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
Translation of the Code description
(2019-08-02)
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