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  1. J. Lemaire.
Automobile Insurance: Actuarial Models. Kluwer
  // 1996, 306 p.
  ISBN 0-89838-166-5.

Ж. Лемер.Автомобильное страхование. Актуарные модели.The book is a comprehensive exposition of the actuarial methods in the automobile insurance. The book is written for non-life actuaries. It will be interesting for the insurance managers and may be used as a textbook while teaching the university courses of non-life insurance.

Quote the abstract from the back-cover of the book: "The book is divided into four main parts. Part I delineates the system of automobile ratings adopted in France, Germany, Great Britain, The Netherlands, Sweden, Switzerland, Quebec, and the United States. This section also discusses the major problems encountered there. Part II includes a statistical analysis of the portfolio of one of the largest Belgian companies. After showing that the usual method of rate determining is faulty, three classical selection methods are described and applied in order to correct the problems encountered. Part III introduces a probabilistic model that allows the development of a fair experience rating.
Two efficiency models are defined, providing the means of comparing the different systems in force in the word. Part IV deals with the important problem of reserving. The main global methods of calculating reserves are discussed.

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2. J. Lemaire.
  Bonus-Malus Systems in Automobile Insurance. Kluwer
  // 1995, 259 p.
 ISBN 0-7923-9545-X

Ж. Лемер.Системы бонус-малус в автомобильном страховании.
The book is written by an expert in the actuarial methods in automobile insurance. It is closely related to the book by the same author "Automobile Insurance: Actuarial Models" (Kluwer, 1996) and is in a sense its development. It contains an overall presentation of the automobile insurance particulars in a number of countries in Europe, America, Asia, a case study and a review of the different probability distributions that can be used to model the severity and number of claims in an automobile insurance. Dealing with many theoretical problems of that field, it is interesting for the insurers and actuaries. The book will be useful in teaching University courses.

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 N. Bowers, H. Gerber, J. Hickman, D. Jones, C. Nesbitt.
Actuarial Mathematics
2-nd ed., The Society of Actuaries, 1997, 655p.
ISBN 0-938959-46-8

Н. Бауэрс, Х. Гербер, Д. Джонс, С. Несбитт, Дж. Хикман.Актуарная математика.This book is the well-established basic course applied during a long time by the Society of Actuaries. The book contains the background of actuarial science. Starting from fundamental models, used mainly in the life insurance, the authors deal with risk theory models, and then to more difficult matter of life insurance and pension schemes. The exposition applies essentially the modern probability theory on the moderate level of complexity. The book is aimed at actuaries, mathematicians with interest in actuarial methods and to the students of both post- and under- graduate levels.


List of misprint in the translation, compiled by V.K.Malinovskii on 1 May 2002
List of misprint in the translation, compiled by F.Bisikov on 24 January 2003
List of misprint in the translation, compiled by V.Nikishov on 21 June 2006

Please inform V.K. Malinovskii on the address about newly found misprints.  

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4. S.E. Sawitch.
  Elementary Theory of Insurance and Pension Funds (in Russian);
(first ed. 1900, second ed. 1909), 3-d ed., with addenda. M.: Janus-K, 2003, 496 p.
ISBN 5-8037-0123-8

С.Е. Савич.Элементарная теория страхования жизни и трудоспособности.The book written by a prominent Russian actuary S.E.Sawitch (1864 - presumably 1936) exposes the background of the actuarial mathematics. Edited first in 1900, in the year when the Russian Empire switched to the pension schemes based on the mortality studies, and re-edited in 1909, it is completely up-to-date as a valuable scientific and educational monograph. The book supplies the reader (using standard actuarial notation!) with basic and not so basic facts about life insurance and pension models and with the actuarial technique appropriate to these models. The book is based on the classical Russian courses of the probability theory written by the worldwide authorities in that field - P.L. Tchebysheff and A.A.Markoff.


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H.H. Panjer (editor), P.P. Boyle, S.H. Cox, D. Dufresne, H.U. Gerber, H.H. Mueller, H.W. Pedersen, S.R. Pliska, M. Sherris, E.S.W. Shiu, Ken Seng Tan.
Financial Economics: with Applications to Investments, Insurance and Pensions. The Society of Actuaries
  // 1998, 549 p.
ISBN 0-938959-48-4.

