Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Saudi Arabia
SAUFCLOFILPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
806,713,289.49
Year-over-Year Change
1140.54%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend measures the outstanding deposits for life insurance at insurance corporations in Saudi Arabia. It provides insights into the use of financial services and liability levels in the country's 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 Life Insurance at Insurance Corporations for Saudi Arabia trend represents the total value of outstanding deposits held by insurance companies in Saudi Arabia for life insurance products. This metric is a key indicator of the scale and activity within the country's life insurance market.
Methodology
The data is collected and calculated by the Saudi Arabian Monetary Authority (SAMA).
Historical Context
This trend is relevant for policymakers and analysts examining the development of Saudi Arabia's insurance sector and its role in the broader financial system.
Key Facts
- Saudi Arabia is the largest insurance market in the Gulf Cooperation Council (GCC) region.
- The country's insurance industry has experienced significant growth in recent years.
- Life insurance accounts for a significant portion of the overall insurance market in Saudi Arabia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the outstanding deposits for life insurance products held by insurance corporations in Saudi Arabia.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the scale and activity of the life insurance market in Saudi Arabia, which is a key component of the country's financial services sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Saudi Arabian Monetary Authority (SAMA).
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the development and growth of Saudi Arabia's insurance industry and its role in the broader financial system.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedule of the Saudi Arabian Monetary Authority.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Saudi Arabia (SAUFCLOFILPXDC), retrieved from FRED.