Insurance, reinsurance and pension funding, except compulsory social security

NACE v2.1 Code: L65

About insurance, reinsurance and pension funding, except compulsory social security

NACE code 65 covers the insurance, reinsurance, and pension funding industry, excluding compulsory social security. This industry plays a vital role in the broader economy by providing risk management solutions, financial security, and long-term investment opportunities for individuals and businesses. As a key component of the financial services sector, the industry's activities contribute significantly to economic stability and growth.

Production process

The core production techniques in the insurance, reinsurance, and pension funding industry involve the underwriting and management of risk. Insurance providers assess the likelihood and potential impact of various risks, then design and offer policies to protect individuals and organizations from those risks. Reinsurance companies further manage risk by providing insurance to the insurance providers themselves. Pension funds, on the other hand, collect and invest contributions to provide retirement income for their members.

Production inputs

The main inputs required for this industry include actuarial data, financial modeling software, and a skilled workforce of underwriters, actuaries, investment managers, and customer service professionals. Insurance companies also rely on a robust regulatory framework and a network of insurance brokers and agents to distribute their products.

Production outputs

The primary outputs of the insurance, reinsurance, and pension funding industry are insurance policies, reinsurance contracts, and pension fund management services. These outputs are consumed by a wide range of other NACE codes, including 64 Financial service activities, except insurance and pension funding, 68 Real estate activities, and 84 Public administration and defence; compulsory social security.

Revisions to 65

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 65. The most recent 1 version of this code (65) is in the NACE v2.1 system (this version):

This page shows the most recent version of code 65.

Family tree for insurance, reinsurance and pension funding, except compulsory social security

    graph LR
    A["<a href='/classifications/nace/v2-1/L'>L: FINANCIAL AND INSURANCE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2-1/L/65'>65: Insurance, reinsurance and pension funding, except compulsory social security</a>"]

    A --> C["<a href='/classifications/nace/v2-1/L/64'>64: Financial service activities, except insurance and pension funding</a>"]
A --> D["<a href='/classifications/nace/v2-1/L/66'>66: Activities auxiliary to financial services and insurance activities</a>"]

    B --> E["<a href='/classifications/nace/v2-1/L/65/1'>65.1: Insurance</a>"]
B --> F["<a href='/classifications/nace/v2-1/L/65/2'>65.2: Reinsurance</a>"]
B --> G["<a href='/classifications/nace/v2-1/L/65/3'>65.3: Pension funding</a>"]


    %% Color coordination by level

    classDef level1 color:#000,fill:#a8f9ff,stroke:#333,stroke-width:2px
    classDef level2 color:#000,fill:#e0a458,stroke:#333,stroke-width:1px
    classDef level3 color:#000,fill:#419d78,stroke:#333,stroke-width:1px
    classDef level4 color:#000,fill:#c04abc,stroke:#333,stroke-width:1px
    classDef level5 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef level6 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
    classDef highlight color:#000,fill:#fff,stroke:#000,stroke-width:5px



  %% Apply classes
  class A level1
class B level2
class C level2
class D level2
class E level3
class F level3
class G level3

  class B highlight

  %% class A level1
  %% class B,C level2
  %% class D,E,F,G,H,I level2
  %% class J,K,L,M,N,O,P level3
  %% class B highlight