The Actuarial Conditions for the Valuation of Pension Liability to Become Zero Under Minimum Funding Standard Architecture
Abstract Pension valuation exercises for a defined benefit scheme requires an appraisal of both the schemes assets and its liabilities in different circumstances. The valuations are required to comply with regulatory standards, most notably the minimum funding standard. The objectives of this study are: (i) to compute the estimate of minimum funding standard of pension liability (ii) to establish the actuari...
A Mathematical Technique of Computing Technical Provisions and Premiums in General Business Insurance Under the Influence of Chain-Ladder and Cape Cod Framework
ABSTRACT An insurance company promises its policyholders to pay out benefits if certain events occur, for example, events such as a car accident and health conditions. When this is happens, the insurance company has a liability to pay the claims by technical provisions or claim reserving. The calculation of claim reserving must be done carefully in such a way that it should not cause loss to the company. Two of the common methods to calculate technical provisions in non-life insurance are the...