South Africa Life Insurance Premium Penetration (% of GDP) (2023)
South Africa's Life Insurance Premium Penetration (% of GDP): 10.1 % of GDP in 2023, +6pp YoY. OECD (OECD.DAF.CM:DSD_INS@DF_IND), 2010–2023.
South Africa (2023)
10.1
% of GDP
+6pp YoY
YoY Change
+6pp
percentage points
Trend
up
Series length
10
years of data
Data
| Year | % of GDP | Change |
|---|---|---|
| 2023 | 10.1 | +6pp |
| 2022 | 4.1 | -6.1pp |
| 2021 | 10.2 | +0.2pp |
| 2020 | 10 | n/a |
| 2016 | 10.5 | -0.3pp |
| 2015 | 10.8 | -0.1pp |
| 2014 | 10.9 | +0.2pp |
| 2013 | 10.7 | n/a |
| 2011 | 9.5 | unchanged |
| 2010 | 9.5 | n/a |
About this Dataset
South Africa recorded 10.1 % of GDP in 2023. The latest change was +6pp. Across 2010–2023 the series ranges from 4.1 in 2022 to 10.9 in 2014.
This page tracks life insurance gross written premiums as a share of GDP in South Africa 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 South Africa 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 2010–2023 (10 observations).
The series peaked at 10.9 % of GDP in 2014 and reached its lowest recorded value of 4.1 in 2022. The latest reading of 10.1 in 2023 represents a change of +6pp.