The European insurance industry experienced a 35% drop in new job postings in Q1 2023 compared with the previous quarter, with the highest share accounted for by AXA with 1,756 job postings, according to GlobalData’s analysis of insurance company job postings. Buy the report here.
Notably, Computer and Mathematical Occupations jobs accounted for a 13% share of the European insurance industry’s total new job postings in Q1 2023, drop 31% over the prior quarter.
Computer and Mathematical Occupations drive insurance hiring activity
Computer and Mathematical Occupations, with a share of 13% new job postings, was the occupation with the greatest hiring activity in the European insurance industry in Q1 2023 , ahead of Business and Financial Operations Occupations with a 12% share of new job postings.
The other prominent roles included Management Occupations with an 11% share in Q1 2023, Office and Administrative Support Occupations with a 6% share and Sales and Related Occupations with a 2% share of new job postings.
Top five companies accounted for 39% of hiring activity
AXA posted 1,756 jobs in Q1 2023 and registered a decline of 59% over the previous quarter, followed by Swiss Life with 1,595 jobs and a 51% drop. Allianz Versicherungs-AG, with 1,592 jobs, and Allianz, with 1,371 jobs, recorded a 50% drop and a 31% drop, respectively, while Aon recorded a 124% increase with a 1,124 new job postings during Q1 2023.
Regional analysis of hiring in the European insurance industry, Q1 2023
The UK held the leading share of the European insurance hiring activity with a 29.93% share, a 23% decrease over Q4 2022. France was next with 20.11%, four-percentage-point down over the previous quarter.