Section K - Financial and Insurance Activities
PSIC Section K covers financial and insurance activities in the Philippines. It includes banking, lending, insurance, pension funding and financial auxiliaries.
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Practical summary
Section K sits in the PSIC 2019 hierarchy. This section captures the intermediation of money and risk. It separates core financial services from insurance and the support activities that keep markets and claims moving. Common examples include Financial Service Activities, except Insurance and Pension Funding, Insurance, Reinsurance and Pension Funding, except Compulsory Social Security, and Activities Auxiliary to Financial Service and Insurance Activities.
Official note
Source-backed description
This section includes financial service activities, including insurance, reinsurance and pension funding and activities to support financial services. This section also includes the activities of holding assets, such as activities of holding companies and the activities of trusts, funds and similar financial entities.