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New York University Polytechnic School of Engineering    
  Jan 17, 2018
2013-2014 Undergraduate and Graduate Bulletin (with addenda) [ARCHIVED CATALOG]

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FRE-GY 6051 Insurance Finance and Actuarial Science

1.5 Credits
This course highlights essential facets of actuarial science, insurance and finance insurance. The course assumes that students are familiar with basic notions of expected utility and stochastic processes, and options pricing. Topics include Insurance Business and Insurance Firms Management; Principles of Actuarial Science and Risk Pricing by both actuarial (historic and data based) and financial approaches (based on implied estimates of future losses). The expected Utility Approach to Insurance Risk Pricing and Management is briefly reviewed and greater attention is given to financial insurance derivatives; pricing Insurance Products (Life Insurance, Casualty, Pension Funds and Defined Benefits). The course concludes with an appreciation of the Principles of Insurance Management in a Dynamic and Global Setting. Throughout, the course uses numerous cases centered on financial insurance and actuarial problems and analyzes them from a financial markets perspective. Particular problems such as insurance pension funds, CATBOND and weather (insurance) derivatives and regulation are presented as case problems.

Prerequisite(s):   and matriculation into a graduate program sponsored by the Department of Finance & Risk Engineering, or permission of the Department.
Weekly Lecture Hours: 1.5 | Weekly Lab Hours: 0 | Weekly Recitation Hours: 0

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