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What would you like to do with your life? What career would allow you to fulfill your dreams of success? If you like mathematics—and the prospect of a highly mobile, international profession—consider becoming an actuary. Szabo's Actuaries' Survival Guide, Second Edition explains what actuaries are, what they do, and where they do it. It describes exciting combinations of ideas, techniques, and skills involved in the day-to-day work of actuaries. This second edition has been updated to reflect the rise of social networking and the internet, the progress toward a global knowledge-based economy, and the global expansion of the actuarial field that has occurred since the first edition. - Inc...
Intangible, invisible and worth trillions, risk is everywhere. Its quantification and management are key to the success and failure of individuals, businesses and governments. Whether you’re an interested observer or pursuing a career in risk, this book delves into the complex and multi-faceted work that actuaries undertake to quantify, manage and commodify risk—supporting our society and servicing a range of multi-billion-dollar industries. Starting at the most basic level, this book introduces key concepts in actuarial science, insurance and pensions. Through case studies, explanations and mathematical examples, it fosters an understanding of current industry practice. This book celebr...
The 2008 financial crisis was a reminder to people both inside and outside the Actuarial Profession of just how complex the Financial Services industry has become, and just how tied the World economy presently is to its fortunes. This wide-ranging, non-technical book examines our present economic model, the industry's present function and the appropriateness of the Actuarial Profession's present strategy and direction in the aftermath of that crisis, and in the context of the challenges that lie ahead. The book's central premise is that, far from being a one-off, the 2008 crash is merely a portent of things to come, and that the Profession, the industry it serves, and even the political and economic models under which both presently operate are in need of fundamental reform if they are to equip our society to withstand the challenges that are going to be visited upon it. This book seeks to explore the reasons why, and to open the debate about what shape that reform ought to take. As such it should be of interest not just to actuaries, but to anyone who has an interest in our collective future.
List of members issued with v. 35- with separate paging.
In the first book of its kind, Turnbull traces the development and implementation of actuarial ideas, from the conception of Equitable Life in the mid-18th century to the start of the 21st century. This book analyses the historical development of British actuarial thought in each of its three main practice areas of life assurance, pensions and general insurance. It discusses how new actuarial approaches were developed within each practice area, and how these emerging ideas interacted with each other and were often driven by common external factors such as shocks in the economic environment, new intellectual ideas from academia and developments in technology. A broad range of historically imp...
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This classic textbook covers all aspects of risk theory in a practical way. It builds on from the late R.E. Beard's extremely popular book Risk Theory, but features more emphasis on simulation and modeling and on the use of risk theory as a practical tool. Practical Risk Theory is a textbook for practicing and student actuaries on the practical aspects of stochastic modeling of the insurance business. It has its roots in the classical theory of risk but introduces many new elements that are important in managing the insurance business but are usually ignored in the classical theory. The authors avoid overcomplicated mathematics and provide an abundance of diagrams.