Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Bosnia and Herzegovina
BIHFCLOFILPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
877,623,023.82
Year-over-Year Change
196.52%
Date Range
1/1/2005 - 1/1/2024
Summary
This economic trend measures the outstanding deposits for life insurance at insurance corporations in Bosnia and Herzegovina. It provides insight into the utilization of financial services and 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 Bosnia and Herzegovina tracks the total value of deposits held by insurance companies for life insurance policies. This metric offers economists and policymakers a window into the financial health and activity of the insurance sector.
Methodology
The data is collected directly from insurance corporations operating in Bosnia and Herzegovina.
Historical Context
This trend is used to monitor the development of Bosnia and Herzegovina's insurance market and its integration with the broader financial system.
Key Facts
- Bosnia and Herzegovina has a population of around 3.3 million.
- The insurance sector accounts for approximately 2% of the country's GDP.
- Life insurance premiums have grown by an average of 8% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of outstanding deposits for life insurance policies held at insurance corporations in Bosnia and Herzegovina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and activity of Bosnia and Herzegovina's insurance industry, which is an important component of the country's financial system.
Q: How is this data collected or calculated?
A: The data is collected directly from insurance corporations operating in Bosnia and Herzegovina.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to monitor the development of the insurance market and its integration with the broader financial system in Bosnia and Herzegovina.
Q: Are there update delays or limitations?
A: The data is reported on a monthly basis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Life Insurance at Insurance Corporations for Bosnia and Herzegovina (BIHFCLOFILPXDC), retrieved from FRED.