Actuarial models for life, disability and health insurance, presentation of established and modern methods, compilation of best-estimate actuarial assumptions, calculation of premiums and actuarial reserves, calculation of the total loss.

(I) Insurance of several lifes, total loss in a portfolio, collective model, Panjer recursion, reinsurance and types of contracts, inclusion of costs, sufficient premium, sufficient actuarial reserves (II) Construction of cohort life tables: methods for estimating mortality probabilities, tests for a trend, Whittaker-Henderson graduation of the raw data, Life table projection, mortality of old ages, confidence interval, selection effects (III) Markovian model for life insurance (discrete time): Examples of life insurance contracts, Markov property, Chapman-Kolmogorov equations, transition matrices, payment streams, prospective reserve, net actuarial reserves, Thiele's differential equation, examples of premium calculations (e.g. survivorship annuity, guaranteed annuities), annuities with payments for periods of less than a year, difference equation for the higher moments of the present value, recursion formula for the distribution function of the present value

oral exam

No lecture notes are available.