A BRIGHTER FUTURE
The past decade was a transitional one for the insurance industry, with mergers and acquisitions driving some dramatic, often painful changes. Because the industry had such a strong presence in Connecticut, the impact of those changes was felt particularly hard.
Throughout this difficult period, punctuated by workforce reductions and some relocations, the insurance industry remained Connecticut’s core industry, and continued to employ more of our citizens than any other business sector.
And now, the future looks brighter for Connecticut’s insurance businesses as we move into the next decade. Last year nationwide, the industry’s workforce grew 13%, and premiums are projected to grow again in 2006. One projection estimates the industry will grow 8% over the next six years in Connecticut.
St. Paul Travelers announced the addition of 600 new jobs in July.
