Interest rates play a vital role in actuarial cash flow models by helping us figure out the value of money over time. In this blog post, we'll show you …
Insurance with riders (multiple model point sets)
Last update: 2025-03-20 | Created: 2023-07-12
Before we dive into building an insurance model with riders, let's briefly outline what this post will cover. Insurance products often come with optional coverages — also known as riders — that allow policyholders to extend their protection. Modelling such products requires a structured approach to handling multiple coverages efficiently. …
Scope of the VFA in IFRS 17
Last update: 2025-03-20 | Created: 2022-05-18
In life insurance under IFRS 17, there are two main valuation approaches: the General Measurement Model (GMM) and the Variable Fee Approach (VFA). This post focuses on the Variable Fee Approach - what it is and when it applies.
The VFA is a modification of the GMM, specifically for direct …
Solvency II in a nutshell
Last update: 2025-03-20 | Created: 2022-01-01
When you become an actuary, you hear the term Solvency II a lot. It is one of the most important regulatory frameworks in the insurance industry. Designed to ensure that insurers remain solvent and can meet their obligations, Solvency II establishes risk-based capital requirements and reporting standards.
In this post, …
lifelib's basic term in cashflower
Last update: 2025-03-01 | Created: 2025-02-28
lifelib is an open-source Python package designed for actuarial modelling. It's a significant contribution to the actuarial community, offering one of the few — if not the only — open-source actuarial cash flow models. This makes it a valuable tool for enhancing modelling skills.
The package includes multiple libraries, one …