Actuarial Finance

Actuarial Finance
Author :
Publisher : John Wiley & Sons
Total Pages : 592
Release :
ISBN-10 : 9781119137016
ISBN-13 : 1119137012
Rating : 4/5 (16 Downloads)

Book Synopsis Actuarial Finance by : Mathieu Boudreault

Download or read book Actuarial Finance written by Mathieu Boudreault and published by John Wiley & Sons. This book was released on 2019-03-22 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: A new textbook offering a comprehensive introduction to models and techniques for the emerging field of actuarial Finance Drs. Boudreault and Renaud answer the need for a clear, application-oriented guide to the growing field of actuarial finance with this volume, which focuses on the mathematical models and techniques used in actuarial finance for the pricing and hedging of actuarial liabilities exposed to financial markets and other contingencies. With roots in modern financial mathematics, actuarial finance presents unique challenges due to the long-term nature of insurance liabilities, the presence of mortality or other contingencies and the structure and regulations of the insurance and pension markets. Motivated, designed and written for and by actuaries, this book puts actuarial applications at the forefront in addition to balancing mathematics and finance at an adequate level to actuarial undergraduates. While the classical theory of financial mathematics is discussed, the authors provide a thorough grounding in such crucial topics as recognizing embedded options in actuarial liabilities, adequately quantifying and pricing liabilities, and using derivatives and other assets to manage actuarial and financial risks. Actuarial applications are emphasized and illustrated with about 300 examples and 200 exercises. The book also comprises end-of-chapter point-form summaries to help the reader review the most important concepts. Additional topics and features include: Compares pricing in insurance and financial markets Discusses event-triggered derivatives such as weather, catastrophe and longevity derivatives and how they can be used for risk management; Introduces equity-linked insurance and annuities (EIAs, VAs), relates them to common derivatives and how to manage mortality for these products Introduces pricing and replication in incomplete markets and analyze the impact of market incompleteness on insurance and risk management; Presents immunization techniques alongside Greeks-based hedging; Covers in detail how to delta-gamma/rho/vega hedge a liability and how to rebalance periodically a hedging portfolio. This text will prove itself a firm foundation for undergraduate courses in financial mathematics or economics, actuarial mathematics or derivative markets. It is also highly applicable to current and future actuaries preparing for the exams or actuary professionals looking for a valuable addition to their reference shelf. As of 2019, the book covers significant parts of the Society of Actuaries’ Exams FM, IFM and QFI Core, and the Casualty Actuarial Society’s Exams 2 and 3F. It is assumed the reader has basic skills in calculus (differentiation and integration of functions), probability (at the level of the Society of Actuaries’ Exam P), interest theory (time value of money) and, ideally, a basic understanding of elementary stochastic processes such as random walks.


Actuarial Finance Related Books

Actuarial Finance
Language: en
Pages: 592
Authors: Mathieu Boudreault
Categories: Mathematics
Type: BOOK - Published: 2019-03-22 - Publisher: John Wiley & Sons

DOWNLOAD EBOOK

A new textbook offering a comprehensive introduction to models and techniques for the emerging field of actuarial Finance Drs. Boudreault and Renaud answer the
Financial Mathematics For Actuarial Science
Language: en
Pages: 363
Authors: Richard James Wilders
Categories: Business & Economics
Type: BOOK - Published: 2020-01-24 - Publisher: CRC Press

DOWNLOAD EBOOK

Financial Mathematics for Actuarial Science: The Theory of Interest is concerned with the measurement of interest and the various ways interest affects what is
Regression Modeling with Actuarial and Financial Applications
Language: en
Pages: 585
Authors: Edward W. Frees
Categories: Business & Economics
Type: BOOK - Published: 2010 - Publisher: Cambridge University Press

DOWNLOAD EBOOK

This book teaches multiple regression and time series and how to use these to analyze real data in risk management and finance.
Introduction to Actuarial and Financial Mathematical Methods
Language: en
Pages: 622
Authors: Stephen Garrett
Categories: Mathematics
Type: BOOK - Published: 2015-05-02 - Publisher: Academic Press

DOWNLOAD EBOOK

This self-contained module for independent study covers the subjects most often needed by non-mathematics graduates, such as fundamental calculus, linear algebr
Financial and Actuarial Mathematics
Language: en
Pages: 335
Authors: Wai-Sum Chan
Categories: Actuaries
Type: BOOK - Published: 2007 - Publisher:

DOWNLOAD EBOOK