Beiträge zur Mathematik der Lebensversicherung

The article examines first the functional relationship of premiums and reserves. It then proceeds to the development of reserves by accumulating gross dremiums less risk premiums and expenses on an experience basis, leading to reserves augmented by the surplus to the date of valuation. Finally the process is extended to include the effect of fluctuations in the value of the assets. It is shown that the methods described in the paper, which lend themselves to a prospective formulation, are particularly suitable for the administration of portfolins covered by assets subject to wide fluctuations in value.