Variant of North American Industry Classification System (NAICS) 2022 Version 1.0 for Energy sector

524 - Insurance carriers and related activities

This subsector comprises establishments primarily engaged in underwriting annuities, insurance policies and reinsurance, and the retailing of insurance and the provision of related services to policy holders. Industries are defined in terms of the type of risk being insured against, such as death, loss of employment due to age or disability, and property damage. Establishments that pool risk invest premiums to build up a portfolio of financial assets to be used against future claims. 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.

Variant of North American Industry Classification System (NAICS) 2022 Version 1.0 for Energy sector - Classification structure
Code Title
5241Insurance carriers Insurance carriers
5242Agencies, brokerages and other insurance related activities Agencies, brokerages and other insurance related activities
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