Insurance indicators — Penetration by country
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...
What the numbers show
Insurance indicators — Penetration is currently reported for 60 countries. The highest value is 32.99 Percentage of GDP in Luxembourg; the lowest is 0.579 Percentage of GDP in Egypt.
The median across all reporting countries is 3.54 Percentage of GDP, and the mean is 5.48 Percentage of GDP.
The gap between the highest and lowest reporting country is a factor of about 57.
Over the past decade 35 countries rose and 25 fell. The largest increase was in Uruguay (up 71.0%), and the largest decrease in Australia (down 49.1%).
Insurance indicators — Penetration: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Luxembourg | 32.99 Percentage of GDP | 2024 | down 20.6% | volatile |
| 1 | Netherlands | 8.26 Percentage of GDP | 2024 | up 55.5% | rising |
| 2 | Hong Kong | 18.53 Percentage of GDP | 2024 | up 31.6% | rising |
| 2 | Slovenia | 3.63 Percentage of GDP | 2024 | down 27.2% | falling |
| 2 | Croatia | 2.29 Percentage of GDP | 2023 | down 10.0% | falling |
| 3 | United States | 12.68 Percentage of GDP | 2024 | up 17.3% | rising |
| 3 | Estonia | 3.62 Percentage of GDP | 2024 | up 16.7% | rising |
| 4 | South Africa | 12.66 Percentage of GDP | 2023 | down 4.3% | falling |
| 4 | Latvia | 3.05 Percentage of GDP | 2024 | up 34.4% | rising |
| 5 | Sweden | 12.38 Percentage of GDP | 2024 | up 49.5% | rising |
| 5 | Poland | 2.22 Percentage of GDP | 2024 | down 30.1% | rising |
| 6 | United Kingdom | 11.75 Percentage of GDP | 2024 | up 9.4% | rising |
| 6 | Lithuania | 2.02 Percentage of GDP | 2024 | up 22.5% | rising |
| 7 | Ireland | 11.69 Percentage of GDP | 2024 | down 39.6% | rising |
| 7 | Türkiye | 1.86 Percentage of GDP | 2024 | up 49.2% | rising |
| 8 | Denmark | 11.61 Percentage of GDP | 2024 | up 11.2% | rising |
| 9 | France | 10.97 Percentage of GDP | 2024 | up 19.3% | rising |
| 10 | Taiwan | 10.79 Percentage of GDP | 2024 | down 46.1% | falling |
| 11 | OECD | 9.44 Percentage of GDP | 2024 | up 13.6% | rising |
| 12 | Singapore | 8.25 Percentage of GDP | 2023 | up 16.1% | rising |
| 13 | Japan | 7.74 Percentage of GDP | 2024 | up 14.1% | flat |
| 14 | Belgium | 7.55 Percentage of GDP | 2024 | up 9.7% | rising |
| 15 | Canada | 6.96 Percentage of GDP | 2024 | up 63.8% | rising |
| 16 | Italy | 6.93 Percentage of GDP | 2024 | down 20.7% | rising |
| 17 | Switzerland | 6.73 Percentage of GDP | 2024 | down 23.9% | falling |
| 18 | Germany | 5.91 Percentage of GDP | 2024 | down 7.6% | rising |
| 19 | Norway | 5.89 Percentage of GDP | 2024 | up 11.7% | rising |
| 20 | Portugal | 4.66 Percentage of GDP | 2024 | down 40.6% | rising |
| 21 | Malaysia | 4.63 Percentage of GDP | 2023 | down 3.5% | flat |
| 22 | Spain | 4.46 Percentage of GDP | 2024 | down 12.9% | rising |
| 23 | Chile | 4.43 Percentage of GDP | 2024 | up 5.3% | rising |
| 24 | Austria | 4.39 Percentage of GDP | 2024 | down 15.1% | falling |
| 25 | India | 4.18 Percentage of GDP | 2020 | up 9.0% | rising |
| 26 | Israel | 3.81 Percentage of GDP | 2024 | down 16.5% | falling |
| 27 | Uruguay | 3.57 Percentage of GDP | 2024 | up 71.0% | rising |
| 28 | Finland | 3.51 Percentage of GDP | 2024 | down 31.2% | falling |
| 29 | Brazil | 3.44 Percentage of GDP | 2024 | up 20.9% | rising |
| 30 | New Zealand | 3.35 Percentage of GDP | 2021 | up 48.1% | rising |
| 31 | Colombia | 3.29 Percentage of GDP | 2024 | up 31.9% | rising |
| 32 | Australia | 3.03 Percentage of GDP | 2024 | down 49.1% | falling |
| 33 | Mexico | 2.76 Percentage of GDP | 2024 | up 40.2% | rising |
| 34 | Czechia | 2.56 Percentage of GDP | 2024 | down 27.8% | rising |
| 35 | El Salvador | 2.45 Percentage of GDP | 2024 | up 2.0% | flat |
| 36 | Costa Rica | 2.4 Percentage of GDP | 2024 | up 8.1% | rising |
| 37 | Bulgaria | 2.28 Percentage of GDP | 2024 | up 1.0% | flat |
| 38 | Iceland | 2.27 Percentage of GDP | 2024 | down 5.2% | falling |
| 39 | Greece | 2.27 Percentage of GDP | 2024 | up 6.4% | rising |
| 40 | Panama | 2.24 Percentage of GDP | 2024 | down 14.2% | falling |
| 41 | Argentina | 2.23 Percentage of GDP | 2024 | down 6.1% | falling |
| 42 | Tunisia | 2.12 Percentage of GDP | 2021 | up 10.3% | rising |
| 43 | Hungary | 2.05 Percentage of GDP | 2024 | down 18.6% | flat |
| 44 | Peru | 2.04 Percentage of GDP | 2024 | up 16.5% | rising |
| 45 | Honduras | 2 Percentage of GDP | 2024 | up 4.3% | flat |
| 46 | Ecuador | 1.86 Percentage of GDP | 2024 | down 20.2% | falling |
| 47 | Indonesia | 1.64 Percentage of GDP | 2021 | up 0.7% | flat |
| 48 | Bolivia | 1.63 Percentage of GDP | 2024 | up 40.1% | rising |
| 49 | Nicaragua | 1.48 Percentage of GDP | 2024 | down 1.2% | rising |
| 50 | Guatemala | 1.39 Percentage of GDP | 2024 | up 10.3% | rising |
| 51 | Paraguay | 1.17 Percentage of GDP | 2024 | up 26.7% | rising |
| 52 | Egypt | 0.579 Percentage of GDP | 2023 | down 11.6% | falling |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- Korea 9.89 Percentage of GDP
- Slovak Republic 1.56 Percentage of GDP
About this data
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.