Insurance vacancies hit record highs in 2022
Last year saw record levels of insurance jobs posted in England and Wales.
According to Regionalisation: UK Insurance Labour Market Trends, an insurance labour market study by recruitment specialist Harrison Holgate and market data analyst Vacancysoft, the number of vacancies was highest outside London – almost 9,000 job ads were published in the North of England, Midlands and South of England, up 48.2% on 2021. However, Greater London also saw more than 4,600 jobs posted – up 41.2% on 2021.
April 2022 saw the greatest number of new jobs advertised in the South, at 470. Vacancies in the Midlands hit record levels in May, with up to 170 new jobs advertised, while the North’s best month was April, during which more than 200 jobs were offered.
The largest number of new jobs was for broking specialists, who were most sought-after outside London. The South and North led the way, with rises of 53.9% and 60.1% respectively, followed by the Midlands, which saw growth of 50%.
Underwriting positions experienced the smallest increase in the South, growing by a relatively modest 16.5%. By contrast, this was the fastest-growing specialism in the Midlands, with a 79% rise.
The year’s busiest recruiters were the Ardonagh Group (400 new jobs), NFU Mutual (356) and RSA Insurance Group (around 200).
“As the industry is continuing to manage the operational impact from Covid’s early retirements and downshifting, the regional levels of hiring activity seen through 2022 are likely to continue throughout 2023,” said Harrison Holgate managing director Matthew Waters. “The main challenge for all firms within the industry will be the building of a robust talent pipeline while maintaining and managing salary expectations and inflation.”