Life insurance premium volume to GDP in Australia
Australia: Life insurance premium volume to GDP was 1.1% in 2020. ▼ Falling
Life insurance premium volume to GDP in Australia, 1993–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
The most recent figure for life insurance premium volume to gdp in Australia is 1.1%, measured in 2020. That is the lowest value across all 28 years on record.
That represents a change of down 28.9% on the previous year and down 65.6% over ten years.
Over the whole period, life insurance premium volume to gdp in Australia peaked at 5.8% in 1999 and was at its lowest, 1.1%, in 2020.
Australia ranks 61st of 162 countries on this measure, in the middle of the range.
The long-run direction has been consistently falling across the 28 years of available data.
Life insurance premium volume to GDP in Australia, year by year
| Year | % | Change |
|---|---|---|
| 1993 | 4.6% | — |
| 1994 | 5.3% | +14.7% |
| 1995 | 4.1% | -22.9% |
| 1996 | 4.2% | +3.8% |
| 1997 | 4.9% | +15.3% |
| 1998 | 5.6% | +15.9% |
| 1999 | 5.8% | +3.4% |
| 2000 | 5.8% | -1.1% |
| 2001 | 5.4% | -6.2% |
| 2002 | 4.7% | -13.3% |
| 2003 | 3.9% | -17.4% |
| 2004 | 3.9% | +1.0% |
| 2005 | 3.5% | -9.6% |
| 2006 | 3.6% | +2.3% |
| 2007 | 4.5% | +25.5% |
| 2008 | 2.3% | -50.0% |
| 2009 | 3.2% | +39.7% |
| 2010 | 3.1% | -1.5% |
| 2011 | 3.1% | -0.5% |
| 2012 | 2.9% | -8.1% |
| 2013 | 3.1% | +6.7% |
| 2014 | 3.9% | +26.8% |
| 2015 | 3.5% | -8.4% |
| 2016 | 3.0% | -14.9% |
| 2017 | 2.4% | -21.4% |
| 2018 | 2.1% | -10.5% |
| 2019 | 1.5% | -28.8% |
| 2020 | 1.1% | -28.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 4.9% | 4.1% | 5.8% | 7 |
| 2000s | 4.1% | 2.3% | 5.8% | 10 |
| 2010s | 2.9% | 1.5% | 3.9% | 10 |
| 2020s | 1.1% | 1.1% | 1.1% | 1 |
Countries ranked near Australia
More financial sector data for Australia
- Reserves excluding gold, foreign exchange (SDR), annual growth rate 8.19 % change on previous year (2025)
- Reserves excluding gold, foreign exchange (SDR), per unit of GDP 0.0183 SDR per US$ of GDP (2025)
- Reserves excluding gold, foreign exchange (SDR), per capita 1,189 SDR per person (2025)
- Reserves excluding gold (SDR), annual growth rate 8.62 % change on previous year (2025)
- Reserves excluding gold (SDR), per capita 1,642 SDR per person (2025)
- Total reserves (gold at market value) (SDR), annual growth rate 14.51 % change on previous year (2025)
- Total reserves (gold at market value) (SDR), per capita 1,921 SDR per person (2025)
- Total reserves (gold at national valuation) (SDR), annual growth rate 14.5 % change on previous year (2025)
- Total reserves (gold at national valuation) (SDR), per capita 1,921 SDR per person (2025)
- Total reserves in months of imports, annual growth rate 17.18 % change on previous year (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in Australia?
- Life insurance premium volume to gdp in Australia was 1.1% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in Australia?
- The highest recorded value was 5.8% in 1999.
- What is the lowest life insurance premium volume to gdp recorded in Australia?
- The lowest recorded value was 1.1% in 2020.
- How does Australia rank for life insurance premium volume to gdp?
- Australia ranks 61st out of 162 countries with data for 2020.
- Is life insurance premium volume to gdp rising or falling in Australia?
- Over the last ten years it is down 65.6%. The long-run trend across the full record is falling.
- Where does this Australia data come from?
- The figures come from Sigma Reports, Swiss Re, published as part of Life insurance premium volume to GDP (%). Statizoid updates them automatically from the source API.
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About this data
Premium data is taken from various issues of Sigma reports (Swiss Re). Data on GDP in US dollars is from the electronic version of the World Development Indicators.