Insurance penetration rate in Kenya 2016-2022
As of 2022, the insurance penetration rate in Kenya increased to 2.29 percent, up from 2.25 percent in the preceding year. Overall, it has followed a descending trend since 2016. 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 amounted to 6.7 percent in 2022.
