Insurance sector salaries have mostly stabilised, but careers are continuing to flourish in Australia despite the global financial turmoil, according to specialist recruitment firm Hays.

The company’s annual salary survey reports few redundancies in the insurance sector, with most states reporting a shortage of quality skilled insurance candidates.

“Demand is high for technical expertise such as commercial and life underwriting, loss adjusting and brokers,” the Hays report said.

Business development managers and sales professionals are also in demand across all insurance sectors, and the need for broker support officers has also increased. Companies are also seeking claims and workers’ compensation specialists.

The financial downturn seems to be driving recruitment in life insurance, with more specialists needed to cope with surging consumer demand for income and debt protection policies.

The survey says salaries in the sector are “mostly flat”, but rises were experienced in Melbourne and Adelaide broking, claims and workers’ compensation roles.

Salaries rose for Melbourne, Brisbane, Gold Coast, and Adelaide sales and service positions.

At the high end of increases, the salary offered for a client services manager in Adelaide jumped from $60,000 to $70,000.