Life insurance premium volume to GDP in South Africa
South Africa: Life insurance premium volume to GDP was 10.8% in 2019. ▼ Falling
Life insurance premium volume to GDP in South Africa, 1994–2019
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
South Africa recorded 10.8% for life insurance premium volume to gdp in 2019.
That represents a change of up 13.6% on the previous year and down 7.8% over ten years.
Over the whole period, life insurance premium volume to gdp in South Africa peaked at 15.4% in 2000 and was at its lowest, 9.0%, in 1994.
That places South Africa 4th out of 162 countries with data for 2019, putting it in the top 10%.
The long-run direction has been consistently falling across the 25 years of available data.
Life insurance premium volume to GDP in South Africa, year by year
| Year | % | Change |
|---|---|---|
| 1994 | 9.0% | — |
| 1995 | 10.7% | +18.2% |
| 1996 | 10.5% | -1.9% |
| 1997 | 11.4% | +8.6% |
| 1998 | 14.5% | +27.9% |
| 1999 | 13.6% | -6.3% |
| 2000 | 15.4% | +13.0% |
| 2001 | 13.6% | -11.7% |
| 2002 | 14.3% | +5.0% |
| 2003 | 12.2% | -14.4% |
| 2004 | 10.2% | -16.8% |
| 2005 | 9.9% | -2.6% |
| 2006 | 11.7% | +18.1% |
| 2007 | 10.6% | -9.3% |
| 2008 | 11.1% | +4.6% |
| 2009 | 11.7% | +5.4% |
| 2010 | 9.4% | -19.2% |
| 2011 | 9.3% | -1.8% |
| 2012 | 9.9% | +6.4% |
| 2013 | 10.4% | +5.8% |
| 2014 | 10.6% | +2.0% |
| 2015 | 10.7% | +0.2% |
| 2016 | 10.2% | -4.4% |
| 2017 | 9.5% | -7.1% |
| 2019 | 10.8% | +13.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 11.6% | 9.0% | 14.5% | 6 |
| 2000s | 12.0% | 9.9% | 15.4% | 10 |
| 2010s | 10.1% | 9.3% | 10.8% | 9 |
Countries ranked near South Africa
- 1 Hong Kong, China 19.4% compare
- 2 Taiwan, China 13.6% compare
- 3 Macau, China 13.5% compare
- 5 United Kingdom of Great Britain and Northern Ireland 10.5% compare
- 6 Denmark 8.3% compare
- 7 Singapore 8.1% compare
More financial sector data for South Africa
- Reserve position in the IMF, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 13.81 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0.0607 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0015 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 10.08 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.08 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0021 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 13.81 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0.0607 % change on previous year (2025)
Frequently asked questions
- What is life insurance premium volume to gdp in South Africa?
- Life insurance premium volume to gdp in South Africa was 10.8% in 2019, according to Sigma Reports, Swiss Re.
- What is the highest life insurance premium volume to gdp recorded in South Africa?
- The highest recorded value was 15.4% in 2000.
- What is the lowest life insurance premium volume to gdp recorded in South Africa?
- The lowest recorded value was 9.0% in 1994.
- How does South Africa rank for life insurance premium volume to gdp?
- South Africa ranks 4th out of 162 countries with data for 2019.
- Is life insurance premium volume to gdp rising or falling in South Africa?
- Over the last ten years it is down 7.8%. The long-run trend across the full record is falling.
- Where does this South Africa 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.