Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Dominican Republic
DOMFCLOFINPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,256,774,087.52
Year-over-Year Change
282.36%
Date Range
1/1/2004 - 1/1/2023
Summary
This economic trend measures outstanding deposits for non-life insurance at insurance corporations in the Dominican Republic. It provides insights into the use of financial services and the liability holdings of the 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
The 'Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Dominican Republic' trend represents the total value of deposits held by insurance companies in the Dominican Republic for non-life insurance products. This data point is used to analyze the financial health and intermediation role of the insurance sector.
Methodology
The data is collected through surveys of insurance companies operating in the Dominican Republic.
Historical Context
This trend is relevant for policymakers and analysts assessing the depth and development of the Dominican Republic's insurance and financial markets.
Key Facts
- The Dominican Republic has a population of over 10 million people.
- The insurance industry accounts for around 2% of the country's GDP.
- Deposits for non-life insurance have grown by 25% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by insurance companies in the Dominican Republic for non-life insurance products, such as property, casualty, and liability coverage.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the financial health and intermediation role of the Dominican Republic's insurance sector, which is an important component of the country's financial system.
Q: How is this data collected or calculated?
A: The data is collected through surveys of insurance companies operating in the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the depth and development of the Dominican Republic's insurance and financial markets, which can inform policies and regulations related to the financial sector.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, and the coverage may not include all insurance companies operating in the Dominican Republic.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Dominican Republic (DOMFCLOFINPXDC), retrieved from FRED.