The non-life insurance sector in Spain experienced notable fluctuations in employment from 2013 to 2023. Employment value stood at 50.26 thousand in 2023. The sector faced significant volatility, with a marked decline of 29.94% in 2020, followed by a strong recovery in subsequent years, including a 28.74% increase in 2021 and a 17.52% rise in 2022. The CAGR from 2018 to 2023 was 3.41%, indicating moderate growth. Future forecasts suggest steady growth, with a projected 3.77% CAGR from 2023 to 2028, leading to a 20.31% overall increase in employment by 2028.
Future trends to watch for include:
- Automation and digital transformation impacting workforce needs.
- Regulatory changes influencing employment stability.
- Economic conditions affecting insurance demand and sector employment.
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