Job prospects Life Insurance Agent in the Montréal Region

Over the past few years (2021-2023), there was a labour shortage for Insurance agents and brokers in the Montréal Region. There were more job openings than workers available to fill them in this occupation.

Source Labour Market Information | Recent Trends Assessment Methodology

The employment outlook will be good for Insurance agents and brokers (NOC 63100) in the census metropolitan area of Montréal for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to a few new positions.
• Several positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

Employment trends are dependent on various factors related to the finance and insurance industries.

In recent years, insurance companies have invested in diversifying their services to develop new niches such as sustainable returns, portfolio diversification, wealth management, legal identity protection and personalized coverage for businesses and individuals.

As investments in electronic platforms to facilitate access to products and stay ahead of the competition are well established, their negative impact on job growth should be limited.

While the employment outlook for this occupation is good at the provincial level, it will be moderate and limited in seven regions.

Here are some key facts about Insurance agents and brokers in the census metropolitan area of Montréal:

• Approximately 8,070 people worked in this occupation in May 2021.

Source Labour Market Information | Prospects Methodology