The Connecticut Insurance and Financial Services Cluster (IFS) and PricewaterhouseCoopers (PwC) released a November 2012 report on Connecticut's insurance market that shows Connecticut is well positioned to remain the U.S. insurance capital, according to the Insurance Journal.
Connecticut is first in the nation in terms of insurance employment as a percentage of overall employment. The Insurance Journal reports that the insurance industry represents approximately 3% of Connecticut’s workforce, 6% of the state’s payroll, and 9% of the gross state product. According to the IFS and PwC report, close to 61,600 people in Connecticut were directly employed by the insurance industry in 2011. Insurance industry employment is expected to grow about 10% over the next decade. For each new job in the insurance industry, the state economy adds about 1.46 jobs.
