Financial corporations that are mainly engaged in financial intermediation as a consequence of the pooling of risks mainly in the form of direct insurance or reinsurance. Insurance corporations provide life or non-life insurance services. This sector comprises insurers and re-insurers.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.