Pricing Insurance Risk
Language: English
Published by John Wiley and Sons Inc, US, 2022
Series: Book 334 of 358 - Wiley Series in Probability and Statistics
- Hardcover
- New
Seller: Rarewaves.com USA, London, London, United KingdomRarewaves.com USA
AbeBooks seller since June 11, 2025
Condition: New
£ 109.25
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Add to basketItem description from seller
PRICING INSURANCE RISK A comprehensive framework for measuring, valuing, and managing risk Pricing Insurance Risk: Theory and Practice delivers an accessible and authoritative account of how to determine the premium for a portfolio of non-hedgeable insurance risks and how to allocate it fairly to each portfolio component. The authors synthesize hundreds of academic research papers, bringing to light little-appreciated answers to fundamental questions about the relationships between insurance risk, capital, and premium. They lean on their industry experience throughout to connect the theory to real-world practice, such as assessing the performance of business units, evaluating risk transfer options, and optimizing portfolio mix. Readers will discover: Definitions, classifications, and specifications of riskAn in-depth treatment of classical risk measures and premium calculation principlesProperties of risk measures and their visualizationA logical framework for spectral and coherent risk measuresHow risk measures for capital and pricing are distinct but interactWhy the cost of capital, not capital itself, should be allocatedThe natural allocation method and how it unifies marginal and risk-adjusted probability approachesApplications to reserve risk, reinsurance, asset risk, franchise value, and portfolio optimization Perfect for actuaries working in the non-life or general insurance and reinsurance sectors, Pricing Insurance Risk: Theory and Practice is also an indispensable resource for banking and finance professionals, as well as risk management professionals seeking insight into measuring the value of their efforts to mitigate, transfer, or bear nonsystematic risk.…
Seller Inventory # LU-9781119755678
- Title
- Pricing Insurance Risk
- Author
- Stephen J. Mildenhall, John A. Major
- Publisher
- John Wiley and Sons Inc, US
- Publication year
- 2022
- Condition
- New
- Binding
- Hardback
- Language
- English
- ISBN 10
- 1119755670
- ISBN 13
- 9781119755678
- Item weight
- 1,067 grams
- Series
- Book 334 of 358: Wiley Series in Probability and Statistics
A comprehensive framework for measuring, valuing, and managing risk
Pricing Insurance Risk: Theory and Practice delivers an accessible and authoritative account of how to determine the premium for a portfolio of non-hedgeable insurance risks and how to allocate it fairly to each portfolio component.
The authors synthesize hundreds of academic research papers, bringing to light little-appreciated answers to fundamental questions about the relationships between insurance risk, capital, and premium. They lean on their industry experience throughout to connect the theory to real-world practice, such as assessing the performance of business units, evaluating risk transfer options, and optimizing portfolio mix.
Readers will discover:
- Definitions, classifications, and specifications of risk
- An in-depth treatment of classical risk measures and premium calculation principles
- Properties of risk measures and their visualization
- A logical framework for spectral and coherent risk measures
- How risk measures for capital and pricing are distinct but interact
- Why the cost of capital, not capital itself, should be allocated
- The natural allocation method and how it unifies marginal and risk-adjusted probability approaches
- Applications to reserve risk, reinsurance, asset risk, franchise value, and portfolio optimization
Perfect for actuaries working in the non-life or general insurance and reinsurance sectors, Pricing Insurance Risk: Theory and Practice is also an indispensable resource for banking and finance professionals, as well as risk management professionals seeking insight into measuring the value of their efforts to mitigate, transfer, or bear nonsystematic risk.
"Synopsis" may belong to another edition of this title.
About the Author
Stephen J. Mildenhall has extensive general insurance experience, having worked in primary and reinsurance pricing, broking, and education since 1992. He is a Fellow of the Casualty Actuarial Society, an Associate of the Society of Actuaries, and holds a PhD degree in mathematics from the University of Chicago.
John A. Major has served as a research leader and data scientist in diverse insurance contexts, contributing to the state of the art in areas such as claim fraud detection, insurance-linked securities, terrorism risk, and catastrophe modeling. Since 2004, much of his attention has focused on the shareholder value of risk transformation. His publications in over a dozen books and journals have been cited in hundreds of scholarly articles. He is an Associate of the Society of Actuaries and holds a Master's degree in mathematics from Harvard University.
"About the title" may belong to another edition of this title.
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