Stochastic risk management for actuarial science

自2007年爆发金融危机以来，金融服务提供商的偿付能力已成为一个紧迫的调查领域。加拿大保险业比其他地方受到的损害要小得多。一个重要原因是，十年前开始转向更随机的风险管理。尽管如此，市场压力往往导致产品和偿付能力方面的挑战，直到风险敞口已经很大时才被认识到。为银行业开发的科学风险管理技术并不总是容易转移到寿险行业更长、更不确定的产品所带来的额外挑战，特别是在这些产品结合了市场和保险风险的情况下。一个典型的例子是人寿保险合同，其中包含保险和投资部分，以及嵌入的财务保证。

Since the financial crisis that began in 2007, the solvency of financial service providers has become an urgent area of investigation. The Canadian insurance industry came through rather less damaged than elsewhere. One important reason was the move towards more stochastic risk management initiated a decade ago. Still, market pressures have often resulted in products and solvency challenges that are not recognised until the risk exposure is already substantial. Scientific risk management techniques developed for banking do not always transfer easily to the additional challenges created by the longer, more uncertain products of the life insurance industry, especially where these products combine market and insurance risks. A classic example is a life insurance contract with insurance and investment components, with embedded financial guarantees.