The Asia-Pacific insurance industry experienced a 23% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by Manulife Financial with 789 job postings, according to GlobalData’s analysis of insurance company job postings. GlobalData’s Insurance: Hiring Trends & Signals Q3 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 an 18% share of the Asia-Pacific insurance industry’s total new job postings in Q3 2023, drop 39% over the prior quarter.
Management Occupations drive insurance industry hiring activity
Management Occupations, with a share of 18% new job postings, was the occupation with the greatest hiring activity in the Asia-Pacific insurance industry in Q3 2023 , ahead of Business and Financial Operations Occupations with a 16% share of new job postings.
The other prominent roles included Computer and Mathematical Occupations with a 14% share in Q3 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 38% of hiring activity
Manulife Financial posted 789 jobs in Q3 2023 and registered a decline of 2% over the previous quarter, followed by Prudential with 607 jobs and a 16% drop. Willis Towers Watson, with 497 jobs, and AXA, with 477 jobs, recorded a 22% drop and a 130% rise, respectively, while Marsh & McLennan recorded a 20% decline with a 429 new job postings during Q3 2023.
Regional analysis of hiring in the Asia-Pacific insurance industry, Q3 2023
Australia held the leading share of the Asia-Pacific insurance hiring activity with a 20.61% share, a 24% decrease over Q2 2023. India was next with 19.51%, four-percentage-point down over the previous quarter.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.