Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Bangladesh
BGDFCLOFINPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,631,969,000.00
Year-over-Year Change
315.97%
Date Range
1/1/2004 - 1/1/2024
Summary
This economic trend measures the outstanding deposits for non-life insurance at insurance corporations in Bangladesh. It provides insight into the usage and growth of the insurance industry, which is a key indicator of financial sector development.
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 Non-life Insurance at Insurance Corporations for Bangladesh series tracks the total value of deposits held by insurance companies for non-life insurance policies. This metric helps analysts and policymakers understand the scale and penetration of the insurance market.
Methodology
The data is collected directly from insurance corporations and aggregated by the Bangladesh Bank.
Historical Context
Monitoring this trend is important for assessing the overall depth and stability of Bangladesh's financial system.
Key Facts
- Bangladesh's insurance industry has grown rapidly in recent decades.
- Non-life insurance accounts for a significant portion of the insurance market.
- Deposit values are a key metric of insurance industry size and maturity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits held by insurance companies in Bangladesh for non-life insurance policies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the scale and penetration of the insurance industry, which is an important indicator of financial sector development in Bangladesh.
Q: How is this data collected or calculated?
A: The data is collected directly from insurance corporations and aggregated by the Bangladesh Bank.
Q: How is this trend used in economic policy?
A: Monitoring this trend is important for assessing the overall depth and stability of Bangladesh's financial system, which is crucial for policymakers.
Q: Are there update delays or limitations?
A: The data is published with a short lag, and may be subject to minor revisions over time.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Bangladesh (BGDFCLOFINPXDC), retrieved from FRED.