Page 63 - Life Insurance Today July - December 2020
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INTERNATIONAL COMPARISON OF INSURANCE DENSITY
(In US $)
S. Country* 2018 2019
No. Life Non-Life Total Life Non-Life Total
America
1 USA 1,810 2,672 4,481 1,915 5,580 7,495
2 Canada 1,462 1,996 3,457 1,421 2,128 3,548
3 Brazil 186 159 345 196 155 351
4 Mexico 93 116 209 111 128 239
Europe-Middle East-Africa
5 France 2,370 1,296 3,667 2,413 1,306 3,719
6 Germany 1,161 1,747 2,908 1,222 1,712 2,934
7 Italy 2,110 742 2,852 2,039 725 2,764
8 Netherlands 913 3,977 4,890 832 3,990 4,822
9 Spain 732 857 1,588 654 854 1,508
10 Sweden 2,653 991 3,644 2,783 946 3,729
11 Switzerland 3,555 3,379 6,934 3,502 3,332 6,835
12 UK 3,532 971 4,503 3,383 978 4,362
13 Pakistan 10 4 14 8 4 12
14 Russia 50 114 164 43 113 157
15 South Africa 669 170 840 643 160 803
Asia Pacific
16 India# 55 19 74 58 19 78@
17 China 221 185 406 230 201 430
18 Japan# 2,629 837 3,466 2,691 930 3,621
19 Indonesia 58 18 76 58 24 82
20 Malaysia# 361 157 518 380 156 536
21 Singapore 3,944 1,014 4,958 3,844 1,028 4,872
22 South Korea# 1,898 1,567 3,465 1,822 1,544 3,366
23 Taiwan 4,320 841 5,161 4,129 865 4,993
24 Thailand 262 123 385 256 134 389
25 Sri Lanka 23 26 49 23 29 51
26 New Zealand 367 1,780 2,146 354 1,790 2,144
27 Australia 1,203 1,957 3,160 827 1,875 2,702
World 370 312 682 379 439 818
Source: Swiss Re, Sigma Volumes 3/2019 and 4/2020
Note: Insurance density is measured as ratio of premium (in US Dollar) to total population.
* Data pertains to the calendar year 2018 and 2019.
#Data pertains to financial year 2018-19 & 2019-20.
@Rounding off difference
Life Insurance Today July - December 2020 63
