Self-study guide to mastering actuarial science for non-life (re)insurance
I've received quite a few emails over the years from readers asking if I can recommend resources for learning actuarial science, usually as an aid to get a head start on a university course, but sometimes as a supplement to their main job. Below I've laid out my thoughts on a self-study plan, covering the technical skills and background information which I believe need to be mastered in order to be able to work as a successful actuary.
I've broken the steps down into four core textbooks, which I think cover 80% of everything you ever need to know to be a highlight successful actuary. I've then listed 4 core background topics which I think one would need to have a solid grounding in.
I've broken the steps down into four core textbooks, which I think cover 80% of everything you ever need to know to be a highlight successful actuary. I've then listed 4 core background topics which I think one would need to have a solid grounding in.
The 4 core texts
Pricing -
Reserving -
General market understanding
Actuarial loss models
4 core background topics
Probability and stats -
Accounting and finance -
Economics -
Law -
Core background skills
Excel (possibly VBA)
Coding
Machine learning
Recommended papers and other resources
Flower
Spare data
Fackler, in particular inflation, but also in loss free
MBBEFD paper
GIRO/working parties: TPWP, PPOs
Taleb - shadow means
Swiss Re - exposure rating
Warren buffet - newsletters
Books on specific topics
Lloyd's - a couple
AIG
Kiln
Modelling extremel events
Information theory, inference and learning algorithms
Making a market for acts of gods
Against the Gods: The Remarkable Story of Risk,
Taleb - fooled by randomness
Superforceasting
Further notes on the guide
Not a guide to becoming an actuarial
My thoughts on the exam material
Soft skills, career skills, professional or ethical skills, etc.
UK bias
Pricing -
Reserving -
General market understanding
Actuarial loss models
4 core background topics
Probability and stats -
Accounting and finance -
Economics -
Law -
Core background skills
Excel (possibly VBA)
Coding
Machine learning
Recommended papers and other resources
Flower
Spare data
Fackler, in particular inflation, but also in loss free
MBBEFD paper
GIRO/working parties: TPWP, PPOs
Taleb - shadow means
Swiss Re - exposure rating
Warren buffet - newsletters
Books on specific topics
Lloyd's - a couple
AIG
Kiln
Modelling extremel events
Information theory, inference and learning algorithms
Making a market for acts of gods
Against the Gods: The Remarkable Story of Risk,
Taleb - fooled by randomness
Superforceasting
Further notes on the guide
Not a guide to becoming an actuarial
My thoughts on the exam material
Soft skills, career skills, professional or ethical skills, etc.
UK bias