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Life Insurance Mathematics
Apl. Prof. Dr. Frederik Herzberg
This course provides an introduction to life insurance mathematics broadly conceived, covering insurances against all life-contingent risks, with a particular emphasis on the regulatory framework in Germany. Topics include:
- Multiple-decrement models and actuarial calculation bases
- Expected present values of payment streams (for premiums and benefits)
- Equivalence principle and actuarial reserves
- Applications: Annuities, pensions, private health insurance (according to German law)
Depending on the participants' level of proficiency in German, the lecture course may be taught in German.
Monday, 12-2pm, building E2 4, Seminar room 6
There will be a weekly one-hour tutorial. Time and venue to be announced.
There is no single textbook that would cover all of the material in this lecture course. Nevertheless, parts of the following textbooks can be useful for different pars of the lecture course:
- Dickson, Hardy & Waters: Acturial mathematics for life-contingent risks. Cambridge University Press
- Gerber: Life insurance mathematics. Springer
- Milbrodt & Helbig: Mathematische Methoden der Personenversicherung. Walter de Gruyter
A detailed summary of the contents of the lecture course is contained in Chapters 3-6 of the following document (in German) by the German Association of Actuaries (DAV):