Life insurance premium volume to GDP (%) in Korea
Korea: Life insurance premium volume to GDP (%) was 6.2% in 2020. ▼ Falling
Life insurance premium volume to GDP in Korea, 1993–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
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 Korea peaked at 9.0% in 1997 and was at its lowest, 5.1%, in 2013.
That places 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 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% |
Korea compared with similar countries
- Korea's 6.2% is above the median for high income countries, which is 1.6%, 3.8× the median. (59 countries reporting)
- Korea's 6.2% is above the median for East Asia & Pacific, which is 1.4%, 4.5× the median. (20 countries reporting)
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 Korea
More financial sector data for Korea
- Reserve position in the IMF, US dollar, annual growth rate 6.29 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 58.67 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 1.21 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0012 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 42.84 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 6.29 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0016 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 58.67 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 1.21 % change on previous year (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in Korea?
- Life insurance premium volume to gdp in Korea was 6.2% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in Korea?
- The highest recorded value was 9.0% in 1997.
- What is the lowest life insurance premium volume to gdp recorded in Korea?
- The lowest recorded value was 5.1% in 2013.
- How does Korea rank for life insurance premium volume to gdp?
- Korea ranks 9th out of 162 countries with data for 2020.
- Is life insurance premium volume to gdp rising or falling in Korea?
- Over the last ten years it is down 1.4%. The long-run trend across the full record is falling.
- Where does this 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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CSV · JSON — 28 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.