The problem with Life Insurance mathematics is that there are very few really good books on the topic. This book does little to alleviate this situation. Inspite of its title, "Fundamentals of Actuarial Mathematics" is essential a text book on Life Insurance mathematics. Of its 372 pages, 243 are devoted to Life Insurance mathematics (the remaining pages focussing on risk theory, in particular compound distributions, Markov chains, Poisson processes and ruin models, all of which are usually considered in the context of property and casualty or general insurance). The explanations in the book are easy to understand and a reasonable number of worked examples and exercises are provided (with answers to the exercises given at the end of the book). However, at the same time, the explanations lack depth and the text book stops short of covering many of the more advanced topics in Actuarial Mathematics (such as increasing insurance policies and bonuses).
This is an adequate book for beginners and would be appropriate as a first text in Actuarial Mathematics. However, more advanced students are likely to find this book to be lacking.
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