How Math Is Transforming the Financial Industry
March 3, 2007
Trent University’s Department of Mathematics Welcomes Professor Tom Salisbury, President of Canadian Mathematical Society for Special Presentation
The President of the Canadian Mathematical Society, Professor Tom Salisbury, visited Trent University on March 21 to deliver a special presentation entitled “Modern Mathematical Finance, Applied to Insurance”.
During his presentation, Prof. Salisbury reviewed some of the mathematical ideas that have changed the face of the finance industry during the last 25 years, with an emphasis on hedging. He noted that these ideas have had a significant impact on insurance companies in recent years, causing many to develop products that combine traditional mortality risk with market risk. Prof. Salisbury also described his work on the pricing of guaranteed minimum death and withdrawal benefits he is conducting with Moshe Milevsky, associate professor of finance with the Schulich School of Business at York University.
This event was part of the new program emphasis in mathematical finance available to mathematics students at Trent University. Considered a new branch in mathematics, this specialization is designed to give students the rigorous mathematical, statistical and computing skills needed to apply them to the quantitative analysis of industrial, commercial or financial business decisions, or to undertake postgraduate work in these or related areas. Further information about this program is available by visiting http://www.trentu.ca/math/finance.