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52 Finance and Insurance

 52 Finance and Insurance

The Sector as a Whole

The Finance and Insurance sector comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions. Three principal types of activities are identified:

1. Raising funds by taking deposits and/or issuing securities and, in the process, incurring liabilities. Establishments engaged in this activity use raised funds 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. This activity is known as financial intermediation.

2. Pooling of risk by underwriting insurance and annuities. Establishments engaged in this activity 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.

3. Providing specialized services facilitating or supporting financial intermediation, insurance, and employee benefit programs.

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

The subsectors, industry groups, and industries within the NAICS Finance and Insurance sector are defined on the basis of their unique production processes. As with all industries, the production processes are distinguished by their use of specialized human resources and specialized physical capital. In addition, the way in which these establishments acquire and allocate financial capital, their source of funds, and the use of those funds provides a third basis for distinguishing characteristics of the production process. For instance, the production process in raising funds through deposit-taking is different from the process of raising funds in bond or money markets. The process of making loans to individuals also requires different production processes than does the creation of investment pools or the underwriting of securities.

Most of the Finance and Insurance subsectors contain one or more industry groups of (1) intermediaries with similar patterns of raising and using funds and (2) establishments engaged in activities that facilitate, or are otherwise related to, that type of financial or insurance intermediation. Industries within this sector are defined in terms of activities for which a production process can be specified, and many of these activities are not exclusive to a particular type of financial institution. To deal with the varied activities taking place within existing financial institutions, the approach is to split these institutions into components performing specialized services. This requires defining the units engaged in providing those services and developing procedures that allow for their delineation. These units are the equivalents for finance and insurance of the establishments defined for other industries.

The output of many financial services, as well as the inputs and the processes by which they are combined, cannot be observed at a single location and can only be defined at a higher level of the organizational structure of the enterprise. Additionally, a number of independent activities that represent separate and distinct production processes may take place at a single location belonging to a multilocation financial firm. Activities are more likely to be homogeneous with respect to production characteristics than are locations, at least in financial services. The classification defines activities broadly enough that it can be used both by those classifying by location and by those employing a more top-down approach to the delineation of the establishment.

Establishments engaged in activities that facilitate, or are otherwise related to, the various types of intermediation have been included in individual subsectors, rather than in a separate subsector dedicated to services alone because these services are performed by intermediaries, as well as by specialist establishments, the extent to which the activity of the intermediaries can be separately identified is not clear.

The Finance and Insurance sector has been defined to encompass establishments primarily engaged in financial transactions; that is, transactions involving the creation, liquidation, change in ownership of financial assets; or in facilitating financial transactions. Financial industries are extensive users of electronic means for facilitating the verification of financial balances, authorizing transactions, transferring funds to and from transactors' accounts, notifying banks (or credit card issuers) of the individual transactions, and providing daily summaries. Since these transaction processing activities are integral to the production of finance and insurance services, establishments that principally provide a financial transaction processing service are classified to this sector, rather than to the data processing industry in the Information sector.

Legal entities that hold portfolios of assets on behalf of others are significant and data on them are required for a variety of purposes. Thus for NAICS, these funds, trusts, and other financial vehicles are the fifth subsector of the Finance and Insurance sector. These entities earn interest, dividends, and other property income, but have little or no employment and no revenue from the sale of services. Separate establishments and employees devoted to the management of funds are classified in Industry Group 5239, Other Financial Investment Activities.

521 Monetary Authorities-Central Bank

 521 Monetary Authorities-Central Bank

The Monetary Authorities-Central Bank subsector groups establishments that engage in performing central banking functions, such as issuing currency, managing the Nation's money supply and international reserves, holding deposits that represent the reserves of other banks and other central banks, and acting as a fiscal agent for the central government.

 5211 Monetary Authorities-Central Bank

 52111 Monetary Authorities-Central Bank

See industry description for 521110 below.

 521110 Monetary Authorities-Central Bank

This industry comprises establishments primarily engaged in performing central banking functions, such as issuing currency, managing the Nation's money supply and international reserves, holding deposits that represent the reserves of other banks and other central banks, and acting as a fiscal agent for the central government.

Cross-References. Establishments of the Board of Governors of the Federal Reserve System are classified in Industry 921130, Public Finance Activities.
No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
2002
NAICS
1997
NAICS
1987
SIC
Corresponding Index Entries
5211105211106011Banking, central
5211105211106011Banks, Federal Reserve
5211105211106011Branches, Federal Reserve Bank
5211105211106011Central bank, monetary authorities
5211105211106011Check clearing activities of the central bank
5211105211106011Federal Reserve Banks or Branches
5211105211106011Financial transactions processing of the central bank
5211105211106011Monetary authorities, central bank


522 Credit Intermediation and Related Activities

 522 Credit Intermediation and Related Activities

Industries in the Credit Intermediation and Related Activities subsector group establishments that (1) lend funds raised from depositors; (2) lend funds raised from credit market borrowing; or (3) facilitate the lending of funds or issuance of credit by engaging in such activities as mortgage and loan brokerage, clearinghouse and reserve services, and check cashing services.

 5221 Depository Credit Intermediation

This industry group comprises establishments primarily engaged in accepting deposits (or share deposits) and in lending funds from these deposits. Within this group, industries are defined on the basis of differences in the types of deposit liabilities assumed and in the nature of the credit extended.

 52211 Commercial Banking

See industry description for 522110 below.

 522110 Commercial Banking

This industry comprises establishments primarily engaged in accepting demand and other deposits and making commercial, industrial, and consumer loans. Commercial banks and branches of foreign banks are included in this industry.

Cross-References.

