Use of Financial Services: Number of Non-life Insurance Depositors at Insurance Corporations for Albania
ALBFCDOFINPPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,442,947.00
Year-over-Year Change
48.53%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of non-life insurance depositors at insurance corporations in Albania. It provides insights into the utilization of financial services and the overall development of the insurance industry in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Use of Financial Services: Number of Non-life Insurance Depositors at Insurance Corporations for Albania' series tracks the total number of individuals or entities that hold non-life insurance policies with insurance companies operating in Albania. This metric is an important indicator of insurance market penetration and the public's engagement with risk management services.
Methodology
The data is collected through surveys and reports from insurance providers in Albania.
Historical Context
Policymakers and financial analysts use this trend to monitor the growth and accessibility of the insurance sector, which is a crucial component of a country's financial system.
Key Facts
- Albania had over 800,000 non-life insurance depositors in 2021.
- The number of non-life insurance depositors has grown by 25% over the past 5 years.
- The insurance industry accounts for around 2% of Albania's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals or entities that hold non-life insurance policies with insurance companies operating in Albania.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and utilization of the insurance sector, which is a crucial component of Albania's financial system and economic growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from insurance providers in Albania.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts use this trend to monitor the growth and accessibility of the insurance sector, which is important for financial stability and risk management.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be some discrepancies in reporting across insurance providers.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Non-life Insurance Depositors at Insurance Corporations for Albania (ALBFCDOFINPPENUM), retrieved from FRED.