Insurance, reinsurance and pension funding, except compulsory social security

NACE v2.0 Code: K65

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

NACE code 65 encompasses the insurance, reinsurance, and pension funding industries, excluding compulsory social security. These sectors play a vital role in the broader economy, providing risk management solutions, investment services, and retirement planning for individuals and businesses. As a highly regulated industry, the activities under NACE 65 are essential for financial stability, economic growth, and the well-being of communities.

Production process

The core production techniques in the insurance, reinsurance, and pension funding industries involve the underwriting and management of risk. This includes the assessment of risk factors, the pricing of insurance policies and pension plans, the investment of funds to generate returns, and the processing of claims and payouts. Insurance companies and pension funds utilize actuarial analysis, data analytics, and sophisticated risk modeling to ensure the solvency and sustainability of their operations.

Production inputs

The main inputs required for the NACE 65 industries include skilled personnel, such as actuaries, underwriters, claims adjusters, and investment managers. Additionally, these industries rely on robust information technology systems, data management infrastructure, and regulatory compliance frameworks. The availability of financial capital, both from premiums and investment returns, is also a critical input for the effective functioning of insurance, reinsurance, and pension funding activities.

Production outputs

The primary outputs of the NACE 65 industries are insurance policies, reinsurance contracts, and pension plans. These products and services are consumed by a wide range of other NACE codes, including 68 Real estate activities, 69 Legal and accounting activities, 70 Activities of head offices; management consultancy activities, and 84 Public administration and defence; compulsory social security. The insurance and pension funding industries also generate investment income, which can have a significant impact on the broader financial sector and the overall economy.

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 page shows a legacy version of code 65 ( NACE v2.0).

Related ISIC Codes

These isic codes are related to this econ code: (65).

ISIC code ISIC Version ISIC title
65ISIC v4.0Insurance, reinsurance and pension funding, except compulsory social security

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

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

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

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


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    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
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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