Non-life insurance premium volume to GDP in Nigeria
Nigeria: Non-life insurance premium volume to GDP was 0.2% in 2018. ▼ Falling
Non-life insurance premium volume to GDP in Nigeria, 1991–2018
Source: Sigma Reports, Swiss Re. Measured in %.
Analysis
Nigeria recorded 0.2% for non-life insurance premium volume to gdp in 2018.
Compared with earlier readings it is up 7.7% on the previous year and down 41.1% over ten years.
Over the whole period, non-life insurance premium volume to gdp in Nigeria peaked at 0.6% in 1995 and was at its lowest, 0.2%, in 2017.
Nigeria ranks 161st of 167 countries on this measure, in the bottom quarter.
The long-run direction has been consistently falling across the 28 years of available data.
Non-life insurance premium volume to GDP in Nigeria, year by year
| Year | % | Change |
|---|---|---|
| 1991 | 0.4% | — |
| 1992 | 0.4% | +4.3% |
| 1993 | 0.5% | +8.9% |
| 1994 | 0.4% | -7.8% |
| 1995 | 0.6% | +32.9% |
| 1996 | 0.5% | -9.4% |
| 1997 | 0.4% | -17.9% |
| 1998 | 0.3% | -20.9% |
| 1999 | 0.3% | +6.5% |
| 2000 | 0.3% | -6.5% |
| 2001 | 0.4% | +9.1% |
| 2002 | 0.3% | -6.5% |
| 2003 | 0.3% | -2.0% |
| 2004 | 0.3% | -11.4% |
| 2005 | 0.3% | +4.7% |
| 2006 | 0.3% | -6.0% |
| 2007 | 0.3% | -5.1% |
| 2008 | 0.3% | +19.6% |
| 2009 | 0.3% | +7.1% |
| 2010 | 0.3% | -18.0% |
| 2011 | 0.3% | -8.6% |
| 2012 | 0.3% | -2.8% |
| 2013 | 0.2% | -11.0% |
| 2014 | 0.2% | -9.0% |
| 2015 | 0.2% | -3.9% |
| 2016 | 0.2% | -8.3% |
| 2017 | 0.2% | -1.9% |
| 2018 | 0.2% | +7.7% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 0.4% | 0.3% | 0.6% | 9 |
| 2000s | 0.3% | 0.3% | 0.4% | 10 |
| 2010s | 0.2% | 0.2% | 0.3% | 9 |
Countries ranked near Nigeria
- 158 Libya 0.2% compare
- 159 Eritrea 0.2% compare
- 160 Kyrgyzstan 0.2% compare
- 162 Bangladesh 0.2% compare
- 163 Chad 0.1% compare
- 164 Equatorial Guinea 0.1% compare
More financial sector data for Nigeria
- Reserve position in the IMF, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve position in the IMF, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve position in the IMF, US dollar, per capita 1.01 units per person (2025)
- Reserve position in the IMF, SDR, annual growth rate 0 % change on previous year (2025)
- Reserve position in the IMF, SDR, per unit of GDP 0.0006 units per US$ of GDP (2025)
- Reserve position in the IMF, SDR, per capita 0.7387 units per person (2025)
- Reserve tranche position, US dollar, annual growth rate 5.01 % change on previous year (2025)
- Reserve tranche position, US dollar, per unit of GDP 0.0008 units per US$ of GDP (2025)
- Reserve tranche position, US dollar, per capita 1.01 units per person (2025)
- Reserve tranche position, SDR, annual growth rate 0 % change on previous year (2025)
Frequently asked questions
- What is non-life insurance premium volume to gdp in Nigeria?
- Non-life insurance premium volume to gdp in Nigeria was 0.2% in 2018, according to Sigma Reports, Swiss Re.
- What is the highest non-life insurance premium volume to gdp recorded in Nigeria?
- The highest recorded value was 0.6% in 1995.
- What is the lowest non-life insurance premium volume to gdp recorded in Nigeria?
- The lowest recorded value was 0.2% in 2017.
- How does Nigeria rank for non-life insurance premium volume to gdp?
- Nigeria ranks 161st out of 167 countries with data for 2018.
- Is non-life insurance premium volume to gdp rising or falling in Nigeria?
- Over the last ten years it is down 41.1%. The long-run trend across the full record is falling.
- Where does this Nigeria 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.