Actuarial Mathematics For Pensions Basics And Concepts Applied To Business
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Actuarial Mathematics For Pensions Basics And Concepts Applied To Business
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Author : Dominique Beckers
language : en
Publisher: Wolters Kluwer Belgium
Release Date : 2017
Actuarial Mathematics For Pensions Basics And Concepts Applied To Business written by Dominique Beckers and has been published by Wolters Kluwer Belgium this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Fundamentals Of Actuarial Mathematics
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Author : S. David Promislow
language : en
Publisher: John Wiley & Sons
Release Date : 2015-01-20
Fundamentals Of Actuarial Mathematics written by S. David Promislow and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-01-20 with Mathematics categories.
Provides a comprehensive coverage of both the deterministic and stochastic models of life contingencies, risk theory, credibility theory, multi-state models, and an introduction to modern mathematical finance. New edition restructures the material to fit into modern computational methods and provides several spreadsheet examples throughout. Covers the syllabus for the Institute of Actuaries subject CT5, Contingencies Includes new chapters covering stochastic investments returns, universal life insurance. Elements of option pricing and the Black-Scholes formula will be introduced.
Modelling Longevity Dynamics For Pensions And Annuity Business
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Author : Ermanno Pitacco
language : en
Publisher: OUP Oxford
Release Date : 2009-01-29
Modelling Longevity Dynamics For Pensions And Annuity Business written by Ermanno Pitacco and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-29 with Business & Economics categories.
Mortality improvements, uncertainty in future mortality trends and the relevant impact on life annuities and pension plans constitute important topics in the field of actuarial mathematics and life insurance techniques. In particular, actuarial calculations concerning pensions, life annuities and other living benefits (provided, for example, by long-term care insurance products and whole life sickness covers) are based on survival probabilities which necessarily extend over a long time horizon. In order to avoid underestimation of the related liabilities, the insurance company (or the pension plan) must adopt an appropriate forecast of future mortality. Great attention is currently being devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes. In particular, the progressive shift from defined benefit to defined contribution pension schemes has increased the interest in life annuities with a guaranteed annual amount. This book provides a comprehensive and detailed description of methods for projecting mortality, and an extensive introduction to some important issues concerning longevity risk in the area of life annuities and pension benefits. It relies on research work carried out by the authors, as well as on a wide teaching experience and in CPD (Continuing Professional Development) initiatives. The following topics are dealt with: life annuities in the framework of post-retirement income strategies; the basic mortality model; recent mortality trends that have been experienced; general features of projection models; discussion of stochastic projection models, with numerical illustrations; measuring and managing longevity risk.
Essential Pension Actuarial Mathematics
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Author : Philip Martin McCaulay
language : en
Publisher: Independently Published
Release Date : 2024-01-03
Essential Pension Actuarial Mathematics written by Philip Martin McCaulay and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-03 with Mathematics categories.
"Essential Pension Actuarial Mathematics" is a comprehensive and invaluable resource for pension actuaries and actuarial students seeking a deep understanding of the mathematical principles and techniques essential in the field of pension actuarial science. Authored by experts in the field, this book covers a wide range of topics relevant to pension actuarial practice. Part I - Interest and Mortality: Mortality Rates and Survival Functions: This section introduces the fundamental concepts of mortality rates and survival functions, which are essential for assessing life expectancies and mortality risks in pension calculations. The Theory of Interest: Explore the theory of interest, including accumulation factors, compound interest accumulation functions, and interest discount factors. Gain insights into the mathematical foundation of interest rate calculations critical for pension actuaries. Commutation Functions and Life Annuity Factors: Delve into commutation functions and life annuity factors, which are vital tools for estimating pension payouts and assessing actuarial liabilities. Part II - Cost Methods: 4. Unit Credit (UC) Cost Method: Understand the Unit Credit cost method, one of the essential techniques for calculating pension costs and liabilities, especially in defined benefit pension plans. Projected Unit Credit (PUC) Cost Method: Explore the Projected Unit Credit cost method, which provides a more sophisticated approach to estimating pension obligations based on projected salaries and service. Entry Age Normal (EAN) Cost Method: Learn about the Entry Age Normal cost method, an individualized approach to determining pension costs and liabilities, considering participants' entry ages. Aggregate Cost Method: Discover the Aggregate Cost method, which helps assess pension costs as a percentage of payroll, providing insights into group-based pension plans. Part III - Amortization and Contributions: 8. Calculating Amortization Periods: Gain insights into calculating amortization periods, a crucial step in managing unfunded pension liabilities and contributions. Formulas for Amortization Factors: Explore the formulas for amortization factors, which facilitate the determination of contributions needed to fund pension plan deficits. Part IV - Duration and Convexity: 10. Duration: Understand the concept of duration, a critical measure for assessing the sensitivity of pension liabilities to changes in interest rates. Convexity: Explore convexity, which provides a deeper understanding of how pension liabilities respond to interest rate movements, including the concept of negative convexity. Negative Convexity: Learn about negative convexity and its implications for pension actuaries, especially in cases where certain pension securities exhibit non-linear price responses to interest rate changes. Exercise Sets: Each part includes exercise sets designed to reinforce the understanding of the presented concepts and allow readers to apply their knowledge. Comprehensive Coverage: "Essential Pension Actuarial Mathematics" provides a comprehensive and in-depth exploration of essential topics in pension actuarial mathematics, making it an invaluable reference for both experienced pension actuaries and actuarial students. Practical Application: The book not only explains theoretical concepts but also focuses on their practical application in pension actuarial practice, helping readers bridge the gap between theory and real-world scenarios.
