Actuarial Models‎:‎ The Mathematics of Insurance‎,‎ Second Edition thoroughly covers the basic models of insurance processes‎.‎ It also presents the mathematical frameworks and methods used in actuarial modeling‎.‎ This second edition provides an even smoother‎,‎ more robust account of the main ideas and models‎,‎ preparing students to take exams of the Society of Actuaries ‎(‎SOA‎)‎ and the Casualty Actuarial Society ‎(‎CAS‎)‎‎.‎ New to the Second Edition * Revises all chapters‎,‎ especially material on the surplus process * Takes into account new results and current trends in teaching actuarial modeling * Presents a new chapter on pension models * Includes new problems from the 2011‎-2013 CAS examinations Like its best‎-selling‎,‎ widely adopted predecessor‎,‎ this edition is designed for students‎,‎ actuaries‎,‎ mathematicians‎,‎ and researchers interested in insurance processes and economic and social models‎.‎ The author offers three clearly marked options for using the text‎.‎ The first option includes the basic material for a one‎-semester undergraduate course‎,‎ the second provides a more complete treatment ideal for a two‎-semester course or self‎-study‎,‎ and the third covers more challenging topics suitable for graduate‎-level readers‎.‎