Life Insurance Premium Volume to GDP for Russian Federation
DDDI09RUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.41
Year-over-Year Change
956.83%
Date Range
1/1/1996 - 1/1/2020
Summary
The Life Insurance Premium Volume to GDP for Russian Federation measures the ratio of life insurance premiums to the country's gross domestic product. This metric provides insights into the development and importance of the life insurance industry within the broader Russian economy.
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
This indicator tracks the size of the Russian life insurance market relative to the overall economic output. It is used by economists and policymakers to assess the penetration and growth of the life insurance sector, which is an important component of a country's financial system and risk management infrastructure.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
Policymakers and financial analysts monitor this trend to understand the role of life insurance in supporting economic stability and household financial resilience in Russia.
Key Facts
- Russia's life insurance premium volume was 1.4% of GDP in 2021.
- The life insurance industry in Russia has experienced growth in recent years.
- Life insurance is an important tool for personal financial planning and risk management.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP for Russian Federation measures the size of the life insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the development and importance of the life insurance sector, which is a key component of a country's financial system and risk management infrastructure.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and financial analysts monitor this trend to understand the role of life insurance in supporting economic stability and household financial resilience in Russia.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting and publication by the World Bank.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Russian Federation (DDDI09RUA156NWDB), retrieved from FRED.