Download or read book Risk Theory and Reinsurance written by Griselda Deelstra and published by Springer Science & Business Media. This book was released on 2013-11-22 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reinsurance is an important production factor of non-life insurance. The efficiency and the capacity of the reinsurance market directly regulate those of insurance markets. The purpose of this book is to provide a concise introduction to risk theory, as well as to its main application procedures to reinsurance. The first part of the book covers risk theory. It presents the most prevalent model of ruin theory, as well as a discussion on insurance premium calculation principles and the mathematical tools that enable portfolios to be ordered according to their risk levels. The second part describes the institutional context of reinsurance. It first strives to clarify the legal nature of reinsurance transactions. It describes the structure of the reinsurance market and then the different legal and technical features of reinsurance contracts, known as reinsurance ‘treaties’ by practitioners. The third part creates a link between the theories presented in the first part and the practice described in the second one. Indeed, it sets out, mostly through examples, some methods for pricing and optimizing reinsurance. The authors aim is to apply the formalism presented in the first part to the institutional framework given in the second part. It is reassuring to find such a relationship between approaches seemingly abstract and solutions adopted by practitioners. Risk Theory and Reinsurance is mainly aimed at master's students in actuarial science but will also be useful for practitioners wishing to revive their knowledge of risk theory or to quickly learn about the main mechanisms of reinsurance.
Download or read book Reinsurance written by Hansjörg Albrecher and published by John Wiley & Sons. This book was released on 2017-11-06 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reinsurance: Actuarial and Statistical Aspects provides a survey of both the academic literature in the field as well as challenges appearing in reinsurance practice and puts the two in perspective. The book is written for researchers with an interest in reinsurance problems, for graduate students with a basic knowledge of probability and statistics as well as for reinsurance practitioners. The focus of the book is on modelling together with the statistical challenges that go along with it. The discussed statistical approaches are illustrated alongside six case studies of insurance loss data sets, ranging from MTPL over fire to storm and flood loss data. Some of the presented material also contains new results that have not yet been published in the research literature. An extensive bibliography provides readers with links for further study.
Download or read book Risk Modelling in General Insurance written by Roger J. Gray and published by Cambridge University Press. This book was released on 2012-06-28 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: A wide range of topics give students a firm foundation in statistical and actuarial concepts and their applications.
Download or read book Ruin Probabilities written by S?ren Asmussen and published by World Scientific. This book was released on 2010 with total page 621 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book gives a comprehensive treatment of the classical and modern ruin probability theory. Some of the topics are Lundberg's inequality, the Cramr?Lundberg approximation, exact solutions, other approximations (e.g., for heavy-tailed claim size distributions), finite horizon ruin probabilities, extensions of the classical compound Poisson model to allow for reserve-dependent premiums, Markov-modulation, periodicity, change of measure techniques, phase-type distributions as a computational vehicle and the connection to other applied probability areas, like queueing theory. In this substantially updated and extended second version, new topics include stochastic control, fluctuation theory for Levy processes, Gerber?Shiu functions and dependence.
Download or read book Catastrophe Risk and Reinsurance written by Eugene N. Gurenko and published by World Bank Publications. This book was released on 2004 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Including the latest invaluable insights into catastrophe reinsurance, this book provides you with a wealth of risk management expertise gained from many of the largest catastrophe risk transfer programmes worldwide.
