global insurance stands at 6%, S. Africa, S. Korea most insured with 15% penetration

 

Global insurance Penetration

Globally Insurance penetration is  measured as the ratio of premium to Gross Domestic Product.Globally, insurance penetration stands at 6.2 per cent, while density is at $662 (Rs 42,103) for 2014

Among BRIC nations South Africa leads in insurance penetration with 15.4 %.Brazil ranks no 2 in terms of insurance penetration with 4%,followed by  India at 3.4%,China 3% and Russia with 1.3% insurance rates.

Across Developed countries  UK and Japan  tops  insurance penetration followed by UK with 11.5% and Japan 11%.Meanwhile France, Italy and US follows with 9%,7.6%and 7.5%

respectively. Canada  and Germany   stands at 6.5% , along with  Australia's insurance  penetration of  with 5.2%

South Africa and South Korea have the biggest insurance rates in  the world with 15.4% and 11.9%

Insurance penetration  across  Top 20 Nations

1. Australia:5.2%
2. Argentina:3.6 %
3. Brazil :4%
4. Canada:6.5%
5. Germany: 6.5%
6. India: 3.6%
7. Italy:7.6%
8. China:3.0%
9. Mexico 2.1 
10. Indonesia 2.1
11. South Africa:15.4%
12. South Korea: 11.9%
13. United Kingdom:11.5%
14. United States:9%
15. Turkey 1.5
16. Russia 1.3 
17. Argentina 3.6 
18. Mexico 2.1 
19. Indonesia 2.1
20. Turkey 1.5
21. Russia 1.3 

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