Equity Linked Life Insurance

Author : Alexander Melnikov,Amir Nosrati
Publisher : CRC Press
Page : 221 pages
File Size : 47,9 Mb
Release : 2017-09-07
Category : Business & Economics
ISBN : 9781351644792

Get Book

Equity-Linked Life Insurance by Alexander Melnikov,Amir Nosrati Pdf

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.

Author : Mary Hardy
Publisher : John Wiley & Sons
Page : 306 pages
File Size : 41,6 Mb
Release : 2003-04-07
Category : Business & Economics
ISBN : 9780471460121

Get Book

Investment Guarantees by Mary Hardy Pdf

A comprehensive guide to investment guarantees in equity-linked life insurance Due to the convergence of financial and insurance markets, new forms of investment guarantees are emerging which require financial service professionals to become savvier in modeling and risk management. With chapters that discuss stock return models, dynamic hedging, risk measures, Markov Chain Monte Carlo estimation, and much more, this one-stop reference contains the valuable insights and proven techniques that will allow readers to better understand the theory and practice of investment guarantees and equity-linked insurance policies. Mary Hardy, PhD (Waterloo, Ontario, Canada), is an Associate Professor and Associate Chair of Actuarial Science at the University of Waterloo and is a Fellow of the Institute of Actuaries and an Associate of the Society of Actuaries, where she is a frequent speaker. Her research covers topics in life insurance solvency and risk management, with particular emphasis on equity-linked insurance. Hardy is an Associate Editor of the North American Actuarial Journal and the ASTIN Bulletin and is a Deputy Editor of the British Actuarial Journal.

Author : A. J. Stagliano,Hans U. Gerber,Michael Joseph Brennan,William R. Waters
Publisher : Unknown
Page : 164 pages
File Size : 55,7 Mb
Release : 1979
Category : Households
ISBN : 0918930073

Get Book

Pricing and Investment Strategies for Guaranteed Equity-linked Life Insurance by A. J. Stagliano,Hans U. Gerber,Michael Joseph Brennan,William R. Waters Pdf

Author : Michael Joseph Brennan,Eduardo S. Schwartz
Publisher : S.S. Huebner Foundation for Insurance Education
Page : 123 pages
File Size : 54,7 Mb
Release : 1979-01-01
Category : Insurance, Life
ISBN : 0918930073

Get Book

Pricing and Investment Strategies for Guaranteed Equity-linked Life Insurance by Michael Joseph Brennan,Eduardo S. Schwartz Pdf

Author : Runhuan Feng
Publisher : CRC Press
Page : 327 pages
File Size : 47,6 Mb
Release : 2018-06-13
Category : Business & Economics
ISBN : 9781351647724

Get Book

An Introduction to Computational Risk Management of Equity-Linked Insurance by Runhuan Feng Pdf

The quantitative modeling of complex systems of interacting risks is a fairly recent development in the financial and insurance industries. Over the past decades, there has been tremendous innovation and development in the actuarial field. In addition to undertaking mortality and longevity risks in traditional life and annuity products, insurers face unprecedented financial risks since the introduction of equity-linking insurance in 1960s. As the industry moves into the new territory of managing many intertwined financial and insurance risks, non-traditional problems and challenges arise, presenting great opportunities for technology development. Today's computational power and technology make it possible for the life insurance industry to develop highly sophisticated models, which were impossible just a decade ago. Nonetheless, as more industrial practices and regulations move towards dependence on stochastic models, the demand for computational power continues to grow. While the industry continues to rely heavily on hardware innovations, trying to make brute force methods faster and more palatable, we are approaching a crossroads about how to proceed. An Introduction to Computational Risk Management of Equity-Linked Insurance provides a resource for students and entry-level professionals to understand the fundamentals of industrial modeling practice, but also to give a glimpse of software methodologies for modeling and computational efficiency. Features Provides a comprehensive and self-contained introduction to quantitative risk management of equity-linked insurance with exercises and programming samples Includes a collection of mathematical formulations of risk management problems presenting opportunities and challenges to applied mathematicians Summarizes state-of-arts computational techniques for risk management professionals Bridges the gap between the latest developments in finance and actuarial literature and the practice of risk management for investment-combined life insurance Gives a comprehensive review of both Monte Carlo simulation methods and non-simulation numerical methods Runhuan Feng is an Associate Professor of Mathematics and the Director of Actuarial Science at the University of Illinois at Urbana-Champaign. He is a Fellow of the Society of Actuaries and a Chartered Enterprise Risk Analyst. He is a Helen Corley Petit Professorial Scholar and the State Farm Companies Foundation Scholar in Actuarial Science. Runhuan received a Ph.D. degree in Actuarial Science from the University of Waterloo, Canada. Prior to joining Illinois, he held a tenure-track position at the University of Wisconsin-Milwaukee, where he was named a Research Fellow. Runhuan received numerous grants and research contracts from the Actuarial Foundation and the Society of Actuaries in the past. He has published a series of papers on top-tier actuarial and applied probability journals on stochastic analytic approaches in risk theory and quantitative risk management of equity-linked insurance. Over the recent years, he has dedicated his efforts to developing computational methods for managing market innovations in areas of investment combined insurance and retirement planning.

