Non-life insurance premium volume to GDP in Iceland
Iceland: Non-life insurance premium volume to GDP was 2.1% in 2020. ▼ Falling
Non-life insurance premium volume to GDP in Iceland, 1990–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
Iceland recorded 2.1% for non-life insurance premium volume to gdp in 2020.
The figure is up 1.0% on the previous year and down 10.9% over ten years.
Over the whole period, non-life insurance premium volume to gdp in Iceland peaked at 3.0% in 1992 and was at its lowest, 2.0%, in 2016.
That places Iceland 23rd out of 167 countries with data for 2020, putting it in the top quarter.
The long-run direction has been consistently falling across the 31 years of available data.
Non-life insurance premium volume to GDP in Iceland, year by year
| Year | % | Change |
|---|---|---|
| 1990 | 2.7% | — |
| 1991 | 2.9% | +8.9% |
| 1992 | 3.0% | +1.8% |
| 1993 | 2.8% | -4.5% |
| 1994 | 2.8% | -1.3% |
| 1995 | 2.6% | -6.0% |
| 1996 | 2.5% | -4.3% |
| 1997 | 2.3% | -9.1% |
| 1998 | 2.1% | -6.4% |
| 1999 | 2.2% | +4.3% |
| 2000 | 2.4% | +6.5% |
| 2001 | 2.5% | +6.6% |
| 2002 | 2.5% | +0.2% |
| 2003 | 2.6% | +3.2% |
| 2004 | 2.3% | -12.2% |
| 2005 | 2.2% | -3.1% |
| 2006 | 2.2% | +0.2% |
| 2007 | 2.3% | +3.0% |
| 2008 | 2.2% | -3.6% |
| 2009 | 2.4% | +8.9% |
| 2010 | 2.4% | -0.6% |
| 2011 | 2.3% | -3.2% |
| 2012 | 2.3% | +0.9% |
| 2013 | 2.2% | -5.9% |
| 2014 | 2.1% | -5.0% |
| 2015 | 2.0% | -4.4% |
| 2016 | 2.0% | -0.5% |
| 2017 | 2.1% | +5.7% |
| 2018 | 2.1% | +1.2% |
| 2019 | 2.1% | -0.8% |
| 2020 | 2.1% | +1.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.6% | 2.1% | 3.0% | 10 |
| 2000s | 2.4% | 2.2% | 2.6% | 10 |
| 2010s | 2.2% | 2.0% | 2.4% | 10 |
| 2020s | 2.1% | 2.1% | 2.1% | 1 |
Countries ranked near Iceland
More financial sector data for Iceland
- Net domestic credit (current LCU), per capita 11.64 million current LCU per person (2025)
- Net domestic credit (current LCU), per unit of GDP 118.35 current LCU per US$ of GDP (2025)
- Net domestic credit (current LCU), annual growth rate 4.25 % change on previous year (2025)
- Gold reserves at 35 SDRs per ounce 2.23 million SDR (2025)
- Gold reserves at market value 203.48 million SDR (2025)
- Reserves excluding gold, foreign exchange 4.94 billion SDR (2025)
- Reserves excluding gold 5.44 billion SDR (2025)
- Total reserves (gold at market value) 5.65 billion SDR (2025)
- Total reserves (gold at national valuation) 5.64 billion SDR (2025)
- Total reserves (gold at national valuation) (SDR), per capita 14,384 SDR per person (2025)
Frequently asked questions
- What is non-life insurance premium volume to gdp in Iceland?
- Non-life insurance premium volume to gdp in Iceland was 2.1% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest non-life insurance premium volume to gdp recorded in Iceland?
- The highest recorded value was 3.0% in 1992.
- What is the lowest non-life insurance premium volume to gdp recorded in Iceland?
- The lowest recorded value was 2.0% in 2016.
- How does Iceland rank for non-life insurance premium volume to gdp?
- Iceland ranks 23rd out of 167 countries with data for 2020.
- Is non-life insurance premium volume to gdp rising or falling in Iceland?
- Over the last ten years it is down 10.9%. The long-run trend across the full record is falling.
- Where does this Iceland data come from?
- The figures come from Sigma Reports, Swiss Re, published as part of Non-life insurance premium volume to GDP (%). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 31 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.