Review
Book Review: A History of British Actuarial Thought, Craig, Turnbull , Palgrave Macmillan, 2017, Cham, Switzerland, 345pp, ISBN: 978-3-319-33182-9
Annals of Actuarial Science, v 12(1)
01 Mar 2018
Abstract
Older actuaries still remember the inflation of the 1970s, the erosion of the value of government gilts and the emergence of equities as a popular investment for insurers and pension funds. Benjamin’s random walk approach highlighted the lack of diversification between unit linked policy guarantees, and the significant chance of insurers’ failure as a result of guarantees coming into the money on multiple policies simultaneously. After the roller-coaster stock market of the mid 1970s, the Profession’s procrastination paid off as strong growth lifted guarantees out of the money.
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Details
- Title
- Book Review: A History of British Actuarial Thought, Craig, Turnbull , Palgrave Macmillan, 2017, Cham, Switzerland, 345pp, ISBN: 978-3-319-33182-9
- Creators
- Andrew Smith
- Publication Details
- Annals of Actuarial Science, v 12(1)
- Publisher
- Cambridge University Press; Cambridge
- Resource Type
- Review
- Language
- English
- Academic Unit
- English and Philosophy
- Web of Science ID
- WOS:000437699300009
- Other Identifier
- 991021013171204721
InCites Highlights
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- Web of Science research areas
- Business, Finance
- Economics
- Mathematics, Interdisciplinary Applications
- Social Sciences, Mathematical Methods
- Statistics & Probability