FRE 6051 Finance Insurance

1.5 Credits

This course highlights essential facets of actuarial science, insurance and finance insurance. The course assumes that students are familiar with basic notions of expected utility and stochastic processes, and options pricing. Topics include Insurance Business and Insurance Firms Management; Principles of Actuarial Science and Risk Pricing by both actuarial (historic and data based) and financial approaches (based on implied estimates of future losses). The expected Utility Approach to Insurance Risk Pricing and Management is briefly reviewed and greater attention is given to financial insurance derivatives; pricing Insurance Products (Life Insurance, Casualty, Pension Funds and Defined Benefits). The course concludes with an appreciation of the Principles of Insurance Management in a Dynamic and Global Setting. Throughout, the course uses numerous cases centered on financial insurance and actuarial problems and analyzes them from a financial markets perspective. Particular problems such as insurance pension funds, CATBOND and weather (insurance) derivatives and regulation are presented as case problems.

Prerequisite(s): FRE 6103
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Weekly Lecture Hours: 1.5 | Weekly Lab Hours: 0 | Weekly Recitation Hours: 0