21201735 Insurance and Pensione Funds in Finance and Business LM-16 N0 CARLEO ALESSANDRA
(syllabus)
STOCHASTIC CASH-FLOWS AND INSURANCE CONTRACTS Expected Value Criterion Utility Function Expected Utility Criterion
BASIC DISTRIBUTION MODELS IN LIFE INSURANCE Random Future Lifetime of a Life aged x Life tables
LIFE INSURANCE: PRICING Elementary life insurance products Survival benefits Death benefits Endowment insurance products Single premium and periodic premiums. Natural premiums
LIFE INSURANCE: RESERVING Net Premium Reserve. Prospective Reserve Retrospective Reserve The time profile of the policy reserve Recursive equations. Risk and savings Homans’ Formula. Expected Profit
EXPENSE LOADINGS The Expense-Loaded Premium Expense-Loaded Premium Reserves Counterinsurance
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PENSION PLANS Social security framework Contributions and benefits Funding system Benefits calculation Demographic risks System sustainability Contributions calculations Supplementary pension schemes Old-Age, Survivors and Disability Insurance (OASI/IV) scheme Exact Individual Trajectories (E.I.T.)
(reference books)
Annamaria Olivieri, Ermanno Pitacco Introduction to Insurance Mathematics Springer, 2011
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