Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Maldives
MDVFCDOFILPPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
803.00
Year-over-Year Change
1216.39%
Date Range
1/1/2012 - 1/1/2023
Summary
This economic trend measures the number of life insurance depositors at insurance corporations in Maldives. It provides insight into the use of financial services and the level of life insurance participation in the country.
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: Number of Life Insurance Depositors at Insurance Corporations for Maldives tracks the total number of individuals who have life insurance policies with insurance companies operating in Maldives. This metric is used by economists and policymakers to assess the development and penetration of the life insurance market.
Methodology
The data is collected directly from insurance corporations and regulators in Maldives.
Historical Context
This trend is relevant for analyzing the financial health and risk management practices of Maldivian households and businesses.
Key Facts
- Maldives has a population of over 530,000 people.
- The insurance industry in Maldives is growing rapidly.
- Life insurance penetration remains relatively low compared to global averages.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who have active life insurance policies with insurance companies operating in Maldives.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and penetration of the life insurance market in Maldives, which is an important indicator of household financial health and risk management.
Q: How is this data collected or calculated?
A: The data is collected directly from insurance companies and regulators in Maldives.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the growth and accessibility of life insurance products, which informs financial sector development strategies.
Q: Are there update delays or limitations?
A: There may be delays in reporting from some insurance providers, and the data does not capture informal or unregulated life insurance activities.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Life Insurance Depositors at Insurance Corporations for Maldives (MDVFCDOFILPPENUM), retrieved from FRED.