Use of Financial Services Deposit Accounts: Life Insurance Accounts at Insurance Corporations for Saudi Arabia
SAUFCAOFILPNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
439,880.00
Year-over-Year Change
458.91%
Date Range
1/1/2007 - 1/1/2023
Summary
This economic trend measures the total number of life insurance accounts held at insurance corporations in Saudi Arabia, providing insights into the usage of financial services deposit accounts 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 Deposit Accounts: Life Insurance Accounts at Insurance Corporations for Saudi Arabia series tracks the total number of life insurance accounts maintained by individuals and businesses with insurance companies operating in Saudi Arabia. This metric offers valuable information about the broader financial services landscape and consumer behavior in the Saudi Arabian economy.
Methodology
The data is collected through surveys and reports from insurance companies and regulatory authorities in Saudi Arabia.
Historical Context
This trend is widely used by policymakers, economists, and financial analysts to assess the development and utilization of the insurance and financial services sector in Saudi Arabia.
Key Facts
- Saudi Arabia is the largest insurance market in the Gulf Cooperation Council (GCC) region.
- Life insurance accounts for over 50% of the total insurance premiums in Saudi Arabia.
- The Saudi Arabian Monetary Authority (SAMA) is the primary regulator of the insurance industry in the country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of life insurance accounts held at insurance corporations operating in Saudi Arabia, providing insights into the usage of financial services deposit accounts in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend offers valuable information about the development and utilization of the insurance and financial services sector in Saudi Arabia, which is crucial for policymakers, economists, and financial analysts to assess the broader economic landscape.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reports from insurance companies and regulatory authorities in Saudi Arabia.
Q: How is this trend used in economic policy?
A: This trend is widely used by policymakers, economists, and financial analysts to monitor the growth and performance of the insurance and financial services industry in Saudi Arabia, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to reporting delays by insurance companies and regulatory authorities in Saudi Arabia, and can be influenced by changes in industry regulations and market conditions.
Related Trends
Value of Exports to Saudi Arabia from Hawaii
HISAUA052SCEN
Core Consumer Price Inflation for Saudi Arabia
SAUPCPICOREPCHPT
Value of Exports to Saudi Arabia from New Hampshire
NHSAUA052SCEN
Value of Exports to Saudi Arabia from North Carolina
NCSAUA052SCEN
Number of Identified Exporters to Saudi Arabia from District of Columbia
DCSAUA475SCEN
Number of Bank Branches for Saudi Arabia
DDAI02SAA643NWDB
Citation
U.S. Federal Reserve, Use of Financial Services Deposit Accounts: Life Insurance Accounts at Insurance Corporations for Saudi Arabia (SAUFCAOFILPNUM), retrieved from FRED.