Risk Analysis In Finance And Insurance

Author : Alexander Melnikov
Publisher : CRC Press
Page : 267 pages
File Size : 48,5 Mb
Release : 2004-06-02
Category : Mathematics
ISBN : 9781135437459

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Risk Analysis in Finance and Insurance by Alexander Melnikov Pdf

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.

Author : A. V. Melʹnikov
Publisher : Unknown
Page : 0 pages
File Size : 54,9 Mb
Release : 2012
Category : Finance
ISBN : OCLC:1078694527

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Risk Analysis in Finance and Insurance by A. V. Melʹnikov Pdf

Author : Alexander Melnikov
Publisher : CRC Press
Page : 330 pages
File Size : 50,5 Mb
Release : 2011-04-25
Category : Mathematics
ISBN : 9781420070521

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Risk Analysis in Finance and Insurance, Second Edition by Alexander Melnikov Pdf

Risk Analysis in Finance and Insurance, Second Edition presents an accessible yet comprehensive introduction to the main concepts and methods that transform risk management into a quantitative science. Taking into account the interdisciplinary nature of risk analysis, the author discusses many important ideas from mathematics, finance, and actuarial science in a simplified manner. He explores the interconnections among these disciplines and encourages readers toward further study of the subject. This edition continues to study risks associated with financial and insurance contracts, using an approach that estimates the value of future payments based on current financial, insurance, and other information. New to the Second Edition Expanded section on the foundations of probability and stochastic analysis Coverage of new topics, including financial markets with stochastic volatility, risk measures, risk-adjusted performance measures, and equity-linked insurance More worked examples and problems Reorganized and expanded, this updated book illustrates how to use quantitative methods of stochastic analysis in modern financial mathematics. These methods can be naturally extended and applied in actuarial science, thus leading to unified methods of risk analysis and management.

Author : Annamaria Olivieri,Ermanno Pitacco
Publisher : Springer
Page : 508 pages
File Size : 49,7 Mb
Release : 2015-09-30
Category : Mathematics
ISBN : 9783319213774

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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 : A. V. Melʹnikov
Publisher : Unknown
Page : 128 pages
File Size : 45,7 Mb
Release : 2010-08-15
Category : Finance
ISBN : 1439830045

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Risk Analysis in Finance and Insurance Second Edition - Solutions Manual by A. V. Melʹnikov Pdf

Risk Analysis in Finance and Insurance, Second Edition presents an accessible yet comprehensive introduction to the main concepts and methods that transform risk management into a quantitative science. Taking into account the interdisciplinary nature of risk analysis, the author discusses many important ideas from mathematics, finance, and actuarial science in a simplified manner. He explores the interconnections among these disciplines and encourages readers toward further study of the subject. This edition continues to study risks associated with financial and insurance contracts, using an approach that estimates the value of future payments based on current financial, insurance, and other information. New to the Second Edition Expanded section on the foundations of probability and stochastic analysis Coverage of new topics, including financial markets with stochastic volatility, risk measures, risk-adjusted performance measures, and equity-linked insurance More worked examples and problems Reorganized and expanded, this updated book illustrates how to use quantitative methods of stochastic analysis in modern financial mathematics. These methods can be naturally extended and applied in actuarial science, thus leading to unified methods of risk analysis and management.

Author : Ricardas Zitikis,Jiandong Ren,Kristina Sendova
Publisher : MDPI
Page : 210 pages
File Size : 50,9 Mb
Release : 2020-04-02
Category : Business & Economics
ISBN : 9783039285167

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Risk, Ruin and Survival by Ricardas Zitikis,Jiandong Ren,Kristina Sendova Pdf

Developing techniques for assessing various risks and calculating probabilities of ruin and survival are exciting topics for mathematically-inclined academics. For practicing actuaries and financial engineers, the resulting insights have provided enormous opportunities but also created serious challenges to overcome, thus facilitating closer cooperation between industries and academic institutions. In this book, several renown researchers with extensive interdisciplinary research experiences share their thoughts that, in one way or another, contribute to the betterment of practice and theory of decision making under uncertainty. Behavioral, cultural, mathematical, and statistical aspects of risk assessment and modelling have been explored, and have been often illustrated using real and simulated data. Topics range from financial and insurance risks to security-type risks, from one-dimensional to multi- and even infinite-dimensional risks. The articles in the book were written with a broad audience in mind and should provide enjoyable reading for those with university level degrees and/or those who have studied for accreditation by various actuarial and financial societies.

