News
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07.06.2023
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Lecture and tutorial for 12th June postponedDue to continued ill health, the lecture and tutorial next Monday, 12th June, cannot be delivered. I apologise for the inconvenience. Starting from the following week, we will extend the usual lecture and tutorial times somewhat to make up for the lost time. I... Read more Due to continued ill health, the lecture and tutorial next Monday, 12th June, cannot be delivered. I apologise for the inconvenience. Starting from the following week, we will extend the usual lecture and tutorial times somewhat to make up for the lost time. I suggest we discuss the particulars in class on Monday, 19th June, from 12:00 noon. |
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01.06.2023
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No lecture, no tutorial on 5th JuneUnfortunately, the lecture and tutorial next Monday, 5th June, must be cancelled due to ill health. Apologies for the short notice and the inconvenience. |
Life Insurance Mathematics
Apl. Prof. Dr. Frederik Herzberg
Synopsis
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: whole life insurance, annuities, pensions, private health insurance (according to German law) ...
Depending on the participants' level of proficiency in German, the lecture course may be taught partly in German.
Lecture
Monday, 12-2pm, building E2 4, Seminar room 6
Prerequisites
Basic knowledge of modern probability theory (at the level of the mathematics course Stochastik I).
Tutorial
Monday, 4-5pm, building E2 4, Seminar room 6 (from 24th April)
References
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):