2025 - Page 2 of 2 - Asia Pacific Actuarial Conference

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Insurance operates on a fundamental principle: spreading risk across a group to make coverage affordable for individuals. This is where …

Present Value

Formula: PV = FV × vⁿ
Description: Calculates the current value of a future sum, where v = 1/(1+i)

Life Expectancy

Formula: e_x = Σ_t=0^∞ _tp_x
Description: Expected remaining lifetime for a person aged x

Annuity Present Value

Formula: ä_x = Σ_k=0^∞ v^k _kp_x
Description: Present value of a life annuity-due

Net Premium

Formula: P_x = A_x/ä_x
Description: Premium calculation for whole life insurance

Mortality Rate

Formula: q_x = d_x/l_x
Description: Probability of death within one year for a person aged x

Commutation Functions

Formula: D_x = l_x × v^x
Description: Common functions used to simplify actuarial calculations

Insurance Present Value

Formula: A_x = Σ_k=0^∞ v^k+1 _kp_xq_x+k
Description: Present value of a whole life insurance

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