Titlebook: Market-Consistent Actuarial Valuation; Mario V. Wüthrich,Hans Bühlmann,Hansjörg Furrer Textbook 20102nd edition Springer-Verlag Berlin Hei

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Market-Consistent Actuarial Valuation978-3-642-14852-1Series ISSN 1869-6929 Series E-ISSN 1869-6937

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EXCEL

Introduction,sion why we are interested in solvency. The general agreement then is that the balance sheet of an insurance company should be measured in a consistent way. This in particular motivates the development of a market-consistent valuation approach for insurance liabilities.

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Selected Topics,We conclude these lecture notes with selected topics and remarks. These selected topics give several ideas for further developments and research that go beyond the presentation of the previous chapters. For example, we treat the claims development result, profit sharing and legal quotes.

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Stochastic discounting,d on equivalent martingale measures, economists use the notion of state price density processes and actuaries use the terminology of deflators under the real world probability measure. In Chapter 2 we describe these concepts and we give explicit examples.

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