In this post, we want to share a list of some of the best actuarial books that helped us understand actuarial science better. This is just our personal list, but we think these books are great for anyone studying or working in the field.
Is there a book you think should be on this list? Let us know in the comments or use our contact form.
"Actuarial Mathematics" by Bowers, Gerber, Hickman, Jones, Nesbitt
This book was recommended to me when I started learning about life insurance, and it's often called the "actuarial bible". Some chapters were very useful when I was studying for exams, and now that my exams are done, I'm going through the whole book. I especially recommend it for learning about survival probabilities, premiums, and reserves — basically all the main concepts. My copy of the book was published in 1986.
"The Theory of Interest" by Stephen G. Kellison
This book is really helpful for understanding financial math. It's written in a way that starts with simple ideas and then explains more complicated topics. It helped me understand interest rates, financial annuities, bonds, and mortgages a lot better.
"Algorithms" by Aditya Y. Bhargava
While it's not specifically an actuarial science book, understanding algorithms can greatly enhance actuarial modeling. I highly recommend Algorithms by Aditya Y. Bhargava — it's one of my favorites! The book breaks down essential algorithms in a clear, approachable way, with plenty of illustrations and examples that make complex concepts easy to grasp.
What are your favorite actuarial books?