Description: This paper demonstrates the calculation of the moments of the distribution of aggregate life insurance claims from seriatim inforce data, assuming that each record represents an independent Bernoulli trial with its own known probability of a claim, q. Continuous distributions matching the first three or four moments are identified.

Description: This paper presents the modeling of mortality risk from exposure to a potential future extreme event such as a natural disaster and a terrorist attack, and its impact on life insurance. With this new model, quantities associated with the total force of mortality such as survival function are derived and the impact of mortality risk on life insurance is examined.

Description: In this paper we shall present our results in terms of the estimation of human mortality rates, but the results carry over to other applications. We shall discuss a Bayesian model that encompasses both graduation [smoothing] and prediction.

Description: This paper investigates the use of models of dependent mortality for determining annuity values. We discuss a broad class of parametric models using a bivariate survivorship function called a copula. Using data from a large insurance company to illustrate our methods, we calculate maximum likelihood estimates to calibrate the rnodel.

Description: The purpose of this note is to show how certain formulas of life contingencies can be derived almost painlessly under the uniform distribution of deaths assumption.

Description: The purpose of this paper is to introduce the use of least squares for estimating parameters of mortality curves and discuss the advantages of this method.

Description: We employ a framework for the classification of mortality evolution patterns to HMD data. We find both supra-regional patterns and outliers from global trends.

Description: Securitization of mortality risks is an alternative risk management tool that may have some advantages over reinsurance. The purpose of this paper is to study mortality-based securities, such as swaps and mortality bonds, and to price the proposed mortality securities. We focus on group life annuity data, although the techniques could be applied to other lines of annuity or life insurance.

Description: By disinformation we mean the inclusion of data that should not be considered in a study. In this paper we discuss a case in which the presence of disinformation was clear, but it was not possible to determine with certainly which records were extraneous.

Description: The Lee and Carter LC method is getting widely adopted for long-run forecasts of age specific mortality rates. That popularity is first due to the model simplicity. Moreover, the LC model has given successful results for various countries e.g. U.S., Chile, G7 countries. However, some difficulties arose when using population data from certain countries such as UK and Australia. In the present paper, the LC model is applied to data from four Nordic countries: Denmark, Finland, Norway and Sweden. The Singular Value Decomposition SVD, the Weighted Least Square WLS and the Maximum Likelihood estimate MLE are used. These approaches give satisfactory results. The appropriate fitting period needs, however, to be well chosen. The properties of the model's parameters are studied using a bootstrap simulation.