Non-Life Insurance Premium Volume to GDP for Brunei Darussalam
DDDI10BNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.45
Year-over-Year Change
55.97%
Date Range
1/1/1993 - 1/1/2020
Summary
This economic trend measures the ratio of non-life insurance premiums to GDP in Brunei Darussalam, providing insight into the size and importance of the non-life insurance industry within the country's overall 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
The non-life insurance premium volume to GDP ratio is a key indicator of the level of insurance market development and penetration. It helps economists and policymakers assess the role of risk management and risk transfer mechanisms in a country's economic and financial system.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry sources.
Historical Context
This trend is relevant for analyzing financial sector development and the relative importance of insurance activities in Brunei Darussalam's economy.
Key Facts
- Brunei's non-life insurance premium to GDP ratio was 1.3% in 2020.
- The ratio has remained relatively stable over the past decade.
- Non-life insurance plays a smaller role in Brunei's economy compared to many developed countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of non-life insurance premiums to GDP in Brunei Darussalam, providing insight into the size and importance of the non-life insurance industry within the country's overall economy.
Q: Why is this trend relevant for users or analysts?
A: The non-life insurance premium volume to GDP ratio is a key indicator of the level of insurance market development and penetration, which is relevant for analyzing financial sector development and the role of risk management mechanisms in Brunei's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the relative importance of insurance activities and the role of risk transfer mechanisms in Brunei Darussalam's overall economic and financial system.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a typical update delay of 1-2 years.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Brunei Darussalam (DDDI10BNA156NWDB), retrieved from FRED.