- Provides a comprehensive coverage of both the deterministic and stochastic models of life contingencies, risk theory, credibility theory, multi-state models, and an introduction to modern mathematical ﬁnance.
- New edition restructures the material to ﬁt into modern computational methods and provides several spreadsheet examples throughout.
- Covers the syllabus for the Institute of Actuaries subject CT5, Contingencies
- Includes new chapters covering stochastic investments returns, universal life insurance. Elements of option pricing and the Black-Scholes formula will be introduced.
Keywords: stochastic models; life; coverage; contingencies; deterministic; actuarial mathematics; models; nance; multistate; modern; introduction; mathematical; edition; financial; new; mathematics; fundamental; formula; asset; theorem; blackscholes, Insurance & Risk Management, Business & Finance, Insurance & Risk Management, Business & Finance