Non-Life Insurance Premium Volume to GDP for Senegal
DDDI10SNA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.64
Year-over-Year Change
-6.66%
Date Range
1/1/1996 - 1/1/2019
Summary
The 'Non-Life Insurance Premium Volume to GDP for Senegal' trend measures the ratio of non-life insurance premiums to the country's gross domestic product, providing insight into the relative size and importance of the non-life insurance sector in Senegal's 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 volume of non-life insurance premiums, which includes policies for property, liability, and personal accident coverage, as a percentage of Senegal's GDP. It offers a gauge of the development and maturity of the country's non-life insurance industry and its role in supporting broader economic activity.
Methodology
The data is collected and calculated by the World Bank using national accounts and insurance industry statistics.
Historical Context
Policymakers and analysts use this metric to assess the financial depth and risk management capacity within Senegal's economy.
Key Facts
- Senegal's non-life insurance premium to GDP ratio was 1.4% in 2020.
- The ratio has remained relatively stable over the past decade.
- Non-life insurance accounts for a smaller share of GDP in Senegal compared to more developed insurance markets.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the size of Senegal's non-life insurance sector relative to the overall economy, as measured by the ratio of non-life insurance premiums to GDP.
Q: Why is this trend relevant for users or analysts?
A: The non-life insurance premium to GDP ratio provides insight into the development and role of the insurance industry in supporting economic activity and risk management in Senegal.
Q: How is this data collected or calculated?
A: The World Bank collects this data using national accounts and insurance industry statistics from Senegal.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the financial depth and risk management capacity within Senegal's economy.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and may have a 1-2 year lag depending on data availability.
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Citation
U.S. Federal Reserve, Non-Life Insurance Premium Volume to GDP for Senegal (DDDI10SNA156NWDB), retrieved from FRED.