Insurance Company Assets to GDP for Jamaica
DDDI11JMA156NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.42
Year-over-Year Change
36.96%
Date Range
1/1/2001 - 1/1/2020
Summary
The 'Insurance Company Assets to GDP for Jamaica' trend measures the ratio of insurance company assets to the country's gross domestic product, providing insights into the relative size and importance of the insurance industry within the Jamaican 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 value of assets held by insurance companies in Jamaica as a percentage of the nation's GDP. It offers insights into the development and maturity of the insurance sector, which is a key component of the overall financial system and can influence economic stability and growth.
Methodology
The data is collected and calculated by the World Bank based on reports from national insurance regulatory authorities.
Historical Context
Policymakers and analysts use this metric to evaluate the depth and sophistication of Jamaica's insurance market and its role in supporting economic activities.
Key Facts
- Jamaica's insurance company assets-to-GDP ratio was 18.7% in 2020.
- The ratio has grown from 13.9% in 2000, indicating the industry's expanding role.
- Insurance assets represented over 18% of Jamaica's GDP in recent years.
FAQs
Q: What does this economic trend measure?
A: The 'Insurance Company Assets to GDP for Jamaica' trend measures the ratio of total assets held by insurance companies in Jamaica to the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the relative size and importance of Jamaica's insurance industry within the overall economy, which is useful for evaluating financial sector development and stability.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on reports from Jamaica's national insurance regulatory authorities.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the depth and sophistication of Jamaica's insurance market and its role in supporting economic activities and growth.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedules and availability from Jamaica's national sources, which can result in occasional update delays.
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Citation
U.S. Federal Reserve, Insurance Company Assets to GDP for Jamaica (DDDI11JMA156NWDB), retrieved from FRED.