Insurance indicators — Penetration in South Africa
South Africa: Insurance indicators — Penetration was 12.66 Percentage of GDP in 2023. ▼ Falling
Insurance indicators — Penetration in South Africa, 2010–2023
Source: Organisation for Economic Co-operation and Development. Measured in Percentage of GDP.
Analysis
The most recent figure for insurance indicators — penetration in South Africa is 12.66 Percentage of GDP, measured in 2023.
The figure is up 80.8% on the previous year and down 4.3% over ten years.
Over the whole period, insurance indicators — penetration in South Africa peaked at 13.28 Percentage of GDP in 2015 and was at its lowest, 7 Percentage of GDP, in 2022.
South Africa ranks 4th of 52 countries on this measure, in the top 10%.
The long-run direction has been consistently falling across the 10 years of available data.
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 12.79 Percentage of GDP | 12.04 Percentage of GDP | 13.28 Percentage of GDP | 6 |
| 2020s | 11.13 Percentage of GDP | 7 Percentage of GDP | 12.66 Percentage of GDP | 4 |
Countries ranked near South Africa
- 1 Luxembourg 32.99 Percentage of GDP compare
- 2 Hong Kong Special Administrative Region, People's Republic of China 18.53 Percentage of GDP compare
- 3 United States 12.68 Percentage of GDP compare
- 5 Sweden 12.38 Percentage of GDP compare
- 6 United Kingdom 11.75 Percentage of GDP compare
- 7 Ireland 11.69 Percentage of GDP compare
More reference data data for South Africa
- Emission Totals - Indirect emissions (N2O) - Manure applied to Soils 0.5111 (2050)
- Emission Totals - Indirect emissions (N2O) - Manure left on Pasture 8.71 (2050)
- Emission Totals - Indirect emissions (N2O) - IPCC Agriculture 13.63 (2050)
- Emission Totals - Indirect emissions (N2O) - Crop Residues 0.7468 (2050)
- Emission Totals - Indirect emissions (N2O) - Agricultural Soils 13.63 (2050)
- Emission Totals - Emissions (N2O) - Manure applied to Soils 1.71 (2050)
- Emission Totals - Emissions (N2O) - Manure Management 1.49 (2050)
- Emission Totals - Emissions (N2O) - Manure left on Pasture 41.1 (2050)
- Emission Totals - Emissions (N2O) - IPCC Agriculture 63.65 (2050)
- Emission Totals - Emissions (N2O) - Crop Residues 4.07 (2050)
Frequently asked questions
- What is insurance indicators — penetration in South Africa?
- Insurance indicators — penetration in South Africa was 12.66 Percentage of GDP in 2023, according to Organisation for Economic Co-operation and Development.
- What is the highest insurance indicators — penetration recorded in South Africa?
- The highest recorded value was 13.28 Percentage of GDP in 2015.
- What is the lowest insurance indicators — penetration recorded in South Africa?
- The lowest recorded value was 7 Percentage of GDP in 2022.
- How does South Africa rank for insurance indicators — penetration?
- South Africa ranks 4th out of 52 countries with data for 2023.
- Is insurance indicators — penetration rising or falling in South Africa?
- Over the last ten years it is down 4.3%. The long-run trend across the full record is falling.
- Where does this South Africa 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 — 10 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.