Life insurance premium volume to GDP in South Korea
South Korea: Life insurance premium volume to GDP was 6.2% in 2020. ▼ Falling
Life insurance premium volume to GDP in South Korea, 1993–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
South Korea recorded 6.2% for life insurance premium volume to gdp in 2020.
The figure is up 1.5% on the previous year and down 1.4% over ten years.
Over the whole period, life insurance premium volume to gdp in South Korea peaked at 9.0% in 1997 and was at its lowest, 5.1%, in 2013.
That places South Korea 9th out of 162 countries with data for 2020, putting it in the top 10%.
The long-run direction has been consistently falling across the 28 years of available data.
Life insurance premium volume to GDP in South Korea, year by year
| Year | % | Change |
|---|---|---|
| 1993 | 7.6% | — |
| 1994 | 7.4% | -2.4% |
| 1995 | 8.1% | +8.4% |
| 1996 | 7.8% | -3.7% |
| 1997 | 9.0% | +16.2% |
| 1998 | 8.6% | -4.3% |
| 1999 | 7.9% | -8.5% |
| 2000 | 7.9% | +0.5% |
| 2001 | 6.7% | -15.7% |
| 2002 | 6.3% | -6.7% |
| 2003 | 6.0% | -3.8% |
| 2004 | 5.9% | -1.7% |
| 2005 | 6.4% | +8.5% |
| 2006 | 6.6% | +2.9% |
| 2007 | 6.9% | +4.3% |
| 2008 | 6.4% | -7.5% |
| 2009 | 6.4% | +0.2% |
| 2010 | 6.3% | -1.7% |
| 2011 | 6.4% | +1.6% |
| 2012 | 8.0% | +25.5% |
| 2013 | 5.1% | -35.7% |
| 2014 | 7.1% | +37.5% |
| 2015 | 7.1% | -0.1% |
| 2016 | 6.9% | -2.6% |
| 2017 | 6.2% | -9.8% |
| 2018 | 5.8% | -5.9% |
| 2019 | 6.1% | +4.3% |
| 2020 | 6.2% | +1.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 8.1% | 7.4% | 9.0% | 7 |
| 2000s | 6.6% | 5.9% | 7.9% | 10 |
| 2010s | 6.5% | 5.1% | 8.0% | 10 |
| 2020s | 6.2% | 6.2% | 6.2% | 1 |
Countries ranked near South Korea
More financial sector data for South Korea
- Net domestic credit (current LCU), per capita 96.84 million current LCU per person (2024)
- Net domestic credit (current LCU), per unit of GDP 2,672 current LCU per US$ of GDP (2024)
- Net domestic credit (current LCU), annual growth rate 5.54 % change on previous year (2024)
- Gold reserves at 35 SDRs per ounce 117.53 million SDR (2025)
- Gold reserves at market value 10.71 billion SDR (2025)
- Reserves excluding gold, foreign exchange 294.26 billion SDR (2025)
- Reserves excluding gold 308.07 billion SDR (2025)
- Total reserves (gold at market value) 318.78 billion SDR (2025)
- Total reserves (gold at national valuation) 311.57 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 6,028 SDR per person (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in South Korea?
- Life insurance premium volume to gdp in South Korea was 6.2% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in South Korea?
- The highest recorded value was 9.0% in 1997.
- What is the lowest life insurance premium volume to gdp recorded in South Korea?
- The lowest recorded value was 5.1% in 2013.
- How does South Korea rank for life insurance premium volume to gdp?
- South Korea ranks 9th out of 162 countries with data for 2020.
- Is life insurance premium volume to gdp rising or falling in South Korea?
- Over the last ten years it is down 1.4%. The long-run trend across the full record is falling.
- Where does this South Korea 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.