Modern Actuarial Theory and Practice, Second Edition
Philip Booth, Robert Chadburn, Steven Haberman, Dewi James, Zaki Khorasanee, Robert H. Plumb, Ben Rickayzen
CRC Press, Dec 28, 2004 - Mathematics - 840 pages
In the years since the publication of the best-selling first edition, the incorporation of ideas and theories from the rapidly growing field of financial economics has precipitated considerable development of thinking in the actuarial profession. Modern Actuarial Theory and Practice, Second Edition integrates those changes and presents an up-to-date, comprehensive overview of UK and international actuarial theory, practice and modeling. It describes all of the traditional areas of actuarial activity, but in a manner that highlights the fundamental principles of actuarial theory and practice as well as their economic, financial, and statistical foundations.
accumulated active members adverse selection amount annuity approach asset shares assumed assumptions bank basis bonus calculated capital cash flows chain ladder chain ladder method Chapter class of business contract contribution rate cost cover defined development period discounted discussed distribution dividend yield equity estimate example expected return expected value expenses exposure factors formula function future government bonds guaranteed income increase index-linked individual inflation Institute of Actuaries insurance companies interest rates investment policy investment returns investor liabilities long-term loss method modern portfolio theory mortality normally option paid parameters particular payments pension fund Period of origin policyholders portfolio premium rates present value profit projected proportion quota share random variable rate of return real-estate reinsurance reserves retirement risk measures risk premium salary Section shareholders standard statutory stochastic surplus Table term underwriting unit-linked valuation variable with-profits with-profits policy
Strategische stochastische Investmentmodelle für den deutschen Kapitalmarkt
No preview available - 2002