Actuarial ΙΙ (7 ECTS)

Course Code: 
Elective Courses

Simple mortality matrix and relative functions. Force of mortality, classic mortality laws, actuarial tables and commutation functions, stochastic approach to life insurance. Types of personal insurance, actuarial present values, present values variances and covariances. Types of annuities, actuarial present values and annuities variances, relations between annuities and insurance policies. Insurance (annual, united, payable in installments), approximate relationships between different types of insurance. Recursive and differential relationships for insurances and annuities. Mathematical stocks of all types, differential equations and approximate relations, Lidstone and Hattendorf theorems, alternative storage methods (stochastic and non stochastic), inventory adequacy controls. Joint life and death probability, “multiple head” insurance and annuities, common insurance for Gompertz and Makeham cases, as well as under the assumption for uniform distribution of deaths (UDD). Matrices with multiple output causes, multiple situations standards, disability standards and Markov methods. Retirement models.

Recommended Reading

  • Ζυμπίδης Α.(2009), Αναλογιστικά Μαθηματικά Ασφαλίσεων Ζωής
  • Ζυμπίδης Α. (2008) Συνταξιοδοτικά Ταμεία & Αναλογιστικές Μελέτες
  • Neil A. (1986), «Life Contingencies» Heinemann Professional Publishing
  • Εtienne De Vylder (1997), “Life insurance : Actuarial Perspectives”, Kluwer Academic Print
  • David C. M. Dickson, Mary Hardy, Mary R. Hardy, Howard R. Water. (2013) Actuarial Mathematics for Life Contingent Risks. Cambridge University Press, 2013
  • Arthur W. Anderson (2006) Pension Mathematics for Actuaries, ACTEX Publications

(old title: "Actuarial Mathematics of life insurance")