Life insurance premium volume to GDP (%) in Iceland
Iceland: Life insurance premium volume to GDP (%) was 0.2% in 2020. ▲ Rising
Life insurance premium volume to GDP in Iceland, 1990–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
The most recent figure for life insurance premium volume to gdp in Iceland is 0.2%, measured in 2020.
The figure is up 10.0% on the previous year and up 11.5% over ten years.
Over the whole period, life insurance premium volume to gdp in Iceland peaked at 0.3% in 2003 and was at its lowest, 0.0%, in 1990.
That places Iceland 117th out of 162 countries with data for 2020, putting it in the middle of the range.
The long-run direction has been consistently rising across the 31 years of available data.
Life insurance premium volume to GDP (%) in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1990 | 0.0% | — |
| 1991 | 0.1% | +245.0% |
| 1992 | 0.1% | +24.1% |
| 1993 | 0.1% | +2.5% |
| 1994 | 0.1% | +0.6% |
| 1995 | 0.1% | +1.4% |
| 1996 | 0.2% | +87.7% |
| 1997 | 0.1% | -44.9% |
| 1998 | 0.1% | +15.4% |
| 1999 | 0.1% | +23.9% |
| 2000 | 0.2% | +25.9% |
| 2001 | 0.2% | +24.2% |
| 2002 | 0.3% | +14.8% |
| 2003 | 0.3% | +4.0% |
| 2004 | 0.3% | -4.6% |
| 2005 | 0.3% | -1.2% |
| 2006 | 0.2% | -11.1% |
| 2007 | 0.2% | -7.1% |
| 2008 | 0.2% | -11.1% |
| 2009 | 0.2% | +4.8% |
| 2010 | 0.2% | +0.1% |
| 2011 | 0.2% | -4.5% |
| 2012 | 0.2% | -2.7% |
| 2013 | 0.2% | -1.2% |
| 2014 | 0.2% | +0.8% |
| 2015 | 0.2% | +5.8% |
| 2016 | 0.2% | +4.3% |
| 2017 | 0.2% | +7.2% |
| 2018 | 0.2% | -6.7% |
| 2019 | 0.2% | -0.7% |
| 2020 | 0.2% | +10.0% |
Iceland compared with similar countries
- Iceland's 0.2% is below the median for high income countries, which is 1.6%, 14% of the median. (59 countries reporting)
- Iceland's 0.2% is below the median for Europe & Central Asia, which is 0.8%, 28% of the median. (44 countries reporting)
Biggest year-on-year movements
Years where Life insurance premium volume to GDP (%) in Iceland changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1991 | +245.0% | 0.0% | 0.1% |
| 1996 | +87.7% | 0.1% | 0.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.1% | 0.0% | 0.2% | 10 |
| 2000s | 0.2% | 0.2% | 0.3% | 10 |
| 2010s | 0.2% | 0.2% | 0.2% | 10 |
| 2020s | 0.2% | 0.2% | 0.2% | 1 |
Countries ranked near Iceland
- 114 Mozambique 0.2% compare
- 115 Uganda 0.2% compare
- 116 Gabon 0.2% compare
- 118 Dominican Republic 0.2% compare
- 119 Romania 0.2% compare
- 120 Costa Rica 0.2% compare
More financial sector data for Iceland
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 243.62 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0018 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 177.89 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0025 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 243.62 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in Iceland?
- Life insurance premium volume to gdp in Iceland was 0.2% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in Iceland?
- The highest recorded value was 0.3% in 2003.
- What is the lowest life insurance premium volume to gdp recorded in Iceland?
- The lowest recorded value was 0.0% in 1990.
- How does Iceland rank for life insurance premium volume to gdp?
- Iceland ranks 117th out of 162 countries with data for 2020.
- Is life insurance premium volume to gdp rising or falling in Iceland?
- Over the last ten years it is up 11.5%. The long-run trend across the full record is rising.
- Where does this Iceland 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.