Market penetration refers to the ratio of insurance premiums to GDP. Penetration on the European domestic insurance market generally increased between 2004 and 2020. albeit with some fluctuation. The ratio is used as an indicator of insurance sector development, and it peaked in 2019 at 9.5 percent after six years of annual growth. The premiums ratio to GDP on the European market fell in 2020, to 6.8 percent.
Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe from 2004 to 2020
Characteristic
Total premiums to GDP ratio
2020
6.8%
2019
9.5%
2018
9.3%
2017
9.2%
2016
8.2%
2015
6.5%
2014
6.2%
2013
5.9%
2012
6.4%
2011
6.3%
2010
7.3%
2009
7.1%
2008
6.3%
0%2%4%6%8%10%12%
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The source adds further comments: "Total premiums to GDP, or the insurance penetration, is calculated as the ratio of gross written premiums to gross domestic product."
Data from 2004 to 2019 adjusted based on latest report.
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Insurance Europe. (August 5, 2022). Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe from 2004 to 2020 [Graph]. In Statista. Retrieved May 12, 2025, from https://www.statista.com/statistics/433054/insurance-premiums-to-gdp-ratio/
Insurance Europe. "Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe from 2004 to 2020." Chart. August 5, 2022. Statista. Accessed May 12, 2025. https://www.statista.com/statistics/433054/insurance-premiums-to-gdp-ratio/
Insurance Europe. (2022). Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe from 2004 to 2020. Statista. Statista Inc.. Accessed: May 12, 2025. https://www.statista.com/statistics/433054/insurance-premiums-to-gdp-ratio/
Insurance Europe. "Total Premiums to Gdp Ratio as Insurance Penetration Measure on The Domestic Market in Europe from 2004 to 2020." Statista, Statista Inc., 5 Aug 2022, https://www.statista.com/statistics/433054/insurance-premiums-to-gdp-ratio/
Insurance Europe, Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe from 2004 to 2020 Statista, https://www.statista.com/statistics/433054/insurance-premiums-to-gdp-ratio/ (last visited May 12, 2025)
Total premiums to GDP ratio as insurance penetration measure on the domestic market in Europe from 2004 to 2020 [Graph], Insurance Europe, August 5, 2022. [Online]. Available: https://www.statista.com/statistics/433054/insurance-premiums-to-gdp-ratio/
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