Insurance indicators — Penetration in Singapore
Singapore: Insurance indicators — Penetration was 8.25 Percentage of GDP in 2023. ▲ Rising
Insurance indicators — Penetration in Singapore, 2000–2023
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
In 2023, insurance indicators — penetration in Singapore stood at 8.25 Percentage of GDP.
Compared with earlier readings it is down 6.7% on the previous year and up 16.1% over ten years.
Over the whole period, insurance indicators — penetration in Singapore peaked at 10.65 Percentage of GDP in 2020 and was at its lowest, 4.26 Percentage of GDP, in 2009.
That places Singapore 12th out of 52 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently rising across the 17 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 7.03 Percentage of GDP | 4.26 Percentage of GDP | 10.24 Percentage of GDP | 4 |
| 2010s | 7.54 Percentage of GDP | 6.29 Percentage of GDP | 8.84 Percentage of GDP | 9 |
| 2020s | 9.53 Percentage of GDP | 8.25 Percentage of GDP | 10.65 Percentage of GDP | 4 |
Countries ranked near Singapore
More reference data data for Singapore
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.008 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 0.0066 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 0.0618 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 0.0618 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 0.0269 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 0.0096 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 0.0378 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 0.2664 (2050)
- Emission Totals - Emissions (N2O) - Burning - Crop residues 0 (1992)
- Emission Totals - Emissions (N2O) - Agricultural Soils 0.2567 (2050)
Frequently asked questions
- What is insurance indicators — penetration in Singapore?
- Insurance indicators — penetration in Singapore was 8.25 Percentage of GDP in 2023, according to Organisation for Economic Co-operation and Development.
- What is the highest insurance indicators — penetration recorded in Singapore?
- The highest recorded value was 10.65 Percentage of GDP in 2020.
- What is the lowest insurance indicators — penetration recorded in Singapore?
- The lowest recorded value was 4.26 Percentage of GDP in 2009.
- How does Singapore rank for insurance indicators — penetration?
- Singapore ranks 12th out of 52 countries with data for 2023.
- Is insurance indicators — penetration rising or falling in Singapore?
- Over the last ten years it is up 16.1%. The long-run trend across the full record is rising.
- Where does this Singapore 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 — 17 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.