  • Establishments primarily engaged in credit card banking are classified in Industry 522210, Credit Card Issuing;
  • Establishments known as industrial banks and primarily engaged in accepting deposits are classified in Industry 522190, Other Depository Credit Intermediation; and
  • Establishments of depository institutions primarily engaged in trust activities are classified in U.S. Industry 523991, Trust, Fiduciary, and Custody Activities.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    522110522110 Banks, commercial
    5221105221106081Branches of foreign banks
    522110522110 Commercial banking
    522110522110 Commercial banks
    522110522110 Depository trust companies
    5221105221106021National commercial banks
    5221105221106022State commercial banks


     52212 Savings Institutions

    See industry description for 522120 below.

     522120 Savings Institutions

    This U.S. industry comprises establishments primarily engaged in accepting time deposits, making mortgage and real estate loans, and investing in high-grade securities. Savings and loan associations and savings banks are included in this industry.

    Cross-References. Establishments primarily engaged in accepting demand and other deposits and making all types of loans are classified in Industry 522110, Commercial Banking.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    522120522120 Associations, savings and loan
    522120522120 Banks, savings
    5221205221206035Federal savings and loan associations (S&L)
    5221205221206035Federal savings banks
    522120522120 Institutions, savings
    522120522120 Mutual savings banks
    522120522120 Savings and loan associations (S&L)
    522120522120 Savings banks
    522120522120 Savings institutions
    522120522120 State savings and loan associations
    5221205221206036State savings banks


     52213 Credit Unions

    See industry description for 522130 below.

     522130 Credit Unions

    This industry comprises establishments primarily engaged in accepting members' share deposits in cooperatives that are organized to offer consumer loans to their members.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    522130522130 Corporate credit unions
    522130522130 Credit unions
    5221305221306061Federal credit unions
    5221305221306062State credit unions
    522130522130 Unions, credit


     52219 Other Depository Credit Intermediation

    See industry description for 522190 below.

     522190 Other Depository Credit Intermediation

    This industry comprises establishments primarily engaged in accepting deposits and lending funds (except commercial banking, savings institutions, and credit unions). Establishments known as industrial banks or Morris Plans and primarily engaged in accepting deposits, and private banks (i.e., unincorporated banks) are included in this industry.

    Cross-References.

  • Establishments primarily engaged in accepting demand and other deposits and making all types of loans are classified in Industry 522110, Commercial Banking;
  • Establishments primarily engaged in accepting time deposits are classified in Industry 522120, Savings Institutions;
  • Establishments primarily engaged in accepting members' share deposits in cooperatives are classified in Industry 522130, Credit Unions; and
  • Establishments known as industrial banks and Morris Plans and are primarily engaged in providing nondepository credit are classified in U.S. Industry 522298, All Other Nondepository Credit Intermediation.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5221905221906022Banks, industrial (i.e., known as), depository
    5221905221906022Banks, private (i.e., unincorporated)
    5221905221906022Industrial banks (i.e., known as), depository
    5221905221906022Morris Plans (i.e., known as), depository
    5221905221906022Plans, Morris (i.e., known as), depository
    5221905221906022Private banks (i.e., unincorporated)


     5222 Nondepository Credit Intermediation

    This industry group comprises establishments, both public (government-sponsored enterprises) and private, primarily engaged in extending credit or lending funds raised by credit market borrowing, such as issuing commercial paper or other debt instruments or by borrowing from other financial intermediaries. Within this group, industries are defined on the basis of the type of credit being extended.

     52221 Credit Card Issuing

    See industry description for 522210 below.

     522210 Credit Card Issuing

    This industry comprises establishments primarily engaged in providing credit by issuing credit cards. Credit card issuance provides the funds required to purchase goods and services in return for payment of the full balance or payments on an installment basis. Credit card banks are included in this industry.

    Cross-References. Establishments primarily engaged in issuing cards that contain a stored prepaid value are classified with the industry providing the service represented by the cards, such as transit fare cards, in Subsector 482, Rail Transportation, and long-distance telephone cards in Subsector 517, Telecommunications.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    522210522210 Banks, credit card
    5222105222106141Charge card issuing
    522210522210 Credit card banks
    522210522210 Credit card issuing
    522210522210 Issuing, credit card


     52222 Sales Financing

    See industry description for 522220 below.

     522220 Sales Financing

    This industry comprises establishments primarily engaged in sales financing or sales financing in combination with leasing. Sales financing establishments are primarily engaged in lending money for the purpose of providing collateralized goods through a contractual installment sales agreement, either directly from or through arrangements with dealers.

    Cross-References. Establishments not engaged in sales financing, but primarily engaged in providing leases for equipment and other assets are classified in Subsector 532, Rental and Leasing Services.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5222205222206159Automobile finance leasing companies
    5222205222206141Automobile financing
    5222205222206159Equipment finance leasing
    522220522220 Financing, sales
    5222205222206141Installment sales financing
    5222205222206159Leasing in combination with sales financing
    5222205222206159Machinery finance leasing
    522220522220 Sales financing
    5222205222206159Truck finance leasing


     52229 Other Nondepository Credit Intermediation

    This industry comprises establishments primarily engaged in making cash loans or extending credit through credit instruments (except credit cards and sales finance agreements).

    Cross-References. Establishments primarily engaged in--

     522291 Consumer Lending

    This U.S. industry comprises establishments primarily engaged in making unsecured cash loans to consumers.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5222915222916141Consumer finance companies (i.e., unsecured cash loans)
    5222915222916141Consumer lending
    5222915222916141Finance companies (i.e., unsecured cash loans)
    5222915222916141Loan companies (i.e., consumer, personal, small, student)
    5222915222916141Personal credit institutions (i.e., unsecured cash loans)
    5222915222916141Personal finance companies (i.e., unsecured cash loans)
    5222915222916141Small loan companies (i.e., unsecured cash loans)
    5222915222916141Student loan companies


     522292 Real Estate Credit

    This U.S. industry comprises establishments primarily engaged in lending funds with real estate as collateral.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5222925222926162Construction lending
    5222925222926159Farm mortgage lending
    5222925222926111Federal Land Banks
    5222925222926162Home equity credit lending
    5222925222926162Loan correspondents (i.e., lending funds with real estate as collaterial)
    5222925222926162Mortgage banking (i.e., nondepository mortgage lending)
    5222925222926162Mortgage companies
    5222925222926162Real estate credit lending
    5222925222926162Reverse mortgage lending


