Modelling Longevity Dynamics For Pensions And Annuity Business

Author : Ermanno Pitacco,Michel Denuit,Steven Haberman,Annamaria Olivieri
Publisher : OUP Oxford
Page : 416 pages
File Size : 49,8 Mb
Release : 2009-01-29
Category : Business & Economics
ISBN : 9780191609428

Get Book

Modelling Longevity Dynamics for Pensions and Annuity Business by Ermanno Pitacco,Michel Denuit,Steven Haberman,Annamaria Olivieri Pdf

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.

Author : Ermanno Pitacco
Publisher : Unknown
Page : 0 pages
File Size : 44,8 Mb
Release : 2023
Category : Life insurance
ISBN : 1383045305

Get Book

Modelling Longevity Dynamics for Pensions and Annuity Business by Ermanno Pitacco Pdf

This text provides a comprehensive and detailed description of statistical methods for projecting mortality, and an extensive discussion of some important issues concerning the longevity risk in the area of life annuities and pension benefits.

Author : Ermanno Pitacco,Michel Denuit,Steven Haberman,Annamaria Olivieri
Publisher : OUP Oxford
Page : 417 pages
File Size : 42,8 Mb
Release : 2009-01-29
Category : Business & Economics
ISBN : 9780191563157

Get Book

Modelling Longevity Dynamics for Pensions and Annuity Business by Ermanno Pitacco,Michel Denuit,Steven Haberman,Annamaria Olivieri Pdf

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.

Author : OECD
Publisher : OECD Publishing
Page : 192 pages
File Size : 41,7 Mb
Release : 2014-12-08
Category : Electronic
ISBN : 9789264222748

Get Book

Mortality Assumptions and Longevity Risk Implications for pension funds and annuity providers by OECD Pdf

The publication assess how pension funds, annuity providers such as life insurance companies, and the regulatory framework incorporate future improvements in mortality and life expectancy.

Author : David Blake
Publisher : John Wiley & Sons
Page : 270 pages
File Size : 55,7 Mb
Release : 2006-11-02
Category : Business & Economics
ISBN : 0470058714

Get Book

Pension Economics by David Blake Pdf

While not attempting to train readers as professional economists, this book aims to provide a secure grounding in the theory and practice of economics insofar as it deals with pension matters. From reading this book, the user will understand: * The key types of pension scheme * The role of pensions in maximizing individual lifetime welfare * The role of pensions in individual savings and retirement decisions * The role and consequences of the pension plan from the company's viewpoint * The role of pensions in promoting aggregate savings * The role of pensions and retirement in overlapping generations models * The economics of ageing and intergenerational accounting * The social welfare implications of pensions * The lessons of behavioural economics for pensions

Author : Anna Esposito,Marcos Faundez-Zanuy,Francesco Carlo Morabito,Eros Pasero
Publisher : Springer
Page : 318 pages
File Size : 40,8 Mb
Release : 2018-07-21
Category : Technology & Engineering
ISBN : 9783319950983

Get Book

Neural Advances in Processing Nonlinear Dynamic Signals by Anna Esposito,Marcos Faundez-Zanuy,Francesco Carlo Morabito,Eros Pasero Pdf

This book proposes neural networks algorithms and advanced machine learning techniques for processing nonlinear dynamic signals such as audio, speech, financial signals, feedback loops, waveform generation, filtering, equalization, signals from arrays of sensors, and perturbations in the automatic control of industrial production processes. It also discusses the drastic changes in financial, economic, and work processes that are currently being experienced by the computational and engineering sciences community. Addresses key aspects, such as the integration of neural algorithms and procedures for the recognition, the analysis and detection of dynamic complex structures and the implementation of systems for discovering patterns in data, the book highlights the commonalities between computational intelligence (CI) and information and communications technologies (ICT) to promote transversal skills and sophisticated processing techniques. This book is a valuable resource for a. The academic research community b. The ICT market c. PhD students and early stage researchers d. Companies, research institutes e. Representatives from industry and standardization bodies

Author : group of authors
Publisher : Czech Institute of Academic Education z.s.
Page : 143 pages
File Size : 43,6 Mb
Release : 2016-07-01
Category : Business & Economics
ISBN : 9788090623101

Get Book

Proceedings of IAC-MEM 2016 in Bratislava by group of authors Pdf

International Academic Conference on Management, Economics and Marketing in Bratislava, Slovakia 2016 (IAC-MEM 2016), Wednesday - Thursday, July 6 - 7, 2016

Author : Annamaria Olivieri,Ermanno Pitacco
Publisher : Springer
Page : 508 pages
File Size : 44,7 Mb
Release : 2015-09-30
Category : Mathematics
ISBN : 9783319213774

Get Book

Introduction to Insurance Mathematics by Annamaria Olivieri,Ermanno Pitacco Pdf

This second edition expands the first chapters, which focus on the approach to risk management issues discussed in the first edition, to offer readers a better understanding of the risk management process and the relevant quantitative phases. In the following chapters the book examines life insurance, non-life insurance and pension plans, presenting the technical and financial aspects of risk transfers and insurance without the use of complex mathematical tools. The book is written in a comprehensible style making it easily accessible to advanced undergraduate and graduate students in Economics, Business and Finance, as well as undergraduate students in Mathematics who intend starting on an actuarial qualification path. With the systematic inclusion of practical topics, professionals will find this text useful when working in insurance and pension related areas, where investments, risk analysis and financial reporting play a major role.

