Filed Under:Markets, Reinsurance

P&C Carriers, Agents and Brokers Continue Employment Gains in January

Property and casualty insurers and agents and brokers again enjoyed a strong month of employment gains in January, adding 1,300 and 1,400 jobs respectively, according to an Insurance Information Institute analysis of the latest U.S. Labor Department’s Bureau of Labor Statistics figures.

Both industry subsectors also showed year-over-year gains in January. I.I.I. President Robert Hartwig says P&C carrier employment was up by 5,300 jobs in January 2014 compared to January 2013, “continuing to reverse a 29-month long string of year-over-year employment decreases (the string ran from June 2011 through October 2013).”

P&C carrier employment stood at 527,900 as of January.

Agents and brokers added 12,500 jobs in January 2014 compared to January 2013. The subsector has added jobs every month since June after enduring several months of job losses. Employment stood at 675,500 as of January, approaching the pre-recession peak of 684,500 in July 2007.

Reinsurance employment was flat in January compared to December, but up by 1,800, to 27,900, compared to January 2013. Claims adjusters added 800 jobs for the month, but employment in this subsector was down by 3,300, to 51,700, compared to January 2013.

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