Page 62 - Life Insurance Today July - December 2020
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INTERNATIONAL COMPARISON OF INSURANCE PENETRATION
(In per cent)
S. Country* 2018 2019
No. Life Non-Life Total Life Non-Life Total
America
1 USA 2.88 4.26 7.14 2.92 8.51 11.43
2 Canada 3.16 4.32 7.48 3.07 4.60 7.67
3 Brazil 2.1 1.8 3.9 2.25 1.78 4.03
4 Mexico 0.99 1.24 2.23 1.13 1.29 2.42
Europe-Middle East-Africa
5 France 5.75 3.14 8.89 5.98 3.24 9.21
6 Germany 2.41 3.62 6.03 2.64 3.69 6.33
7 Italy 6.17 2.17 8.34 6.15 2.18 8.33
8 Netherlands 1.72 7.51 9.24 1.59 7.63 9.22
9 Spain 2.39 2.80 5.20 2.21 2.88 5.10
10 Sweden 4.91 1.84 6.75 5.39 1.83 7.22
11 Switzerland 4.32 4.10 8.42 4.3 4.09 8.38
12 UK 8.32 2.29 10.61 7.99 2.31 10.3
13 Pakistan 0.68 0.25 0.93 0.61 0.27 0.88
14 Russia 0.47 1.06 1.53 0.37 0.97 1.35
15 South Africa 10.27 2.62 12.89 10.73 2.67 13.4
Asia Pacific
16 India# 2.74 0.97 3.7 2.82 0.94 3.76
17 China 2.30 1.92 4.22 2.30 2.01 4.30
18 Japan# 6.72 2.14 8.86 6.69 2.31 9.00
19 Indonesia 1.49 0.47 1.95 1.41 0.58 1.99
20 Malaysia# 3.32 1.45 4.77 3.35 1.37 4.72
21 Singapore 6.22 1.6 7.82 5.96 1.59 7.55
22 South Korea# 6.12 5.05 11.16 5.84 4.95 10.78
23 Taiwan 17.48 3.4 20.88 16.51 3.46 19.97
24 Thailand 3.59 1.68 5.27 3.28 1.71 4.99
25 Sri Lanka 0.54 0.62 1.15 0.55 0.7 1.25
26 New Zealand 0.88 4.27 5.15 0.85 4.29 5.14
27 Australia 2.13 3.46 5.58 1.52 3.44 4.95
World 3.31 2.78 6.09 3.35 3.88 7.23
Source: Swiss Re, Sigma Volumes 3/2019 and 4/2020
Note: Insurance penetration is measured as ratio of premium (in US Dollars) to GDP (in US Dollars)
* Data pertains to the calendar year 2018 and 2019.
#Data pertains to financial year 2018-19 & 2019-20.
62 July - December 2020 Life Insurance Today