Author : Andrew Lacey
Publisher : Createspace Independent Publishing Platform
Page : 214 pages
File Size : 48,9 Mb
Release : 2016-08-06
Category : Electronic
ISBN : 1536926876

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Insurance Company Financial & Risk Analysis by Andrew Lacey Pdf

This book provides professional-level information on how to analyze the financial and business well-being of all types of insurance company, including Lloyd's of London syndicates. The proposed risk-based assessment framework will enable better Credit, Investment, Policy and other decisions, subject to the risk-averse stance of decision-makers.

Author : Henrik Hult,Filip Lindskog,Ola Hammarlid,Carl Johan Rehn
Publisher : Springer Science & Business Media
Page : 343 pages
File Size : 49,7 Mb
Release : 2012-07-20
Category : Mathematics
ISBN : 9781461441038

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Risk and Portfolio Analysis by Henrik Hult,Filip Lindskog,Ola Hammarlid,Carl Johan Rehn Pdf

Investment and risk management problems are fundamental problems for financial institutions and involve both speculative and hedging decisions. A structured approach to these problems naturally leads one to the field of applied mathematics in order to translate subjective probability beliefs and attitudes towards risk and reward into actual decisions. In Risk and Portfolio Analysis the authors present sound principles and useful methods for making investment and risk management decisions in the presence of hedgeable and non-hedgeable risks using the simplest possible principles, methods, and models that still capture the essential features of the real-world problems. They use rigorous, yet elementary mathematics, avoiding technically advanced approaches which have no clear methodological purpose and are practically irrelevant. The material progresses systematically and topics such as the pricing and hedging of derivative contracts, investment and hedging principles from portfolio theory, and risk measurement and multivariate models from risk management are covered appropriately. The theory is combined with numerous real-world examples that illustrate how the principles, methods, and models can be combined to approach concrete problems and to draw useful conclusions. Exercises are included at the end of the chapters to help reinforce the text and provide insight. This book will serve advanced undergraduate and graduate students, and practitioners in insurance, finance as well as regulators. Prerequisites include undergraduate level courses in linear algebra, analysis, statistics and probability.

Author : Antonio Borghesi,Barbara Gaudenzi
Publisher : Springer Science & Business Media
Page : 139 pages
File Size : 51,6 Mb
Release : 2012-10-06
Category : Business & Economics
ISBN : 9788847025301

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Risk Management by Antonio Borghesi,Barbara Gaudenzi Pdf

Businesses now operate amid a welter of risks that exist at various levels, both inside companies and at the network level. This handbook provides the latest integrated managerial approaches that help protect businesses from adverse events and their effects.

Author : Ludger Rüschendorf
Publisher : Springer Science & Business Media
Page : 414 pages
File Size : 40,7 Mb
Release : 2013-03-12
Category : Mathematics
ISBN : 9783642335907

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Mathematical Risk Analysis by Ludger Rüschendorf Pdf

The author's particular interest in the area of risk measures is to combine this theory with the analysis of dependence properties. The present volume gives an introduction of basic concepts and methods in mathematical risk analysis, in particular of those parts of risk theory that are of special relevance to finance and insurance. Describing the influence of dependence in multivariate stochastic models on risk vectors is the main focus of the text that presents main ideas and methods as well as their relevance to practical applications. The first part introduces basic probabilistic tools and methods of distributional analysis, and describes their use to the modeling of dependence and to the derivation of risk bounds in these models. In the second, part risk measures with a particular focus on those in the financial and insurance context are presented. The final parts are then devoted to applications relevant to optimal risk allocation, optimal portfolio problems as well as to the optimization of insurance contracts. Good knowledge of basic probability and statistics as well as of basic general mathematics is a prerequisite for comfortably reading and working with the present volume, which is intended for graduate students, practitioners and researchers and can serve as a reference resource for the main concepts and techniques.

