An Introduction to Actuarial Mathematics

This text has been written by a renowned statistician and a practising actuaryprimarily as an introduction to the basics of the actuarial mathematics of lifeins... » 

This text has been written by a renowned statistician and a practising actuaryprimarily as an introduction to the basics of the actuarial mathematics of lifeinsurance. Since it attempts to derive the results in a mathematically rigorousway the concepts and techniques of onevariable calculus and probabilitytheory have been used throughout. BRTopics dealt with include importantconcepts of financial mathematics the concept of interests annuitiescertainmortality theory different types of life insurances stochastic cash flows ingeneral and pure endowments whole life and term insurances endowments andlife annuities in particular premium calculations reserves mortality profitand negative reserves. BRThe book contains many systematically solved examplesshowing the practical applications of the theory presented. Solving theproblems at the end of each section is essential for understanding thematerial. Answers to oddnumbered problems are given at the end of the volume. «