Insurance penetration rate in Kenya 2016-2020
As of 2020, the insurance penetration rate in Kenya decreased to 2.17 percent, down from 2.34 percent in the preceding year. It kept a descending tendency since 2016, when the indicator amounted to 2.78 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 2020.
