Insurance penetration is measured as
the ratio of insurance premium to population
the percentage of insurance premium to GDP
the percentage of insurance premium to per capita income
the ratio of insurance premium to market capitalization
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This question was previously asked in
UPSC CBI DSP LDCE – 2023
– It is calculated as the ratio of total insurance premium underwritten in a given year to the Gross Domestic Product (GDP) of the country in the same year, expressed as a percentage. This indicates how much of the country’s economic output is spent on insurance premiums.