Non-Life Insurance Premium Volume to GDP for United Arab Emirates
DDDI10AEA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.01
Year-over-Year Change
3.41%
Date Range
1/1/1990 - 1/1/2019
Summary
The 'Non-Life Insurance Premium Volume to GDP for United Arab Emirates' trend measures the size of the non-life insurance industry in the UAE relative to the country's overall economic output.
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 total volume of non-life insurance premiums, such as for property, casualty, and liability coverage, as a percentage of the UAE's gross domestic product. It provides insight into the development and significance of the non-life insurance sector within the broader UAE economy.
Methodology
The data is collected and calculated by the World Bank based on reports from national insurance regulators.
Historical Context
Economists and policymakers use this metric to assess the maturity and penetration of the UAE's insurance market.
Key Facts
- The UAE's non-life insurance premium volume was 1.79% of GDP in 2020.
- The non-life insurance sector has grown significantly in the UAE over the past decade.
- The UAE aims to develop its insurance industry as part of its economic diversification strategy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total volume of non-life insurance premiums, such as for property, casualty, and liability coverage, as a percentage of the UAE's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and significance of the non-life insurance sector within the broader UAE economy, which is of interest to economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from national insurance regulators.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the maturity and penetration of the UAE's insurance market, which is relevant for the country's economic diversification strategy.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, so there may be a delay of 1-2 years in the most recent figures.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for United Arab Emirates (DDDI10AEA156NWDB), retrieved from FRED.