Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the 
insurance and finance industries. Actuaries are professionals who are qualified in this field through 
education and experience. In the United States, Canada, the United Kingdom, France and several other 
countries, actuaries must demonstrate their competence by passing a series of rigorous professional 
examinations.
Actuarial science includes a number of interrelating subjects, including probability, mathematics, 
statistics, finance, economics, and computer programming. Historically, actuarial science used 
deterministic models in the construction of tables and premiums. The science has gone through 
revolutionary changes during the last 30 years due to the proliferation of high speed computers and the 
synergy of stochastic actuarial models with modern financial theory.
Many universities have undergraduate and graduate degree programs in actuarial science. In 2010, a 
study published by job search website CareerCast ranked actuary as the first job in the United States. A 
similar study by U.S. News & World Report in 2006 included actuaries among the 25 Best Professions 
that it expects will be in great demand in the future.
This course will focus on insurance and reinsurance actuarial mathematics theories and their applications 
in terms of implementation.

First, we present some generalities. Then we present life and non-life insurance mathematics. Finally, 
we show the application of actuarial mathematics in the reinsurance field. We illustrate the theory with 
several examples using Excel and Visual Basic for Applications available in Excel, when an 
implementation is needed.

1 Generalities
	History
	Insurance
2 Life Insurance Mathematics
	Basic concepts
	Insurance in case of life
	Insurances in case of death
	Insurances both in case of life and death
	Premiums
	Reserves
3 Non-life Insurance Mathematics
	Basic concepts
	Premiums
	Reserves
4 Appendix : 
	Actuarial Formulae
	Mortality tables
	Actuary job profiles and market
References

Vladimir I. Rotar, Actuarial models: the mathematics of insurance, CRC Press, 2006.
Thomas Mikosch, Non-life insurance mathematics: an introduction with stochastic processes, Volume 13, Springer, 2004.
http://en.wikipedia.org/, Wikipedia.
http://www.legifrance.gouv.fr/, Law.
In French:
	Petauton, Theorie et pratique de l'assurance vie, 3eme edition, Dunod.
	Petauton, Theorie de l'assurance dommages. Manuel et exercices corriges, 4eme edition, Dunod.