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Subdivision

63 Insurance and Superannuation Funds

Australian and New Zealand Standard Industrial Classification (ANZSIC)
Reference period
2006 (Revision 2.0)

This subdivision contains the following ANZSIC groups:

Group

631 Life Insurance

This group contains the following ANZSIC class:

Class

6310 Life Insurance

This class consists of units mainly engaged in providing life insurance and life reinsurance covers.

Primary activities

  • Life insurance provision
  • Life reinsurance provision

Exclusions/References

Superannuation funds managed by life insurance companies are included in Class 6330 Superannuation Funds. This exclusion does not relate to statutory funds of life insurance companies for the purpose of conducting superannuation business - such funds are part of the assets of the life insurance companies.

Units mainly engaged in:

  • providing insurance cover for hospital, medical, dental, pharmaceutical or funeral expenses or costs are included in Class 6321 Health Insurance; and
  • providing general insurance cover (except health or life) are included in Class 6322 General Insurance.
Group

632 Health and General Insurance

This group contains the following ANZSIC classes:

Class

6321 Health Insurance

This class consists of units mainly engaged in providing insurance cover for hospital, medical, dental, pharmaceutical or funeral expenses or costs.

Primary activities

  • Dental insurance provision
  • Funeral benefit provision
  • Health insurance provision

Exclusions/References

Units mainly engaged in

  • providing life insurance and life reinsurance cover are included in Class 6310 Life Insurance; and
  • providing general insurance cover (except health or life) are included in Class 6322 General Insurance.
Class

6322 General Insurance

This class consists of units mainly engaged in providing general insurance cover (except life and health insurance).

Primary activities

  • Accident insurance provision
  • All risks insurance provision
  • Fire insurance provision
  • General insurance provision
  • Household insurance provision
  • Insurance provision n.e.c.
  • Mortgage insurance provision
  • Motor vehicle insurance provision
  • Owner’s liability insurance provision
  • Reinsurance (except life) provision
  • Third party insurance provision
  • Travel insurance provision
  • Worker’s compensation insurance provision

Exclusions/References

Units mainly engaged in

  • providing insurance broking services are included in Class 6420 Auxiliary Insurance Services;
  • providing insurance cover for hospital, medical, dental, pharmaceutical or funeral expenses or costs are included in Class 6321 Health Insurance; and
  • providing life insurance and life reinsurance cover are included in Class 6310 Life Insurance.
Group

633 Superannuation Funds

This group contains the following ANZSIC class:

Class

6330 Superannuation Funds

This class consists of units of separately constituted funds mainly engaged in providing retirement benefits.

Primary activities

  • Approved deposit fund (superannuation) operation
  • Pension fund, separately constituted, operation
  • Superannuation fund, separately constituted, operation

Exclusions/References

Units mainly engaged in

  • investing money on their own account in predominantly financial assets (e.g. shares, bonds, bills etc, including mortgages) are included in Class 6240 Financial Asset Investing; and
  • managing or in carrying out the operations of separately constituted superannuation funds on a commission or fee basis are included in Class 6419 Other Auxiliary Finance and Investment Services.