Use of Financial Services Deposit Accounts: Non-life Insurance Accounts at Insurance Corporations for Colombia
COLFCAOFILNNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,961,539.00
Year-over-Year Change
25.86%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures the use of deposit accounts at insurance corporations for non-life insurance in Colombia. It provides insights into the financial services and savings behavior 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 Colombia' series tracks the number of deposit accounts held by insurance companies in Colombia for non-life insurance policies. This metric offers valuable information about the financial intermediation and savings patterns within the country's insurance sector.
Methodology
The data is collected and reported by the Central Bank of Colombia.
Historical Context
This trend is relevant for analyzing the depth and evolution of financial intermediation in Colombia's insurance industry.
Key Facts
- Colombia is a major economy in Latin America.
- The insurance industry is an important part of Colombia's financial sector.
- Tracking deposit accounts can provide insights into savings and financial intermediation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of deposit accounts held by insurance companies in Colombia for non-life insurance policies, providing insights into financial services usage in the insurance industry.
Q: Why is this trend relevant for users or analysts?
A: This trend offers valuable information about the depth of financial intermediation and savings patterns within Colombia's insurance sector, which is important for understanding the country's financial system.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Colombia.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers, economists, and market analysts to assess the level of financial intermediation and savings behavior in Colombia's insurance industry, which is relevant for financial stability and development policies.
Q: Are there update delays or limitations?
A: The data is reported by the Central Bank of Colombia, and may be subject to the same update schedules and limitations as other data from this source.
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Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Non-life Insurance Accounts at Insurance Corporations for Colombia (COLFCAOFILNNUM), retrieved from FRED.