{"version":1,"asset_type":"statistical_series","data_type":"time_series","slug":"sg-life-insurance-penetration-gdp","url":"https://apiardata.com/statistics/sg-life-insurance-penetration-gdp","html_url":"https://apiardata.com/statistics/sg-life-insurance-penetration-gdp/","title":"Singapore Life Insurance Premium Penetration (% of GDP) (2023)","description":"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.","domain":"markets","category":"Financial Markets","keywords":["Financial Markets","OECD","Singapore","2023"],"publisher":"OECD","frequency":"Annual","geography":"Singapore","temporal_coverage":"2000/2023","unit":"% of GDP","last_updated":"2026-07-27","last_updated_text":"27 July 2026","data_as_of":"2023","variable_measured":"Singapore Life Insurance Premium Penetration (% of GDP)","license":"https://apiardata.com/data-license","is_accessible_for_free":true,"sources":[{"name":"OECD","url":"https://data-explorer.oecd.org/vis?fs[0]=Topic%2C0%7CFinancial+sector%23FIN%23&pg=0&fc=Topic&bp=true&snb=10"}],"meta":[{"label":"Frequency","value":"Annual"},{"label":"Coverage","value":"2000–2023"},{"label":"Observations","value":"17"},{"label":"Geography","value":"Singapore"},{"label":"Last updated","value":"27 July 2026"}],"kpis":[{"label":"Singapore (2023)","value":"6.4","unit":"% of GDP","trend":{"direction":"down","value":"-0.8pp YoY"}},{"label":"YoY Change","value":"-0.8pp","unit":"percentage points"},{"label":"Trend","value":"down","unit":""},{"label":"Series length","value":"17","unit":"years of data"}],"series":[{"key":"value","label":"Singapore Life Insurance Premium Penetration (% of GDP)"}],"observation_count":17,"observations":[{"period":"2000","value":5.253},{"period":"2001","value":9.101},{"period":"2004","value":6.271},{"period":"2009","value":3.785},{"period":"2010","value":5.06},{"period":"2011","value":5.054},{"period":"2012","value":4.905},{"period":"2013","value":5.345},{"period":"2014","value":5.892},{"period":"2015","value":6.118},{"period":"2016","value":6.333},{"period":"2017","value":7.142},{"period":"2019","value":6.88},{"period":"2020","value":8.723},{"period":"2021","value":8.66},{"period":"2022","value":7.219},{"period":"2023","value":6.415}],"table":{"columns":[{"key":"year","label":"Year"},{"key":"value","label":"% of GDP"},{"key":"yoyChange","label":"Change"}],"rows":[{"year":"2023","value":"6.4","yoyChange":"-0.8pp"},{"year":"2022","value":"7.2","yoyChange":"-1.5pp"},{"year":"2021","value":"8.7","yoyChange":"unchanged"},{"year":"2020","value":"8.7","yoyChange":"+1.8pp"},{"year":"2019","value":"6.9","yoyChange":"n/a"},{"year":"2017","value":"7.1","yoyChange":"+0.8pp"},{"year":"2016","value":"6.3","yoyChange":"+0.2pp"},{"year":"2015","value":"6.1","yoyChange":"+0.2pp"},{"year":"2014","value":"5.9","yoyChange":"+0.6pp"},{"year":"2013","value":"5.3","yoyChange":"+0.4pp"},{"year":"2012","value":"4.9","yoyChange":"-0.2pp"},{"year":"2011","value":"5.1","yoyChange":"unchanged"},{"year":"2010","value":"5.1","yoyChange":"+1.3pp"},{"year":"2009","value":"3.8","yoyChange":"n/a"},{"year":"2004","value":"6.3","yoyChange":"n/a"},{"year":"2001","value":"9.1","yoyChange":"+3.8pp"},{"year":"2000","value":"5.3","yoyChange":"n/a"}]},"qa":[{"question":"What does this indicator measure?","answer":"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."},{"question":"How current is this data?","answer":"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)."},{"question":"What is the long-term trend?","answer":"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."}]}