Insurance Report – Finance Professionals in Insurance
HFG and Vacancysoft
Despite the pre-referendum slowdown we have seen in other sectors, professional vacancies in insurance have climbed to levels 21% higher than this time last year. Finance roles in particular are especially busy, and reached our data’s high point of over 180 vacancies monthly. July’s results do not show any drop-off following the referendum result.
In the past 24 months, the overall vacancy trend in the insurance sector has been positive; the first half of 2015 saw a 10% increase in finance vacancies and a 20% rise in all vacancies, compared to the second half of 2014. Another driver of this growth was a busy summer in 2015. This overall trend is unexpected, since the finance industry as a whole is one of the most exposed to the hiring slowdown triggered by Brexit uncertainty.
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During 2015, the proportion of finance roles to all roles in the insurance sector was unusually low, and that proportion has not yet recovered. Since October, trends in finance vacancies have mirrored those in the sector overall.
On a sub-sector level, roles in Life and Non-Life dominate the market, having accounted for 87% of finance roles in insurance companies between August 2014 and July 2015. This proportion fell slightly over the next twelve months, to 85%, as companies in the reinsurance and brokerage sub-sectors substantially increased the number of vacancies they offered, by 25% and 32% respectively.
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