Author : Runhuan Feng
Publisher : CRC Press
Page : 382 pages
File Size : 43,7 Mb
Release : 2018-06-13
Category : Business & Economics
ISBN : 9781498742184

Get Book

An Introduction to Computational Risk Management of Equity-Linked Insurance by Runhuan Feng Pdf

The quantitative modeling of complex systems of interacting risks is a fairly recent development in the financial and insurance industries. Over the past decades, there has been tremendous innovation and development in the actuarial field. In addition to undertaking mortality and longevity risks in traditional life and annuity products, insurers face unprecedented financial risks since the introduction of equity-linking insurance in 1960s. As the industry moves into the new territory of managing many intertwined financial and insurance risks, non-traditional problems and challenges arise, presenting great opportunities for technology development. Today's computational power and technology make it possible for the life insurance industry to develop highly sophisticated models, which were impossible just a decade ago. Nonetheless, as more industrial practices and regulations move towards dependence on stochastic models, the demand for computational power continues to grow. While the industry continues to rely heavily on hardware innovations, trying to make brute force methods faster and more palatable, we are approaching a crossroads about how to proceed. An Introduction to Computational Risk Management of Equity-Linked Insurance provides a resource for students and entry-level professionals to understand the fundamentals of industrial modeling practice, but also to give a glimpse of software methodologies for modeling and computational efficiency. Features Provides a comprehensive and self-contained introduction to quantitative risk management of equity-linked insurance with exercises and programming samples Includes a collection of mathematical formulations of risk management problems presenting opportunities and challenges to applied mathematicians Summarizes state-of-arts computational techniques for risk management professionals Bridges the gap between the latest developments in finance and actuarial literature and the practice of risk management for investment-combined life insurance Gives a comprehensive review of both Monte Carlo simulation methods and non-simulation numerical methods Runhuan Feng is an Associate Professor of Mathematics and the Director of Actuarial Science at the University of Illinois at Urbana-Champaign. He is a Fellow of the Society of Actuaries and a Chartered Enterprise Risk Analyst. He is a Helen Corley Petit Professorial Scholar and the State Farm Companies Foundation Scholar in Actuarial Science. Runhuan received a Ph.D. degree in Actuarial Science from the University of Waterloo, Canada. Prior to joining Illinois, he held a tenure-track position at the University of Wisconsin-Milwaukee, where he was named a Research Fellow. Runhuan received numerous grants and research contracts from the Actuarial Foundation and the Society of Actuaries in the past. He has published a series of papers on top-tier actuarial and applied probability journals on stochastic analytic approaches in risk theory and quantitative risk management of equity-linked insurance. Over the recent years, he has dedicated his efforts to developing computational methods for managing market innovations in areas of investment combined insurance and retirement planning.

Author : Henri Loubergé,Marti G. Subrahmanyam
Publisher : Springer Science & Business Media
Page : 139 pages
File Size : 49,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789400918269

Get Book

Financial Risk and Derivatives by Henri Loubergé,Marti G. Subrahmanyam Pdf

Financial Risk and Derivatives provides an excellent illustration of the links that have developed in recent years between the theory of finance on one hand and insurance economics and actuarial science on the other. Advances in contingent claims analysis and developments in the academic and practical literature dealing with the management of financial risks reflect the close relationships between insurance and innovations in finance. The book represents an overview of the present state of the art in theoretical research dealing with financial issues of significance for insurance science. It will hopefully provide an impetus to further developments in applied insurance research.

Author : Klaus Sandmann,Philip J. Schönbucher
Publisher : Springer Science & Business Media
Page : 325 pages
File Size : 49,5 Mb
Release : 2013-04-18
Category : Business & Economics
ISBN : 9783662047903

Get Book

Advances in Finance and Stochastics by Klaus Sandmann,Philip J. Schönbucher Pdf

In many areas of finance and stochastics, significant advances have been made since this field of research was opened by Black, Scholes and Merton in 1973. This volume contains a collection of original articles by a number of highly distinguished authors, on research topics that are currently in the focus of interest of both academics and practitioners.

Author : Salvatore Greco,Bernadette Bouchon-Meunier,Giulianella Coletti,Mario Fedrizzi,Benedetto Matarazzo,Ronald R. Yager
Publisher : Springer
Page : 692 pages
File Size : 50,9 Mb
Release : 2012-07-23
Category : Computers
ISBN : 9783642317248

Get Book

Advances in Computational Intelligence, Part IV by Salvatore Greco,Bernadette Bouchon-Meunier,Giulianella Coletti,Mario Fedrizzi,Benedetto Matarazzo,Ronald R. Yager Pdf