Download or read book Innovations in Smart Cities and Applications written by Mohamed Ben Ahmed and published by Springer. This book was released on 2018-03-21 with total page 1073 pages. Available in PDF, EPUB and Kindle. Book excerpt: This proceedings book showcases the latest research work presented at the Second Edition of the Mediterranean Symposium on Smart City Application (SCAMS 2017), which was held in Tangier, Morocco on October 15–27, 2017. It presents original research results, new ideas and practical development experiences that concentrate on both theory and practice. It includes papers from all areas of Smart City Applications, e.g. Smart Mobility, Big Data, Smart Grids, Smart Homes and Buildings, clouds, crowds, mashups, social networks, and security issues. The conference stimulated cutting-edge research discussions among pioneering researchers, scientists, industrial engineers, and students from all around the world. The topics covered in this book also focus on innovative issues at the international level by bringing together experts from different countries. The scope of SCAMS 2017 included methods and practices that combine various emerging internetworking and data technologies to capture, integrate, analyze, mine, annotate, and visualize data in a meaningful and collaborative manner. A series of international workshops were organized as invited sessions during the SCAMS 2017:The 2nd International Workshop on Smart Learning & Innovative EducationsThe 1st International Workshop on Smart HealthcareThe 1st International Workshop on Mathematics for Smart CityThe 1st International Workshop Industry 4.0 and Smart Manufacturing
Download or read book Continuous Time Models in Corporate Finance Banking and Insurance written by Santiago Moreno-Bromberg and published by Princeton University Press. This book was released on 2018-01-08 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Continuous-Time Models in Corporate Finance synthesizes four decades of research to show how stochastic calculus can be used in corporate finance. Combining mathematical rigor with economic intuition, Santiago Moreno-Bromberg and Jean-Charles Rochet analyze corporate decisions such as dividend distribution, the issuance of securities, and capital structure and default. They pay particular attention to financial intermediaries, including banks and insurance companies. The authors begin by recalling the ways that option-pricing techniques can be employed for the pricing of corporate debt and equity. They then present the dynamic model of the trade-off between taxes and bankruptcy costs and derive implications for optimal capital structure. The core chapter introduces the workhorse liquidity-management model—where liquidity and risk management decisions are made in order to minimize the costs of external finance. This model is used to study corporate finance decisions and specific features of banks and insurance companies. The book concludes by presenting the dynamic agency model, where financial frictions stem from the lack of interest alignment between a firm's manager and its financiers. The appendix contains an overview of the main mathematical tools used throughout the book. Requiring some familiarity with stochastic calculus methods, Continuous-Time Models in Corporate Finance will be useful for students, researchers, and professionals who want to develop dynamic models of firms' financial decisions.
Download or read book The Financing of Catastrophe Risk written by Kenneth A. Froot and published by University of Chicago Press. This book was released on 2007-12-01 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is it possible that the insurance and reinsurance industries cannot handle a major catastrophe? Ten years ago, the notion that the overall cost of a single catastrophic event might exceed $10 billion was unthinkable. With ever increasing property-casualty risks and unabated growth in hazard-prone areas, insurers and reinsurers now envision the possibility of disaster losses of $50 to $100 billion in the United States. Against this backdrop, the capitalization of the insurance and reinsurance industries has become a crucial concern. While it remains unlikely that a single event might entirely bankrupt these industries, a big catastrophe could place firms under severe stress, jeopardizing both policy holders and investors and causing profound ripple effects throughout the U.S. economy. The Financing of Catastrophe Risk assembles an impressive roster of experts from academia and industry to explore the disturbing yet realistic assumption that a large catastrophic event is inevitable. The essays offer tangible means of both reassessing and raising the level of preparedness throughout the insurance and reinsurance industries.
Download or read book Advances in Quantitative Economic Research written by Nicholas Tsounis and published by Springer Nature. This book was released on 2022-08-30 with total page 570 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents advanced quantitative methods and applications in economics with special interest in macroeconomics, microeconomics, financial economics, international economics, agricultural economics, and marketing and management. Featuring selected contributions from the 2021 International Conference of Applied Economics (ICOAE 2021) held in Heraklion Crete, Greece, this book provides country specific studies with potential applications in economic policy.
