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Reserving: First Principles

In: A Risky Business

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  • Catrin Townsend

Abstract

In Chapter 1 , we explored the life cycle of a policy and noticed how in actuarial work, the cost of providing a service (in the form of claims costs or pensions) will be incurred in the future. A key part of actuarial work is estimating these future cashflowsCashflow. If these estimations are used to determine the amount of money a business needs to hold to meet future obligations, then this work is called setting the reserves, or simply reservingReserving.

Suggested Citation

  • Catrin Townsend, 2022. "Reserving: First Principles," Springer Books, in: A Risky Business, chapter 0, pages 209-221, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-11673-5_10
    DOI: 10.1007/978-3-031-11673-5_10
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