Introduction to Insurance Mathematics

1. Front Matter

   Pages i-xviii

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2. Risks and Insurance

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 1-74

3. Managing a Portfolio of Risks

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 75-155

4. Life Insurance: Modeling the Lifetime

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 157-215

5. Life Insurance: Pricing

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 217-270

6. Life Insurance: Reserving

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 271-321

7. Reserves and Profits in a Life Insurance Portfolio

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 323-351

8. Linking Life Insurance Benefits to the Investment Performance

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 353-416

9. Pension Plans: Technical and Financial Perspectives

   • Annamaria Olivieri, Ermanno Pitacco

   Pages 417-438

10. Non-life Insurance: Pricing and Reserving

    • Annamaria Olivieri, Ermanno Pitacco

    Pages 439-494

11. Back Matter

    Pages 495-508

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This second edition expands the first chapters, which focus on the approach to risk management issues discussed in the first edition, to offer readers a better understanding of the risk management process and the relevant quantitative phases. In the following chapters the book examines life insurance, non-life insurance and pension plans, presenting the technical and financial aspects of risk transfers and insurance without the use of complex mathematical tools. The book is written in a comprehensible style making it easily accessible to advanced undergraduate and graduate students in Economics, Business and Finance, as well as undergraduate students in Mathematics who intend starting on an actuarial qualification path. With the systematic inclusion of practical topics, professionals will find this text useful when working in insurance and pension related areas, where investments, risk analysis and financial reporting play a major role.

• actuarial technique
• life insurance
• non-life insurance
• post-retirement income
• premiums calculation
• reinsurance
• reserves calculation
• risk management process

“This is a good introductory book on the topics. This book is clearly written for students in the arena of insurance industry. This is also a good reference book for professionals. … Each chapter of the book ends with a section providing bibliographic references and suggestions for further reading. … this is a good contribution, providing up-to-date coverage on selected insurance topics in a logical and systematic manner.” (Technometrics, Vol. 58 (2), February, 2016) 

• Dipartimento di Economia, Università di Parma, Parma, Italy

  Annamaria Olivieri

• DEAMS “Bruno de Finetti”, Università di Trieste, Trieste, Italy

  Ermanno Pitacco

Professor Ermanno Pitacco, Full professor at the University of Trieste Professor Annamaria Olivieri, Full professor at the University of Parma.

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