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Actuarial Mathematics for Life Contingent Risks
3rd edition
By: David C. M. Dickson, Mary R. Hardy, Howard R. Waters
Hardcover | 19 December 2019 | Edition Number 3
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The authors provide intuitive explanations alongside mathematical theory, equipping readers to understand the material in sufficient depth to apply it in real-world situations and to adapt their results in a changing insurance environment. Topics include modern actuarial paradigms, such as multiple state models, cash-flow projection methods and option theory, all of which are required for managing the increasingly complex range of contemporary long-term insurance products.
Numerous exam-style questions allow readers to prepare for traditional professional actuarial exams, and extensive use of Excel ensures that readers are ready for modern, Excel-based exams and for the actuarial work environment. The Solutions Manual (ISBN 9781108747615), available for separate purchase, will provide detailed solutions to the text's exercises.
Industry Reviews
Review of the second edition: 'This book is an excellent textbook for undergraduate, master's level graduate students, and practitioners. It is easy to read, clearly written, and mathematically rigorous. The authors clearly emphasize important concepts and equations, helping readers to the see the forest from the trees. For example they box important formulas and present in bold type assumptions, formulas, statements, examples, and solutions. Many graphs, figures and tables compete a useful summary for the reader's convenience.' Kissop Lee, The American Statistician
Review of the second edition: 'The book is well written and the content is generally quite accessible ... The content focuses on examples of practical actuarial work through use of spreadsheets ... Overall, the book provides a good framework in life insurance contingencies so as to cover mortality, longevity interest rate modeling, pricing and guarantees. The strength of the book lies in the fact that this is the 2nd edition and reflects modern actuarial methods that have become popular since the last edition was published.' Gautam Kakar, Annals of Actuarial Science
Review of the first edition: 'The book is well written, well organized, and easy to read. It may be an excellent textbook for both undergraduate and graduate programs in actuarial science. It is also a rich source of useful information for practitioners of the actuarial profession and financial risk managers who seek a practical and inspiring guide to liability cash flow modeling and valuation.' Scandinavian Actuarial Journal
ISBN: 9781108478083
ISBN-10: 1108478085
Series: International Series on Actuarial Science
Published: 19th December 2019
Format: Hardcover
Language: English
Number of Pages: 784
Audience: Professional and Scholarly
Publisher: Cambridge University Press
Country of Publication: GB
Edition Number: 3
Edition Type: Revised
Dimensions (cm): 23.5 x 15.5 x 4.5
Weight (kg): 1.28
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