Variant of NAICS 2002 - Information and Communication Technology (ICT) Sector

52 - Finance and Insurance

This sector comprises establishments primarily engaged in financial transactions (that is, transactions involving the creation, liquidation, or change in ownership of financial assets) or in facilitating financial transactions. Included are:

* establishments that are primarily engaged in financial intermediation. They raise funds by taking deposits and/or issuing securities, and, in the process, incur liabilities, which they use to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale and risk.

* establishments that are primarily engaged in the pooling of risk by underwriting annuities and insurance. They collect fees (insurance premiums or annuity considerations), build up reserves, invest those reserves and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment.

* establishments that are primarily engaged in providing specialized services that facilitate or support financial intermediation, insurance and employee benefit programs.

In addition, establishments charged with monetary control - the monetary authorities - are included in this sector.

Variant of NAICS 2002 - Information and Communication Technology (ICT) Sector - Classification structure
Code Title
521Monetary Authorities - Central Bank Monetary Authorities - Central Bank
522Credit Intermediation and Related Activities Credit Intermediation and Related ActivitiesUS
523Securities, Commodity Contracts, and Other Financial Investment and Related Activities Securities, Commodity Contracts, and Other Financial Investment and Related Activities
524Insurance Carriers and Related Activities Insurance Carriers and Related Activities
526Funds and Other Financial Vehicles Funds and Other Financial VehiclesCAN
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