The Asia-Pacific insurance industry experienced a 21% drop in new job postings in Q4 2023 compared with the previous quarter, with the highest share accounted for by Max Life insurance with 2,022 job postings, according to GlobalData’s analysis of insurance company job postings. GlobalData’s Insurance: Hiring Trends & Signals Q4 2023 report reveals comprehensive insights into hiring patterns, job roles, required skills, geographical trends, and key themes within the insurance industry, facilitating anticipation of future workforce needs. Buy the report here.

Notably, Management Occupations jobs accounted for a 32% share of the Asia-Pacific insurance industry’s total new job postings in Q4 2023, drop 30% over the prior quarter.

Management Occupations drive insurance industry hiring activity

Management Occupations, with a share of 32% new job postings, was the occupation with the greatest hiring activity in the Asia-Pacific insurance industry in Q4 2023 , ahead of Computer and Mathematical Occupations with a 12% share of new job postings.

The other prominent roles included Business and Financial Operations Occupations with an 11% share in Q4 2023, Office and Administrative Support Occupations with a 9% share and Sales and Related Occupations with a 3% share of new job postings.

Top five companies accounted for 44% of hiring activity

Max Life insurance posted 2,022 jobs in Q4 2023 and registered a decline of 40% over the previous quarter, followed by AIA Group with 762 jobs and a 14% drop. Bajaj Finserv, with 702 jobs, and Manulife Financial, with 562 jobs, recorded a 40% drop and a 29% drop, respectively, while Prudential recorded a 27% decline with a 444 new job postings during Q4 2023.

Regional analysis of hiring in the Asia-Pacific insurance industry, Q4 2023

India held the leading share of the Asia-Pacific insurance hiring activity with a 46.60% share, a 23% decrease over Q3 2023. Australia was next with 13.15%, four-percentage-point down over the previous quarter.

For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q4 2023, buy the report here.

This content was updated on 6 January 2024

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