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NAICS Code 5241 Insurance Carriers

The NAICS Code 5241 is described as
Insurance Carriers
Description
This industry group comprises establishments primarily engaged in underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies and investing premiums to build up a portfolio of financial assets to be used against future claims. Direct insurance carriers are establishments that are primarily engaged in initially underwriting and assuming the risk of annuities and insurance policies. Reinsurance carriers are establishments that are primarily engaged in assuming all or part of the risk associated with an existing insurance policy (or set of policies) originally underwritten by another insurance carrier.
Industries are defined in terms of the type of risk being insured against, such as death, loss of employment because of age or disability, and property damage. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves.

(2019-08-02)

It belongs to the code group
NAICS Code 524 Insurance Carriers and Related Activities

To this Code "5241" belongs the sub codes
  • NAICS Code 52411: Direct Life, Health, and Medical Insurance Carriers
    (Direct Life, Health, and Medical Insurance Carriers)
  • NAICS Code 52412: Direct Insurance (except Life, Health, and Medical) Carriers
    (Direct Insurance (except Life, Health, and Medical) Carriers)
  • NAICS Code 52413: Reinsurance Carriers


The equivalent ISIC Code (Rev. 3.1) is
6601: Life insurance
  Activités d'assurances sur la vie

The nearest NACE Code (Rev. 1.1) is
66.01: Lebensversicherung - Lebensversicherung
66.01: Life insurance - Life insurance
66.01: Activités des assurances sur la vie
66.01: Assicurazioni sulla vita
66.01: Seguros de vida
66.01: Levensverzekeringen
66.01: Livsforsikring

The equivalent CPC Code (Rev. 1.1) is
xxxx: No Code defined

Translation of the Code description
5241: Insurance Carriers
(2019-08-02)

Alternative Spellings (synonyms): Carrier
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