Singapore Life Insurance Premium Penetration (% of GDP) (2023)
Singapore's Life Insurance Premium Penetration (% of GDP): 6.4 % of GDP in 2023, -0.8pp YoY. OECD (OECD.DAF.CM:DSD_INS@DF_IND), 2000–2023.
Singapore (2023)
6.4
% of GDP
-0.8pp YoY
YoY Change
-0.8pp
percentage points
Trend
down
Series length
17
years of data
Data
| Year | % of GDP | Change |
|---|---|---|
| 2023 | 6.4 | -0.8pp |
| 2022 | 7.2 | -1.5pp |
| 2021 | 8.7 | unchanged |
| 2020 | 8.7 | +1.8pp |
| 2019 | 6.9 | n/a |
| 2017 | 7.1 | +0.8pp |
| 2016 | 6.3 | +0.2pp |
| 2015 | 6.1 | +0.2pp |
| 2014 | 5.9 | +0.6pp |
| 2013 | 5.3 | +0.4pp |
| 2012 | 4.9 | -0.2pp |
| 2011 | 5.1 | unchanged |
| 2010 | 5.1 | +1.3pp |
| 2009 | 3.8 | n/a |
| 2004 | 6.3 | n/a |
| 2001 | 9.1 | +3.8pp |
| 2000 | 5.3 | n/a |
About this Dataset
Singapore recorded 6.4 % of GDP in 2023. The latest change was -0.8pp. Across 2000–2023 the series ranges from 3.8 in 2009 to 9.1 in 2001.
This page tracks life insurance gross written premiums as a share of GDP in Singapore from 2000 to present. Life insurance penetration measures the depth of long-term savings mobilisation through the insurance channel.
Data sourced from OECD via SDMX REST API. Values use harmonised methodology intended for cross-country comparison.
Frequently Asked Questions
This page tracks life insurance gross written premiums as a share of GDP in Singapore from 2000 to present. Life insurance penetration measures the depth of long-term savings mobilisation through the insurance channel. It is published by OECD and updated annually.
The most recent observation covers 2023. OECD typically publishes this series with a lag of several months after the reference period. The series runs 2000–2023 (17 observations).
The series peaked at 9.1 % of GDP in 2001 and reached its lowest recorded value of 3.8 in 2009. The latest reading of 6.4 in 2023 represents a change of -0.8pp.