Use of Financial Services Deposit Accounts: Non-life Insurance Accounts at Insurance Corporations for Bangladesh
BGDFCAOFILNNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,143,213.00
Year-over-Year Change
-17.29%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the use of non-life insurance deposit accounts at insurance corporations in Bangladesh. It provides insights into the financial services activity within the country's insurance industry.
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 Deposit Accounts: Non-life Insurance Accounts at Insurance Corporations for Bangladesh series tracks the total value of deposit accounts held by insurance companies for non-life insurance products. This metric reflects the overall level of financial intermediation and insurance market development in the Bangladeshi economy.
Methodology
The data is collected and reported by the Bangladesh Bank, the central bank of Bangladesh.
Historical Context
This trend is used by economists and policymakers to analyze the growth and stability of Bangladesh's insurance sector and financial system.
Key Facts
- Bangladesh is one of the fastest-growing insurance markets in South Asia.
- Non-life insurance accounts make up over 40% of total insurance industry assets in Bangladesh.
- The Bangladeshi insurance sector has seen double-digit annual growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposit accounts held by insurance companies in Bangladesh for non-life insurance products, such as property, casualty, and liability coverage.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and financial intermediation of Bangladesh's insurance industry, which is a key component of the country's broader financial system and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangladesh Bank, the central bank of Bangladesh.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the health and growth of Bangladesh's insurance sector, which has important implications for financial stability, risk management, and overall economic development.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be occasional revisions or missing observations due to reporting challenges in emerging markets like Bangladesh.
Related Trends
Use of Financial Services: Key Indicators, Outstanding Deposits from All Microfinance Institutions (MFIs) for Bangladesh
BGDFCLODMFGGDPPT
Use of Financial Services: Number of Loan Accounts for Small and Medium Enterprises at Other Financial Intermediaries for Bangladesh
BGDFCNMSNUM
Lerner Index in Banking Market for Bangladesh
DDOI04BDA066NWDB
Use of Financial Services: Key Indicators, Depositors with Commercial Banks Per 1000 Adults for Bangladesh
BGDFCDODCANUM
Bank Deposits to GDP for Bangladesh
DDOI02BDA156NWDB
External Loans and Deposits of Reporting Banks in Relation to the Banking Sector for Bangladesh
DDOI10BDA156NWDB
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Non-life Insurance Accounts at Insurance Corporations for Bangladesh (BGDFCAOFILNNUM), retrieved from FRED.