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Industry Loss Warranties (ILWs)

Industry Loss Warranties – ILWs

June 10, 2019

This is a short summary explaining Industry Loss Warranties (ILWs). ILW is explained in detailed in Actuarial SP7 subject (formerly ST7). Definition of ILW Industry loss warranties (ILWs) are a type of reinsurance contract where the basis of cover is not indemnity, i.e. repayment of actual losses suffered. Protection is based on the total loss arising from an event to the entire insurance industry rather than individual insured company’s own losses.  Trigger Event for ILWs The original size of the industry loss is used as a trigger for eligibility to a recovery. Often, the industry loss trigger is fixed, with reference to published information or a known …

CM1 Core Mathematics 1: First Milestone of New Curriculum

November 27, 2018

Actuarial Core Mathematics 1 (CM1) forms the core for classical actuarial expertise. It is one of the most interesting subjects and practical subjects with wide applicability. It provides students with essential knowledge by teaching the pricing of different financial products and life insurance contract. Actuarial …

Actuarial CM2 syllabus, CM2 excel practice workbook solutions-min

Introduction to Actuarial CM2: History, Exemptions, Links & Syllabus

November 2, 2018

Background of CM2 Actuarial History The Actuarial Mathematics subjects (Subjects Actuarial CM1 and Actuarial CM2) are new subjects in the Institute and Faculty of Actuaries 2019 Curriculum. Subject CM2 is Financial Engineering and Loss Reserving. Predecessors The topics covered in the Actuarial Mathematics subjects (Subjects …