Reinsurance is an important production factor of non-life insurance. The efficiency and the capacity of the reinsurance market directly regulate those of insurance markets. The purpose of this book is to provide a concise introduction to risk theory, as well as to its main application procedures to reinsurance.
The first part of the book covers risk theory. It presents the most prevalent model of ruin theory, as well as a discussion on insurance premium calculation principles and the mathematical tools that enable portfolios to be ordered according to their risk levels.
The...
Reinsurance is an important production factor of non-life insurance. The efficiency and the capacity of the reinsurance market directly regulate th...
Advances in Advertising Research are published by the European Advertising Academy (EAA). This volume is a compilation of research presented at the 11th International Conference in Advertising (ICORIA) which was held in Stockholm (Sweden) in June 2012. The conference gathered 150 leading researchers from 22 countries under the conference theme "The changing roles of advertising." The book provides international state-of-the-art research with 30 articles by renowned scholars from the worldwide ICORIA network.
Advances in Advertising Research are published by the European Advertising Academy (EAA). This volume is a compilation of research presented at...
Backward stochastic differential equations with jumps can be used to solve problems in both finance and insurance.
Part I of this book presents the theory of BSDEs with Lipschitz generators driven by a Brownian motion and a compensated random measure, with an emphasis on those generated by step processes and Levy processes. It discusses key results and techniques (including numerical algorithms) for BSDEs with jumps and studies filtration-consistent nonlinear expectations and g-expectations. Part I also focuses on the mathematical tools and proofs which are crucial for understanding the...
Backward stochastic differential equations with jumps can be used to solve problems in both finance and insurance.
Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to classical internal control and classical risk management are used. Therefore the approach taken is necessarily interdisciplinary. Indeed, there is a new dynamically developing field for actuaries as a result of the emphasis now on the measurement of risk.
This book provides the required basic knowledge for this subject from an actuarial perspective. It enables the reader to implement in practice a risk management system that is based on...
Value- and risk-oriented management is a holistic method of managing businesses. In this book both actuarial methods and methods pertaining to clas...
Health Insurance aims at filling a gap in actuarial literature, attempting to solve the frequent misunderstanding in regards to both the purpose and the contents of health insurance products (and protection products, more generally) on the one hand, and the relevant actuarial structures on the other.
In order to cover the basic principles regarding health insurance techniques, the first few chapters in this book are mainly devoted to the need for health insurance and a description of insurance products in this area (sickness insurance, accident insurance, critical illness...
Health Insurance aims at filling a gap in actuarial literature, attempting to solve the frequent misunderstanding in regards to both the pur...
Focusing on life insurance and pensions, this book addresses various aspects of modelling in modern insurance: insurance liabilities; asset-liability management; securitization, hedging, and investment strategies. With contributions from internationally renowned academics in actuarial science, finance, and management science and key people in major life insurance and reinsurance companies, there is expert coverage of a wide range of topics, for example: models in life insurance and their roles in decision making; an account of the contemporary history of insurance and life insurance...
Focusing on life insurance and pensions, this book addresses various aspects of modelling in modern insurance: insurance liabilities; asset-liabili...
This handbook presents the basic aspects of actuarial loss reserving. Besides the traditional methods, it also includes a description of more recent ones and a discussion of certain problems occurring in actuarial practice, like inflation, scarce data, large claims, slow loss development, the use of market statistics, the need for simulation techniques and the task of calculating best estimates and ranges of future losses.
In property and casualty insurance the provisions for payment obligations from losses that have occurred but have not yet been settled usually constitute the...
This handbook presents the basic aspects of actuarial loss reserving. Besides the traditional methods, it also includes a description of more recen...
It is a challenging task to read the balance sheet of an insurance company. This derives from the fact that different positions are often measured by different yardsticks. Assets, for example, are mostly valued at market prices whereas liabilities are often measured by established actuarial methods. However, there is a general agreement that the balance sheet of an insurance company should be measured in a consistent way. Market-Consistent Actuarial Valuation presents powerful methods to measure liabilities and assets in a consistent way. The mathematical framework that leads to...
It is a challenging task to read the balance sheet of an insurance company. This derives from the fact that different positions are often measured by ...