Insurance CEOs less likely to hire, PwC survey claims

Fewer CEOs of insurance companies are planning to boost headcount in 2017 than in recent years, a PwC survey has claimed.

According to the survey in 2017 41 percent of insurance CEOs expect to boost headcount. This compares to 49 percent in 2016, 50 percent in 2015 and 59 percent in 2014.

This trend in the insurance industry comes despite a brighter outlook for the global economy in general among CEOs.

The survey has revealed that CEOs of all industries included in the survey expressed rising confidence in their own growth prospects and their outlook for the global economy. Over half of CEOs participating in the survey (52 percent vs 48 percent in 2016) expect to increase headcount over the next 12 months.

“Despite a tumultuous 2016, CEO confidence is moving back up – albeit slowly and still a long way from the levels we saw back in 2007,” said Bob Moritz, global chairman of PwC. “But there are signs of optimism right across the globe, including in the UK and US, where despite predictions of a Trump slump and a Brexit exit, CEOs confidence in their company’s growth are up from 2016. And that mood is reflected elsewhere, with more CEOs across the world targeting the US and UK for investment than a year ago.”

The survey was carried out between September and December 2016 and included 1,379 CEOs from 79 countries.