Non-life insurance premium volume to GDP in Republic of Korea
Republic of Korea: Non-life insurance premium volume to GDP was 4.6% in 2020. ▲ Rising
Non-life insurance premium volume to GDP in Republic of Korea, 1990–2020
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
The most recent figure for non-life insurance premium volume to gdp in Republic of Korea is 4.6%, measured in 2020.
Compared with earlier readings it is down 4.2% on the previous year and up 21.4% over ten years.
Over the whole period, non-life insurance premium volume to gdp in Republic of Korea peaked at 4.8% in 2019 and was at its lowest, 1.8%, in 1990.
That places Republic of Korea 3rd out of 167 countries with data for 2020, putting it in the top 10%.
The long-run direction has been consistently rising across the 31 years of available data.
Non-life insurance premium volume to GDP in Republic of Korea, year by year
| Year | % | Change |
|---|---|---|
| 1990 | 1.8% | — |
| 1991 | 1.9% | +9.1% |
| 1992 | 2.0% | +6.5% |
| 1993 | 2.1% | +3.3% |
| 1994 | 2.2% | +3.6% |
| 1995 | 2.4% | +11.9% |
| 1996 | 2.7% | +9.3% |
| 1997 | 2.9% | +9.7% |
| 1998 | 2.6% | -10.6% |
| 1999 | 2.4% | -7.6% |
| 2000 | 2.1% | -14.9% |
| 2001 | 2.6% | +24.4% |
| 2002 | 2.5% | -1.1% |
| 2003 | 2.5% | -2.5% |
| 2004 | 2.5% | -0.1% |
| 2005 | 2.6% | +4.5% |
| 2006 | 2.8% | +9.1% |
| 2007 | 3.0% | +6.1% |
| 2008 | 3.1% | +4.1% |
| 2009 | 3.5% | +12.3% |
| 2010 | 3.8% | +8.8% |
| 2011 | 4.3% | +11.9% |
| 2012 | 4.6% | +8.1% |
| 2013 | 3.5% | -24.6% |
| 2014 | 4.7% | +37.0% |
| 2015 | 4.7% | -1.5% |
| 2016 | 4.7% | +0.6% |
| 2017 | 4.7% | -0.8% |
| 2018 | 4.7% | -0.3% |
| 2019 | 4.8% | +3.5% |
| 2020 | 4.6% | -4.2% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 2.3% | 1.8% | 2.9% | 10 |
| 2000s | 2.7% | 2.1% | 3.5% | 10 |
| 2010s | 4.4% | 3.5% | 4.8% | 10 |
| 2020s | 4.6% | 4.6% | 4.6% | 1 |
Countries ranked near Republic of Korea
- 1 Barbados 5.1% compare
- 2 Luxembourg 4.8% compare
- 4 Antigua and Barbuda 4.2% compare
- 5 United States of America 3.4% compare
- 6 Canada 3.3% compare
More financial sector data for Republic of 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 non-life insurance premium volume to gdp in Republic of Korea?
- Non-life insurance premium volume to gdp in Republic of Korea was 4.6% in 2020, according to Sigma Reports, Swiss Re.
- What is the highest non-life insurance premium volume to gdp recorded in Republic of Korea?
- The highest recorded value was 4.8% in 2019.
- What is the lowest non-life insurance premium volume to gdp recorded in Republic of Korea?
- The lowest recorded value was 1.8% in 1990.
- How does Republic of Korea rank for non-life insurance premium volume to gdp?
- Republic of Korea ranks 3rd out of 167 countries with data for 2020.
- Is non-life insurance premium volume to gdp rising or falling in Republic of Korea?
- Over the last ten years it is up 21.4%. The long-run trend across the full record is rising.
- Where does this Republic of Korea 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.
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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.