Magazine date:
Nov 2021 Identity
| Population: 31 072 940 inhabitants |  |
| GDP: 72.354 billion USD | |
| GDP per inhabitant:2 328 USD | |
| GDP growth rate: 0.41% | |
| Inflation rate: 9.9% |
Data as of 31/12/2020, Source: World Bank
Read also | Insurance companies in Ghana [4]
Ghana insurance market: main indicators
| 2020 | |
| Turnover | 759 million USD |
| Penetration rate | 1.05% |
| Insurance density | 24 USD |
Ghana insurance market structure
Non-life | 29 |
Life | 20 |
Reinsurance companies | 3 |
| Total | 52 |
Insurance brokers | 93 |
Reinsurance brokers | 5 |
Total | 98 |
Data as of 31/12/2019, Source: National Insurance Commission (NIC)
National Insurance Commission (NIC) | www.nicgh.org [5] |
Ghana Insurers Association | www.ghanainsurers.org.gh [6] |
Ghana insurance market: premium evolution
Figures in million USD| Activities | 2016 | 2017 | 2018 | 2019 | 2020 |
Non life | 275 | 299 | 329 | 321 | 390 |
Life | 201 | 238 | 275 | 289 | 369 |
| Total | 476 | 537 | 604 | 610 | 759 |
Sources: Swiss Re Institute & National Insurance Commission (NIC)
Exchange rate as at 31/12/2016: 1 GHS = 0,23441 USD ; at 31/12/2017: 1 GHS = 0,22028 USD ; at 31/12/2018: 1 GHS = 0,20594 USD ; at 31/12/2019: 1 GHS = 0,17497 USD ; at 31/12/2020: 1 GHS = 0,17001 USD
Read also | Ghana insurance market: turnover per class of business [7]