insurance corporations and pension funds (ICPFs)

What is insurance corporations and pension funds (ICPFs)?

insurance corporations and pension funds (ICPFs) definition and meaning on Finance terms:
According to the ESA 2010, the insurance corporations subsector consists of all financial corporations and quasi-corporations which are principally engaged in financial intermediation as a consequence of the pooling of risks mainly in the form of direct insurance or reinsurance; the pension funds subsector consists of all financial corporations and quasi-corporations which are principally engaged in financial intermediation as the consequence of the pooling of social risks and needs of the insured persons (social insurance). Pension funds as social insurance schemes provide income in retirement, and often benefits for death and disability. <

 

reference: https://www.ecb.europa.eu/home/glossary/html/index.en.html

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