Mathematical Models for the Longevity Risk in the Annuity Market

The markets for longevity derivatives are starting to develop. In last years, many companies have closed the defined benefit retirement plans that they used to offer to their employees. In addition, some governments increased the retirement age by 2 or 5 years to take into account longevity improvements, population ageing and the financing of pension. The insurance industry is also facing some specific challenges related to longevity risk. More and more capital has to be constituted to face this long-term risk, and new regulations in Europe, together with the recent financial crisis only amplify this phenomenon. Hence, it has become more important for insurance companies and pension funds to find a suitable and efficient way to cross-hedge or to transfer part of the longevity risk to reinsurers or to financial markets. In this study, we develop the models of mortality rates and the pricing models of the longevity risk. We make some remarks regarding forecasting mortality rates using Lee-Carter model and own model. Also, we deal with the securitization of longevity risk through the longevity bonds (the straight bonds), the interest are split between the annuity provider and the investors depending on the realized mortality at each future time by a Special Purpose Company (SPC).stochastic mortality model, Lee-Carter model, longevity risk, straight bonds

An analysis of equity in insurance. The mathematical approach of risk of ruin for insurers

The goal of the present paper is a short analysis for the insurers’ foreign equity in Romania and the development of a mathematical approach for the chronological evolution of the study regarding the insurers’ equity from the point of view of assessing the insolvency probabilities and the risk provision so the estimating insolvency risk will not over overcome an accepted value.Insurer, broker, adjusting coefficient, overcharging factor, probability of ruin, compound Poisson repartition.

HEURISTIC AND OPTIMUM SOLUTIONS IN ALLOCATION PROBLEMS

In this paper we present some models and algoritms for solving some typical production planning and scheduling problems. We present the Resource-Constrained Project Scheduling Problem (RCPSP) and algorithms for the determination of maximal couplings with minimal arch length in the graph attached to an allocation problem, and for the determination of the solution of Dirichlet problem and of the potential-voltage problem which appear in a production planning. We develop a model for allocating work among potential VO partners, taking into account fixed and variable work costs and transportation costs.Dirichlet’s problem, conex graph, maximal coupling, RCPS problem, virtual organization, allocation problem

SIE-SECURITY

The purpose of this paper is to present the application named SIE-Security providing web programmers with a tool that searches vulnerable links within their web site (i.e. a product page), attempting to perform an SQL Injection and finally, trying to find the admin login page and crack the MD5 hashed password (inappropriately called “crack” because we are actually using Rainbow tables). The application is structured on three tabs, each corresponding to the actions performed by the application and, if you take into consideration that this is a project in development, it could be considered an All-In-One database security testing utility.commerce, application, vulnerable, attack, decryption, security, testing

Multidimensional optimization algorithms numerical results

This paper presents some multidimensional optimization algorithms. By using the "penalty function" method, these algorithms are used to solving an entire class of economic optimization problems. Comparative numerical results of certain new multidimensional optimization algorithms for solving some test problems known on literature are shown.optimization algorithm, multidimensional optimization, penalty function

Measurements of doping-dependent microwave nonlinear response in cuprate superconductors

Near-field microwave techniques have been successfully implemented in the past for the local investigation of magnetic materials and high-temperature superconductors. This dissertation reports on novel phase-sensitive linear- and nonlinear response microwave measurements of magnetic thin films and cuprate superconductors and their interpretation

APPROACH TO DEVELOPMENT OF AN INTEGRATED PLAN TO ENSURE BUSINESS CONTINUITY IN THE POST-PANDEMIC PERIOD, BASED ON INTERNATIONAL MANAGEMENT SYSTEMS STANDARDS