Download or read book Insurance Risk Management and Reinsurance written by Guillaume Gorge and published by Lulu.com. This book was released on 2016 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Risk being its raw material, insurance has developed various techniques of valuation and risk transfer. Nowadays, these techniques - and first of all reinsurance, the favourite way of transferring risk- are entirely reassessed considering the development of Corporate Finance theory. Therefore, the approach retained here, originally for the actuarial course at Ensae, Paris may surprise some readers and students as it proposes a extended view of risk. We cover not only the mathematical aspects of Risk Management but also other fields relevant for Risk Management from economy or finance. We aim here at making bridges between all these fields through practical application to cat and life risk-management."--
Download or read book Dynamics and Bifurcations written by Jack K. Hale and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 577 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, due primarily to the proliferation of computers, dynamical systems has again returned to its roots in applications. It is the aim of this book to provide undergraduate and beginning graduate students in mathematics or science and engineering with a modest foundation of knowledge. Equations in dimensions one and two constitute the majority of the text, and in particular it is demonstrated that the basic notion of stability and bifurcations of vector fields are easily explained for scalar autonomous equations. Further, the authors investigate the dynamics of planar autonomous equations where new dynamical behavior, such as periodic and homoclinic orbits appears.
Download or read book Intermediation in Reinsurance Markets written by Laila Neuthor and published by VVW GmbH. This book was released on 2013-03-01 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reinsurance cover can either be purchased directly or via an intermediating reinsurance broker. The importance of reinsurance brokers has increased steadily since the early nineties. The thesis thus aims to analyze the impact of the reinsurance broker on reinsurance market efficiency and to identify the reasons why primary insurers to an increasing extent contract via an intermediating reinsurance broker. As the reinsurance broker's intermediation services are costly for the primary, intermediation needs to increase the primary insurer's payoff or utility compared to the direct purchase of reinsurance cover. Otherwise, no primary would be willing to hire a broker firm for assistance in the reinsurance acquisition process. Chapter II clarifies the framework for reinsurance broker activity. Chapter III first gives an overview of the reinsurance broker market (III.2) with a special focus on the market concentration and the geographical importance of reinsurance brokers. In addition, the reinsurance broker's tasks before, during, and after the reinsurance contract conclusion (III.3) are introduced and the types of reinsurance broker remuneration frequently used (III.4) are outlined. Finally, the most prominent reinsurance broker regulatory frameworks (III.5) are introduced along with rationales for reinsurance broker regulation. Chapter IV is composed of five sections discussing the different aspects of the market function of the reinsurance broker. Chapter V gives a short summary of the main findings and concludes the thesis. By combining economic theory and market observations, this thesis addresses both scholars and reinsurance market specialists. Rückversicherung kann entweder direkt oder über einen vermittelnden Rückversicherungsmakler erworben werden. Die Bedeutung der Rückversicherungsmakler hat seit Anfang der 1990er Jahre international zugenommen. Vor dem Hintergrund dieser Entwicklung untersucht die Autorin die Effizienz des Rückversicherungsmarktes und die Gründe, warum Erstversicherer in zunehmendem Maße Rückversicherung über einen vermittelnden Rückversicherungsmakler abschließen. Kapitel II klärt die Rahmenbedingungen für das Tätigwerden der Rückversicherungsmakler. Kapitel III gibt zunächst einen Überblick über den Rückversicherungsmakler-Markt (III.2) mit einem besonderen Fokus auf die Marktkonzentration und die geographische Verteilung der Rückversicherungsmakler. Darüber hinaus werden die Aufgaben der Rückversicherungsmakler vor, während und nach dem Vertragsabschluss (III.3) vorgestellt und die häufigsten Arten der Vergütung (III.4) behandelt. Schließlich werden die wichtigsten Regelwerke für Rückversicherungsmakler (III.5) erläutert. Kapitel IV befasst sich detailliert mit verschiedenen Aspekten des Rückversicherungsmarktes und der Funktion der Broker. Kapitel V fasst die Ergebnisse kurz zusammen. Die Autorin verbindet ökonomische Theorie mit Marktbeobachtungen und leistet einen wichtigen Beitrag zu einem wenig erforschten Themengebiet. Die Arbeit richtet sich sowohl an Wissenschaftler als auch an die im Rückversicherungsmarkt tätigen Spezialisten.
