KSIC K—Financial and insurance activities

Where K sits

1. K Financial and insurance activities

Contains 3 narrower codes

• 64 Financial service activities, except insurance and pension funding
• 65 Insurance
• 66 Activities auxiliary to financial service and insurance activities

Description

1. Overview This major category includes financial services and insurance-related service industries.

A. Financial Services This includes industrial activities performed by various banks and savings institutions engaged in lending and receiving funds; institutions that invest funds raised through securities issuance and trusts into securities and other financial assets on their own accounts; specialized lending financial institutions performing financial leasing, development finance, credit card and installment financing, etc.; and other public fund management and operation agencies and holding companies.

B. Insurance Services This includes insurance businesses that create and manage funds for the purpose of dispersing risks of life or accidents that may occur in the short or long term, and individual and group mutual aid businesses that create and manage funds for income security in old age or after retirement.

C. Services Related to Finance, Insurance, and Pensions This includes various related service activities provided for the smooth operation of financial, insurance, and pension businesses.

Cross-references for K

• A. Activities that compensate for income deficits and losses of persons unable to support themselves through government transfer payments are classified under "84500: Social Security Administration"
• B. Social welfare projects carried out by government agencies and private welfare institutions using government transfer payments and charitable funds are classified under "87: Social Welfare Services." Operating leases are classified under "76: Leasing."
• If a fund is established for a specific business purpose and managed, it is included in the financial business; however, if the business is actually operated, it is classified separately according to the type of business operated.

K in other systems