The global insurance industry experienced a 26% drop in new job postings related to environmental sustainability in Q1 2023 compared with the previous quarter, according to GlobalData’s Job Analytics. This compares to a 74% increase versus Q1 2022. Environmental Sustainability is a priority in most of the industries today including Insurance. GlobalData’s ESG (Environmental, Social, and Governance) Top Trends by Sector – Thematic Research report assesses the impact of ESG by identifying key trends, company filings, and hiring pattern across 16 key sectors. Buy the report here.
Notably, Management Occupations jobs accounted for an 18% share of the global insurance industry’s environmental sustainability-related total new job postings in Q1 2023, down 17% over the prior quarter.
Management Occupations drive environmental sustainability-related hiring activity
Management Occupations, with a share of 18%, emerged as the top environmental sustainability-related job roles within the insurance industry in Q1 2023, with new job postings drop by 17% quarter-on-quarter. Business and Financial Operations Occupations came in second with a share of 16% in Q1 2023, with new job postings dropping by 34% over the previous quarter.
The other prominent environmental sustainability roles include Computer and Mathematical Occupations with a 15% share in Q1 2023, Office and Administrative Support Occupations with a 6% share of new job postings.
Top five companies in insurance industry accounted for 46% of hiring activity
The top companies, in terms of number of new job postings tracked by GlobalData, as of Q1 2023 were Aviva, Manulife Financial, Phoenix Group, Legal & General Group, and AXA. Together they accounted for a combined share of 46% of all environmental sustainability-related new jobs in the insurance industry.
Aviva posted 406 environmental sustainability-related new jobs in Q1 2023, Manulife Financial 401 jobs, Phoenix Group 367 jobs, Legal & General Group 218 jobs, and AXA 203 jobs, according to GlobalData’s Job Analytics.
Hiring activity was driven by the US with a 37.44% share of total new job postings, Q1 2023
The largest share of environmental sustainability-related new job postings in the insurance industry in Q1 2023 was in the US with 37.44% followed by the UK (30.38%) and Canada (8.09%). The share represented by the US was six percentage points higher than the 31.34% share it accounted for in Q4 2022.
To further understand GlobalData's analysis on ESG (Environmental, Social, and Governance) Top Trends by Sector - Thematic Research buy the report here.