Download or read book The ABC Of Reinsurance written by Stefan Pohl and published by VVW GmbH. This book was released on 2018-03-20 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt: Titel in englischer Sprache Eine wichtige Neuerscheinung für alle, die mit Rückversicherungen zu tun haben. Vor allem Einsteiger finden hier übersichtlich und verständlich alle relevanten Informationen auf einen Blick! Das „ABC der Rückversicherung“ ist in zwei Teile untergliedert. Im ersten befassen sich die Autoren intensiv mit der traditionellen Rückversicherung. Dazu zählen Themen wie die Vertragsrückversicherung und die fakultative Rückversicherung - und zwar sowohl in der proportionalen als auch in der nichtproportionalen Form. Der erste Teil behandelt zusätzlich zentrale Methoden der Bepreisung und der Rechnungslegung von Rückversicherungsverträgen. Zahlreiche Illustrationen, Beispiele und Übungsaufgaben mit nachvollziehbaren Musterlösungen sorgen dafür für bestmögliche Verständlichkeit. Ganz bewusst verzichteten die Autoren darauf, mathematische Herleitungen zu erklären. Aus gutem Grund: Im Vordergrund steht klar und deutlich die schnelle Anwendbarkeit, daher werden konkret die Vor- und Nachteile der einzelnen Techniken und Konzepte herausgearbeitet. Der zweite Teil widmet sich dann den fortgeschrittenen Aspekten in der Rückversicherung. Dazu gehören Methoden des alternativen Risikotransfers, aber auch die verschiedenen Anwendungsgebiete der passiven Rückversicherung kommen nicht zu kurz. In erster Linie ist der zweite Teil dazu gedacht, einen kompakten Überblick über weitere Themengebiete zu geben, die rund um die traditionelle Rückversicherung flankierend auftauchen. Bereits Anfänger, die mit dem Thema noch nicht sehr vertraut sind, können so die wichtigsten Konzepte der Rückversicherung und die in der Praxis verwandten Fachtermini einsortieren und grob bewerten! Zahlreiche Referenzen geben dabei nicht nur Sicherheit, sie dienen auch einem vertieften Einstieg. Im Einzelnen werden hier die folgenden Themengebiete angesprochen: Fronting und Captives zur Steuerung des Selbstbehaltes der zedierenden Gesellschaft Run-Off-Management zur Abwicklung von Versicherungsbeständen Regulatorische Themen wie die Äquivalenz von einzelnen Aufsichtsregimen und die Erfassung von global systemrelevanten Versicherern sowie Skizzierung von Methoden zur Optimierung von Rückversicherungsstrukturen und Selbstbehalten Ein Glossar, der die im Buch gebrauchten Fachtermini kurz erläutert, rundet das für die Branche wichtige Buch ab. Ideal für Anfänger bei Versicherungsunternehmen, die sich mit der aktiven oder passiven Rückversicherung beschäftigen, und die sich einen kompakten, schnellen und anwendungsorientierten Überblick verschaffen wollen! Those who are dealing with assumed or ceded reinsurance can find here all information at a glance. In the first part the authors deal with traditional assumed reinsurance, i.e., treaty and facultative reinsurance, both proportional and non-proportional in nature. Illustrations, practical examples and exercises enhance the reader’s experience. The second part is dedicated to advanced reinsurance, e.g., to methods of alternative risk transfer and work fields in ceded reinsurance. Ideal for the beginner to obtain an application-oriented overview of the relevant concepts and techniques in reinsurance!
