Pricing Insurance Risk - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Pricing Insurance Risk write by Stephen J. Mildenhall. This book was released on 2022-06-15. Pricing Insurance Risk available in PDF, EPUB and Kindle. PRICING INSURANCE RISK A comprehensive framework for measuring, valuing, and managing risk Pricing Insurance Risk: Theory and Practice delivers an accessible and authoritative account of how to determine the premium for a portfolio of non-hedgeable insurance risks and how to allocate it fairly to each portfolio component. The authors synthesize hundreds of academic research papers, bringing to light little-appreciated answers to fundamental questions about the relationships between insurance risk, capital, and premium. They lean on their industry experience throughout to connect the theory to real-world practice, such as assessing the performance of business units, evaluating risk transfer options, and optimizing portfolio mix. Readers will discover: Definitions, classifications, and specifications of risk An in-depth treatment of classical risk measures and premium calculation principles Properties of risk measures and their visualization A logical framework for spectral and coherent risk measures How risk measures for capital and pricing are distinct but interact Why the cost of capital, not capital itself, should be allocated The natural allocation method and how it unifies marginal and risk-adjusted probability approaches Applications to reserve risk, reinsurance, asset risk, franchise value, and portfolio optimization Perfect for actuaries working in the non-life or general insurance and reinsurance sectors, Pricing Insurance Risk: Theory and Practice is also an indispensable resource for banking and finance professionals, as well as risk management professionals seeking insight into measuring the value of their efforts to mitigate, transfer, or bear nonsystematic risk.
Pricing Insurance Risk
Pricing Insurance Risk - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Pricing Insurance Risk write by Stephen J. Mildenhall. This book was released on 2022. Pricing Insurance Risk available in PDF, EPUB and Kindle. "In order to make insurance a trade at all, the common premium must be sufficient to compensate the common losses, to pay the expense of management, and to afford such a profit as might have been drawn from an equal capital employed in any common trade. Pricing insurance risk is the last mile of underwriting. It determines which risks are accepted onto the balance sheet and makes an insurer's risk appetite operational. It is critical to successful insurance company management. As the last mile, pricing depends on all that has come before. Actuaries and underwriters have analyzed and classified the risk, trended and developed losses, and on-leveled premiums to pick a best-estimate prospective loss cost. Accountants have allocated fixed and variable expenses. Simulation models place the new risk within the context of the company's existing portfolio. The mechanics of all this work is the subject of much of the actuarial education syllabus: experience and exposure rating, predictive analytics, and advanced statistical methods. That is not the subject of this book! All of that prior effort determines the expected loss, and we take it as a given. Pricing adds the risk margin-to afford capital a reasonable return. The risk margin is our subject"--
Pricing in General Insurance
Pricing in General Insurance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Pricing in General Insurance write by Pietro Parodi. This book was released on 2014-10-15. Pricing in General Insurance available in PDF, EPUB and Kindle. Based on the syllabus of the actuarial industry course on general insurance pricing — with additional material inspired by the author’s own experience as a practitioner and lecturer — Pricing in General Insurance presents pricing as a formalised process that starts with collecting information about a particular policyholder or risk and ends with a commercially informed rate. The main strength of this approach is that it imposes a reasonably linear narrative on the material and allows the reader to see pricing as a story and go back to the big picture at any time, putting things into context. Written with both the student and the practicing actuary in mind, this pragmatic textbook and professional reference: Complements the standard pricing methods with a description of techniques devised for pricing specific products (e.g., non-proportional reinsurance and property insurance) Discusses methods applied in personal lines when there is a large amount of data and policyholders can be charged depending on many rating factors Addresses related topics such as how to measure uncertainty, incorporate external information, model dependency, and optimize the insurance structure Provides case studies, worked-out examples, exercises inspired by past exam questions, and step-by-step methods for dealing concretely with specific situations Pricing in General Insurance delivers a practical introduction to all aspects of general insurance pricing, covering data preparation, frequency analysis, severity analysis, Monte Carlo simulation for the calculation of aggregate losses, burning cost analysis, and more.
Investing in Insurance Risk
Investing in Insurance Risk - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Investing in Insurance Risk write by Alex Krutov. This book was released on 2010. Investing in Insurance Risk available in PDF, EPUB and Kindle. Information on the types of these securities and the issues involved in their structuring, pricing, trading, and managing on a portfolio basis.
Insurance Risk Management and Reinsurance
Insurance Risk Management and Reinsurance - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Insurance Risk Management and Reinsurance write by Guillaume Gorge. This book was released on 2016. Insurance Risk Management and Reinsurance available in PDF, EPUB and Kindle. "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."--
