Life Insurance Premium Volume to GDP for India
DDDI09INA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.73
Year-over-Year Change
-29.29%
Date Range
1/1/1992 - 1/1/2018
Summary
The 'Life Insurance Premium Volume to GDP for India' trend measures the ratio of life insurance premiums to the country's gross domestic product, providing insight into the role of life insurance in the Indian 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 size of the life insurance industry relative to the overall Indian economy. It is an important metric for analyzing the financial health and penetration of the life insurance sector, as well as its contribution to economic growth.
Methodology
The data is calculated by the World Bank using official statistics on life insurance premiums and GDP.
Historical Context
Policymakers and industry analysts use this trend to assess the development of India's life insurance market and its alignment with broader economic conditions.
Key Facts
- India's life insurance premium to GDP ratio was 2.82% in 2020.
- The life insurance industry accounts for a significant portion of India's financial sector.
- Increasing life insurance penetration is a key objective for India's economic policymakers.
FAQs
Q: What does this economic trend measure?
A: The 'Life Insurance Premium Volume to GDP for India' trend measures the ratio of life insurance premiums to the country's gross domestic product, providing insight into the role of life insurance in the Indian economy.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for analyzing the financial health and penetration of the life insurance sector in India, as well as its contribution to the country's overall economic growth and development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official statistics on life insurance premiums and GDP.
Q: How is this trend used in economic policy?
A: Policymakers and industry analysts use this trend to assess the development of India's life insurance market and its alignment with broader economic conditions, informing policy decisions and industry strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent information being available.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for India (DDDI09INA156NWDB), retrieved from FRED.