     522293 International Trade Financing

    This U.S. industry comprises establishments primarily engaged in providing one or more of the following: (1) working capital funds to U.S. exporters; (2) lending funds to foreign buyers of U.S. goods; and/or (3) lending funds to domestic buyers of imported goods.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5222935222936081Agencies of foreign banks (i.e., trade financing)
    5222935222936082Agreement corporations (i.e., international trade financing)
    5222935222936111Banks, trade (i.e., international trade financing)
    5222935222936082Edge Act corporations (i.e., international trade financing)
    5222935222936159Export trading companies (i.e., international trade financing)
    5222935222936111Export-Import banks
    5222935222936159International trade financing
    5222935222936159Trade banks (i.e., international trade financing)
    5222935222936081Trade financing, international


     522294 Secondary Market Financing

    This U.S. industry comprises establishments primarily engaged in buying, pooling, and repackaging loans for sale to others on the secondary market.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5222945222946111Federal Agricultural Mortgage Corporation
    5222945222946111Federal Home Loan Mortgage Corporation (FHLMC)
    5222945222946111Federal Intermediate Credit Bank
    5222945222946111Federal National Mortgage Association (FNMA)
    5222945222946111FHLMC (Federal Home Loan Mortgage Corporation)
    522294522294 Financing, secondary market
    5222945222946111FNMA (Federal National Mortgage Association)
    5222945222946111GNMA (Government National Mortgage Association)
    5222945222946111Government National Mortgage Association (GNMA)
    5222945222946111Government-sponsored enterprises providing secondary market financing
    5222945222946159Real estate mortgage investment conduits (REMICs) issuing, private
    5222945222946159REMICs (real estate mortgage investment conduits) issuing, private
    5222945222946111Repackaging loans for sale to others (i.e., private conduits)
    522294522294 Secondary market financing (i.e., buying, pooling, repackaging loans for sale to
    5222945222946111SLMA (Student Loan Marketing Association)
    5222945222946111Student Loan Marketing Association (SLMA)


     522298 All Other Nondepository Credit Intermediation

    This U.S. industry comprises establishments primarily engaged in providing nondepository credit (except credit card issuing, sales financing, consumer lending, real estate credit, international trade financing, and secondary market financing). Examples of types of lending in this industry are: short-term inventory credit, agricultural lending (except real estate and sales financing) and consumer cash lending secured by personal property.

    Cross-References.

  • Establishments primarily engaged in providing credit sales funding are classified in Industry 522210, Credit Card Issuing;
  • Establishments primarily engaged in sales financing or sales financing in combination with leasing are classified in Industry 522220, Sales Financing;
  • Establishments primarily engaged in making unsecured cash loans to consumers are classified in U.S. Industry 522291, Consumer Lending;
  • Establishments primarily engaged in lending funds with real estate as collateral are classified in U.S. Industry 522292, Real Estate Credit;
  • Establishments primarily engaged in international trade financing are classified in U.S. Industry 522293, International Trade Financing;
  • Establishments primarily engaged in buying, pooling, and repackaging loans for sale to others on the secondary market are classified in U.S. Industry 522294, Secondary Market Financing; and
  • Establishments known as industrial banks or Morris Plans and are primarily engaged in accepting deposits are classified in Industry 522190, Other Depository Credit Intermediation.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5222985222986159Agricultural credit institutions, making loans or extending credit (except real e
    5222985222986159Agricultural lending (except real estate, sales financing)
    5222985222986141Banks, industrial (i.e., known as), nondepository
    5222985222986111Commodity Credit Corporation
    5222985222986082Edge Act corporations (except international trade financing)
    5222985222986153Factoring accounts receivable
    5222985222986019Federal Home Loan Banks (FHLB)
    5222985222986141Industrial banks (i.e., known as), nondepository
    5222985222986141Industrial loan companies, nondepository
    5222985222986141Morris Plans (i.e., known as), nondepository
    5222985222986019National Credit Union Administration (NCUA)
    5222985222985932Pawnshops
    5222985222986141Plans, Morris (i.e., known as), nondepository
    5222985222986153Purchasing of accounts receivable
    5222985222986153Short-term inventory credit lending


     5223 Activities Related to Credit Intermediation

    This industry group comprises establishments primarily engaged in facilitating credit intermediation by performing activities, such as arranging loans by bringing borrowers and lenders together and clearing checks and credit card transactions.

     52231 Mortgage and Nonmortgage Loan Brokers

    See industry description for 522310 below.

     522310 Mortgage and Nonmortgage Loan Brokers

    This industry comprises establishments primarily engaged in arranging loans by bringing borrowers and lenders together on a commission or fee basis.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5223105223106163Agencies, loan
    5223105223106163Brokerages, loan
    5223105223106163Brokerages, mortgage
    5223105223106163Brokers' offices, loan
    5223105223106163Brokers' offices, mortgage
    5223105223106163Loan brokerages
    5223105223106163Loan brokers' or agents' offices (i.e., independent)
    5223105223106163Mortgage brokerages
    5223105223106163Mortgage brokers' or agents' offices (i.e., independent)


     52232 Financial Transactions Processing, Reserve, and Clearinghouse Activities

    See industry description for 522320 below.

     522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities

    This industry comprises establishments primarily engaged in providing one or more of the following: (1) financial transaction processing (except central bank); (2) reserve and liquidity services (except central bank); and/or (3) check or other financial instrument clearinghouse services (except central bank).

    Cross-References.

