The insurance penetration is a percentage ratio calculated by dividing the gross written insurance premium (GWP) to the gross domestic product (GDP) of a country (or other areas) for a certain time period (usually for one year). This ratio shows how much a given society allocates for covering the various risks which surround it, or in other words – the level of development of the insurance industry. The average IP of the European countries in 2018 was 7.46%, with more developed markets having a much higher insurance penetrationThe insurance penetration is a percentage... More (14.3% in the UK) and less developed ones – a much lower such (about 2% in Bulgaria).
As leasing assets are usually insured, the leasing industry strongly supports the insurance penetrationThe insurance penetration is a percentage... More in the insurance of the non-life segment.
