Life Insurance Premium Volume to GDP for Guinea
DDDI09GNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.01
Year-over-Year Change
-14.80%
Date Range
1/1/2000 - 1/1/2013
Summary
The 'Life Insurance Premium Volume to GDP for Guinea' trend measures the ratio of life insurance premium volume to GDP in Guinea. This indicator provides insights into the development and penetration of the life insurance industry in the Guinean 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 'Life Insurance Premium Volume to GDP' metric tracks the relative size of the life insurance sector compared to the overall economy. It is used by economists and policymakers to assess the financial depth and risk management capabilities of a country's insurance market.
Methodology
This data is collected and calculated by the World Bank from national insurance regulatory authorities and statistical agencies.
Historical Context
Monitoring this trend can inform policy decisions around financial sector development and risk mitigation strategies.
Key Facts
- Life insurance premiums account for less than 1% of Guinea's GDP.
- Guinea has one of the lowest life insurance penetration rates in Africa.
- The Guinean life insurance market is dominated by a few state-owned providers.
FAQs
Q: What does this economic trend measure?
A: The 'Life Insurance Premium Volume to GDP for Guinea' trend measures the ratio of life insurance premium volume to the overall size of the Guinean economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and penetration of the life insurance industry, which is an important component of a country's financial sector and risk management capabilities.
Q: How is this data collected or calculated?
A: The data is collected by the World Bank from national insurance regulatory authorities and statistical agencies.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform policy decisions around financial sector development and risk mitigation strategies in the Guinean economy.
Q: Are there update delays or limitations?
A: The data may be subject to delays in reporting or limited availability from national sources.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Guinea (DDDI09GNA156NWDB), retrieved from FRED.