The US insurance industry witnessed a significant wave of layoffs in 2023, with property and casualty (P&C) carriers carrying out the bulk of these employment cuts.
According to analysis by S&P Global Market Intelligence, the P&C sector saw a reduction of at least 6,800 jobs.
Throughout the year, approximately 20 different companies undertook staff reductions, signifying a broader trend within insurers to either refocus their core strategies or moderate financial outflows.
