Premium Calculation Without Arbitrage? A note on a contribution by G. Venter

Peter Albrecht

ASTIN Bulletin, 1992, vol. 22, issue 2, 247-254

Abstract: Stimulated by a recent contribution by G. Venter in this journal the adequate-ness of (re-)insurance premium calculation based on the hypothesis of arbitrage free (re-)insurance markets is questioned. It is argued that—in contrast to the theory of financial markets—it is not reasonable to demand that insurance markets are arbitrage free. In addition the adjusted distribution principles put forward by Venter are claimed to be invalid.

Date: 1992
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