Actuarial Studies
نویسندگان
چکیده
The traditional formula used for analysis of surplus in the presence of a conservative valuation basis is compared to a similar formula used for analysis of profit under the margin on services valuation method using a realistic basis. Deficiencies of the former formula relative to the latter are noted. A revised formula is presented which overcomes these deficiencies while still allowing the use of a conservative valuation bases. The Traditional Analysis of Surplus In this section we will derive formulae to carry out an analysis of surplus as it would have been performed prior to the invention of the Margin on Services technique. The general approach used to derive these formulae is likely to be familiar to anyone who has studied analysis of surplus in life insurance. The approach used here is similar to that use in Carr (1996) and is no doubt also similar to many other actuarial books which discuss analysis of surplus. We will assume that we are dealing with a statutory fund containing a single cohort of identical traditional policies. A premium is payable at the start of the year under consideration and the policies do not mature during this year. Expenses and surrenders will be ignored. Thus the only assumptions required are those for interest and mortality and the policy value is effectively a net premium policy value. On this simple basis both the premium and the policy value for a policy are proportional to its sum insured. This scenario is quite a simple one and has been chosen to allow us to concentrate on some important basic principles without being distracted by complexities. Time will be measured in years from the start of the year we are analysing.
منابع مشابه
SOME COMPUTATIONAL RESULTS FOR THE FUZZY RANDOM VALUE OF LIFE ACTUARIAL LIABILITIES
The concept of fuzzy random variable has been applied in several papers to model the present value of life insurance liabilities. It allows the fuzzy uncertainty of the interest rate and the probabilistic behaviour of mortality to be used throughout the valuation process without any loss of information. Using this framework, and considering a triangular interest rate, this paper develops closed...
متن کاملActuarial Statistics - An Australasian Perspective
The theme of this paper originally encompassed an Australasian perspective of actuarial statistics and its place in the university curriculum. Its scope has, however, since been tacitly broadened. It was felt that one could only consider actuarial statistics in the context of actuarial studies generally, having regard to the major changes currently taking place in the financial world, and the c...
متن کاملThe Major Actuarial Challenges: a partly idiosyncratic view
the papers are under the review and supervision of an editorial board. Views expressed in this paper are those of the author(s) and not necessarily those of the Department of Actuarial Studies.
متن کاملSystematic review of actual 10-year survival following resection for hepatocellular carcinoma.
BACKGROUND Hepatic resection is a potentially curative therapy for hepatocellular carcinoma (HCC), but recurrence of disease is very common. Few studies have reported 10-year actual survival rates following hepatic resection; instead, most have used actuarial measures based on the Kaplan-Meier method. This systematic review aims to document 10-year actual survival rates and to identify factors ...
متن کاملCyber Risk Exposure and Prospects for Cyber Insurance
This study draws attention to the ubiquitous and borderless nature of cybercrime. It examines the prospect of introducing customized cyber insurance policy in the Nigerian market. As secondary data was not available, the study conducted a survey by administering three sets of questionnaire to purposively selected top executives in four Trade Groups that rely heavily on Internet transactions for...
متن کامل