NAICS Code 5241 - Insurance Carriers
Industry SectorFinance and Insurance
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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.
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Questions & Answers
How many active businesses operate in NAICS Code 5241?
There are 13,086 verified business locations operating primarily in this industry.
What was the total revenue for NAICS Code 5241?
In 2017 the total revenue for Insurance Carriers was $2,052,309,468,000
What was the annual payroll for NAICS Code 5241?
In 2017 the annual payroll for Insurance Carriers was $146,074,420,000
How many people work in NAICS Code 5241?
The number of reported paid employees is 1,615,774.