What is the difference in insurance indicators — penetration between Korea and Luxembourg?

23.1 Percentage of GDP, with Luxembourg ahead.

How many years of comparable data are there for Korea and Luxembourg?

30 years are reported by both, from 1994 to 2023.

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.

Korea vs Luxembourg: Insurance indicators — Penetration

Korea

9.89 Percentage of GDP

in 2023

Luxembourg

32.99 Percentage of GDP

in 2024

Korea rank

1st

Luxembourg rank

1st

Insurance indicators — Penetration over time

Korea
Luxembourg

How they compare

Luxembourg currently reports 32.99 Percentage of GDP against 9.89 Percentage of GDP in Korea, a difference of 23.1 Percentage of GDP.

That makes Luxembourg's figure about 3.3 times Korea's.

The two have swapped places 1 time across 30 shared years of data; in 1994 it was Korea ahead.

Korea ranks 1st and Luxembourg ranks 1st of 9 groups.

Luxembourg has averaged higher in every one of the 4 decades both report.

Head to head by decade

Decade	Korea	Luxembourg	Difference	Ahead
1990s	11.58 Percentage of GDP	21.43 Percentage of GDP	9.84 Percentage of GDP	Luxembourg
2000s	9.05 Percentage of GDP	29.79 Percentage of GDP	20.74 Percentage of GDP	Luxembourg
2010s	10.7 Percentage of GDP	37.67 Percentage of GDP	26.97 Percentage of GDP	Luxembourg
2020s	10.44 Percentage of GDP	31.86 Percentage of GDP	21.42 Percentage of GDP	Luxembourg

Averages of every year both report within each decade.

Frequently asked questions

Which has higher insurance indicators — penetration, Korea or Luxembourg?: Luxembourg, at 32.99 Percentage of GDP against 9.89 Percentage of GDP in Korea as of 2024.
What is the difference in insurance indicators — penetration between Korea and Luxembourg?: 23.1 Percentage of GDP, with Luxembourg ahead.
How many years of comparable data are there for Korea and Luxembourg?: 30 years are reported by both, from 1994 to 2023.
How do Korea and Luxembourg rank globally for insurance indicators — penetration?: Korea ranks 1st and Luxembourg ranks 1st of 9 groups.
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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Korea vs Luxembourg: 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/korea/luxembourg/

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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.