These four volumes (CCIS 297, 298, 299, 300) constitute the proceedings of the 14th International Conference on Information Processing and Management of Uncertainty in Knowledge-Based Systems, IPMU 2012, held in Catania, Italy, in July 2012. The 258 revised full papers presented together with six invited talks were carefully reviewed and selected from numerous submissions. The papers are organized in topical sections on fuzzy machine learning and on-line modeling; computing with words and decision making; soft computing in computer vision; rough sets and complex data analysis: theory and applications; intelligent databases and information system; information fusion systems; philosophical and methodological aspects of soft computing; basic issues in rough sets; 40th anniversary of the measures of fuziness; SPS11 uncertainty in profiling systems and applications; handling uncertainty with copulas; formal methods to deal with uncertainty of many-valued events; linguistic summarization and description of data; fuzzy implications: theory and applications; sensing and data mining for teaching and learning; theory and applications of intuitionistic fuzzy sets; approximate aspects of data mining and database analytics; fuzzy numbers and their applications; information processing and management of uncertainty in knowledge-based systems; aggregation functions; imprecise probabilities; probabilistic graphical models with imprecision: theory and applications; belief function theory: basics and/or applications; fuzzy uncertainty in economics and business; new trends in De Finetti's approach; fuzzy measures and integrals; multi criteria decision making; uncertainty in privacy and security; uncertainty in the spirit of Pietro Benvenuti; coopetition; game theory; probabilistic approach.

Author : David C. M. Dickson,Mary R. Hardy,Howard R. Waters
Publisher : Cambridge University Press
Page : 785 pages
File Size : 42,9 Mb
Release : 2019-12-19
Category : Business & Economics
ISBN : 9781108478083

Get Book

Actuarial Mathematics for Life Contingent Risks by David C. M. Dickson,Mary R. Hardy,Howard R. Waters Pdf

This very readable book prepares students for professional exams and for real-world actuarial work in life insurance and pensions.

Author : Lorenzo Peccati,Matti Viren
Publisher : Springer Science & Business Media
Page : 374 pages
File Size : 46,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642867064

Get Book

Financial Modelling by Lorenzo Peccati,Matti Viren Pdf

Many models in this volume can be used in solving portfolio problems, in assessing forecasts, in understanding the possible effects of shocks and disturbances.

Author : J. Mills,Vanda Broughton
Publisher : Elsevier
Page : 430 pages
File Size : 49,5 Mb
Release : 2016-06-06
Category : Business & Economics
ISBN : 9781483102771

Get Book

Bliss Bibliographic Classification by J. Mills,Vanda Broughton Pdf

Bliss Bibliographic Classification, Second Edition is an outline composed of thorough and detailed analysis of the vocabulary of economics and management. The book is divided into two chapters. Chapter 1 includes concepts related to the subject, such as the schools of thought in economics, economic history and processes, supply and demand, the price and market system, and economic resources. Chapter 2, on the other hand, is an outline of different concepts related to management, such as the management of economic enterprises, management processes and functions, and management techniques. The text is recommended for economists and financial analysts, especially those who are making studies and are in need of a reference material.

Author : Anonim
Publisher : John Wiley & Sons
Page : 2163 pages
File Size : 41,6 Mb
Release : 2008-09-02
Category : Mathematics
ISBN : 9780470035498

Get Book

Encyclopedia of Quantitative Risk Analysis and Assessment by Anonim Pdf

Leading the way in this field, the Encyclopedia of Quantitative Risk Analysis and Assessment is the first publication to offer a modern, comprehensive and in-depth resource to the huge variety of disciplines involved. A truly international work, its coverage ranges across risk issues pertinent to life scientists, engineers, policy makers, healthcare professionals, the finance industry, the military and practising statisticians. Drawing on the expertise of world-renowned authors and editors in this field this title provides up-to-date material on drug safety, investment theory, public policy applications, transportation safety, public perception of risk, epidemiological risk, national defence and security, critical infrastructure, and program management. This major publication is easily accessible for all those involved in the field of risk assessment and analysis. For ease-of-use it is available in print and online.

Author : John W. Kensinger
Publisher : Emerald Group Publishing
Page : 225 pages
File Size : 44,5 Mb
Release : 2010-03-23
Category : Business & Economics
ISBN : 9781849507264

Get Book

Research in Finance by John W. Kensinger Pdf

Offers insights into economic systems as packages containing multiple real options where the rational exercise of these options then shapes the outcomes from the system. This title also includes chapters that explore the use of commodities like oil as a means of improving the diversification of portfolios containing equities.

Author : Mario V. Wüthrich
Publisher : Springer
Page : 145 pages
File Size : 52,5 Mb
Release : 2016-10-22
Category : Business & Economics
ISBN : 9783319466361

Get Book

Market-Consistent Actuarial Valuation by Mario V. Wüthrich Pdf

This is the third edition of this well-received textbook, presenting powerful methods for measuring insurance liabilities and assets in a consistent way, with detailed mathematical frameworks that lead to market-consistent values for liabilities. Topics covered are stochastic discounting with deflators, valuation portfolio in life and non-life insurance, probability distortions, asset and liability management, financial risks, insurance technical risks, and solvency. Including updates on recent developments and regulatory changes under Solvency II, this new edition of Market-Consistent Actuarial Valuation also elaborates on different risk measures, providing a revised definition of solvency based on industry practice, and presents an adapted valuation framework which takes a dynamic view of non-life insurance reserving risk.