Modern Actuarial Theory and Practice, Second Edition

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CRC Press, Dec 28, 2004 - Mathematics - 840 pages
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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.
 

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Contents

The Widening Scope of Actuarial Theory and Practice
3
Investments and Valuation
23
General Principles of Asset Allocation
65
Investment Risk
127
Portfolio Selection Techniques and Investment Modeling
143
Life Insurance
195
Fundamental Features of Life Insurance
197
Nonparticipating Life Insurance
219
Premium Rating
403
Reinsurance
449
Reserving
491
Pensions
557
Types of Pension Plan
559
Actuarial Modeling of DefinedBenefit Plans
579
Investment Strategies for DefinedBenefit Plans
635
Individual Pension Choices
663

Participating Life Insurance
253
The Regulation of Solvency and its Effect on the Emergence of Profit
281
Life Office Risks and Risk Management
303
The Actuarial Role in Life Office Management
339
General Insurance
367
Introduction to General Insurance
369
General Insurance Accounts
389
Health Insurance
693
An Introduction to Health Insurance
695
Income Protection Insurance
705
Critical Illness
727
LongTerm Care
747
Private Medical Insurance
765
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