Profit and other financial concepts in insurance
- 1 December 1976
- journal article
- Published by Cambridge University Press (CUP) in Journal of the Institute of Actuaries
- Vol. 103 (3) , 233-305
- https://doi.org/10.1017/s0020268100017972
Abstract
1.1. The aim of this paper is to initiate a discussion between actuaries, accountants, the Department of Trade and others working in insurance on our basic concepts, language, methods and aims. We need to discuss concepts and to agree on language in order to be able to discuss methods and aims. The concepts and language developed by actuaries in life business are very different from those used in non-life insurance and a synthesis of the two is long overdue.Keywords
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