European labour costs in the insurance, reinsurance, and pension funding sector, with a significant share of 38.98 million euros. The Netherlands and Italy followed at 15.68 and 12.44 million euros, respectively. Germany saw a minor decline of 0.15%, while countries like the Netherlands, Italy, and Austria experienced increases of 0.59%, 1.71%, and 1.42%. Smaller economies such as Slovakia and Estonia reported notable increases of 2.09% and 2.53%, respectively, indicating emerging growth in these markets.
Future trends to watch include:
- Continued growth potential in smaller economies such as Estonia and Slovakia.
- Possible stabilization or modest growth in larger economies like Germany and the Netherlands.
- External factors, such as digital transformation and regulatory changes, impacting labour costs.
- The influence of macroeconomic conditions on sector dynamics and labour demand.
Top countries in Labour Costs in Insurance, Reinsurance and Pension Funding Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 38.98 | 2023 | -0.32% | -0.15% | View data |
| 2 | 2 Netherlands | 15.68 | 2023 | +0.22% | +0.59% | View data |
| 3 | 3 Italy | 12.44 | 2023 | +1.33% | +1.71% | View data |
| 4 | 4 Spain | 8.74 | 2023 | -0.11% | +0.11% | View data |
| 5 | 5 Austria | 7.69 | 2023 | +1.38% | +1.42% | View data |
| 6 | 6 Belgium | 7.15 | 2023 | +0.69% | +0.8% | View data |
| 7 | 7 Ireland | 3.08 | 2023 | -1.31% | -3.39% | View data |
| 8 | 8 Finland | 1.76 | 2023 | +0.36% | +0.47% | View data |
| 9 | 9 Luxembourg | 1.49 | 2023 | +2.55% | +2.56% | View data |
| 10 | 10 Greece | 1.18 | 2023 | +0.92% | +0.25% | View data |