Х.Панджер (редактор издания), Ф.Бойль, С.Кокс, Д.Дюфрень, Х.Гербер, Х.Мюллер, Х.Педерсен, С.Плиска, М.Шеррис, Э.Шиу, К.С. Тан.Финансовая экономика с приложениями к инвестированию, страхованию и пенсионному делу.This book is written as a second (after the book "Actuarial Mathematics") basic course applied by the Society of Actuaries.

Quote the abstract from the back-cover of the book: "This book covers many aspects of actuarial economics in the context of discrete time, with a bridge to continuous time. It is aimed at actuaries, financial engineers, and others with compatible technical skills, and it focuses on a broad range of applications...

The authors have combined a wide range of expertise to produce a book that balances the need for a reasonably formal treatment of key concepts in financial economics with the desire to discuss applications of the concepts to financial management."

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 6. Rob Kaas, Marc Goovaerts, Jan Dhaene and Michel Denuit.
Modern Actuarial Risk Theory.
Kluwer Academic Publishers, 2001, 372 p.
 ISBN 0-7923-7636-6

Р. Каас, М. Гувертс, Ж. Дэне, М. Денут. Современная актуарная теория риска.The book is well-known as a professional textbook used for the actuarial education in a number of European countries, e.g., Netherlands, Belgium. This edition is used by Universities and by the European Actuarial Academy ( in the program of professional training.

Quote the abstract from the back-cover of the book: "Apart from standard actuarial theory, Modern Actuarial Risk Theory contains methods that are relevant for actuarial practice, for instance the rating of automobile insurance policies, premium principles and IBNR models, as well as generalized linear models with an eye on actuarial applications. Furthermore extensive introductions are given to credibility theory and ordering of risks. The book reflects the state of the art in actuarial risk theory. In addition to some chapters which are compatible with official material of actuarial education in North-America, Europe and other parts of the world, the book contains important material on topics that are relevant for recent insurance and actuarial developments including determining solvency measures, fair-value computations, reserving, ranking of risks, modeling dependencies and the use of generalized linear models. Basic ideas on risk measures in the framework of insurance premiums are also considered. The numerous exercises contained in Modern Actuarial Risk Theory, together with the hints for solving the more difficult ones and the numerical answers to many others, make the book useful as a textbook. Some important practical paradigms in insurance are presented in a way that is appealing to actuaries in their daily business. The mathematical background assumed is on a level such as acquired in the first stage of a bachelors program in quantitative economics or mathematical statistics."

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Laboratory is headed by Vsevolod K. Malinovskii, Ph.D., D.Sc.



Actuarial consulting

Laboratory supplies professional consulting on methodology of actuarial computations and related problems in life, non-life insurance, reinsurance and pensions.
Among the consultancy projects done by the Laboratory are the



Modern Actuarial Risk Theory: multivariate analysis and Generalized Linear Model (GLM).
The book "Modern Actuarial Risk Theory" by R. Kaas, M. Goovaerts, J. Dhaene, M. Denuit was translated in Russian and published recently under the editorship of V.K. Malinovskii.



Dr. Michel M. Dacorogna, Member of the Senior Management of SCOR Group, held in April 23-24, 2008, the seminar entitled "Economics of Risk in Insurance".
Seminar took place in Moscow (Smolenskaya str., 5, the "Golden Ring" hotel) and comprised four talks:
1. The Price of Risk in Insurance.
2. Capital and Capital Management.

3. Adding time diversification to risk diversification.
4. ERM (Enterprise Risk Management), Towards an Holistic View of Risk Management.
Seminar was organized by the Association of European Businesses in RF with the participation of the Laboratory of Actuarial research of Finance Academy and financial support of the Representative offices in Moscow of Gen Re and of SCOR.



The 38th International ASTIN Colloquium was held in Manchester, UK, from Sunday
13 July to Wednesday 16 July, 2008.

It was a memorable event, professionally and socially, held in the heart of the United Kingdom. Participants enjoyed the warm hospitality of the British Actuarial Profession.



The 39th International ASTIN Colloquium was held in Helsinki, Finland, from Monday
1 June to Thursday 4 June, 2009.

Participants were particularly interested in that event dedicated to the memory of Teivo Pentikäinen whose contribution to the mathematical modelling of the insurance process is known worldwide.



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