This course provides an introduction to the basics of risk management in insurance. The lecture will be held completely in English. Designated topics are:
- Risk measures, economic capital and capital allocation
- Aspects of Solvency II
- Financial accounting
- Control parameters and performance indicators
- Interest rate risk
- State preference theory
- Equity options and the Black-Scholes-Merton model
- Portfolio planning and optimal decision theory
First Exam: March 1st, 2019: 12:00 (s.t.) - 14:00
Second Exam: April 26th, 2019: 14:00 (s.t.) - 16:00
Further information on exam:
- The exam will be carried out in written form.
- The exam will be open, i.e. you can also take the second without taking the first exam.
- Authorized auxiliaries: Pens, ruler and a non-programmable and non-graphic calculator.
- To take part in the first exam or/and in the second exam (in order to get a grade and, if you pass, the credits for the course), you have to register for the corresponding exam(s) via the Hochschulportal.
Within the lecture it is possible to achieve the certificate of the German actuarial society (DAV) in "Unternehmenssteuerung" (PO 4). Note that this certificate is equivalent to "Wertorientiertes Risikomanagement" (PO 3).
This certificate is a basic requirement for becoming an actuary in Germany.
To achieve this DAV certificate, it is required to pass the first course exam and a DAV supplement exam.
The material necessary for the DAV supplement exam will be discussed in a DAV supplement course, that will be held by Nils Sørensen.
The dates for the DAV supplement has been set as follows:
- Friday, Dec 7th, 2018: 16:00 (s.t.) - 20:00, H10
- Monday, Dec 10th, 2018 (canceled)
- Friday, Dec 14th, 2018: 17:00 (s.t.) - 21:00, H10
- Friday, Jan 11th, 2019 (canceled)
The DAV supplement exam will be carried out on
- Tuesday, Jan 15th, 2019: 18:00 (s.t.) - 20:00, H4/5
You can register for the DAV supplement exam on moodle.
Note that you need to do the registration on moodle either if you want to get the DAV certificate and a grade for the course, or if you only want to get the DAV certificate. In the first case, you also have to register for the (first) course exam via the Hochschulportal, whereas in the second case, you just register on moodle (no further registration required to take part in the (first) course exam in March in this case).
The marking of the DAV supplement exam is finished! You should have received an e-mail informing you if you have passed the DAV supplement exam or not. If you have not received this e-mail, please contact us.
The lecture is oriented at master students from "Mathematics and Management", "Economics" or "Finance" interested in insurance and actuarial science. Useful but not necessary are the lectures "Insurance Economics" and "Life-, Health- and Pension-Mathematics".