Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Ecuador
ECUFCLOFINPXDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
507,804,000.00
Year-over-Year Change
1272.44%
Date Range
1/1/2004 - 1/1/2014
Summary
This economic trend measures the outstanding deposits for non-life insurance at insurance corporations in Ecuador. It provides insight into the utilization of financial services and can inform analysts and policymakers about the insurance industry's activity.
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 Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Ecuador tracks the total value of deposits held by insurance companies in Ecuador for non-life insurance policies. This metric offers a view into the financial behavior and liquidity of the insurance sector.
Methodology
The data is collected and reported by the Central Bank of Ecuador.
Historical Context
This trend is used by economists and financial analysts to assess the state of the insurance industry and its impact on the broader Ecuadorian economy.
Key Facts
- Ecuador's insurance industry accounts for approximately 2% of its GDP.
- Non-life insurance premiums make up over 60% of the total insurance market in Ecuador.
- The outstanding deposits for non-life insurance have grown by 15% over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits held by insurance companies in Ecuador for non-life insurance policies, providing insight into the financial activity and liquidity of the insurance sector.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists, financial analysts, and policymakers as it offers insights into the state of the insurance industry and its impact on the broader Ecuadorian economy.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Central Bank of Ecuador.
Q: How is this trend used in economic policy?
A: This trend is used by economists and financial analysts to assess the insurance industry's activity and its implications for the Ecuadorian economy, which can inform economic policies and regulatory decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Use of Financial Services, Liabilities: Outstanding Deposits for Non-life Insurance at Insurance Corporations for Ecuador (ECUFCLOFINPXDC), retrieved from FRED.