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Books > Business & Economics > Finance & accounting > Finance
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Insurance and Risk Theory (Paperback, Softcover reprint of the original 1st ed. 1986)
Loot Price: R5,638
Discovery Miles 56 380
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Insurance and Risk Theory (Paperback, Softcover reprint of the original 1st ed. 1986)
Series: NATO Science Series C, 171
Expected to ship within 10 - 15 working days
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Canadian financial institutions have been in rapid change in the
past five years. In response to these changes, the Department of
Finance issued a discussion paper: The Regulation of Canadian
Financial Institutions, in April 1985, and the government intends
to introduce legislation in the fall. This paper studi.es the
combinantion of financial institutions from the viewpoint of ruin
probability. In risk theory developed to describe insurance
companies [1,2,3,4,5J, the ruin probability of a company with
initial reserve (capital) u is 6 1 -:;-7;;f3 u 1jJ(u) = H6 e H6 (1)
Here,we assume that claims arrive as a Poisson process, and the
claim amount is distributed as exponential distribution with
expectation liS. 6 is the loading, i.e., premium charged is (1+6)
times expected claims. Financial institutions are treated as
"insurance companies": the difference between interest charged and
interest paid is regarded as premiums, loan defaults are treated as
claims.
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