Forecast: Number of Persons Employed of Non Life Insurance in Sweden

The number of persons employed in the non-life insurance sector in Sweden has seen a continual decline from 2013 to 2023, with the employee count standing at 6.43 thousand in 2023. Key observations include a peak in 2017 at 14.54 thousand, followed by a significant drop over subsequent years. The trend shows consistent annual decreases with larger declines starting from 2018 onwards. Notably, there was a sharp decrease of 22.85% in 2018 and a continued annual reduction, with an average yearly decline (CAGR) of 10.53% from 2018 to 2023.

The forecasted data from 2024 onwards predicts further declines, with the number of employees projected to fall to 2.61 thousand by 2028, indicating a severe reduction (forecast 5-year CAGR of -14.32% and an overall negative growth rate of -53.83%).

Future trends to watch for:

• Potential effects of technological advancements and digital transformations reducing the need for human resources in the sector.
• Impact of regulatory changes and economic conditions on employment figures.
• Monitoring the balance of automation and potential job upskilling or reskilling initiatives in the industry.