Description: A synopsis of the findings of a study group of the institute and the Faculty of Actuaries, which addresses three types of actuarial notation.

Description: The scientific form of insurance was made possible by the emergence of probability in the 15th century. The first probability problem appeared in a book entitled Srunma de Arithmetica, Geornetrla, Proportloni et Probabilta 1494, written by Fra Luca Paccioli, a Franciscan monk.