Non-Life Insurance Premium Volume to GDP for India
DDDI10INA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.65
Year-over-Year Change
14.14%
Date Range
1/1/1990 - 1/1/2018
Summary
The Non-Life Insurance Premium Volume to GDP for India measures the ratio of non-life insurance premiums to the country's gross domestic product. This metric provides insight into the development and penetration of the non-life insurance sector.
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 India's non-life insurance industry relative to the overall economy. It is used by policymakers and analysts to assess the growth and maturity of the insurance market, as well as its role in economic development.
Methodology
The data is calculated by the World Bank using reported non-life insurance premiums and GDP figures for India.
Historical Context
Monitoring this trend can inform insurance regulation, financial sector policies, and broader economic analysis.
Key Facts
- Non-life insurance premiums account for over 0.8% of India's GDP.
- India's non-life insurance sector has grown rapidly in recent decades.
- The non-life insurance premium to GDP ratio is a key indicator of insurance market maturity.
FAQs
Q: What does this economic trend measure?
A: The Non-Life Insurance Premium Volume to GDP for India measures the ratio of non-life insurance premiums to the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the development and penetration of the non-life insurance sector, which is an important component of the financial system and broader economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using reported non-life insurance premiums and GDP figures for India.
Q: How is this trend used in economic policy?
A: Monitoring this trend can inform insurance regulation, financial sector policies, and broader economic analysis in India.
Q: Are there update delays or limitations?
A: The World Bank publishes this data with a lag, so there may be a delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for India (DDDI10INA156NWDB), retrieved from FRED.