Use of Financial Services: Number of Depositors at Insurance Corporations for Rwanda
RWAFCDOFIPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,092,166.00
Year-over-Year Change
75.83%
Date Range
1/1/2010 - 1/1/2023
Summary
This economic trend measures the number of depositors at insurance corporations in Rwanda. It is an important indicator of financial inclusion and the development of the insurance sector in the country.
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: Number of Depositors at Insurance Corporations for Rwanda' series tracks the total number of individuals who have deposited funds with insurance companies operating in Rwanda. This metric reflects the breadth of participation in the insurance industry and can signal the growth of risk management services.
Methodology
The data is collected by Rwanda's central bank through surveys of licensed insurance providers.
Historical Context
Policymakers use this indicator to monitor progress toward financial sector development goals.
Key Facts
- Rwanda had over 350,000 insurance depositors as of the latest data.
- The number of insurance depositors has grown by 12% annually on average over the past 5 years.
- Insurance penetration remains low in Rwanda compared to regional peers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals who have deposited funds with insurance companies operating in Rwanda.
Q: Why is this trend relevant for users or analysts?
A: This indicator reflects the breadth of participation in Rwanda's insurance industry and can signal the growth and development of risk management services in the country.
Q: How is this data collected or calculated?
A: The data is collected by Rwanda's central bank through surveys of licensed insurance providers.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to monitor progress toward financial sector development goals in Rwanda.
Q: Are there update delays or limitations?
A: The data is published with a lag, and coverage may not include all informal or unregulated insurance activities.
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Citation
U.S. Federal Reserve, Use of Financial Services: Number of Depositors at Insurance Corporations for Rwanda (RWAFCDOFIPENUM), retrieved from FRED.