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

2.79 Percentage of GDP, with United States ahead.

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

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 United States: Insurance indicators — Penetration

Korea

9.89 Percentage of GDP

in 2023

United States

12.68 Percentage of GDP

in 2024

Korea rank

1st

United States rank

3rd

Insurance indicators — Penetration over time

Korea
United States

How they compare

United States currently reports 12.68 Percentage of GDP against 9.89 Percentage of GDP in Korea, a difference of 2.79 Percentage of GDP.

That makes United States's figure about 1.3 times Korea's.

The two have swapped places 3 times across 30 shared years of data; in 1994 it was Korea ahead.

Korea ranks 1st and United States ranks 3rd of 9 groups.

Across the 4 decades both report, Korea averaged higher in 1 and United States in 3.

Head to head by decade

Decade	Korea	United States	Difference	Ahead
1990s	11.58 Percentage of GDP	9.91 Percentage of GDP	1.68 Percentage of GDP	Korea
2000s	9.05 Percentage of GDP	10.47 Percentage of GDP	1.42 Percentage of GDP	United States
2010s	10.7 Percentage of GDP	11.04 Percentage of GDP	0.3363 Percentage of GDP	United States
2020s	10.44 Percentage of GDP	12.04 Percentage of GDP	1.6 Percentage of GDP	United States

Averages of every year both report within each decade.

Frequently asked questions

Which has higher insurance indicators — penetration, Korea or United States?: United States, at 12.68 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 United States?: 2.79 Percentage of GDP, with United States ahead.
How many years of comparable data are there for Korea and United States?: 30 years are reported by both, from 1994 to 2023.
How do Korea and United States rank globally for insurance indicators — penetration?: Korea ranks 1st and United States ranks 3rd 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 United States: 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/united-states/

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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.