Insurance penetration statistics show total insurance penetration as a percentage of gross domestic product. The figures below cover Australia, Austria, Belgium, Canada, and Colombia for each year from 2015 through 2024. They are reported in the OECD Global Insurance Statistics 2025 source label and describe total insurance penetration, rather than a single insurance line.
Contents
- What these insurance penetration statistics measure
- Australia and Austria
- Belgium
- Canada
- Colombia
- Cross-country comparison
What these insurance penetration statistics measure
The measurement in this series is a percentage of GDP. A value such as 5.6% means that the reported total insurance penetration for the named country and year was 5.6% of GDP. Each observation is tied to a specific calendar year, so the values should be read as annual country-level measurements rather than as a single current figure for an entire decade.
The source label attached to every observation is OECD Global Insurance Statistics 2025. The available figures are presented as reported historical values; they are not described as estimates or forecasts. The source provenance identifies this material as legacy research that was not independently verified, so the figures should retain that qualification when used in further analysis.
The five-country series also illustrates why a country name and measurement year belong beside every percentage. The countries occupy different levels in the supplied observations, and their paths over time are not identical. Belgium remains above the other four countries in every listed year, while Colombia remains below the other four in every listed year. Australia declines across the period, whereas Canada rises overall despite movement between individual years.
Australia and Austria
Australia’s total insurance penetration was 5.6% of GDP in 2015, then fell to 5.0% in 2016 and 4.5% in 2017. The series continued downward to 4.1% in 2018 and 3.7% in 2019. It was 3.3% in 2020, 3.1% in 2021, 3.1% in 2022, 3.1% in 2023, and 3.0% in 2024. These annual figures are from OECD Global Insurance Statistics 2025.
The Australia sequence has a clear direction in the supplied data: every listed year after 2015 is at or below the preceding year, with the only flat steps appearing from 2021 through 2023. The ten observations therefore move from 5.6% of GDP at the start of the period to 3.0% at the end. The year-specific values matter: the 3.1% readings in 2021, 2022, and 2023 are distinct annual observations, not one value repeated for an unspecified period.
Austria’s total insurance penetration was 5.1% of GDP in 2015, 4.8% in 2016, 4.6% in 2017, 4.5% in 2018, and 4.4% in 2019. It increased to 4.7% in 2020, then measured 4.5% in 2021, 4.3% in 2022, 4.3% in 2023, and 4.4% in 2024. OECD Global Insurance Statistics 2025 is the stated source for each Austria observation.
Austria differs from Australia in the shape of the supplied series. Austria’s lowest listed value is 4.3% of GDP, recorded in both 2022 and 2023, while Australia’s lowest is 3.0% in 2024. Austria also has a rise between 2019 and 2020, from 4.4% to 4.7%, followed by lower readings in 2021 and 2022. The 2024 Austrian value is 4.4%, matching its 2019 value in the reported series.
Belgium
Belgium’s total insurance penetration was 6.5% of GDP in 2015. It then measured 6.2% in 2016, 6.0% in 2017, 6.1% in 2018, and 6.1% in 2019. The reported value was 6.0% in 2020 and 6.2% in 2021, followed by 5.9% in 2022. Belgium then recorded 7.4% in 2023 and 7.5% in 2024. These figures are labeled OECD Global Insurance Statistics 2025.
Belgium has the highest annual value among the five countries in every year shown. Its lowest listed observation is 5.9% of GDP in 2022, while its highest is 7.5% in 2024. The two most recent observations in this series are therefore higher than the earlier 2015 value: 7.4% in 2023 and 7.5% in 2024, compared with 6.5% in 2015.
The annual path is not a smooth increase. Belgium moved down from 6.5% in 2015 to 6.0% in 2017, held at 6.1% in 2018 and 2019, and returned to 6.0% in 2020. It rose to 6.2% in 2021, dipped to 5.9% in 2022, and then reached the two highest values in the supplied Belgium series in 2023 and 2024. Keeping those years separate avoids replacing a changing annual record with a single period-wide description.
