Insurance indicators — Penetration in New Zealand
New Zealand: Insurance indicators — Penetration was 3.35 Percentage of GDP in 2021. ▲ Rising
Insurance indicators — Penetration in New Zealand, 1988–2021
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
In 2021, insurance indicators — penetration in New Zealand stood at 3.35 Percentage of GDP.
The figure is down 3.8% on the previous year and up 48.1% over ten years.
Over the whole period, insurance indicators — penetration in New Zealand peaked at 4.19 Percentage of GDP in 1989 and was at its lowest, 1.07 Percentage of GDP, in 1995.
That places New Zealand 30th out of 52 countries with data for 2021, putting it in the middle of the range.
The long-run direction has been consistently rising across the 30 years of available data.
Insurance indicators — Penetration in New Zealand, year by year
| Year | Percentage of GDP | Change |
|---|---|---|
| 1988 | 2.03 Percentage of GDP | — |
| 1989 | 4.19 Percentage of GDP | +106.5% |
| 1990 | 4.01 Percentage of GDP | -4.2% |
| 1991 | 3.65 Percentage of GDP | -9.1% |
| 1992 | 1.54 Percentage of GDP | -57.7% |
| 1993 | 1.44 Percentage of GDP | -6.5% |
| 1994 | 1.41 Percentage of GDP | -2.1% |
| 1995 | 1.07 Percentage of GDP | -23.8% |
| 1996 | 2.42 Percentage of GDP | +125.5% |
| 1997 | 2.46 Percentage of GDP | +1.7% |
| 1998 | 2.4 Percentage of GDP | -2.7% |
| 2000 | 2.46 Percentage of GDP | +2.4% |
| 2001 | 2.3 Percentage of GDP | -6.2% |
| 2003 | 2.07 Percentage of GDP | -10.1% |
| 2004 | 2.52 Percentage of GDP | +21.9% |
| 2005 | 2.63 Percentage of GDP | +4.1% |
| 2006 | 2.56 Percentage of GDP | -2.5% |
| 2007 | 2.37 Percentage of GDP | -7.5% |
| 2008 | 2.31 Percentage of GDP | -2.7% |
| 2009 | 2.37 Percentage of GDP | +2.8% |
| 2010 | 2.26 Percentage of GDP | -4.8% |
| 2012 | 2.57 Percentage of GDP | +13.6% |
| 2013 | 2.67 Percentage of GDP | +4.2% |
| 2014 | 2.64 Percentage of GDP | -1.2% |
| 2015 | 2.51 Percentage of GDP | -4.8% |
| 2016 | 2.47 Percentage of GDP | -1.8% |
| 2017 | 2.36 Percentage of GDP | -4.5% |
| 2019 | 3.4 Percentage of GDP | +44.5% |
| 2020 | 3.48 Percentage of GDP | +2.1% |
| 2021 | 3.35 Percentage of GDP | -3.8% |
New Zealand compared with similar countries
- New Zealand's 3.35 Percentage of GDP is below the median for high income countries, which is 5.27 Percentage of GDP, 63% of the median. (32 countries reporting)
- New Zealand's 3.35 Percentage of GDP is below the median for East Asia & Pacific, which is 4.63 Percentage of GDP, 72% of the median. (7 countries reporting)
Biggest year-on-year movements
Years where Insurance indicators — Penetration in New Zealand changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1996 | +125.5% | 1.07 Percentage of GDP | 2.42 Percentage of GDP |
| 1989 | +106.5% | 2.03 Percentage of GDP | 4.19 Percentage of GDP |
| 1992 | -57.7% | 3.65 Percentage of GDP | 1.54 Percentage of GDP |
| 2019 | +44.5% | 2.36 Percentage of GDP | 3.4 Percentage of GDP |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 3.11 Percentage of GDP | 2.03 Percentage of GDP | 4.19 Percentage of GDP | 2 |
| 1990s | 2.27 Percentage of GDP | 1.07 Percentage of GDP | 4.01 Percentage of GDP | 9 |
| 2000s | 2.4 Percentage of GDP | 2.07 Percentage of GDP | 2.63 Percentage of GDP | 9 |
| 2010s | 2.61 Percentage of GDP | 2.26 Percentage of GDP | 3.4 Percentage of GDP | 8 |
| 2020s | 3.41 Percentage of GDP | 3.35 Percentage of GDP | 3.48 Percentage of GDP | 2 |
Countries ranked near New Zealand
More reference data data for New Zealand
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.4532 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 9.92 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 10.93 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.0459 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 10.93 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 1.52 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 1.53 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 42.17 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 47.53 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 0.2499 (2050)
Frequently asked questions
- What is insurance indicators — penetration in New Zealand?
- Insurance indicators — penetration in New Zealand was 3.35 Percentage of GDP in 2021, according to Organisation for Economic Co-operation and Development.
- What is the highest insurance indicators — penetration recorded in New Zealand?
- The highest recorded value was 4.19 Percentage of GDP in 1989.
- What is the lowest insurance indicators — penetration recorded in New Zealand?
- The lowest recorded value was 1.07 Percentage of GDP in 1995.
- How does New Zealand rank for insurance indicators — penetration?
- New Zealand ranks 30th out of 52 countries with data for 2021.
- Is insurance indicators — penetration rising or falling in New Zealand?
- Over the last ten years it is up 48.1%. The long-run trend across the full record is rising.
- Where does this New Zealand data come from?
- The figures come from Organisation for Economic Co-operation and Development, published as part of Insurance indicators — Penetration. Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 30 observations, free to reuse under OECD Terms and Conditions (attribution required).
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.