Life Insurance Premium Volume to GDP for Islamic Republic of Iran
DDDI09IRA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.46
Year-over-Year Change
604.05%
Date Range
1/1/1992 - 1/1/2018
Summary
The 'Life Insurance Premium Volume to GDP for Islamic Republic of Iran' measures the proportion of GDP that is accounted for by life insurance premiums in Iran. This provides insight into the development and penetration of the life insurance industry in the Iranian 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 ratio of life insurance premiums to overall GDP in Iran. It is used by economists and policymakers to assess the growth and maturity of the domestic life insurance market and its integration with the broader financial system.
Methodology
The data is collected and reported by the World Bank as part of its Global Financial Development Database.
Historical Context
Trends in this metric can inform financial regulation, product development, and consumer protection policies related to the life insurance industry.
Key Facts
- Life insurance premiums account for around 0.5% of Iran's GDP.
- The life insurance industry in Iran is relatively underdeveloped compared to global standards.
- Growth in this metric could signal deepening financial inclusion and risk management in the Iranian economy.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the ratio of life insurance premiums to GDP in Iran, providing insight into the size and penetration of the domestic life insurance industry.
Q: Why is this trend relevant for users or analysts?
A: Trends in this metric can inform assessments of financial sector development, consumer risk management, and the potential for life insurance industry growth in the Iranian economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the World Bank as part of its Global Financial Development Database.
Q: How is this trend used in economic policy?
A: Policymakers and regulators can use this indicator to monitor the evolution of the life insurance industry and develop policies to foster its growth and consumer protection.
Q: Are there update delays or limitations?
A: As with many economic indicators, there may be lags in data reporting and potential limitations in coverage or methodology, which users should consider when interpreting the trends.
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Citation
U.S. Federal Reserve, Life Insurance Premium Volume to GDP for Islamic Republic of Iran (DDDI09IRA156NWDB), retrieved from FRED.