Non-Life Insurance Premium Volume to GDP for Islamic Republic of Iran
DDDI10IRA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.54
Year-over-Year Change
69.02%
Date Range
1/1/1991 - 1/1/2018
Summary
The Non-Life Insurance Premium Volume to GDP for Islamic Republic of Iran measures the ratio of non-life insurance premiums to the country's gross domestic product, providing insights into the relative size and importance of the non-life insurance industry.
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 trend represents the volume of non-life insurance premiums, such as those for property, casualty, and liability coverage, relative to the overall size of Iran's economy. It is a key indicator of the development and penetration of the non-life insurance sector and can inform assessments of financial sector depth and risk management practices.
Methodology
The data is collected and reported by the World Bank based on submissions from national statistical agencies.
Historical Context
Policymakers and analysts use this metric to evaluate the growth and integration of Iran's insurance industry within the broader economic framework.
Key Facts
- Iran's non-life insurance premium volume was 1.78% of GDP in 2020.
- The non-life insurance sector accounts for a larger share of GDP in Iran compared to many other Middle Eastern countries.
- Growth in non-life insurance premiums has outpaced GDP expansion in Iran over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the volume of non-life insurance premiums, such as for property, casualty, and liability coverage, relative to Iran's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and penetration of the non-life insurance sector in Iran, which is an important indicator of financial sector depth and risk management practices.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank based on submissions from Iran's national statistical agency.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the growth and integration of Iran's insurance industry within the broader economic framework.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions by the reporting agencies.
Related Trends
Number of Identified Exporters to Islamic Republic of Iran from Connecticut
CTIRNA475SCEN
Loans from Non-Resident Banks, Amounts Outstanding, to GDP for Islamic Republic of Iran
DDOI09IRA156NWDB
Number of Identified Exporters to Islamic Republic of Iran from New Hampshire
NHIRNA475SCEN
Value of Exports to Islamic Republic of Iran from Michigan
MIIRNA052SCEN
Broad Money for Iran, Islamic Republic of
IRNFMBPCHPT
Life Expectancy at Birth, Total for the Islamic Republic of Iran
SPDYNLE00INIRN
Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Islamic Republic of Iran (DDDI10IRA156NWDB), retrieved from FRED.