The life insurance sector in Finland has seen a significant decline in employment from 2013 to 2023, with a year-on-year variation showing notable decreases, particularly in 2014 and 2015. In 2023, the sector stood at 703 employees. Despite some recovery periods, such as in 2016 and 2018, the overall trend has been downward. The compound annual growth rate (CAGR) over the last 5 years (2018-2023) indicates a -1.55% average variation per year.

Looking forward, the forecast data suggests a continued decline in employment, with a projected five-year CAGR of -0.91%, amounting to a total reduction of 4.49% by 2028. This trend indicates ongoing challenges in the life insurance sector in terms of maintaining staff levels.

Future trends to watch for:

Technological advancements in industry processes, potentially reducing the need for human resources.
Pandemics or economic downturns impacting the insurance demand and, consequently, employment.
Policy changes or reforms in insurance regulations that could alter market dynamics and employment needs.