Resumen del libro

Reseña: How can actuaries best equip themselves for the products and risk structures of the future? Using the powerful framework of multiple state models, three leaders in actuarial science give a modern perspective on life contingencies, and develop and demonstrate a theory that can be adapted to changing products and technologies. The book begins traditionally, covering actuarial models and theory, and emphasizing practical applications using computational techniques. The authors then develop a more contemporary outlook, introducing multiple state models, emerging cash flows and embedded options. Using spreadsheet-style software, the book presents large-scale, realistic examples. Over 150 exercises and solutions teach skills in simulation and projection through computational practice. Balancing rigour with intuition, and emphasising applications, this text is ideal for university courses, but also for individuals preparing for professional actuarial exams and qualified actuaries wishing to freshen up their skills.

---

indice: 1 Introduction to life insurance 1
2 Survival models 17
3 Life tables and selection 41
4 Insurance benefits 73
5 Annuities 107
6 Premium calculation 142
7 Policy values 176
8 Multiple state models 230
9 Pension mathematics 290
10 Interest rate risk 326
11 Emerging costs for traditional life insurance 353
12 Emerging costs for equity-linked insurance 374
13 Option pricing 401
14 Embedded options 431
A Probability theory 464
B Numerical techniques 474
C Simulation 480
References 483

---