Life Insurance Premium Volume to GDP for Israel
DDDI09ILA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.20
Year-over-Year Change
4.08%
Date Range
1/1/1990 - 1/1/2020
Summary
The Life Insurance Premium Volume to GDP for Israel measures the ratio of life insurance premiums to the country's gross domestic product. This metric provides insight into the size and importance of the life insurance industry within the broader Israeli 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
This economic indicator tracks the level of life insurance premium payments in Israel as a percentage of its GDP. It offers insights into the development and penetration of the life insurance market and can be used to analyze trends in household savings, financial inclusion, and overall economic stability.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry sources.
Historical Context
Policymakers and financial analysts use this metric to assess the growth and maturity of Israel's insurance sector and its role in supporting economic development.
Key Facts
- Life insurance premiums accounted for 3.1% of Israel's GDP in 2020.
- The life insurance market in Israel has grown by over 50% in the past decade.
- Israel has one of the highest life insurance penetration rates in the Middle East region.
FAQs
Q: What does this economic trend measure?
A: The Life Insurance Premium Volume to GDP for Israel measures the ratio of life insurance premiums paid in the country to its overall gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the development and importance of the life insurance industry within the Israeli economy, which is useful for policymakers, financial analysts, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and insurance industry sources.
Q: How is this trend used in economic policy?
A: Policymakers and regulators use this indicator to assess the growth and maturity of Israel's insurance sector and its role in supporting broader economic development and financial inclusion.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a 1-2 year delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Israel (DDDI09ILA156NWDB), retrieved from FRED.