Insurance Company Assets to GDP for Colombia
DDDI11COA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.12
Year-over-Year Change
50.27%
Date Range
1/1/1997 - 1/1/2020
Summary
This trend measures the ratio of insurance company assets to the gross domestic product (GDP) in Colombia. It provides insight into the size and importance of the insurance industry within the Colombian 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
The Insurance Company Assets to GDP ratio represents the total assets held by insurance companies in Colombia as a percentage of the country's GDP. This metric is used by economists and policymakers to assess the relative size and development of the insurance sector, which plays a crucial role in risk management and financial intermediation.
Methodology
The data is collected and calculated by the World Bank using official national accounts and insurance industry statistics.
Historical Context
This trend is relevant for analyzing the depth and growth of the financial sector in Colombia, as well as the insurance industry's contribution to economic activity.
Key Facts
- Colombia's insurance company assets to GDP ratio was 5.6% in 2020.
- The ratio has grown from 3.5% in 2000, indicating a expanding insurance industry.
- Insurance companies play a vital role in risk management and capital mobilization in the Colombian economy.
FAQs
Q: What does this economic trend measure?
A: The Insurance Company Assets to GDP ratio measures the total assets held by insurance companies in Colombia as a percentage of the country's gross domestic product.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size and development of the insurance industry within the Colombian economy, which is an important indicator of financial sector depth and economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using official national accounts and insurance industry statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the relative importance of the insurance sector and its contribution to the overall economy, which can inform financial sector regulations and economic development strategies.
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, Insurance Company Assets to GDP for Colombia (DDDI11COA156NWDB), retrieved from FRED.