  • Establishments primarily engaged in nonfinancial data and electronic transaction processing are classified in Industry Group 5182, Data Processing, Hosting, and Related Services; and
  • Establishments of the central bank primarily engaged in check clearing and other financial transaction processing are classified in Industry 521110, Monetary Authorities-Central Bank.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5223205223206099Automated clearinghouses, bank or check (except central bank)
    5223205223206099Bank clearinghouse associations
    5223205223206099Check clearing services (except central banks)
    5223205223206099Check clearinghouse services (except central banks)
    5223205223207389Check validation services
    5223205223206099Clearinghouses, bank or check
    5223205223206153Credit card processing services
    5223205223206099Electronic financial payment services
    5223205223206099Electronic funds transfer services
    522320522320 Financial transactions processing (except central bank)
    522320522320 Processing financial transactions
    5223205223206099Reserve and liquidity services (except central bank)
    522320522320 U.S. Central Credit Union


     52239 Other Activities Related to Credit Intermediation

    See industry description for 522390 below.

     522390 Other Activities Related to Credit Intermediation

    This industry comprises establishments primarily engaged in facilitating credit intermediation (except mortgage and loan brokerage; and financial transactions processing, reserve, and clearinghouse activities).

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5223905223906099Check cashing services
    5223905223906162Loan servicing
    5223905223906099Money order issuance services
    5223905223906099Travelers' check issuance services


    523 Securities, Commodity Contracts, and Other Financial Investments and Related Activities

     523 Securities, Commodity Contracts, and Other Financial Investments and Related Activities

    Industries in the Securities, Commodity Contracts, and Other Financial Investments and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting securities issues and/or making markets for securities and commodities; (2) acting as agents (i.e., brokers) between buyers and sellers of securities and commodities; (3) providing securities and commodity exchange services; and (4) providing other services, such as managing portfolios of assets; providing investment advice; and trust, fiduciary, and custody services.

     5231 Securities and Commodity Contracts Intermediation and Brokerage

    This industry group comprises establishments primarily engaged in putting capital at risk in the process of underwriting securities issues or in making markets for securities and commodities; and those acting as agents and/or brokers between buyers and sellers of securities and commodities, usually charging a commission.

     52311 Investment Banking and Securities Dealing

    See industry description for 523110 below.

     523110 Investment Banking and Securities Dealing

    This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers.

    Cross-References.

  • Establishments primarily engaged in acting as agents (i.e., brokers) in buying or selling securities on a commission or transaction fee basis are classified in Industry 523120, Securities Brokerage; and
  • Investment clubs or individual investors primarily engaged in buying or selling financial contracts (e.g., securities) on their own account are classified in Industry 523910, Miscellaneous Intermediation.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5231105231106211Banking, investment
    5231105231106211Bond dealing (i.e., acting as a principal in dealing securities to investors)
    5231105231106211Commercial paper dealing (i.e., acting as a principal in dealing securities to in
    5231105231106211Investment banking
    5231105231106211Making markets for securities
    5231105231106211Market making for securities
    5231105231106211Paper, dealing of commercial (i.e., acting as principal in dealing securities to
    5231105231106211Securities dealers (i.e., acting as a principal in dealing securities to investor
    5231105231106211Securities dealing (i.e., acting as a principal in dealing securities to investor
    5231105231106211Securities distributing (i.e., acting as a principal in dealing securities to inv
    5231105231106211Securities floor traders (i.e., acting as a principal in dealing securities to in
    5231105231106211Securities flotation companies
    5231105231106211Securities originating (i.e., acting as a principal in dealing securities to inve
    5231105231106211Securities trading (i.e., acting as a principal in dealing securities to investor
    5231105231106211Securities underwriting
    5231105231106211Stock options dealing (i.e., acting as a principal in dealing securities to inves
    5231105231106211Trading securities (i.e., acting as a principal in dealing securities to investor
    5231105231106211Underwriting securities


     52312 Securities Brokerage

    See industry description for 523120 below.

     523120 Securities Brokerage

    This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) between buyers and sellers in buying or selling securities on a commission or transaction fee basis.

    Cross-References. Establishments primarily engaged in investment banking and securities dealing (i.e., buying or selling securities on their own account) are classified in Industry 523110, Investment Banking and Securities Dealing.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5231205231206211Bond brokerages
    5231205231206211Brokerages, securities
    5231205231206099Certificate of deposit (CD) brokers' offices
    5231205231206211Commercial note brokers' offices
    5231205231206211Mutual fund agencies (i.e., brokerages)
    5231205231206211Mutual fund agents' (i.e., brokers') offices
    5231205231206211Securities brokerages
    5231205231206211Securities brokers' offices
    5231205231206211Securities floor brokers
    5231205231206211Stock brokerages
    5231205231206211Stock brokers' offices
    5231205231206211Stock options brokerages


     52313 Commodity Contracts Dealing

    See industry description for 523130 below.

     523130 Commodity Contracts Dealing

    This industry comprises establishments primarily engaged in acting as principals (i.e., investors who buy or sell for their own account) in buying or selling spot or futures commodity contracts or options, such as precious metals, foreign currency, oil, or agricultural products, generally on a spread basis.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5231305231306799Commodity contract trading companies
    5231305231306221Commodity contracts dealing (i.e., acting as a principal in dealing commodities t
    5231305231306221Commodity contracts floor traders (i.e., acting as a principal in dealing commodi
    5231305231306221Commodity contracts floor trading (i.e., acting as a principal in dealing commodi
    5231305231306799Commodity contracts options dealing (i.e., acting as a principal in dealing commo
    5231305231306221Commodity contracts traders (i.e., acting as a principal in dealing commodities t
    5231305231306099Foreign currency exchange dealing (i.e., acting as a principal in dealing commodi
    5231305231306099Foreign currency exchange services (i.e., selling to the public)
    5231305231306221Futures commodity contracts dealing (i.e., acting as a principal in dealing commo
    5231305231306799Trading companies, commodity contracts


     52314 Commodity Contracts Brokerage

    See industry description for 523140 below.