Pension Mathematics For Actuaries
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Author : Arthur W. Anderson
language : en
Publisher: ACTEX Publications
Release Date : 1992
Pension Mathematics For Actuaries written by Arthur W. Anderson and has been published by ACTEX Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1992 with Business & Economics categories.
Actuarial Mathematics Of Social Security Pensions
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Author : Subramaniam Iyer
language : en
Publisher: International Labour Organization
Release Date : 1999
Actuarial Mathematics Of Social Security Pensions written by Subramaniam Iyer and has been published by International Labour Organization this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Political Science categories.
Describes the application of actuarial principles and techniques to public social insurance pension schemes. Aims to establish a link between public social security and occupational pension scheme methods. Part one discusses actuarial theory. Part two deals with two techniques: the projection technique, and the present value technique. There is also a brief description of actuarial mathematics.
An Introduction To Actuarial Mathematics
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Author : Arjun K. Gupta
language : en
Publisher: Boom Koninklijke Uitgevers
Release Date : 2002-02-28
An Introduction To Actuarial Mathematics written by Arjun K. Gupta and has been published by Boom Koninklijke Uitgevers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-02-28 with Business & Economics categories.
This text has been written by a renowned statistician and a practising actuary, primarily as an introduction to the basics of the actuarial mathematics of life insurance. Since it attempts to derive the results in a mathematically rigorous way, the concepts and techniques of one-variable calculus and probability theory have been used throughout. Topics dealt with include important concepts of financial mathematics; the concept of interests; annuities-certain; mortality theory; different types of life insurances; stochastic cash flows in general and pure endowments, whole life and term insurances, endowments, and life annuities in particular; premium calculations; reserves; mortality profit; and negative reserves. The book contains many systematically solved examples showing the practical applications of the theory presented. Solving the problems at the end of each section is essential for understanding the material. Answers to odd-numbered problems are given at the end of the volume.
Pension Mathematics With Numerical Illustrations
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Author : Howard E. Winklevoss
language : en
Publisher: University of Pennsylvania Press
Release Date : 1993-03-29
Pension Mathematics With Numerical Illustrations written by Howard E. Winklevoss and has been published by University of Pennsylvania Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-03-29 with Business & Economics categories.
A text that quantifies and provides new or improved actuarial notation for long recognized pension cost concepts and procedures and, in certain areas, develops new insights and techniques. With the exception of the first few chapters, the text is a virtual rewrite of the first edition of 1977. Among the major additions are chapters on statutory funding requirements, pension accounting, funding policy analysis, asset allocation, and retiree health benefits.
Erm And Qrm In Life Insurance
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Author : Ermanno Pitacco
language : en
Publisher: Springer Nature
Release Date : 2020-08-25
Erm And Qrm In Life Insurance written by Ermanno Pitacco and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-25 with Business & Economics categories.
This book deals with Enterprise Risk Management (ERM) and, in particular, Quantitative Risk Management (QRM) in life insurance business. Constituting a “bridge” between traditional actuarial mathematics and insurance risk management processes, its purpose is to provide advanced undergraduate and graduate students in the Actuarial Sciences, Finance and Economics with the basics of ERM (in general) and QRM applied to life insurance business. The main topics dealt with are: general issues on ERM, risk management tools for life insurance and life annuities, deterministic and stochastic analysis of the behaviour of a portfolio fund, application of sensitivity testing to assess ranges of results of interest, stress testing to assess the impact of extreme scenarios, and the product development process for life annuity products.
Actuarial Mathematics
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Author : Harry H. Panjer
language : en
Publisher: American Mathematical Soc.
Release Date : 1986
Actuarial Mathematics written by Harry H. Panjer and has been published by American Mathematical Soc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Political Science categories.
These lecture notes from the 1985 AMS Short Course examine a variety of topics from the contemporary theory of actuarial mathematics. Recent clarification in the concepts of probability and statistics has laid a much richer foundation for this theory. Other factors that have shaped the theory include the continuing advances in computer science, the flourishing mathematical theory of risk, developments in stochastic processes, and recent growth in the theory of finance. In turn, actuarial concepts have been applied to other areas such as biostatistics, demography, economic, and reliability engineering.