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 Global insurance Penetration Globally Insurance penetration is measured as the ratio of premium to Gross Domestic Product.Globally, insurance penetration stands at 6.2 per cent, while density is at $662 (Rs 42,103) for 2014
Among BRIC nations South Africa leads in insurance penetration with 15.4 %.Brazil ranks no 2 in terms of insurance penetration with 4%,followed by India at 3.4%,China 3% and Russia with 1.3% insurance rates.
Across Developed countries UK and Japan tops insurance penetration followed by UK with 11.5% and Japan 11%.Meanwhile France, Italy and US follows with 9%,7.6%and 7.5%
respectively. Canada and Germany stands at 6.5% , along with Australia’s insurance penetration of with 5.2%
South Africa and South Korea have the biggest insurance rates in the world with 15.4% and 11.9%
Insurance penetration across Top 20 Nations
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global insurance stands at 6%, S. Africa, S. Korea most insured with 15% penetration
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