Non-Life Insurance Premium Volume to GDP for Ireland
DDDI10IEA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.01
Year-over-Year Change
-27.77%
Date Range
1/1/1990 - 1/1/2019
Summary
The 'Non-Life Insurance Premium Volume to GDP for Ireland' series measures the ratio of non-life insurance premiums to the country's gross domestic product, providing insights into the importance of the non-life insurance industry to Ireland's overall economic activity.
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 economic indicator tracks the size of Ireland's non-life insurance sector relative to the broader economy. It is used by economists and policymakers to assess the development and role of the insurance industry in supporting economic growth and risk management.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
This metric informs discussions around financial sector development, risk management, and economic resilience.
Key Facts
- Ireland's non-life insurance premiums were 2.2% of GDP in 2020.
- The non-life insurance sector has grown steadily in Ireland over the past decade.
- This metric is used to benchmark Ireland's insurance industry against other countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the size of Ireland's non-life insurance industry relative to its overall economy, as represented by the ratio of non-life insurance premiums to GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the importance of the insurance sector in supporting economic activity and managing risks in Ireland. It is used by economists and policymakers to assess financial sector development and resilience.
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: This indicator informs discussions around financial sector development, risk management, and economic resilience, which are relevant for policymakers, investors, and analysts.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture all non-life insurance activities in the country.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Ireland (DDDI10IEA156NWDB), retrieved from FRED.