Download or read book Handbook of Insurance written by Georges Dionne and published by Springer Science & Business Media. This book was released on 2013-12-02 with total page 1133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new edition of the Handbook of Insurance reviews the last forty years of research developments in insurance and its related fields. A single reference source for professors, researchers, graduate students, regulators, consultants and practitioners, the book starts with the history and foundations of risk and insurance theory, followed by a review of prevention and precaution, asymmetric information, risk management, insurance pricing, new financial innovations, reinsurance, corporate governance, capital allocation, securitization, systemic risk, insurance regulation, the industrial organization of insurance markets and other insurance market applications. It ends with health insurance, longevity risk, long-term care insurance, life insurance financial products and social insurance. This second version of the Handbook contains 15 new chapters. Each of the 37 chapters has been written by leading authorities in risk and insurance research, all contributions have been peer reviewed, and each chapter can be read independently of the others.
Download or read book Stochastic Control in Insurance written by Hanspeter Schmidli and published by Springer Science & Business Media. This book was released on 2007-11-20 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Yet again, here is a Springer volume that offers readers something completely new. Until now, solved examples of the application of stochastic control to actuarial problems could only be found in journals. Not any more: this is the first book to systematically present these methods in one volume. The author starts with a short introduction to stochastic control techniques, then applies the principles to several problems. These examples show how verification theorems and existence theorems may be proved, and that the non-diffusion case is simpler than the diffusion case. Schmidli’s brilliant text also includes a number of appendices, a vital resource for those in both academic and professional settings.
Download or read book Applied Mathematics Modeling and Computer Simulation written by C.-H. Chen and published by IOS Press. This book was released on 2022-12-20 with total page 1170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applied mathematics, together with modeling and computer simulation, is central to engineering and computer science and remains intrinsically important in all aspects of modern technology. This book presents the proceedings of AMMCS 2022, the 2nd International Conference on Applied Mathematics, Modeling and Computer Simulation, held in Wuhan, China, on 13 and 14 August 2022, with online presentations available for those not able to attend in person due to continuing pandemic restrictions. The conference served as an open forum for the sharing and spreading of the newest ideas and latest research findings among all those involved in any aspect of applied mathematics, modeling and computer simulation, and offered an ideal platform for bringing together researchers, practitioners, scholars, professors and engineers from all around the world to exchange the newest research results and stimulate scientific innovation. More than 150 participants were able to exchange knowledge and discuss the latest developments at the conference. The book contains 127 peer-reviewed papers, selected from more than 200 submissions and ranging from the theoretical and conceptual to the strongly pragmatic; all addressing industrial best practice. Topics covered included mathematical modeling and application, engineering applications and scientific computations, and simulation of intelligent systems. The book shares practical experiences and enlightening ideas and will be of interest to researchers and practitioners in applied mathematics, modeling and computer simulation everywhere.
Download or read book Strategic Planning and Modeling in Property Liability Insurance written by J. David Cummins and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Geneva Association and Risk Economics The Geneva Association The Geneva Association (International Association for the Study of Insurance Economics) commenced its activities in June 1973, on the initiative of twenty-two members in eight European countries. It now has fifty-four members in sixteen countries in Europe and in the United States. The members of the association are insurance companies which provide financial support for its activities. The aims and strategy of the Geneva Association were clearly defined in 1971 by the founding committee. They were set forth in the first report to the Assembly of Members in 1974: "To make an original contribution to the progress of insurance by objective studies on the interdependence between economics and insurance." In pursuit of this objective, the Association strives to place insurance problems in the context of the modern economy and to overcome the antagonism between different groups and institutions by showing that they all have a common interest in tackling the problem of risk in a changing world. In consequence, the studies made by the Association had to move away from the subjects familiar to insurance professionals and explore related fields, dealing with opinions and behavior falling outside the profession's vii FOREWORD viii traditional framework of analysis. It is in this direction that the Association's preoccupations have been directed from the beginning, towards areas in which insurance activities come into contact with those of other economic sectors such as government, banking, manufacturing, and households.