Author : Ermanno Pitacco
Publisher : Springer Nature
Page : 236 pages
File Size : 43,7 Mb
Release : 2020-08-25
Category : Business & Economics
ISBN : 9783030498528

Get Book

ERM and QRM in Life Insurance by Ermanno Pitacco Pdf

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.

Author : Luca Regis
Publisher : MDPI
Page : 165 pages
File Size : 40,7 Mb
Release : 2018-02-22
Category : Electronic
ISBN : 9783038427308

Get Book

Actuarial and Financial Risks in Life Insurance, Pensions Pensions and Household Finance by Luca Regis Pdf

This book is a printed edition of the Special Issue "Actuarial and Financial Risks in Life Insurance, Pensions and Household Finance" that was published in Risks

Author : John O. Ward,Robert J. Thornton
Publisher : Emerald Group Publishing
Page : 300 pages
File Size : 42,8 Mb
Release : 2009-10-22
Category : Law
ISBN : 9781848553033

Get Book

Personal Injury and Wrongful Death Damages Calculations by John O. Ward,Robert J. Thornton Pdf

Focuses on litigation damages, economic and non-economic, including punitive damages; their definitions, calculations, and assignments in the US and EU. This book examines areas of convergence and divergence in the academic and practical treatment of damages issues in the US and EU.

Author : Wookjae Heo
Publisher : Springer Nature
Page : 163 pages
File Size : 50,7 Mb
Release : 2019-12-27
Category : Business & Economics
ISBN : 9783030369033

Get Book

The Demand for Life Insurance by Wookjae Heo Pdf

This book, adopting machine learning techniques for the financial planning field, explores the demand for life insurance as seen in previous literature and both estimates and predicts the demand for the adoption of life insurance using these techniques. Previous studies used diverse perspectives, like actuarial and life span, in order to understand the demand for life insurance, though these approaches have shown inconsistent findings. Employing two theoretical backgrounds—ecological systemic theory and artificial intellectual methodology—this book explores a better estimation and a prediction of the demand for life insurance and will be of interest to academics and students of insurance, financial planning, and risk management.

Author : Bruno Apolloni
Publisher : IOS Press
Page : 348 pages
File Size : 54,5 Mb
Release : 2011
Category : Computers
ISBN : 9781607506911

Get Book

Neural Nets WIRN10 by Bruno Apolloni Pdf

Author : Marco Corazza,María Durbán,Aurea Grané,Cira Perna,Marilena Sibillo
Publisher : Springer
Page : 518 pages
File Size : 52,9 Mb
Release : 2018-07-17
Category : Business & Economics
ISBN : 9783319898247

Get Book

Mathematical and Statistical Methods for Actuarial Sciences and Finance by Marco Corazza,María Durbán,Aurea Grané,Cira Perna,Marilena Sibillo Pdf

The interaction between mathematicians, statisticians and econometricians working in actuarial sciences and finance is producing numerous meaningful scientific results. This volume introduces new ideas, in the form of four-page papers, presented at the international conference Mathematical and Statistical Methods for Actuarial Sciences and Finance (MAF), held at Universidad Carlos III de Madrid (Spain), 4th-6th April 2018. The book covers a wide variety of subjects in actuarial science and financial fields, all discussed in the context of the cooperation between the three quantitative approaches. The topics include: actuarial models; analysis of high frequency financial data; behavioural finance; carbon and green finance; credit risk methods and models; dynamic optimization in finance; financial econometrics; forecasting of dynamical actuarial and financial phenomena; fund performance evaluation; insurance portfolio risk analysis; interest rate models; longevity risk; machine learning and soft-computing in finance; management in insurance business; models and methods for financial time series analysis, models for financial derivatives; multivariate techniques for financial markets analysis; optimization in insurance; pricing; probability in actuarial sciences, insurance and finance; real world finance; risk management; solvency analysis; sovereign risk; static and dynamic portfolio selection and management; trading systems. This book is a valuable resource for academics, PhD students, practitioners, professionals and researchers, and is also of interest to other readers with quantitative background knowledge.

Author : Michel Denuit,Donatien Hainaut,Julien Trufin
Publisher : Springer Nature
Page : 441 pages
File Size : 48,7 Mb
Release : 2019-09-03
Category : Business & Economics
ISBN : 9783030258207

Get Book

Effective Statistical Learning Methods for Actuaries I by Michel Denuit,Donatien Hainaut,Julien Trufin Pdf

This book summarizes the state of the art in generalized linear models (GLMs) and their various extensions: GAMs, mixed models and credibility, and some nonlinear variants (GNMs). In order to deal with tail events, analytical tools from Extreme Value Theory are presented. Going beyond mean modeling, it considers volatility modeling (double GLMs) and the general modeling of location, scale and shape parameters (GAMLSS). Actuaries need these advanced analytical tools to turn the massive data sets now at their disposal into opportunities. The exposition alternates between methodological aspects and case studies, providing numerical illustrations using the R statistical software. The technical prerequisites are kept at a reasonable level in order to reach a broad readership. This is the first of three volumes entitled Effective Statistical Learning Methods for Actuaries. Written by actuaries for actuaries, this series offers a comprehensive overview of insurance data analytics with applications to P&C, life and health insurance. Although closely related to the other two volumes, this volume can be read independently.