Non-Life Insurance Premium Volume to GDP for Bosnia and Herzegovina
DDDI10BAA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.53
Year-over-Year Change
10.62%
Date Range
1/1/2005 - 1/1/2019
Summary
This economic trend measures the ratio of non-life insurance premiums to GDP in Bosnia and Herzegovina. It provides insight into the size and development of the insurance sector 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
The non-life insurance premium volume to GDP ratio is an important indicator of insurance market penetration and financial sector development. It helps economists and policymakers assess the role of the insurance industry in supporting economic growth and risk management.
Methodology
The data is calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
Governments and regulators use this trend to evaluate the insurance market's contribution to economic stability and risk mitigation.
Key Facts
- Bosnia and Herzegovina's non-life insurance premium to GDP ratio was 2.2% in 2020.
- The ratio has increased from 1.8% in 2010, indicating gradual growth in the insurance sector.
- Insurance penetration in Bosnia and Herzegovina remains below the European Union average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the ratio of non-life insurance premiums to the gross domestic product (GDP) in Bosnia and Herzegovina. It provides an indicator of the size of the insurance industry relative to the overall economy.
Q: Why is this trend relevant for users or analysts?
A: The non-life insurance premium to GDP ratio is an important metric for assessing the development and penetration of the insurance sector, which plays a crucial role in supporting economic growth and managing risks.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data and insurance industry statistics from Bosnia and Herzegovina.
Q: How is this trend used in economic policy?
A: Governments and regulators use this trend to evaluate the insurance market's contribution to economic stability and risk mitigation, and to inform policy decisions aimed at fostering financial sector development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, and there may be a delay of up to two years in the most recent data availability.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Bosnia and Herzegovina (DDDI10BAA156NWDB), retrieved from FRED.