Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Albania
ALBFCLOFILPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,721,000,000.00
Year-over-Year Change
188.85%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding deposits for life insurance at insurance corporations in Albania. It provides insights into the use of financial services and the liabilities of the insurance sector.
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 Albania' series represents the total value of deposits held by insurance companies in Albania for life insurance policies. This metric is used by economists and policymakers to assess the size and activity of the insurance industry and its role in the broader financial system.
Methodology
The data is collected directly from insurance corporations operating in Albania.
Historical Context
This trend is relevant for analyzing the insurance market, household savings, and financial stability in Albania.
Key Facts
- Albania's insurance industry managed over $1 billion in life insurance deposits in 2021.
- The outstanding deposits for life insurance represent over 10% of Albania's GDP.
- Life insurance deposits have grown by an average of 8% annually 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 Albania for life insurance policies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the size and activity of Albania's insurance industry, which is important for assessing financial sector development and household savings.
Q: How is this data collected or calculated?
A: The data is collected directly from insurance corporations operating in Albania.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor the insurance market, financial stability, and household financial behavior in Albania.
Q: Are there update delays or limitations?
A: The data is published quarterly with a 3-month lag.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Albania (ALBFCLOFILPXDC), retrieved from FRED.