Canada
Canada’s total insurance penetration was 4.4% of GDP in 2015, 4.5% in 2016, 4.4% in 2017, and 4.5% in 2018. The figure increased to 6.1% in 2019 and 6.7% in 2020. It then measured 6.4% in 2021, 6.1% in 2022, 6.7% in 2023, and 7.0% in 2024. The source label for these observations is OECD Global Insurance Statistics 2025.
Canada’s first four listed values remain between 4.4% and 4.5% of GDP. The series then reaches 6.1% in 2019 and 6.7% in 2020. After the 2021 value of 6.4% and the 2022 value of 6.1%, the reported percentage returns to 6.7% in 2023 and rises to 7.0% in 2024. Canada’s highest observation in the supplied period is therefore the final year, while its lowest is 4.4%, recorded in 2015 and 2017.
Colombia
Colombia’s total insurance penetration was 2.7% of GDP in 2015 and 2.8% in each of 2016, 2017, 2018, and 2019. It measured 3.1% in 2020, 3.0% in 2021, 3.2% in 2022, 3.2% in 2023, and 3.3% in 2024. OECD Global Insurance Statistics 2025 is the stated source label for the Colombia series.
Colombia has the lowest annual value among the five countries in every year listed. Its lowest observation is 2.7% of GDP in 2015, and its highest is 3.3% in 2024. The four consecutive 2.8% observations from 2016 through 2019 form a stable portion of the supplied series, followed by a higher 3.1% reading in 2020. The value then dipped to 3.0% in 2021 before reaching 3.2% in 2022 and 2023 and 3.3% in 2024.
Cross-country comparison
The table compares the first and last reported years, along with the lowest and highest annual observation in the supplied decade. All entries are total insurance penetration as a percentage of GDP, and all are labeled OECD Global Insurance Statistics 2025.
| Country | 2015 | 2024 | Lowest listed value | Highest listed value |
|---|---|---|---|---|
| Australia | 5.6% | 3.0% | 3.0% (2024) | 5.6% (2015) |
| Austria | 5.1% | 4.4% | 4.3% (2022, 2023) | 5.1% (2015) |
| Belgium | 6.5% | 7.5% | 5.9% (2022) | 7.5% (2024) |
| Canada | 4.4% | 7.0% | 4.4% (2015, 2017) | 7.0% (2024) |
| Colombia | 2.7% | 3.3% | 2.7% (2015) | 3.3% (2024) |
The comparison shows three different broad patterns in the reported observations. Australia starts at 5.6% and ends at 3.0%, with the annual sequence declining or holding steady throughout. Austria starts at 5.1% and ends at 4.4%, with a temporary increase in 2020 and a later low of 4.3%. Belgium starts at 6.5% and ends at 7.5%, although its lowest listed value occurs in 2022. Canada starts at 4.4% and ends at 7.0%, after a marked shift from values around 4.4%–4.5% in 2015–2018 to values above 6.0% from 2019 onward. Colombia starts at 2.7% and ends at 3.3%, with a four-year run at 2.8% before the later higher readings.
For a same-year view, the 2024 values range from 3.0% of GDP in Australia to 7.5% in Belgium. Austria recorded 4.4%, Colombia recorded 3.3%, and Canada recorded 7.0% in that year. In 2015, the corresponding values were 5.6% for Australia, 5.1% for Austria, 6.5% for Belgium, 4.4% for Canada, and 2.7% for Colombia. These are reported country-year observations, so comparisons should keep the year and the percentage basis visible.
Across the complete 2015–2024 listing, the highest supplied country-year value is Belgium’s 7.5% of GDP in 2024. The lowest is Colombia’s 2.7% in 2015. The data also contain equal values within countries: Australia is at 3.1% in 2021, 2022, and 2023; Austria is at 4.3% in 2022 and 2023; Belgium is at 6.1% in 2018 and 2019; and Colombia is at 2.8% from 2016 through 2019. Canada’s repeated values include 4.4% in 2015 and 2017, 4.5% in 2016 and 2018, and 6.7% in 2020 and 2023.
These insurance penetration statistics are therefore best read as a structured annual record: five countries, ten measurement years, and one consistent percentage-of-GDP measure reported under the OECD Global Insurance Statistics 2025 label.