Risk Analysis in Finance and Insurance (Chapman & Hall/CRC Financial Mathematics Series)

Book Description

Development of quantitative strategies based mostly on stochastic evaluation is a vital achievement of contemporary monetary arithmetic. Risk Analysis in Finance and Insurance affords the primary complete but accessible introduction to the concepts, strategies, and strategies which have reworked threat administration right into a quantitative science and led to unified strategies for analyzing threat in each the insurance coverage and the finance arenas. Self-contained and filled with workouts and labored examples, the e-book serves equally properly as a textual content for programs in monetary and actuarial arithmetic and as knowledgeable reference for monetary analysts and actuaries. Ancillary digital materials will probably be accessible for obtain from the writer’s Web web site.

Product Description

“a useful addition to a rapidly expanding field.” – Journal of the Royal Statistical Society “Here is a comprehensive and accessible introduction to the ideas, methods and probabilistic models that have transformed risk management into a quantitative science and led to unified methods for analyzing insurance and finance risk.” -Business Horizons “Risk Analysis in Finance and Insurance by Dr. Alexander Melnikov is a self-contained and highly comprehensible introduction to mathematical finance and its interplay with insurance risk analysis. Students will like the book due to the many worked-out examples deepening the understanding of the theory. A special and probably unique feature of the book is its unified approach to financial and insurance risks. As a consequence of the convergence of financial and insurance markets, practitioners in financial institutions will have great benefit from books like Melnikov’s covering mathematical approaches to risk analysis in both markets in a consistent manner.” – Dr. Christian Bluhm, HypoVereinsbank, Munich, Germany

Review

Praise for the First Edition ! a helpful addition to a quickly increasing discipline. –Journal of the Royal Statistical Society Here is a complete and accessible introduction to the concepts, strategies and probabilistic fashions which have reworked threat administration right into a quantitative science and [have] led to unified strategies for analyzing insurance coverage and finance threat. –Business Horizons Risk Analysis in Finance and Insurance is a self-contained and extremely complete introduction to mathematical finance and its interaction with insurance coverage threat evaluation. Students will just like the e-book as a result of many worked-out examples deepening the understanding of the idea. A particular and in all probability distinctive characteristic of the e-book is its unified method to monetary and insurance coverage dangers. As a consequence of the convergence of economic and insurance coverage markets, practitioners in monetary establishments can have nice profit from books like Melnikov’s masking mathematical approaches to threat evaluation in each markets in a constant method. –Christian Bluhm, Credit Suisse, Zurich, Switzerland

About the Author

Alexander Melnikov is a professor in the Department of Mathematical and Statistical Sciences on the University of Alberta. Dr. Melnikov’s analysis pursuits embrace mathematical finance and threat administration, insurance coverage and actuarial science, statistics and stochastic evaluation, and stochastic differential equations and their functions.