Financial And Insurance Formulas
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Financial And Insurance Formulas
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Author : Tomas Cipra
language : en
Publisher: Springer Science & Business Media
Release Date : 2010-07-16
Financial And Insurance Formulas written by Tomas Cipra and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-16 with Business & Economics categories.
Financial and insurance calculations become more and more frequent and helpful for many users not only in their profession life but sometimes even in their personal life. Therefore a survey of formulas of ?nancial and insurance mathematics that can be applied to such calculations seems to be a suitable aid. In some cases one should use instead of the term formula more suitable terms of the type method, p- cedure or algorithm since the corresponding calculations cannot be simply summed up to a single expression, and a verbal description without introducing complicated symbols is more appropriate. The survey has the following ambitions: • The formulas should be applicable in practice: it has motivated their choice for this survey ?rst and foremost. On the other hand it is obvious that by time one puts to use in practice seemingly very abstract formulas of higher mathematics, e.g. when pricing ?nancial derivatives, evaluating ?nancial risks, applying accou- ing principles based on fair values, choosing alternative risk transfers ARL in insurance, and the like. • The formulas should be error-free (though such a goal is not achievable in full) since in the ?nancial and insurance framework one publishes sometimes in a h- tic way various untried formulas and methods that may be incorrect. Of course, the formulas are introduced here without proofs because their derivation is not the task of this survey.
Money And Mathematics
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Author : Ralf Korn
language : en
Publisher: Springer Nature
Release Date : 2021-10-26
Money And Mathematics written by Ralf Korn and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-10-26 with Business & Economics categories.
This book follows a conversational approach in five dozen stories that provide an insight into the colorful world of financial mathematics and financial markets in a relaxed, accessible and entertaining form. The authors present various topics such as returns, real interest rates, present values, arbitrage, replication, options, swaps, the Black-Scholes formula and many more. The readers will learn how to discover, analyze, and deal with the many financial mathematical decisions the daily routine constantly demands. The book covers a wide field in terms of scope and thematic diversity. Numerous stories are inspired by the fields of deterministic financial mathematics, option valuation, portfolio optimization and actuarial mathematics. The book also contains a collection of basic concepts and formulas of financial mathematics and of probability theory. Thus, also readers new to the subject will be provided with all the necessary information to verify the calculations.
Risk Analysis In Finance And Insurance
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Author : Alexander Melnikov
language : en
Publisher: CRC Press
Release Date : 2004-06-02
Risk Analysis In Finance And Insurance written by Alexander Melnikov and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-02 with Mathematics categories.
Historically, financial and insurance risks were separate subjects most often analyzed using qualitative methods. The development of quantitative methods based on stochastic analysis is an important achievement of modern financial mathematics, one that can naturally be extended and applied in actuarial mathematics. Risk Analysis in Finance and Insurance offers the first comprehensive and accessible introduction to the ideas, methods, and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risks. The author's approach is based on a methodology for estimating the present value of future payments given current financial, insurance, and other information, which leads to proper, practical definitions of the price of a financial contract, the premium for an insurance policy, and the reserve of an insurance company. Self-contained and full of exercises and worked examples, Risk Analysis in Finance and Insurance serves equally well as a text for courses in financial and actuarial mathematics and as a valuable reference for financial analysts and actuaries. Ancillary electronic materials will be available for download from the publisher's Web site.
Financial Literacy
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Author : Kenneth Kaminsky
language : en
Publisher: University Press of America
Release Date : 2010-09-28
Financial Literacy written by Kenneth Kaminsky and has been published by University Press of America this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-09-28 with Business & Economics categories.
Financial Literacy is a carefully written, lively, and innovative text that introduces students to the mathematics of interest, annuities, and insurance. Requiring only a background in high school algebra, the book bridges the distance between a rigorous mathematical approach and a formulaic approach to the subject. Financial Literacy is notable for its innovative approach, tested over the years in the classroom, which makes some hard and cumbersome topics much easier to understand and apply. Included are hundreds of examples and solved problems, as well as several hundred exercises backed up by a solutions manual. As well as being ideal for an introductory course in the mathematics of finance, Financial Literacy is suitable for teaching quantitative reasoning by focusing on a particular area of study rather than presenting a smorgasbord of unrelated topics.
Equity Linked Life Insurance
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Author : Alexander Melnikov
language : en
Publisher: CRC Press
Release Date : 2017-09-07
Equity Linked Life Insurance written by Alexander Melnikov and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-07 with Business & Economics categories.
This book focuses on the application of the partial hedging approach from modern math finance to equity-linked life insurance contracts. It provides an accessible, up-to-date introduction to quantifying financial and insurance risks. The book also explains how to price innovative financial and insurance products from partial hedging perspectives. Each chapter presents the problem, the mathematical formulation, theoretical results, derivation details, numerical illustrations, and references to further reading.
Tax Formula For Life Insurance Companies
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Author : United States. Congress. Senate. Committee on Finance
language : en
Publisher:
Release Date : 1955
Tax Formula For Life Insurance Companies written by United States. Congress. Senate. Committee on Finance and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1955 with Insurance companies categories.