Author : GARP (Global Association of Risk Professionals),Richard Apostolik,Christopher Donohue
Publisher : John Wiley & Sons
Page : 368 pages
File Size : 43,7 Mb
Release : 2015-05-27
Category : Business & Economics
ISBN : 9781119106395

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Foundations of Financial Risk by GARP (Global Association of Risk Professionals),Richard Apostolik,Christopher Donohue Pdf

Gain a deeper understanding of the issues surrounding financial risk and regulation Foundations of Financial Risk details the various risks, regulations, and supervisory requirements institutions face in today's economic and regulatory environment. Written by the experts at the Global Association of Risk Professionals (GARP), this book represents an update to GARP's original publication, Foundations of Banking Risk. You'll learn the terminology and basic concepts surrounding global financial risk and regulation, and develop an understanding of the methods used to measure and manage market, credit, and operational risk. Coverage includes traded market risk and regulation, treasury risk and regulation, and much more, including brand new coverage of risk management for insurance companies. Clear explanations, focused discussion, and comprehensive relevancy make this book an ideal resource for an introduction to risk management. The textbook provides an understanding of risk management methodologies, governance structures for risk management in financial institutions and the regulatory requirements dictated by the Basel Committee on Banking Supervision. It provides thorough coverage of the issues surrounding financial risk, giving you a solid knowledgebase and a practical, applicable understanding. Understand risk measurement and management Learn how minimum capital requirements are regulated Explore all aspects of financial institution regulation and disclosure Master the terminology of global risk and regulation Financial institutions and supervisors around the world are increasingly recognizing how vital sound risk management practices are to both individual firms and the capital markets system as a whole. Savvy professionals recognize the need for authoritative and comprehensive training, and Foundations of Financial Risk delivers with expert-led education for those new to risk management.

Author : Martin Bird,Tim Gordon
Publisher : A&C Black
Page : 208 pages
File Size : 43,9 Mb
Release : 2013-09-26
Category : Business & Economics
ISBN : 9781849300674

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Risk Management Issues in Insurance by Martin Bird,Tim Gordon Pdf

The financial crisis of 2008 had little impact on the insurance industry globally, unlike the solvency issues within other financial sectors. This title looks at the major risk concerns within insurance and how the industry as a whole deals with potential threats to its business in the short, medium, and long term. It will demystify how insurers cope with liquidity risk, counterparty risk, tail-event risk (catastrophe), longevity risk, and the impact of climate change.

Author : Søren Asmussen,Mogens Steffensen
Publisher : Springer Nature
Page : 505 pages
File Size : 50,6 Mb
Release : 2020-04-17
Category : Mathematics
ISBN : 9783030351762

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Risk and Insurance by Søren Asmussen,Mogens Steffensen Pdf

This textbook provides a broad overview of the present state of insurance mathematics and some related topics in risk management, financial mathematics and probability. Both non-life and life aspects are covered. The emphasis is on probability and modeling rather than statistics and practical implementation. Aimed at the graduate level, pointing in part to current research topics, it can potentially replace other textbooks on basic non-life insurance mathematics and advanced risk management methods in non-life insurance. Based on chapters selected according to the particular topics in mind, the book may serve as a source for introductory courses to insurance mathematics for non-specialists, advanced courses for actuarial students, or courses on probabilistic aspects of risk. It will also be useful for practitioners and students/researchers in related areas such as finance and statistics who wish to get an overview of the general area of mathematical modeling and analysis in insurance.

Author : David Louis Olson,Desheng Dash Wu
Publisher : World Scientific
Page : 265 pages
File Size : 52,7 Mb
Release : 2008
Category : Business & Economics
ISBN : 9789812791481

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Enterprise Risk Management by David Louis Olson,Desheng Dash Wu Pdf

This book expands the scope of risk management beyond insurance and finance to include accounting risk, terrorism, and other issues that can threaten an organization. It approaches risk management from five perspectives: in addition to the core perspective of financial risk management, it addresses perspectives of accounting, supply chains, information systems, and disaster management. It also covers balanced scorecards, multiple criteria analysis, simulation, data envelopment analysis, and financial risk measures that help assess risk, thereby enabling a well-informed managerial decision making.The book concludes by looking at four case studies, which cover a wide range of topics. These include such practical issues as the development and implementation of a sound risk management structure; supply chain risk and enterprise resource planning systems in information systems, and disaster management.

Author : Simon Grima,Ercan Özen,Rebecca Dalli Gonzi
Publisher : Emerald Group Publishing
Page : 320 pages
File Size : 40,8 Mb
Release : 2022-01-24
Category : Business & Economics
ISBN : 9781801171397

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Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems by Simon Grima,Ercan Özen,Rebecca Dalli Gonzi Pdf

Insurance and Risk Management for Disruptions in Social, Economic and Environmental Systems is a collection of 13 chapters and studies about Insurance and Risk management in response to disruptions caused by social, economic, and environmental challenges to try and stabilize the economy in an effort to ensure sustainability.