As of 2019, the insurance penetration rate in Kenya decreased to 2.34 percent, down from 2.43 percent in the preceding year. It kept a descending tendency since 2015, when the indicator reached 2.75 percent. The rate shows how developed the insurance sector is in a specific country, relating the total amount of insurance premiums to the Gross Domestic Product (GDP). The average global insurance penetration was over seven percent in 2019.
Insurance penetration rate in Kenya from 2015 to 2019
The source adds the following information:
"Insurance penetration is defined as the ratio of gross direct premium to the gross domestic product (at current prices) in a given year for a given country or region".
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Insurance Regulatory Authority (Kenya). (September 30, 2019). Insurance penetration rate in Kenya from 2015 to 2019 [Graph]. In Statista. Retrieved November 30, 2021, from https://www.statista.com/statistics/1247304/insurance-penetration-rate-in-kenya/
Insurance Regulatory Authority (Kenya). "Insurance penetration rate in Kenya from 2015 to 2019." Chart. September 30, 2019. Statista. Accessed November 30, 2021. https://www.statista.com/statistics/1247304/insurance-penetration-rate-in-kenya/
Insurance Regulatory Authority (Kenya). (2019). Insurance penetration rate in Kenya from 2015 to 2019. Statista. Statista Inc.. Accessed: November 30, 2021. https://www.statista.com/statistics/1247304/insurance-penetration-rate-in-kenya/
Insurance Regulatory Authority (Kenya). "Insurance Penetration Rate in Kenya from 2015 to 2019." Statista, Statista Inc., 30 Sep 2019, https://www.statista.com/statistics/1247304/insurance-penetration-rate-in-kenya/
Insurance Regulatory Authority (Kenya), Insurance penetration rate in Kenya from 2015 to 2019 Statista, https://www.statista.com/statistics/1247304/insurance-penetration-rate-in-kenya/ (last visited November 30, 2021)
