NAICS Code 5241 — Insurance Carriers

Industry Group in the official 2022 North American Industry Classification System (U.S. Census Bureau). It contains 3 direct sub-codes.

Code	5241
Title	Insurance Carriers
Level	Industry Group (4-digit)
Edition	NAICS 2022 edition

Official definition (2022 NAICS)

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.

Where 5241 sits in the hierarchy

Level	Code	Title
Sector	52	Finance and Insurance
Subsector	524	Insurance Carriers and Related Activities
Industry Group	5241	Insurance Carriers

Codes under 5241

Code	Title
52411	Direct Life, Health, and Medical Insurance Carriers
52412	Direct Insurance (except Life, Health, and Medical) Carriers
52413	Reinsurance Carriers

Related Industry Group codes

• 5242 — Agencies, Brokerages, and Other Insurance Related Activities

Data: official 2022 NAICS structure, descriptions and Census concordances, U.S. Census Bureau — U.S. government works in the public domain (17 U.S.C. §105). Suggested reference, not an official determination.