Nigeria: Life insurance volume
* indicates monthly or quarterly data series
| Nigeria |
Life insurance premium volume, percent of GDP |
|---|---|
| Latest value | 0.14 |
| Year | 2018 |
| Measure | percent |
| Data availability | 1993 - 2018 |
| Average | 0.07 |
| Min - Max | 0.03 - 0.14 |
| Source | Swiss Re |
The latest value from 2018 is 0.14 percent, an increase from 0.1 percent in 2017. In comparison, the world average is 1.56 percent, based on data from 147 countries. Historically, the average for Nigeria from 1993 to 2018 is 0.07 percent. The minimum value, 0.03 percent, was reached in 1995 while the maximum of 0.14 percent was recorded in 2018.
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Definition: Ratio of life insurance premium volume to GDP. Premium volume is the insurer's direct premiums earned (if Property/Casualty) or received (if Life/Health) during the previous calendar year. Premium data are taken from various issues of Sigma reports (Swiss Re). Data on GDP in US dollars is from the electronic version of the World Development Indicators.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Stock market capitalization, percent of GDP | 19.35 | 2022 | percent |
| Stock market capitalization, in dollars | 91.44 | 2022 | billion U.S. dollars |
| Stock market turnover ratio | 2.44 | 2022 | percent |
| Listed companies | 173 | 2022 | companies |
| Stock market value traded | 0.47 | 2022 | percent |
| Stock market return | 47.63 | 2021 | percent |
| Stock market access for smaller firms | 27.46 | 2018 | percent |
| Stock market activity for smaller firms | 21.31 | 2018 | percent |
| Stock price volatility | 15.66 | 2021 | percent |
| Mutual fund assets | 0.97 | 2020 | percent |
| Life insurance volume | 0.14 | 2018 | percent |
| Non-life insurance premium volume | 0.19 | 2018 | percent |
| Pension fund assets to GDP | 7.98 | 2020 | percent |
| Insurance company assets | 1.05 | 2019 | percent |
| Nonbank financial institutions assets to GDP | 5.62 | 2021 | percent |