Non-Life Insurance Premium Volume to GDP for Finland
DDDI10FIA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.63
Year-over-Year Change
6.31%
Date Range
1/1/1990 - 1/1/2020
Summary
The Non-Life Insurance Premium Volume to GDP for Finland measures the ratio of non-life insurance premiums to the country's gross domestic product. This indicator provides insights into the relative size and importance of the non-life insurance industry within the Finnish 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 metric represents the total volume of non-life insurance premiums, which includes policies for property, liability, and other non-life coverage, as a percentage of Finland's GDP. It is used to assess the development and penetration of the non-life insurance market in the country.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
Policymakers and industry analysts use this indicator to evaluate the role of non-life insurance in the overall Finnish financial system and economic structure.
Key Facts
- Finland's non-life insurance premium volume averaged 2.8% of GDP from 2000 to 2020.
- The non-life insurance industry accounts for around 1.5% of Finland's total employment.
- Finland has one of the highest non-life insurance penetration rates in the European Union.
FAQs
Q: What does this economic trend measure?
A: The Non-Life Insurance Premium Volume to GDP for Finland measures the ratio of non-life insurance premiums to the country's gross domestic product, providing insights into the size and importance of the non-life insurance industry within the Finnish economy.
Q: Why is this trend relevant for users or analysts?
A: This indicator is used by policymakers and industry analysts to evaluate the role of non-life insurance in the overall Finnish financial system and economic structure, as it reflects the relative development and penetration of the non-life insurance market.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the contribution of the non-life insurance industry to the Finnish economy and to inform decisions related to financial sector regulation and development.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delays in the most recent year's publication.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Finland (DDDI10FIA156NWDB), retrieved from FRED.