NACE 2.1 Update
What you should know and the implications for your business
What's new
NACE Rev. 2 codes, used for an accurate classification of economic activities, have been updated!
The new version: NACE 2.1 released in February 2025, aims to refine granularity and classify emerging economic sectors. It introduces changes on all 4 levels: Section, Division, Group and Class.
Implication for 2025
Some data vendors are no longer able to provide NACE 2.0, while others have not yet switched to version 2.1. However, the reporting standard for Q1/Q2/Q3 2025 remains NACE 2.0 classification for all reporting frameworks. As a result, companies whose providers aren’t delivering NACE 2.0 must map the new 2.1 codes to the previous 2.0 format.
EIOPA is currently assessing the issue and will publish further guidance from Q4/annual 2025 reporting reference periods onwards.
Fenion delivers both NACE 2.0 and the new version 2.1 and integrates them into all reporting products upon client request.
Financial-Sector Highlights
The Financial and Insurance Activities now belong to the section L, formerly K. This is due to the split that occurred for the former Information and Communication Section (formerly J) in two distinct sections J and K.
The two following former groups have been split into two respectively:
1. "Trusts, funds and similar financial entitites" (previously 64.3)
- Activities of money market and non-money market investments funds; 64.31
- Activities of trust, estate and agency accounts; 64.32
2. "Activities of holding companies" (previously 64.2)
- Activities of holding companies; 64.21
- Activites of financing conduits; 64.22
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