Forecast: Employment in Non-Life Insurance Sector in Austria

Between 2013 and 2023, employment in the non-life insurance sector in Austria has observed a general upward trend. Employment figures increased from 17.68 thousand full-time equivalents in 2013 to 23.26 thousand in 2023. Significant growth was noted in 2018 with a 19.08% year-on-year rise, marking a notable jump from preceding years. From 2018 onward, the sector experienced moderate but steady growth, except for 2019 which saw a minor decline. The Compound Annual Growth Rate (CAGR) for the last five years stands at 1.66%, highlighting a consistent increase in employment.

Future trends to watch for in the non-life insurance sector in Austria include the implications of digital transformation, regulatory changes, and evolving consumer behavior. The growth is forecasted to continue, reaching 26.02 thousand full-time equivalents by 2028, corresponding to a 5-year CAGR of 1.78%. This forecast reflects a 9.24% growth rate over the next five years, suggesting sustained demand for employment in the sector.