What is the difference in insurance indicators — penetration between Iceland and Panama?

0.03 Percentage of GDP, with Iceland ahead.

How many years of comparable data are there for Iceland and Panama?

9 years are reported by both, from 2011 to 2024.

Where does this data come from?

Organisation for Economic Co-operation and Development, published as Insurance indicators — Penetration. Statizoid refreshes it automatically from the source and publishes the full history for both places.

Iceland vs Panama: Insurance indicators — Penetration

Iceland

2.27 Percentage of GDP

in 2024

Panama

2.24 Percentage of GDP

in 2024

Iceland rank

38th

Panama rank

40th

Insurance indicators — Penetration over time

Iceland
Panama

How they compare

Iceland currently reports 2.27 Percentage of GDP against 2.24 Percentage of GDP in Panama, a difference of 0.03 Percentage of GDP.

The two have swapped places 7 times across 9 shared years of data; in 2011 it was Panama ahead.

Iceland ranks 38th and Panama ranks 40th of 52 countries.

Panama has averaged higher in every one of the 2 decades both report.

Head to head by decade

Decade	Iceland	Panama	Difference	Ahead
2010s	2.55 Percentage of GDP	2.58 Percentage of GDP	0.0282 Percentage of GDP	Panama
2020s	2.3 Percentage of GDP	2.35 Percentage of GDP	0.0478 Percentage of GDP	Panama

Averages of every year both report within each decade.

Frequently asked questions

Which has higher insurance indicators — penetration, Iceland or Panama?: Iceland, at 2.27 Percentage of GDP against 2.24 Percentage of GDP in Panama as of 2024.
What is the difference in insurance indicators — penetration between Iceland and Panama?: 0.03 Percentage of GDP, with Iceland ahead.
How many years of comparable data are there for Iceland and Panama?: 9 years are reported by both, from 2011 to 2024.
How do Iceland and Panama rank globally for insurance indicators — penetration?: Iceland ranks 38th and Panama ranks 40th of 52 countries.
Where does this data come from?: Organisation for Economic Co-operation and Development, published as Insurance indicators — Penetration. Statizoid refreshes it automatically from the source and publishes the full history for both places.

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Iceland vs Panama: Insurance indicators — Penetration. Statizoid, drawing on Organisation for Economic Co-operation and Development. Retrieved 19 August 2026, from https://reference.statizoid.com/compare/insurance-indicators-penetration/iceland/panama/

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About this data

Indicator: Insurance indicators — Penetration
Unit: Percentage of GDP
Source: Organisation for Economic Co-operation and Development
Licence: OECD Terms and Conditions (attribution required)
Coverage: 62 places, 1,565 data points, 1983–2024
Last refreshed: 18 August 2026

This dataset includes key indicators on the insurance industry, such as insurance penetration (gross written premiums as a percentage of GDP), insurance density (gross written premiums in USD per capita), the share of life and non-life insurance in the total insurance business (life and non-life gross written premiums as a percentage of gross premiums), the retention ratio (net written premiums as a percentage of gross premiums) and the reinsurance share (reinsurance accepted as a percentage of gross premiums). This dataset also shows the domestic market share of foreign-controlled undertakings and branches/agencies in each reporting jurisdiction, and the geographical distribution of premiums written within the OECD.