South Africa Insurance Premium Penetration (% of GDP) (2023)
South Africa's Insurance Premium Penetration (% of GDP): 12.7 % of GDP in 2023, +5.7pp YoY. OECD (OECD.DAF.CM:DSD_INS@DF_IND), 2010–2023.
South Africa (2023)
12.7
% of GDP
+5.7pp YoY
YoY Change
+5.7pp
percentage points
Trend
up
Series length
10
years of data
Data
| Year | % of GDP | Change |
|---|---|---|
| 2023 | 12.7 | +5.7pp |
| 2022 | 7 | -5.5pp |
| 2021 | 12.5 | +0.1pp |
| 2020 | 12.4 | n/a |
| 2016 | 12.7 | -0.6pp |
| 2015 | 13.3 | +0.1pp |
| 2014 | 13.2 | unchanged |
| 2013 | 13.2 | n/a |
| 2011 | 12.2 | +0.2pp |
| 2010 | 12 | n/a |
About this Dataset
South Africa recorded 12.7 % of GDP in 2023. The latest change was +5.7pp. Across 2010–2023 the series ranges from 7 in 2022 to 13.3 in 2015.
This page tracks total insurance gross written premiums as a share of GDP in South Africa from 2000 to present. Insurance penetration is the primary measure of financial services sector development and household risk protection depth.
Data sourced from OECD via SDMX REST API. Values use harmonised methodology intended for cross-country comparison.
Frequently Asked Questions
This page tracks total insurance gross written premiums as a share of GDP in South Africa from 2000 to present. Insurance penetration is the primary measure of financial services sector development and household risk protection depth. 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 2010–2023 (10 observations).
The series peaked at 13.3 % of GDP in 2015 and reached its lowest recorded value of 7 in 2022. The latest reading of 12.7 in 2023 represents a change of +5.7pp.