The Development of Insurance Mathematics Two Lectures Delivered Before the Stu
The Development of Insurance Mathematics Two Lectures Delivered Before the Stu
Miles Menander Dawson
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This was practically the beginning of annuities in that country. It was followed in 1749 by Buffon's "Tables of Prob- abilities of Human Life, " which was mainly a discussion of tables already published, but included also some new tables. Des Par- cieux, in his work, gave tables which he had constructed from the experience of two tontine funds and from the mortality in fourteen monasteries. The last became the standard table for insurance in France and remained standard until within the last ge...neration. In 1753 the scientist Kersseboom of The Hague brought out a volume discussing the tables of Halley and Buffon, and develop- ing some of the principles of the science. James Dodson, an English university man of high standing, began in 1748 the preparation of a volume entitled "Analytical Solution of Problems Eelating to Annuities. " Mr. Dodson began to take an interest in the subject comparatively late in his busy life, and his interest was rather sharpened than otherwise by the discovery that, while he might procure life insurance at very high rates in a stock company, and for a very short period, he could get no whole life insurance at all, even in the Amicable on the assessment plan, because he was more than 45 years of age.
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