Modelling Longevity Dynamics For Pensions And Annuity Business PDF Download
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Author | : Ermanno Pitacco |
Publisher | : OUP Oxford |
Total Pages | : 416 |
Release | : 2009-01-29 |
Genre | : Business & Economics |
ISBN | : 0191609420 |
Download Modelling Longevity Dynamics for Pensions and Annuity Business Book in PDF, ePub and Kindle
Mortality improvements, uncertainty in future mortality trends and the relevant impact on life annuities and pension plans constitute important topics in the field of actuarial mathematics and life insurance techniques. In particular, actuarial calculations concerning pensions, life annuities and other living benefits (provided, for example, by long-term care insurance products and whole life sickness covers) are based on survival probabilities which necessarily extend over a long time horizon. In order to avoid underestimation of the related liabilities, the insurance company (or the pension plan) must adopt an appropriate forecast of future mortality. Great attention is currently being devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes. In particular, the progressive shift from defined benefit to defined contribution pension schemes has increased the interest in life annuities with a guaranteed annual amount. This book provides a comprehensive and detailed description of methods for projecting mortality, and an extensive introduction to some important issues concerning longevity risk in the area of life annuities and pension benefits. It relies on research work carried out by the authors, as well as on a wide teaching experience and in CPD (Continuing Professional Development) initiatives. The following topics are dealt with: life annuities in the framework of post-retirement income strategies; the basic mortality model; recent mortality trends that have been experienced; general features of projection models; discussion of stochastic projection models, with numerical illustrations; measuring and managing longevity risk.
Author | : Ermanno Pitacco |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : Life insurance |
ISBN | : 9781383045307 |
Download Modelling Longevity Dynamics for Pensions and Annuity Business Book in PDF, ePub and Kindle
This text provides a comprehensive and detailed description of statistical methods for projecting mortality, and an extensive discussion of some important issues concerning the longevity risk in the area of life annuities and pension benefits.
Author | : OECD |
Publisher | : OECD Publishing |
Total Pages | : 194 |
Release | : 2014-12-08 |
Genre | : |
ISBN | : 926422274X |
Download Mortality Assumptions and Longevity Risk Implications for pension funds and annuity providers Book in PDF, ePub and Kindle
The publication assess how pension funds, annuity providers such as life insurance companies, and the regulatory framework incorporate future improvements in mortality and life expectancy.
Author | : Stephen J. Richards |
Publisher | : |
Total Pages | : |
Release | : 2012 |
Genre | : |
ISBN | : |
Download The Analysis and Projection of Mortality Rates for Annuity and Pensions Business Book in PDF, ePub and Kindle
Longevity risk is a major issue for the developed world. As both mortality rates and birth rates fall, the increasing burden of providing for retirees falls on a smaller working population. Under such circumstances, the accurate modelling and measurement of longevity risk becomes particularly important. Longevity risk is present in the annuity portfolios of insurance companies, and increasingly of reinsurers as well. However, the biggest concentration of longevity risk in the private sector in the United Kingdom is most often in the shape of de nedbene t pension promises by employers. This makes longevity risk of crucial interest to managers and investors, even if they think that their business has nothing to do with insurance. Actuaries handle longevity risk by breaking it into two components: the current (or period) rates of mortality, and the projection of future rates. In both areas actuaries have made signi cant advances in their modelling and understanding of longevity risk. This critical review outlines how methods have developed, and how the papers in the accompanying thesis have contributed to these advances.
