In 2024, the number of employees in the UK's insurance, reinsurance, and pension funding sector stands at 104.08 thousand. This marks a slight decline compared to actual data from previous years. By 2025, this number is forecasted to decrease to 103.35 thousand, and it is expected to continue declining through to 2028, reaching 101.24 thousand. The sector is experiencing a year-on-year reduction in employment, indicating shifting industry dynamics and potential challenges. The compound annual growth rate (CAGR) over the next five years is predicted to be negative.
Future trends to watch for include automation and digital transformation, which may drive efficiency but lead to further workforce reductions. Additionally, regulatory changes and evolving customer preferences could further impact employment dynamics within the industry.