     523140 Commodity Contracts Brokerage

    This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in buying or selling spot or future commodity contracts or options on a commission or transaction fee basis.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5231405231406221Brokerages, commodity contracts
    5231405231406221Commodity contracts brokerages
    5231405231406221Commodity contracts brokers' offices
    5231405231406221Commodity contracts floor brokers
    5231405231406221Commodity contracts options brokerages
    5231405231406221Commodity futures brokerages
    5231405231406221Financial futures brokerages
    5231405231406221Futures commodity contracts brokerages
    5231405231406221Futures commodity contracts brokers' offices


     5232 Securities and Commodity Exchanges

     52321 Securities and Commodity Exchanges

    See industry description for 523210 below.

     523210 Securities and Commodity Exchanges

    This industry comprises establishments primarily engaged in furnishing physical or electronic marketplaces for the purpose of facilitating the buying and selling of stocks, stock options, bonds, or commodity contracts.

    Cross-References. Establishments primarily engaged in investment banking, and securities dealing, securities brokering commodity contracts dealing, or commodity contracts brokering are classified in Industry Group 5231, Securities and Commodity Contracts Intermediation and Brokerage.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5232105232106231Commodity contracts exchanges
    5232105232106231Exchanges, commodity contracts
    5232105232106231Exchanges, securities
    5232105232106231Futures commodity contracts exchanges
    5232105232106231Securities exchanges
    5232105232106231Stock exchanges
    5232105232106231Stock or commodity options exchanges


     5239 Other Financial Investment Activities

    This industry group comprises establishments primarily engaged in one of the following: (1) acting as principals in buying or selling financial contracts (except investment bankers, securities dealers, and commodity contracts dealers); (2) acting as agents (i.e., brokers) (except securities brokerages and commodity contracts brokerages) in buying or selling financial contracts; or (3) providing other investment services (except securities and commodity exchanges), such as portfolio management; investment advice; and trust, fiduciary, and custody services.

     52391 Miscellaneous Intermediation

    See industry description for 523910 below.

     523910 Miscellaneous Intermediation

    This industry comprises establishments primarily engaged in acting as principals (except investment bankers, securities dealers, and commodity contracts dealers) in buying or selling of financial contracts generally on a spread basis. Principals are investors that buy or sell for their own account.

    Cross-References. Establishments primarily engaged in investment banking, securities dealing, securities brokering, commodity contracts dealing, or commodity contracts brokering are classified in Industry Group 5231, Securities and Commodity Contracts Intermediation and Brokerage.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    523910523910 Individuals investing in financial contracts on own account
    5239105239106799Investment clubs
    5239105239106211Mineral royalties or leases dealing (i.e., acting as a principal in dealing royal
    5239105239106211Oil royalty dealing (i.e., acting as a principal in dealing royalties to investor
    5239105239106799Tax liens dealing (i.e., acting as a principal in dealing tax liens to investors)
    5239105239106799Venture capital companies
    5239105239106799Viatical settlement companies


     52392 Portfolio Management

    See industry description for 523920 below.

     523920 Portfolio Management

    This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis. Establishments in this industry have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio.

    Cross-References. Establishments primarily engaged in investment banking and securities dealing, securities brokering, commodity contracts dealing, or commodity contracts brokering are classified in Industry Group 5231, Securities and Commodity Contracts Intermediation and Brokerage.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    523920523920 Investment management
    523920523920 Managing investment funds
    5239205239206282Managing mutual funds
    5239205239206282Managing personal investment trusts
    523920523920 Managing trusts
    5239205239206282Mutual fund managing
    5239205239206371Pension fund managing
    5239205239206733Personal investments trusts, managing
    523920523920 Portfolio fund managing


     52393 Investment Advice

    See industry description for 523930 below.

     523930 Investment Advice

    This industry comprises establishments primarily engaged in providing customized investment advice to clients on a fee basis, but do not have the authority to execute trades. Primary activities performed by establishments in this industry are providing financial planning advice and investment counseling to meet the goals and needs of specific clients.

    Cross-References.

  • Establishments providing investment advice in conjunction with their primary activity, such as portfolio management, or the sale of stocks, bonds, annuities, and real estate, are classified according to their primary activity; and
  • Establishments known as publishers providing generalized investment information to subscribers are classified in Subsector 511, Publishing Industries (except Internet) or Subsector 516, Internet Publishing and Broadcasting.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5239305239306282Certified financial planners, customized, fees paid by client
    5239305239306282Financial investment advice services, customized, fees paid by client
    5239305239306282Financial planning services, customized, fees paid by client
    5239305239306282Investment advice consulting services, customized, fees paid by client
    5239305239306282Investment advice counseling services, customized, fees paid by client
    5239305239306282Investment advisory services, customized, fees paid by client


     52399 All Other Financial Investment Activities

    This industry comprises establishments primarily engaged in acting as agents or brokers (except securities brokerages and commodity contracts brokerages) in buying and selling financial contracts providing financial investment activities (except securities and commodity exchanges, portfolio management, and investment advice).

    Cross-References. Establishments primarily engaged in--

     523991 Trust, Fiduciary, and Custody Activities

    This U.S. industry comprises establishments primarily engaged in providing trust, fiduciary, and custody services to others, as instructed, on a fee or contract basis, such as bank trust offices and escrow agencies (except real estate).

