FOLIO Ontology

The Finance and Insurance industry group comprises establishments primarily engaged in financial transactions (transactions involving the creation, liquidation, or change in ownership of financial assets) and/or in facilitating financial transactions. Three principal types of activities include: raising funds by taking deposits and/or issuing securities and, in the process, incurring liabilities; and pooling of risk by underwriting insurance and annuities; and providing specialized services facilitating or supporting financial intermediation, insurance, and employee benefit programs.