Analysis
NAICS 524113 is the 2022 national industry for direct life insurance carriers, part of 52411 (Direct Life, Health, and Medical Insurance Carriers). Census lists 14 example activities under it in the official index.
Between 2018 and 2023 the number of establishments fell 27% and employment fell 4%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
County Business Patterns counts 5,674 US establishments in this code in 2023, employing 308,639 people at an average annual payroll of $134,139 per employee (95th percentile of national industries). 50% of the establishments have fewer than five employees, which is close to the national mix.
By establishments it ranks 2nd of the 2 codes at this level within Direct Life, Health, and Medical Insurance Carriers, with 48% of them.
Its index entries, the activities Census uses to assign businesses to this code, include accidental death and dismemberment insurance carriers…, accidental death and dismemberment insurance underwriting…, annuities underwriting and cooperative life insurance organizations, among 14 in all.
For example, reinsuring life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies are classified in 524130 (Reinsurance Carriers) instead.
Official definition
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.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Reinsuring life insurance policies, disability income insurance policies, and accidental death and dismemberment insurance policies | 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 | 5251 Insurance and Employee Benefit Funds |
Index entries (14)
- Accidental death and dismemberment insurance carriers, direct
- Accidental death and dismemberment insurance underwriting, direct
- Annuities underwriting
- Cooperative life insurance organizations
- Credit life insurance carriers, direct
- Disability insurance carriers, direct
- Disability insurance underwriting, direct
- Fraternal life insurance organizations
- Insurance carriers, disability, direct
- Insurance carriers, life, direct
- Insurance underwriting, disability, direct
- Insurance underwriting, life, direct
- Life insurance carriers, direct
- Savings bank life insurance carriers, direct