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GAUSS Prize from DGVFM/DAV to Søren Asmussen

Søren Asmussen (AU) together with Mogens Bladt and Mogens Steffensen from the University of Copenhagen has won the Gauss Prize for their article ”Matrix representations of life insurance payments”.

Søren Asmussen

The German Society for Insurance and Financial Mathematics (DGVFM) and The German Association of Actuaries (DAV) 8 June 2021 awarded the GAUSS Prize for outstanding scientific work in insurance and financial mathematics (the prize is not to be confused with the EMS prize of the same name!). The high-ranking committee of experts from science and practice awards the prizes for specialist work that bridges the gap between scientific quality and high practical relevance.

The main prize is awarded for the best publication in the ”European Actuarial Journal”. This year's main prize was awarded to Mogens Bladt, Søren Asmussen and Mogens Steffensen for their paper ”Matrix representations of life insurance payments”.

The jury motivated the award as follows:

”The work introduces a new and very general approach to calculating the reserves of a life insurance policy. With the help of matrix methods, the authors succeed in establishing a framework in which numerous situations that arise in the evaluation, reservation and management of health, pension and life insurance products can be taken into account. The method can be implemented efficiently and allows for additional new interpretations of the reserve components.”

The German Association of Actuaries (Deutsche Aktuarvereinigung e.V., DAV) is the professional representation of all actuaries in Germany with more than 5,300 members. The German Society for Insurance and Financial Mathematics (Deutsche Gesellschaft für Versicherungs- und Finanzmathematik e.V., DGVFM) is the scientific partner organisation of DAV with approximately 5,200 individual and 70 institutional members.

To support and motivate especially scientists and young actuaries to investigate open actuarial questions, the DGVFM and DAV have established the annual Gauss Prize in 1998. The aim is to build bridges between actuarial science and the insurance and finance sectors.