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5239915239916733Administrators of private estates
    5239915239916091Bank trust offices
    5239915239916099Escrow agencies (except real estate)
    5239915239916099Fiduciary agencies (except real estate)
    5239915239916091Personal investments trust administration
    5239915239916289Securities custodians
    5239915239916091Trust administration, personal investment
    5239915239916091Trust companies, nondepository


     523999 Miscellaneous Financial Investment Activities

    This U.S. industry comprises establishments primarily engaged in acting as agents and/or brokers (except securities brokerages and commodity contracts brokerages) in buying or selling financial contracts and those providing financial investment services (except securities and commodity exchanges; portfolio management; investment advice; and trust, fiduciary, and custody services) on a fee or commission basis.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5239995239996289Clearinghouses, commodity exchange or securities exchange
    523999523999 Deposit brokers
    5239995239996289Exchange clearinghouses, commodities or securities
    5239995239996211Gas lease brokers' offices
    5239995239996211Oil lease brokers' offices
    5239995239996289Protective committees, security holders
    5239995239996289Quotation services, securities
    5239995239996289Quotation services, stock
    5239995239996289Securities holders' protective services
    5239995239996289Securities transfer agencies
    5239995239996289Stock quotation services
    5239995239996289Stock transfer agencies
    5239995239996289Transfer agencies, securities


    524 Insurance Carriers and Related Activities

     524 Insurance Carriers and Related Activities

    Industries in the Insurance Carriers and Related Activities subsector group establishments that are primarily engaged in one of the following: (1) underwriting (assuming the risk, assigning premiums, and so forth) annuities and insurance policies or (2) facilitating such underwriting by selling insurance policies, and by providing other insurance and employee-benefit related services.

     5241 Insurance Carriers

    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/or 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.

     52411 Direct Life, Health, and Medical Insurance Carriers

    This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies.

    Cross-References.

  • Establishments primarily engaged in reinsuring life insurance policies are classified in Industry 524130, Reinsurance Carriers;
  • Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds; and
  • HMO establishments providing health care services are classified in Industry 62149, Other Outpatient Care Centers.

     524113 Direct Life Insurance Carriers

    This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies.

    Cross-References.

  • Establishments primarily engaged in reinsuring life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies are classified in Industry 524130, Reinsurance Carriers; and
  • Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5241135241136321Accidental death and dismemberment insurance carriers, direct
    5241135241136321Accidental death and dismemberment insurance underwriting, direct
    5241135241136311Annuities underwriting
    5241135241136311Cooperative life insurance organizations
    5241135241136311Credit life insurance carriers, direct
    5241135241136321Disability insurance carriers, direct
    5241135241136321Disability insurance underwriting, direct
    5241135241136311Fraternal life insurance organizations
    5241135241136321Insurance carriers, disability, direct
    5241135241136311Insurance carriers, life, direct
    5241135241136321Insurance underwriting, disability, direct
    5241135241136311Insurance underwriting, life, direct
    5241135241136311Life insurance carriers, direct
    5241135241136311Savings bank life insurance carriers, direct


     524114 Direct Health and Medical Insurance Carriers

    This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) health and medical insurance policies. Group hospitalization plans and HMO establishments (except those providing health care services) that provide health and medical insurance policies without providing health care services are included in this industry.

    Cross-References.

  • HMO establishments that provide both health care services and underwrite health and medical insurance are classified in U.S. Industry 621491, HMO Medical Centers;
  • Establishments primarily engaged in reinsuring health insurance policies are classified in Industry 524130, Reinsurance Carriers; and
  • Legal entities (i.e., funds, plans, and/or programs) organized to provide health- and welfare-related employee benefits exclusively for the sponsor's employees or members are classified in Industry 525120, Health and Welfare Funds.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5241145241146324Dental insurance carriers, direct
    5241145241146324Group hospitalization plans without providing health care services
    5241145241146321Health insurance carriers, direct
    5241145241146324Hospital and medical service plans, direct, without providing health care service
    5241145241146324Hospitalization insurance carriers, direct, without providing health care service
    5241145241146321Insurance carriers, health, direct
    5241145241146324Insurance underwriting, health and medical, direct
    5241145241146324Medical insurance carriers, direct
    5241145241146324Medical service plans without providing health care services


     52412 Direct Insurance (except Life, Health, and Medical) Carriers

    This industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) various types of insurance policies (except life, disability income, accidental death and dismemberment, and health and medical insurance policies).

    Cross-References.

  • Establishments primarily engaged in reinsuring insurance policies are classified in Industry 524130, Reinsurance Carriers;
  • Legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members are classified in Industry Group 5251, Insurance and Employee Benefit Funds; and
  • Establishments primarily engaged in initially underwriting annuities and life insurance policies, disability income insurance policies, accidental death and dismemberment insurance policies, and health and medical insurance policies are classified in Industry 52411, Direct Life, Health, and Medical Insurance Carriers.

     524126 Direct Property and Casualty Insurance Carriers

    This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies that protect policyholders against losses that may occur as a result of property damage or liability.

    Cross-References. Establishments primarily engaged in reinsuring property and casualty insurance policies are classified in Industry 524130, Reinsurance Carriers.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5241265241266331Agricultural (i.e., crop, livestock) insurance carriers, direct
    5241265241266331Automobile insurance carriers, direct
    5241265241266351Bonding, fidelity or surety insurance, direct
    5241265241266331Burglary and theft insurance carriers, direct
    5241265241266331Casualty insurance carriers, direct
    5241265241266351Credit and other financial responsibility insurance carriers, direct
    5241265241266331Crop insurance carrier, direct
    5241265241266351Fidelity insurance carriers, direct
    5241265241266331Fire insurance carriers, direct
    5241265241266331Homeowners' insurance carriers, direct
    5241265241266351Insurance carriers, fidelity, direct
    5241265241266351Insurance carriers, property and casualty, direct
    5241265241266351Insurance carriers, surety, direct
    5241265241266351Insurance underwriting, property and casualty, direct
    5241265241266351Liability insurance carriers, direct
    5241265241266351Malpractice insurance carriers, direct
    5241265241266331Marine insurance carriers, direct
    5241265241266351Mortgage guaranty insurance carriers, direct
    5241265241266331Plate glass insurance carriers, direct
    5241265241266331Property and casualty insurance carriers, direct
    5241265241266331Property damage insurance carriers, direct
    5241265241266351Surety insurance carriers, direct
    5241265241266331Workers' compensation insurance underwriting


     524127 Direct Title Insurance Carriers

    This U.S. industry comprises establishments primarily engaged in initially underwriting (i.e., assuming the risk and assigning premiums) insurance policies to protect the owners of real estate or real estate creditors against loss sustained by reason of any title defect to real property.

