Dear Sir or Madam,

Because of the great success in the past, the EAA will again offer a seminar based on the book "Stochastic Modeling - Theory and Reality from an Actuarial Perspective" (© 2010 International Actuarial Association) on 29 September - 1 October 2014 in Milan, Italy. This is already the sixth time we organise this seminar in cooperation with the International Actuarial Association (IAA).

The seminar intends to provide actuaries with a comprehensive resource that details current stochastic methods, provides background on the stochastic technique as well as their advantages and disadvantages. The key speakers are primary authors who contributed to Life and Non-Life sections of the book, and theseminar will cover a wide range of topics presented in this book.

As recently as the mid-1990s, most models used in financial analysis of insurance were deterministic. Based on sets of static parameters and assumptions, these models largely ignored random fluctuations that were likely to occur. Sensitivity analyses were performed but were generally limited to a fixed number of defined scenarios. This deterministic approach is rapidly being replaced by stochastic modeling that can better inform insurers on pricing, financial planning, and capital assessment strategies. Huge advancements in computing power have made it possible for actuaries and financial planners to better understand the increasingly complex risk profiles of insurers' evolving product design.

The early-bird registration fee is € 790.00 plus 22 % VAT until 15 August 2014. Register now and benefit from this attractive offer! After this date the fee will be € 970.00 plus 22 % VAT.

Please find additional information and a registration form on our website. An overview on upcoming events is enclosed as well.

If you have any questions, please do not hesitate to contact us.

Best regards and have a nice weekend

Jana Schumacher

EAA - European Actuarial Academy GmbH

Hohenstaufenring 47 - 51

50674 Cologne

Germany

Tel. +49 (0) 221 912554 - 40

Fax +49 (0) 221 912554 - 45

Jana.Schumacher@aktuar.de

www.actuarial-academy.com