Market-Valuation Methods in Life and Pension Insurance

Citation

(2010), "Market-Valuation Methods in Life and Pension Insurance", Kybernetes, Vol. 39 No. 5. https://doi.org/10.1108/k.2010.06739eae.002

Market-Valuation Methods in Life and Pension Insurance

Article Type: Book reports From: Kybernetes, Volume 39, Issue 5

Thomas Møller and Mogens SteffensenCambridge University PressCambridge2007294 pp.ISBN 0-521-86877-7$52.00 (Hardback)

Keywords: Cybernetics, Financial analysis, Mathematics, Life insurance, Pensions

This is a book for cyberneticians and management scientists with a good knowledge of mathematics and an understanding of actuarial science. Financial mathematics is a subject in its own right and a good background in it, with a particular understanding of life insurance mathematics and of probability theory, is demanded for this text to be worth considering. Even so, the seven chapters do give a basic introduction to life-insurance practice even if in a rather brief fashion. Apart from the explanatory chapters that follow an excellent set of appendices on some of the concepts of probability and risk minimization are included. This in effect is a specialist book which is included in this review for readers who work in this area.