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146 Economic Survey 2021-22

13 Pakistan 0.6 0.3 0.9 0.5 0.3 0.8
14 Russia 0.4 1.0 1.4 0.4 1.0 1.4
15 South Africa 10.7 2.7 13.4 11.2 2.5 13.7
Asia Pacific
16 India # 2.8 0.9 3.8 3.2 1.0 4.2

17 China 2.3 2.0 4.3 2.4 2.1 4.5
18 Japan # 6.7 2.3 9.0 5.8 2.4 8.1
19 Indonesia 1.4 0.6 2.0 1.4 0.5 1.9
20 Malaysia # 3.4 1.4 4.7 4.0 1.5 5.4
21 Singapore 6.0 1.6 7.6 7.6 1.9 9.5
22 South Korea # 5.8 5.0 10.8 6.4 5.2 11.6
23 Taiwan 16.5 3.5 20.0 14.0 3.4 17.4
24 Thailand 3.3 1.7 5.0 3.4 1.9 5.3

25 Sri Lanka 0.6 0.7 1.3 0.5 0.6 1.2
26 New Zealand 0.9 4.3 5.1 0.8 4.1 4.9
27 Australia 1.5 3.4 5.0 1.1 3.6 4.7
World 3.4 3.9 7.2 3.3 4.1 7.4
Source: Swiss Re, Sigma Volumes 4/2020 and 3/2021
Note: * Data pertains to the calendar year 2019 & 2020, # Data pertains to financial year 2019-20 & 2020-21, @
Rounding off difference

Table 18: International Comparison of Insurance Density (in US$)
2019 2020
S.No. Country*
Life Non-Life Total Life Non-Life Total
America

1 USA 1,915 5,580 7,495 1,918 5,754 7,673

2 Canada 1,421 2,128 3,548 1,532 2,243 3,775
3 Brazil 196 155 351 151 120 271

4 Mexico 111 128 239 99 116 214
Europe-Middle East-Africa

5 France 2,413 1,306 3,719 1,959 1,359 3,317
6 Germany 1,222 1,712 2,934 1,281 1,827 3,108

7 Italy 2,039 725 2,764 1,972 721 2,692

8 Netherlands 832 3,990 4,822 799 4,223 5,022
9 Spain 654 854 1,508 525 871 1,396

10 Sweden 2,783 946 3,729 2,993 945 3,938
11 Switzerland 3,502 3,332 6,835 3,667 3,557 7,224