The first edition of this seminal actuarial textbook from 1999 was authored by S. Haberman, P. Booth, R. Chadburn, D. Cooper and D. James, see the review Zbl 0935.62117. Since then, ideas and theories from financial economics have led to considerable development in actuarial thinking, techniques and applications. This second edition represents an important update. The book has 25 chapters, and they are divided into five parts: Investment, Life Insurance, General Insurance (or Non-life Insurance), Pensions, and Health Insurance. It covers all of the traditional areas of actuarial activities. At the end of each chapter there is a list of references, but there are no exercises.
The book avoids using sophisticated mathematics, as it is specifically aimed at final-year undergraduate students, M.Sc. students, and student actuaries preparing for the actuarial examinations of various professional bodies. Actuarial practitioners and researchers will find it as a useful guide to current actuarial thinking, methodologies and models.