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Insurance mathematics in the 1990s has been influenced firstly, by the increase in catastrophic claims which had already become apparent during the early 1970s and 1980s and required new mathematical and statistical methods, and, secondly, by a fast
increasing financial market that is interested in new investment possibilities. Ideas from extreme-value theory and mathematical finance have been introduced into insurance mathematics and enriched classical insurance methods. But the exchange is not only from mathematical finance to insurance mathematics. The continuing occurrence of crashes in the financial market has led to a new development in mathematical finance: models and tools from insurance mathematics have entered the world of finance.
This paper presents examples, from both the insurance and the financial worlds. The choice of topics is guided by personal taste and my own work.
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