Life Death and Money: Actuaries and the Development of Social and Financial Markets - Tapa dura

Acerca del autor

Derek Renn is the author of Life, Death and Money: Actuaries and the Development of Social and Financial Markets, published by Wiley.

De la contraportada

Actuaries are experts in assessing risk, so it is not surprising that over the past few years they have become involved in many new areas of financial planning, including the appraisal of major capital projects.

In this collection of essays published to celebrate the Institute of Actuaries' 150th Anniversary, leading experts describe how actuarial concepts have contributed to many important social and financial developments, and how these ideas will continue to "make financial sense of the future."

Even non-mathematicians will find this book useful in understanding how the scientific bases of the insurance and pensions industries grew up, and how they work today.

The authors each write from the perspective of their own special expertise. They include five former presidents of the Institute of Faculty of Actuaries.

De la solapa interior

Actuaries Make Financial Sense of the Future Actuaries are experts in assessing the financial impact of tomorrow's uncertain events. They enable financial decisions to be made with more confidence by:

• analysing the past
• modelling the future
• assessing the risks involved, and
• communicating what the results mean in financial terms

Actuaries Enable More Informed Decisions Actuaries add value by enabling business and individuals to make better-informed decisions, with a clearer view of the likely range of financial outcomes from different future events.

The actuary's skills in finance and in risk management are used extensively in the areas of insurance, pensions and investment. Within these industries, actuaries manage and lead in the design and pricing of products. Actuaries also advise on the overall management of insurance companies and pension schemes.

Actuarial skills are valuable for any business managing long-term financial projects both in the public and private sectors.

Actuaries apply professional rigour combined with a commercial approach to the decision-making process.

Actuaries Balance the Interests of All Actuaries balance their role in business management with responsibility for safeguarding the financial interests of the public. The duty of actuaries to consider the public interest is illustrated by their legal responsibilities for protecting the benefits promised by insurance companies and pension schemes. The profession's code of conduct demands the highest standards of personal integrity from its members.