The analysis of European wages and salaries in the insurance, reinsurance, and pension funding sectors for 2023 reveals considerable variation among countries. Denmark and Latvia experienced notable declines of -63.42% and -18.63%, respectively. Conversely, countries like the Netherlands (9.12%), Malta (7.44%), Luxembourg (5.52%), and Estonia (5.35%) demonstrated significant growth. Major markets such as Germany and France saw modest increases, with variations of 1.51% and 3.73%. Spain, Belgium, and Austria maintained stable growth driven by variations around the 1%-3% range. The data suggest increasingly varied wage landscapes across Europe.
For future trends, it is critical to watch for the ongoing economic environment which may affect these sectors differently across Europe. Closer monitoring of growth patterns in emerging markets within the EU and the influence of regulatory changes will be pivotal. Special attention should be given to the extent of digital transformation in the insurance sector which might recalibrate salary dynamics in the region.
Top countries in Wages and Salaries of Insurance, Reinsurance and Pension Funding Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Denmark | 28.71 | 2023 | +1.01% | -63.42% | View data |
| 2 | 2 Germany | 25.34 | 2023 | +0.19% | +1.51% | View data |
| 3 | 3 Latvia | 21.33 | 2023 | +9.28% | -18.63% | View data |
| 4 | 4 France | 17.4 | 2023 | +1.67% | +3.73% | View data |
| 5 | 5 Spain | 5.72 | 2023 | +0.66% | +0.62% | View data |
| 6 | 6 Belgium | 4.32 | 2023 | +0.37% | +1.44% | View data |
| 7 | 7 Austria | 4.28 | 2023 | +2.53% | +3.53% | View data |
| 8 | 8 Netherlands | 3.54 | 2023 | +0.52% | +9.12% | View data |
| 9 | 9 Norway | 1.93 | 2023 | +0.22% | -0.016% | View data |
| 10 | 10 Portugal | 1.12 | 2023 | +3.28% | +3.67% | View data |
