Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Thailand
THAFCLOFILPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,493,905,898,393.05
Year-over-Year Change
187.41%
Date Range
1/1/2007 - 1/1/2024
Summary
This economic trend measures the outstanding deposits for life insurance at insurance corporations in Thailand. It provides insights into the utilization of financial services and the overall development of the life insurance industry 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, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Thailand trend tracks the total value of deposits held by insurance companies in Thailand for their life insurance products. This metric is a key indicator of the penetration and growth of the life insurance market within the broader financial services landscape.
Methodology
The data is collected by the Bank of Thailand through surveys and reports from insurance corporations operating in the country.
Historical Context
Policymakers and market analysts use this trend to assess the financial health and development of Thailand's life insurance sector and its contribution to the overall economy.
Key Facts
- Thailand's life insurance industry is the second-largest in Southeast Asia.
- The outstanding deposits for life insurance have grown steadily over the past decade.
- Life insurance is an important tool for financial security and wealth management in Thailand.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by insurance companies in Thailand for their life insurance products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the penetration and growth of the life insurance market, which is a key component of the overall financial services landscape in Thailand.
Q: How is this data collected or calculated?
A: The data is collected by the Bank of Thailand through surveys and reports from insurance corporations operating in the country.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the financial health and development of Thailand's life insurance sector and its contribution to the overall economy.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Bank of Thailand, but there may be occasional delays or limitations in coverage depending on reporting requirements.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Thailand (THAFCLOFILPXDC), retrieved from FRED.