Actuarial Finance

Catalog description

Actuarial Finance This course presents a unified approach to both financial and actuarial modeling through the use of general status structures. It defines future time-dependent financial actions in terms of a status structure that may be either deterministic or stochastic. The course also shows how deterministic status structures lead to classical interest and annuity models, investment pricing models, and aggregate claim models. Finally, it employs stochastic status structures to develop financial and actuarial models, such as surplus models, life insurance, and life annuity models.