Introductory Stochastic Analysis For Finance And Insurance
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Author : X. Sheldon Lin
language : en
Publisher: John Wiley & Sons
Release Date : 2006-04-21
Introductory Stochastic Analysis For Finance And Insurance written by X. Sheldon Lin 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 2006-04-21 with Mathematics categories.
Incorporates the many tools needed for modeling and pricing infinance and insurance Introductory Stochastic Analysis for Finance and Insuranceintroduces readers to the topics needed to master and use basicstochastic analysis techniques for mathematical finance. The authorpresents the theories of stochastic processes and stochasticcalculus and provides the necessary tools for modeling and pricingin finance and insurance. Practical in focus, the book's emphasisis on application, intuition, and computation, rather thantheory. Consequently, the text is of interest to graduate students,researchers, and practitioners interested in these areas. While thetext is self-contained, an introductory course in probabilitytheory is beneficial to prospective readers. This book evolved from the author's experience as an instructor andhas been thoroughly classroom-tested. Following an introduction,the author sets forth the fundamental information and tools neededby researchers and practitioners working in the financial andinsurance industries: * Overview of Probability Theory * Discrete-Time stochastic processes * Continuous-time stochastic processes * Stochastic calculus: basic topics The final two chapters, Stochastic Calculus: Advanced Topics andApplications in Insurance, are devoted to more advanced topics.Readers learn the Feynman-Kac formula, the Girsanov's theorem, andcomplex barrier hitting times distributions. Finally, readersdiscover how stochastic analysis and principles are applied inpractice through two insurance examples: valuation of equity-linkedannuities under a stochastic interest rate environment andcalculation of reserves for universal life insurance. Throughout the text, figures and tables are used to help simplifycomplex theory and pro-cesses. An extensive bibliography opens upadditional avenues of research to specialized topics. Ideal for upper-level undergraduate and graduate students, thistext is recommended for one-semester courses in stochastic financeand calculus. It is also recommended as a study guide forprofessionals taking Causality Actuarial Society (CAS) and Societyof Actuaries (SOA) actuarial examinations.
Tax Formula For Life Insurance Companies
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Author : United States. Congress. Senate. Committee on Finance
language : en
Publisher:
Release Date : 1959
Tax Formula For Life Insurance Companies written by United States. Congress. Senate. Committee on Finance and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1959 with Insurance, Life categories.
Life Insurance Theory
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Author : F. Etienne De Vylder
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-09
Life Insurance Theory written by F. Etienne De Vylder and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-09 with Business & Economics categories.
This book is different from all other books on Life Insurance by at least one of the following characteristics 1-4. 1. The treatment of life insurances at three different levels: time-capital, present value and price level. We call time-capital any distribution of a capital over time: (*) is the time-capital with amounts Cl, ~, ... , C at moments Tl, T , ..• , T resp. N 2 N For instance, let (x) be a life at instant 0 with future lifetime X. Then the whole oO oO life insurance A is the time-capital (I,X). The whole life annuity ä is the x x time-capital (1,0) + (1,1) + (1,2) + ... + (I,'X), where 'X is the integer part ofX. The present value at 0 of time-capital (*) is the random variable T1 T TN Cl V + ~ v , + ... + CNV . (**) In particular, the present value ofA 00 and ä 00 is x x 0 0 2 A = ~ and ä = 1 + v + v + ... + v'X resp. x x The price (or premium) of a time-capital is the expectation of its present value. In particular, the price ofA 00 and äx 00 is x 2 A = E(~) and ä = E(I + v + v + ... + v'X) resp.
Financial Models Of Insurance Solvency
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Author : J. David Cummins
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Financial Models Of Insurance Solvency written by J. David Cummins and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The First International Conference on Insurance Solvency was held at the Wharton School, University of Pennsylvania from June 18th through June 20th, 1986. The conference was the inaugural event for Wharton's Center for Research on Risk and Insurance. In atten dance were thirty-nine representatives from Australia, Canada, France, Germany, Israel, the United Kingdom, and the United States. The papers presented at the Conference are published in two volumes, this book and a companion volume, Classical Insurance Solvency Theory, J. D. Cummins and R. A. Derrig, eds. (Norwell, MA: Kluwer Academic Publishers, 1988). The first volume presented two papers reflecting important advances in actuarial solvency theory. The current volume goes beyond the actuarial approach to encom pass papers applying the insights and techniques of financial economics. The papers fall into two groups. The first group con sists of papers that adopt an essentially actuarial or statistical ap proach to solvency modelling. These papers represent methodology advances over prior efforts at operational modelling of insurance companies. The emphasis is on cash flow analysis and many of the models incorporate investment income, inflation, taxation, and other economic variables. The papers in second group bring financial economics to bear on various aspects of solvency analysis. These papers discuss insurance applications of asset pricing models, capital structure theory, and the economic theory of agency.