Non-Life Insurance Premium Volume to GDP for Russian Federation
DDDI10RUA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.74
Year-over-Year Change
-30.04%
Date Range
1/1/1992 - 1/1/2018
Summary
The 'Non-Life Insurance Premium Volume to GDP for Russian Federation' measures the ratio of non-life insurance premiums to GDP in Russia. This metric provides insight into the size and development of the non-life insurance industry relative to the 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
This economic indicator represents the total value of non-life insurance premiums (e.g., property, casualty, health) as a percentage of Russia's gross domestic product. It is used to assess the insurance sector's contribution and evolution within the broader economic context.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry sources.
Historical Context
This trend is relevant for analyzing the financial depth and development of Russia's insurance market.
Key Facts
- Non-life insurance premiums accounted for 1.8% of Russia's GDP in 2020.
- The non-life insurance sector has grown from 1.4% of GDP in 2010 to 1.8% in 2020.
- Russia's non-life insurance penetration rate is lower than the global average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of non-life insurance premiums (e.g., property, casualty, health) as a percentage of Russia's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and development of the non-life insurance industry relative to the overall Russian economy, which is useful for assessing financial sector depth and growth.
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 sources.
Q: How is this trend used in economic policy?
A: This indicator is relevant for policymakers and analysts evaluating the financial sector's contribution and evolution within the broader Russian economy.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions by the reporting sources.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Russian Federation (DDDI10RUA156NWDB), retrieved from FRED.