Author | : David Blake |
Publisher | : John Wiley & Sons |
Total Pages | : 270 |
Release | : 2006-11-02 |
Genre | : Business & Economics |
ISBN | : 9780470058718 |
Download Pension Economics Book in PDF, ePub and Kindle
While not attempting to train readers as professional economists, this book aims to provide a secure grounding in the theory and practice of economics insofar as it deals with pension matters. From reading this book, the user will understand: * The key types of pension scheme * The role of pensions in maximizing individual lifetime welfare * The role of pensions in individual savings and retirement decisions * The role and consequences of the pension plan from the company's viewpoint * The role of pensions in promoting aggregate savings * The role of pensions and retirement in overlapping generations models * The economics of ageing and intergenerational accounting * The social welfare implications of pensions * The lessons of behavioural economics for pensions
Author | : Anna Esposito |
Publisher | : Springer |
Total Pages | : 318 |
Release | : 2018-07-21 |
Genre | : Technology & Engineering |
ISBN | : 3319950983 |
Download Neural Advances in Processing Nonlinear Dynamic Signals Book in PDF, ePub and Kindle
This book proposes neural networks algorithms and advanced machine learning techniques for processing nonlinear dynamic signals such as audio, speech, financial signals, feedback loops, waveform generation, filtering, equalization, signals from arrays of sensors, and perturbations in the automatic control of industrial production processes. It also discusses the drastic changes in financial, economic, and work processes that are currently being experienced by the computational and engineering sciences community. Addresses key aspects, such as the integration of neural algorithms and procedures for the recognition, the analysis and detection of dynamic complex structures and the implementation of systems for discovering patterns in data, the book highlights the commonalities between computational intelligence (CI) and information and communications technologies (ICT) to promote transversal skills and sophisticated processing techniques. This book is a valuable resource for a. The academic research community b. The ICT market c. PhD students and early stage researchers d. Companies, research institutes e. Representatives from industry and standardization bodies
Author | : Annamaria Olivieri |
Publisher | : Springer |
Total Pages | : 521 |
Release | : 2015-09-30 |
Genre | : Mathematics |
ISBN | : 3319213776 |
Download Introduction to Insurance Mathematics Book in PDF, ePub and Kindle
This second edition expands the first chapters, which focus on the approach to risk management issues discussed in the first edition, to offer readers a better understanding of the risk management process and the relevant quantitative phases. In the following chapters the book examines life insurance, non-life insurance and pension plans, presenting the technical and financial aspects of risk transfers and insurance without the use of complex mathematical tools. The book is written in a comprehensible style making it easily accessible to advanced undergraduate and graduate students in Economics, Business and Finance, as well as undergraduate students in Mathematics who intend starting on an actuarial qualification path. With the systematic inclusion of practical topics, professionals will find this text useful when working in insurance and pension related areas, where investments, risk analysis and financial reporting play a major role.
Author | : group of authors |
Publisher | : Czech Institute of Academic Education z.s. |
Total Pages | : 143 |
Release | : 2016-07-01 |
Genre | : Business & Economics |
ISBN | : 8090623107 |
Download Proceedings of IAC-MEM 2016 in Bratislava Book in PDF, ePub and Kindle
International Academic Conference on Management, Economics and Marketing in Bratislava, Slovakia 2016 (IAC-MEM 2016), Wednesday - Thursday, July 6 - 7, 2016
Author | : Luca Regis |
Publisher | : MDPI |
Total Pages | : 165 |
Release | : 2018-02-22 |
Genre | : |
ISBN | : 3038427306 |
Download Actuarial and Financial Risks in Life Insurance, Pensions Pensions and Household Finance Book in PDF, ePub and Kindle
This book is a printed edition of the Special Issue "Actuarial and Financial Risks in Life Insurance, Pensions and Household Finance" that was published in Risks
Author | : Ermanno Pitacco |
Publisher | : Springer Nature |
Total Pages | : 236 |
Release | : 2020-08-25 |
Genre | : Business & Economics |
ISBN | : 3030498522 |
Download ERM and QRM in Life Insurance Book in PDF, ePub and Kindle
This book deals with Enterprise Risk Management (ERM) and, in particular, Quantitative Risk Management (QRM) in life insurance business. Constituting a “bridge” between traditional actuarial mathematics and insurance risk management processes, its purpose is to provide advanced undergraduate and graduate students in the Actuarial Sciences, Finance and Economics with the basics of ERM (in general) and QRM applied to life insurance business. The main topics dealt with are: general issues on ERM, risk management tools for life insurance and life annuities, deterministic and stochastic analysis of the behaviour of a portfolio fund, application of sensitivity testing to assess ranges of results of interest, stress testing to assess the impact of extreme scenarios, and the product development process for life annuity products.