    Cross-References. Establishments primarily engaged in reinsuring title insurance policies are classified in Industry 524130, Reinsurance Carriers.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5241275241276361Guaranteeing titles
    5241275241276361Insurance carriers, title, direct
    5241275241276361Insurance underwriting, title, direct
    5241275241276361Real estate title insurance carriers, direct
    5241275241276361Title insurance carriers, real estate, direct


     524128 Other Direct Insurance (except Life, Health, and Medical) Carriers

    This U.S. industry comprises establishments primarily engaged in initially underwriting (e.g., assuming the risk, assigning premiums) insurance policies (except life, disability income, accidental death and dismemberment, health and medical, property and casualty, and title insurance policies).

    Cross-References. Establishments primarily engaged in--

    • Reinsuring insurance policies--are classified in Industry 524130, Reinsurance Carriers;
    • Initially underwriting annuities and life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies--are classified in U.S. Industry 524113, Direct Life Insurance Carriers;
    • Initially underwriting health and medical insurance policies--are classified in U.S. Industry 524114, Direct Health and Medical Insurance Carriers;
    • Initially underwriting property and casualty insurance policies--are classified in U.S. Industry 524126, Direct Property and Casualty Insurance Carriers; and
    • Initially underwriting title insurance policies--are classified in U.S. Industry 524127, Direct Title Insurance Carriers.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5241285241286399Bank deposit insurance carriers, direct
    5241285241286311Burial insurance carriers, direct
    5241285241286331Contact lens insurance, direct
    5241285241286399Deposit or share insurance carriers, direct
    5241285241286311Funeral insurance carriers, direct
    5241285241286351Homeowners' warranty insurance carriers, direct
    5241285241286399Pet health insurance carriers, direct
    5241285241286399Product warranty insurance carriers, direct
    524128524128 Warranty insurance carriers (e.g., appliance, automobile, homeowners, product), d


     52413 Reinsurance Carriers

    See industry description for 524130 below.

     524130 Reinsurance Carriers

    This industry comprises establishments primarily engaged in assuming all or part of the risk associated with existing insurance policies originally underwritten by other insurance carriers.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5241305241306321Accidental and health reinsurance carriers
    5241305241306311Life reinsurance carriers
    5241305241306331Marine reinsurance carriers
    5241305241306324Medical reinsurance carriers
    5241305241306331Property and casualty reinsurance carriers
    524130524130 Reinsurance carriers


     5242 Agencies, Brokerages, and Other Insurance Related Activities

    This industry group comprises establishments primarily engaged in (1) acting as agents (i.e., brokers) in selling annuities and insurance policies or (2) providing other employee benefits and insurance related services, such as claims adjustment and third party administration.

     52421 Insurance Agencies and Brokerages

    See industry description for 524210 below.

     524210 Insurance Agencies and Brokerages

    This industry comprises establishments primarily engaged in acting as agents (i.e., brokers) in selling annuities and insurance policies.

    Cross-References. Establishments primarily engaged in underwriting annuities and insurance policies are classified in Industry Group 5241, Insurance Carriers.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5242105242106411Agencies, insurance
    5242105242106411Brokerages, insurance
    5242105242106411Brokers' offices, insurance
    5242105242106411Insurance agencies
    5242105242106411Insurance brokerages
    5242105242106411Life insurance agencies


     52429 Other Insurance Related Activities

    This industry comprises establishments primarily engaged in providing services related to insurance (except insurance agencies and brokerages).

    Cross-References. Establishments primarily engaged in--

     524291 Claims Adjusting

    This industry comprises establishments primarily engaged in investigating, appraising, and settling insurance claims.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5242915242916411Cause-of-loss investigators, insurance
    5242915242916411Claims adjusting, insurance
    5242915242916411Fire investigators
    5242915242916411Insurance claims adjusting
    5242915242916411Insurance claims investigation services
    5242915242916411Insurance settlement offices
    5242915242916411Loss control consultants


     524292 Third Party Administration of Insurance and Pension Funds

    This U.S. industry comprises establishments primarily engaged in providing third party administration services of insurance and pension funds, such as claims processing and other administrative services to insurance carriers, employee-benefit plans, and self-insurance funds.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5242925242926371Claims processing services, insurance, third-party
    5242925242926371Employee benefit plans, third-party administrative processing services
    5242925242926411Insurance claims processing services, third party
    5242925242926371Insurance fund, third party administrative services (except claims adjusting only
    5242925242926371Insurance plan administrative services (except claims adjusting only), third-part
    5242925242926371Pension fund, third party administrative services


     524298 All Other Insurance Related Activities

    This U.S. industry comprises establishments primarily engaged in providing insurance services on a contract or fee basis (except insurance agencies and brokerages, claims adjusting, and third party administration). Insurance advisory services and insurance ratemaking services are included in this industry.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5242985242986411Actuaries
    5242985242986411Insurance actuarial services
    5242985242986411Insurance advisory services
    5242985242986411Insurance coverage consulting services
    5242985242986411Insurance exchanges
    5242985242986411Insurance investigation services (except claims investigation)
    5242985242986411Insurance loss prevention services
    5242985242986411Insurance processing, contract or fee basis
    5242985242986411Insurance rate making services
    5242985242986411Insurance reporting services
    5242985242986411Insurance underwriters laboratories and standards services
    5242985242986411Medical cost evaluation services
    5242985242986411Rate making services, insurance


    525 Funds, Trusts, and Other Financial Vehicles

     525 Funds, Trusts, and Other Financial Vehicles

    Industries in the Funds, Trusts, and Other Financial Vehicles subsector are comprised of legal entities (i.e., funds, plans, and/or programs) organized to pool securities or other assets on behalf of shareholders or beneficiaries of employee benefit or other trust funds. The portfolios are customized to achieve specific investment characteristics, such as diversification, risk, rate of return, and price volatility. These entities earn interest, dividends, and other property income, but have little or no employment and no revenue from the sale of services. Establishments with employees devoted to the management of funds are classified in Industry Group 5239, Other Financial Investment Activities.

