Key facts
Code summary
Code 651
Official title Insurance
Version PSIC 2019
Source layer PSA / BSP
Fi
PSIC 2019 Navigation-first hub Group 651 - Insurance
PSIC Group 651 covers Insurance. Direct children below it include Life insurance and Non-life insurance. It clusters closely related activities and helps compare nearby classes before choosing the most defensible...
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Nearby codes
About this level
Practical summary
Group 651 sits in the PSIC 2019 hierarchy under K Financial and Insurance Activities > 65 Insurance, Reinsurance and Pension Funding, except Compulsory Social Security. This group usually narrows the choice to a small family of classes such as Life insurance and Non-life insurance. It is useful when two or three neighboring activities look similar but should not be collapsed into one code.
Administrative context
Where this code is used
This group is used when reviewers compare a short list of classes such as Life insurance and Non-life insurance and need to decide which family is the closest fit. It is common in internal classification review and administrative lookup work.
Selection note
How to choose it
Use this group when the activity sits between similar classes such as Life insurance and Non-life insurance. The safest choice is the one whose wording matches the actual production, service or operating model most closely.
Official note
Source-backed description
This group includes life insurance and life insurance with or without a substantial savings element and other non-life insurance.
FAQ
What does PSIC Group 651 cover?
PSIC Group 651 clusters a smaller family of classes under Insurance and is useful when the business sits between closely related options.
How do I compare Group 651 with sibling groups?
Look at the parent class and the nearby sibling groups. On this page, the most relevant nearby options are 652 Reinsurance and 653 Pension funding.
Why is Group 651 useful for classification?
It sits at the point where a broad sector is already narrowed enough to compare a small family of similar classes before the final code choice.