Description: This is a study on the Nesbitt formula and the variants to this formula.

Description: A study note for Exam MFE (Actuarial Models–Financial Economics Segment). This document describes the parameter d (delta) in the Black-Scholes formula.

Description: Actuaries measure, model, and manage risks. Risk associated with the investment function is a major uncertainty faced by many insurance companies. Actuaries should have knowledge of the asset side of the balance sheet of an insurance company and how it relates to the liability side. From Securitization of Insurance Risk: The 1995 Bowles Symposium, M-FI97-1.

Description: This paper discusses the time value of ruin in a Sparre Anderson Model and presents multiple equations, including Lundberg's fundamental equation.

Description: This presentation shows that, if the options or guarantees are exercisable only at the moment of death of the policyholder, the mathematics simplifies to an elementary calculus exercise.

Description: This abstract describes a presentation that provides an opportunity for MLC teachers to discuss various issues arising from the new MLC examination syllabus.

Description: This paper shows that the Esscher transform is also an efficient technique for valuing derivative securities if the logarithms of the prices of the primitive securities are governed by certain stochastic processes with stationary and independent increments. Two applications are presented, the first for valuing a European call option and the second for pricing derivative securities of multiple risky assets.

Description: This abstract describes a presentation that shows that, if the options or guarantees are exercisable only at the moment of death of the policyholder, the mathematics simplifies to an elementary calculus exercise.

Description: Presents some elementary and down-to-earth calculations for the optimal dividend strategy that maximizes the expectation of the discounted dividends until the possible ruin of a company.