The European insurance industry experienced a 22% drop in new job postings in Q3 2023 compared with the previous quarter, with the highest share accounted for by AXA with 3,171 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, Business and Financial Operations Occupations jobs accounted for an 11% share of the European insurance industry’s total new job postings in Q3 2023, drop 17% over the prior quarter.
Business and Financial Operations Occupations drive insurance industry hiring activity
Business and Financial Operations Occupations, with a share of 11% new job postings, was the occupation with the greatest hiring activity in the European insurance industry in Q3 2023 , ahead of Computer and Mathematical Occupations with an 11% share of new job postings.
The other prominent roles included Management Occupations with a 9% share in Q3 2023, Office and Administrative Support Occupations with an 8% share and Sales and Related Occupations with a 2% share of new job postings.
Top five companies accounted for 51% of hiring activity
AXA posted 3,171 jobs in Q3 2023 and registered a growth of 124% over the previous quarter, followed by Allianz with 2,343 jobs and a 27% drop. Swiss Life, with 983 jobs, and Zurich Insurance Group, with 686 jobs, recorded a 68% drop and a 57% drop, respectively, while Mapfre recorded a 20% decline with a 651 new job postings during Q3 2023.
Regional analysis of hiring in the European insurance industry, Q3 2023
The UK held the leading share of the European insurance hiring activity with a 29.04% share, a 14% decrease over Q2 2023. France was next with 21.58%, four-percentage-point down over the previous quarter.
For further understanding of GlobalData's Insurance: Hiring Trends & Signals Q3 2023, buy the report here.