Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Bangladesh
BGDFCDOFILPPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,657,778.00
Year-over-Year Change
-1.16%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the number of life insurance depositors at insurance corporations in Bangladesh. It provides insights into the utilization of financial services in the country's insurance sector.
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 Life Insurance Depositors at Insurance Corporations for Bangladesh' trend tracks the total number of individuals holding life insurance policies with insurance companies operating in Bangladesh. This metric offers valuable data on the breadth of life insurance coverage and financial inclusion within the country's population.
Methodology
The data is collected through surveys and reports from insurance providers and regulatory bodies in Bangladesh.
Historical Context
This trend is relevant for policymakers, economists, and financial analysts to assess the development and accessibility of the life insurance market in Bangladesh.
Key Facts
- Bangladesh has a population of over 165 million people.
- The life insurance penetration rate in Bangladesh is around 0.5% of GDP.
- The insurance industry in Bangladesh is largely underdeveloped compared to other South Asian countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals holding life insurance policies with insurance companies in Bangladesh.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the level of financial inclusion and the development of the life insurance market in Bangladesh, which is crucial for understanding the country's economic and social progress.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from insurance providers and regulatory bodies in Bangladesh.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the accessibility and penetration of life insurance services, which can inform policies aimed at promoting financial inclusion and the growth of the insurance sector in Bangladesh.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays or gaps, as the collection process relies on information from various insurance providers and regulatory sources in Bangladesh.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Bangladesh (BGDFCDOFILPPENUM), retrieved from FRED.