The COVID-19 pandemic has caused an unprecedented disruption to the global economy and world trade, with production and consumption falling dramatically in many economic. Organizations around the world have responded in many ways, from implementing working from home and restricting non-essential employee travel to canceling events. Under the new conditions, organizations must be prudent, analyze and review their short-term action plan to ensure the sustainability of the organization. Most large organizations have developed a business continuity plan. In contrast, small and medium-sized organizations have relatively limited resources to assess changes in the external environment and to develop and adopt such plans. In the context of these evolutions, the implementation of management system defined by international standards has become essential to ensure that products and services meet the imposed requirements. The main objective of the paper is to develop the approach for an integrated business continuity plan to facilitate the continuation and resumption of activities in safe conditions, both for people and for the environment, by integrating international management system. This approach can be applied by any organization, regardless of size or field of activity, but the priorities may differ, depending on the field in which the organization operates

Theoretical Aspects for Designing a Land Consolidation Software

Land consolidation is a process widely used in Europe for counteracting the effects of land fragmentation. Eastern Europe and Romania have encountered this problem after the fall of communism in 1989. The purpose of this paper is to lay the foundations for designing a software application for land consolidation in Romania. This research adopts the constructivist paradigm using the methodology of hermeneutics for literature review. A land consolidation software should be able to provide certain functionalities – relocate and reallocate parcels and evaluate them on a score scale that takes into account: the surface and shape of the parcels, location, accessibility, relief conditions, floods, restrictions, land improvements and economic value

THE NEED OF INTERDISCIPLINARITY APPROACH ON LANDSLIDES RESEARCH IN ROMANIA

According to the World Atlas of Natural Hazards (McGuire et al., 2004), the landslides are the most frequent and worldwide developed natural hazard. It can occur on any type of terrain where exist the proper conditions concerning the soil or bedrock, groundwater and slope. The landslides usually occur accompanying the other natural hazards like heavy rainfall, floods and earthquakes. In time, all subgroups of natural hazards (cosmic, geological, hydro-meteorological and biological) have been recorded in Romania. Types of natural hazard are very numerous (over 67). But five from the most important hazards, regarding the number of dead or affected persons, or economic damages, are the earthquakes, floods, droughts, excessive temperatures and landslides (Marinescu et al., 2010).Actually, the landslides affect strong many country’s regions. The high frequency of landslides on land have great importance in the evolution and shaping of the landscape. Large areas of agricultural land suffered from landslides which also damaged various buildings both in villages and cities, and destroyed roads, railways, etc. Damage in industrial areas is also important. Landslide terrains could seal some running rivers causing partial or total blocking of leakage. The landslide research involves considerable human and financial efforts. Being on very complex process, its survey implies the using of many scientific disciplines. The need for interdisciplinary approach within the landslides, who to conduct at better knowledge and, finally at more adequate stabilization solutions, is the main objective of this paper

THE NEED OF INTERDISCIPLINARITY APPROACH ON LANDSLIDES RESEARCH IN ROMANIA

According to the World Atlas of Natural Hazards (McGuire et al., 2004), the landslides are the most frequent and worldwide developed natural hazard. It can occur on any type of terrain where exist the proper conditions concerning the soil or bedrock, groundwater and slope. The landslides usually occur accompanying the other natural hazards like heavy rainfall, floods and earthquakes. In time, all subgroups of natural hazards (cosmic, geological, hydro-meteorological and biological) have been recorded in Romania. Types of natural hazard are very numerous (over 67). But five from the most important hazards, regarding the number of dead or affected persons, or economic damages, are the earthquakes, floods, droughts, excessive temperatures and landslides (Marinescu et al., 2010).Actually, the landslides affect strong many country’s regions. The high frequency of landslides on land have great importance in the evolution and shaping of the landscape. Large areas of agricultural land suffered from landslides which also damaged various buildings both in villages and cities, and destroyed roads, railways, etc. Damage in industrial areas is also important. Landslide terrains could seal some running rivers causing partial or total blocking of leakage. The landslide research involves considerable human and financial efforts. Being on very complex process, its survey implies the using of many scientific disciplines. The need for interdisciplinary approach within the landslides, who to conduct at better knowledge and, finally at more adequate stabilization solutions, is the main objective of this paper