NIC 651—Insurance

Where 651 sits

1. L Financial and insurance activities
2. 65 Insurance, reinsurance and pension funding, except compulsory social security
3. 651 Insurance

Contains 2 narrower codes

• 6511 Life insurance
• 6512 Non-life insurance

What 651 includes

• This group includes life reinsurance with or without a substantial savings element and other non-life insurance.
• This group includes life insurance and life reinsurance with or without a substantial savings element and other non-life insurance
• Life insurance, with or without a substantial savings element, and non-life insurance - activities of insurance providers on own account
• Pooling and assuming insurance risks
• This group also includes captive insurance activities

What 651 excludes

• Selling of insurance as a broker, see 6622

651 in other systems