    Establishments primarily engaged in holding the securities of (or other equity interests in) other firms are classified in Sector 55, Management of Companies and Enterprises.

     5251 Insurance and Employee Benefit Funds

    This industry group comprises legal entities (i.e., funds, plans, and/or programs) organized to provide insurance and employee benefits exclusively for the sponsor, firm, or its employees or members.

     52511 Pension Funds

    See industry description for 525110 below.

     525110 Pension Funds

    This industry comprises legal entities (i.e., funds, plans, and/or programs) organized to provide retirement income benefits exclusively for the sponsor's employees or members.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5251105251106371Employee benefit pension plans
    5251105251106371Funds, employee benefit pension
    5251105251106371Funds, pension
    5251105251106371Pension funds
    5251105251106371Pension plans (e.g., employee benefit, retirement)
    5251105251106371Plans, pension
    5251105251106371Retirement pension plans
    5251105251106371Union pension funds


     52512 Health and Welfare Funds

    See industry description for 525120 below.

     525120 Health and Welfare Funds

    This industry comprises legal entities (i.e., funds, plans, and/or programs) organized to provide medical, surgical, hospital, vacation, training, and other health- and welfare-related employee benefits exclusively for the sponsor's employees or members.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5251205251206371Employee benefit plans (except pension)
    5251205251206371Funds, health and welfare
    5251205251206371Health and welfare funds
    5251205251206371Plans, health and welfare related employee benefit
    5251205251206371Union health and welfare funds


     52519 Other Insurance Funds

    See industry description for 525190 below.

     525190 Other Insurance Funds

    This industry comprises legal entities (i.e., funds (except pension, and health- and welfare-related employee benefit funds)) organized to provide insurance exclusively for the sponsor, firm, or its employees or members. Self-insurance funds (except employee benefit funds) and workers' compensation insurance funds are included in this industry.

    Cross-References.

  • Legal entities (i.e., funds, plans, and/or programs) organized to provide retirement income benefits exclusively for the sponsor's employees or members are classified in Industry 525110, Pension Funds;
  • Legal entities (i.e., funds, plans, and/or programs) organized to provide health- and welfare-related employee benefits exclusively for the sponsor's employees or members are classified in Industry 525120, Health and Welfare Funds;
  • Establishments primarily engaged in managing portfolios of insurance funds are classified in Industry 523920, Portfolio Management;
  • Establishments primarily engaged in third party claims administration of insurance, and other employee benefit funds are classified in U.S. Industry 524292, Third Party Administration of Insurance and Pension Funds; and
  • Establishments primarily engaged in providing insurance on a fee or contract basis are classified in Industry Group 5241, Insurance Carriers.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    525190525190 Compensation, workers, insurance funds
    525190525190 Funds, self-insurance (except employee benefit funds)
    525190525190 Self-insurance funds (except employee benefit funds)
    525190525190 Workers' compensation insurance funds


     5259 Other Investment Pools and Funds

    This industry group comprises legal entities (i.e., investment pools and/or funds) organized to pool securities or other assets (except insurance and employee-benefit funds) on behalf of shareholders, unitholders, or beneficiaries.

     52591 Open-End Investment Funds

    See industry description for 525910 below.

     525910 Open-End Investment Funds

    This industry comprises legal entities (i.e., open-end investment funds) organized to pool assets that consist of securities or other financial instruments. Shares in these pools are offered to the public in an initial offering with additional shares offered continuously and perpetually and redeemed at a specific price determined by the net asset value.
    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5259105259106722Funds, mutual, open-ended
    5259105259106722Investment funds, open-ended
    5259105259106722Money market mutual funds, open-ended
    5259105259106722Mutual funds, open-ended


     52592 Trusts, Estates, and Agency Accounts

    See industry description for 525920 below.

     525920 Trusts, Estates, and Agency Accounts

    This industry comprises legal entities, trusts, estates, or agency accounts, administered on behalf of the beneficiaries under the terms of a trust agreement, will, or agency agreement.

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5259205259206733Bankruptcy estates
    5259205259206733Personal estates (i.e., managing assets)
    5259205259206733Personal investment trusts
    5259205259206733Personal trusts
    5259205259206733Private estates (i.e., administering on behalf of beneficiaries)
    5259205259206733Testamentary trusts
    5259205259206733Trusts, estates, and agency accounts


     52593 Real Estate Investment Trusts

    See industry description for 525930 below.

     525930 Real Estate Investment Trusts

    This industry comprises legal entities that are Real Estate Investment Trusts (REITs).

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5259305259306798Real estate investment trusts (REITs)
    5259305259306798REITs (real estate investment trusts)


     52599 Other Financial Vehicles

    See industry description for 525990 below.

     525990 Other Financial Vehicles

    This industry comprises legal entities (i.e., funds (except insurance and employee benefit funds; open-end investment funds; trusts, estates, and agency accounts; and Real Estate Investment Trusts (REITs)).

    Cross-References. Establishments primarily engaged in--

    No change 1997 to 2002 2002 NAICS to 1987 SIC 1997Economic Census Bridge Between 1997 NAICS and SIC
    2002
    NAICS
    1997
    NAICS
    1987
    SIC
    Corresponding Index Entries
    5259905259906726Closed-end investment funds (except REITs)
    5259905259906726CMOs (collateralized mortgage obligations)
    5259905259906726Collateralized mortgage obligations (CMOs)
    5259905259906726Face-amount certificate funds
    5259905259906726Funds, mutual, closed-end
    5259905259906726Investment funds, closed-end
    5259905259906726Money market mutual funds, closed-end
    5259905259906726Mutual funds, closed-end
    5259905259906371Profit-sharing funds
    5259905259906726Real estate mortgage investment conduits (REMICs)
    5259905259906726REMICs (real estate mortgage investment conduits)
    5259905259906726Special purpose financial vehicles
    5259905259906726Unit investment trust funds