ABSTRACT

In the years since the publication of the best-selling first edition, the incorporation of ideas and theories from the rapidly growing field of financial economics has precipitated considerable development of thinking in the actuarial profession. Modern Actuarial Theory and Practice, Second Edition integrates those changes and presents an up-to-date, comprehensive overview of UK and international actuarial theory, practice and modeling. It describes all of the traditional areas of actuarial activity, but in a manner that highlights the fundamental principles of actuarial theory and practice as well as their economic, financial, and statistical foundations.

part I|193 pages

Investment

chapter Chapter 1|19 pages

The Widening Scope of Actuarial Theory and Practice

chapter Chapter 2|41 pages

Investments and Valuation

chapter Chapter 3|61 pages

General Principles of Asset Allocation

chapter Chapter 4|15 pages

Investment Risk

part II|172 pages

Life Insurance

chapter Chapter 6|22 pages

Fundamental Features of Life Insurance

chapter Chapter 7|34 pages

Nonparticipating Life Insurance

chapter Chapter 8|27 pages

Participating Life Insurance

chapter Chapter 10|35 pages

Life Office Risks and Risk Management

chapter Chapter 11|28 pages

The Actuarial Role in Life Office Management

part III|189 pages

General Insurance

chapter Chapter 12|19 pages

Introduction to General Insurance

chapter Chapter 13|14 pages

General Insurance Accounts

chapter Chapter 14|46 pages

Premium Rating

chapter Chapter 15|41 pages

Reinsurance

chapter Chapter 16|65 pages

Reserving

part IV|136 pages

Pension

chapter Chapter 17|19 pages

Types of Pension Plan

chapter Chapter 18|55 pages

Actuarial Modeling of Defined-Benefit Plans

chapter Chapter 19|27 pages

Investment Strategies for Defined-Benefit Plans

chapter Chapter 20|30 pages

Individual Pension Choices

part V|91 pages

Health Insurance

chapter Chapter 21|9 pages

An Introduction to Health Insurance

chapter Chapter 22|22 pages

Income Protection Insurance

chapter Chapter 23|20 pages

Critical Illness

chapter Chapter 24|17 pages

Long-Term Care

chapter Chapter 25|19 pages

Private Medical Insurance