NACE K – Financial and Insurance Activities | Public Tenders

NACE K: Financial and insurance services in public tenders. Banking services, insurance — CPV codes and contracting authorities.

Definition: NACE Section K covers financial services including banking and insurance, as well as ancillary services in these areas. In public procurement, financial and insurance services are tendered by authorities for their own operational needs and for state-funded support programmes.

What does NACE K cover?

Division	Title	Brief description
64	Financial service activities, except insurance and pension funding	Banks, credit intermediation, securities trading
65	Insurance, reinsurance and pension funding, except compulsory social security	Life, health, property and casualty insurance
66	Activities auxiliary to financial services and insurance activities	Financial advice, fund management, insurance broking

Public Tenders in Financial and Insurance Services

Public contracting authorities require financial and insurance services for ongoing operations: from bank accounts and payment processing to insurance cover for properties and vehicles, through to financing for investment projects.

Typical Contract Types

Insurance services: Building insurance, motor insurance, liability and accident insurance for authority staff
Banking services: Account management, payment processing, cash services for public institutions
Lending and financing: Loans for municipal investments, project financing
Leasing services: Vehicle leasing, IT equipment leasing for authorities
Fund management: Management of pension provisions and public funds
Debt collection services: Receivables management for fees and public charges

Thresholds

Financial and insurance services are partly privileged under EU procurement directives: certain financial services (e.g. central bank services) are excluded from scope. Insurance services from EUR 221,000 are subject to EU-wide tendering.

Common CPV Codes

CPV Code	Title	Scope
66500000	Insurance and pension services	General insurance
66510000	Insurance services	Building, liability insurance
66512000	Accident-insurance services	Accident cover for staff
66100000	Banking and investment services	Account management, payment processing
66110000	Banking services	Credit institution services
66400000	Life insurance and individual pension services	Occupational pensions

Contracting Authorities

Federal authorities and ministries: Framework agreements for insurance and banking services
Municipalities and cities: Building insurance, motor fleet policies, municipal loans
Schools and universities: Liability and accident insurance for pupils
Hospitals: Operating and professional liability insurance
Promotional banks: KfW, AWS, FÖRDERBANK as contracting bodies for advisory services

FAQ

What tenders are available for insurance companies? Insurance companies and brokers can bid for public tenders for liability, building, motor and accident insurance. Municipalities and regions often pool demand. Key CPV codes: 66500000 ff. Insurance brokers must provide evidence of authorisation (trade licence, IDD compliance).

Are banking services subject to a tendering obligation? Certain banking services (central-bank services, state debt management) are excluded from procurement law. General banking services such as account management, payment processing and card services are subject to tendering where the thresholds are exceeded.

How are municipal loans awarded? Municipal loans and credits are subject to procurement law where they qualify as service contracts. In practice, procurement is often carried out via expression-of-interest procedures or tenders in which banks submit corresponding offers.

Last updated: January 2026 All information is provided without guarantee. For legally binding advice, please consult a law firm specialising in public procurement law.