Actuaries Books Review: Actuarial science has become one of the most desired mathematical courses in the world. This is majorly due to the high demand for people with such skillsets. Actuarial science has two major applications which include pension and life insurance.
However, experts have been able to broaden their applications in financial organizations and pretty much any organization that involves risk-taking.
Through mathematical evaluations, an actuarial scientist can evaluate the future of your company and the risks involved. This will help you get the best out of your investment.
As much as the course is appealing to any person, it requires a high level of study and dedication. Therefore, for you to be successful, you need to find the best actuaries books. And that is why I have compiled the 10 best actuaries books in the business.
1) Achieving Your Pinnacle By Tom Miller
Achieving Your Pinnacle By Tom Miller: By now, I know you already know that actuarial science is based on mathematical equations. As a fan of mathematics, I’m sure you’re planning to join the course if you haven’t joined it. But there’s a lot more to actuaries than what meets the eye.
There’s a section in actuaries that you will need to know more about the business world. And that is where this actuarial book comes in. Achieving Your Pinnacle is among the best actuaries books that will enlighten you more on the business side of the course.
This book makes it easy to grasp every sector of the course with easy-to-follow instructions and illustrations. It will help you get the whole concept of the course. If that’s not enough, Tom Miller manages to show the readers how to conduct job searches which will help you as an expert get the best out of actuarial science. You don’t want to miss this
2) Life, Death, and Money By Derek Renn
Life, Death, and Money By Derek Renn: As an actuarial scientist, you learn how to take risks and bank on mathematical equations. Most importantly, every risk will either have bad or good results. That is why you need to be accurate in your calculations.
Most Actuaries books will give you a personal experience on how to go about the course. But this book stands tall among the rest of the collections. That is because it has different authors who explain their personal experiences in the field.
I guarantee you that the stories in this book as easy to understand that even someone who’s not in the insurance industry can read them. That means, if you are planning to take up actuarial science in the future, then this book is at your best interest.
3) Solutions manual for Probability for Risk Management By Donald G. Stewart
Solutions Manual for Probability for Risk Management By Donald G. Stewart: In the system, we live in today, your skills are put to test through examinations. Everything you learn in class is gauged through sitting down and taking an exam at the end of the semester.
With that in mind, you always have to perform your best in any examination. One of the headaches in Actuaries is the Probability class. Luckily, there are a number of best actuaries books in the market to help you with this section. But none of them can actually explain the concept of Probability as well as Donald’s Book.
This book will help you study and prepare for your exams with the right solutions. More importantly, you can also use this text to teach your class since it covers most of the basic sections in Probability.
4) Pension Actuarial Mathematics By Philip Martin McCaulay
Pension Actuarial Mathematics By Philip Martin McCaulay: As I said earlier, Actuarial science is a tough course that people tend to ignore that fact by how marketable the course is. Therefore, you need to make sure you have enough resources and prepare for this unit. To get you started, you can check out this book by Philip Martin.
He explains in detail the basics of Pension funding which is one of the vital sections in Actuarial science. As a student, you will learn a lot by purchasing this book. The author Philip Martin is an experienced actuary and hence you can trust the information in this book is relevant to your course.
5) Mathematics of Investment and Credit By Samuel Broverman
Mathematics of Investment and Credit By Samuel Broverman: This book takes the mathematical equations behind credit to another level. As an actuary student, you need to take a look at this book. The major concepts of the financial options, interest rates swaps, and other sections are well explained in the pages of this book.
The best part is that Samuel wrote this book to fit any University courses that might have concentrated in the financial sector. More to that, the book contains a number of different key concepts that you can easily understand and take into consideration.
6) Insurance Industry Mergers and Acquisitions By Jim Toole
Insurance Industry Mergers and Acquisitions By Jim Toole: In 489 pages. Jim Toole manages to explain the Mergers and acquisition process from expert opinions in different finance sectors. From actuaries, accounting to other practical examples that will help you get the best out of your course.
If you are looking for an advisor in the M&A process, then this book is our best bet.
7) Probability An Introduction Guide For Actuaries and other Business Professionals By Carr & Gauger
Probability An Introduction Guide For Actuaries and other Business Professionals By Carr & Gauger: Probability is a big concept in the world of actuarial science. This book covers the SOA/CAS exam and will prepare you for the end-semester exams. If you need to prepare for your exams, then this text is the best actuaries book for you.
8) Practical Risk Theory For Actuaries By C.D. Daykin
Practical Risk Theory For Actuaries By C.D. Daykin: With a lot of practical examples, this book by C.D Daykin will give you the chance to understand risk theory. If you are planning to take your actuaries skills to the next level, then take a look at this practical book. It will help you understand larger problems that your fellow classmates can’t comprehend.
In the first few pages, the author explains the aggregate claim using examples that make it easy to understand. If you want to get more insight into the stochastic modeling of the insurance business, then this is the best actuaries’ book for you.
9) Actuarial Science – An Elementary Manual
Actuarial Science – An Elementary Manual: This is an advanced book that increases the knowledge of Actuarial science in students. Additionally, these are the few actuaries books that cover the traditional concept behind actuary science.
Through this book, you will be able to see the evolution of actuarial science to the concept it is today. You don’t want to miss this opportunity to learn more about your course
10) Understanding the Insurance industry By A.M Best Company
Lastly, this is a book by A.M. Best Company that provides illustrations on how the insurance industry operates and many more. If you are looking for an actuary book to discuss the concept of Insurance and how the industry works, then this is the best actuaries book in the market today.
The book is designed into six sections: the overview, property/casualty sector (also known as non-life insurance), life, health, reinsurance, and alternative risk transfer, and the function of A.M. Best in the industry.
Most of the readers provide five stars after reading this book. Yet, some readers said it is very basic and it is not for a licensed agent.