Dr. Krzysztof Ostaszewski
Distinguished Professor, Actuarial Program Director
Office
STV Stevenson Hall 313G
Office Hours
Tuesday, Thursday 3-4 p.m. (but may vary by semester)
Office Phone
Email
- About
- Education
- Awards & Honors
- Selected Research
Biography
Actuarial Program Director. Credentialed actuary with industry experience. Published several research monographs with Elsevier, American Mathematical Society, and Society of Actuaries. Papers in leading journals in actuarial science, mathematics and economics.
Current Courses
MAT 298.001 Professional Practice:Internship In Mathematics
MAT 380.001 Actuarial Models I
MAT 470.001 Actuarial Models I
MAT 383.001 Actuarial Models III
MAT 473.001 Actuarial Models III
MAT 384.001 Actuarial Models IV
MAT 484.001 Actuarial Models IV
MAT 480.001 Applications of Actuarial Principles
MAT 280.001 Financial Mathematics
MAT 299.001 Independent Honor Study
MAT 400.005 Independent Study
MAT 498.001 Professional Practice In Mathematics
MAT 298.001 Professional Practice:Internship In Mathematics
Teaching Interests & Areas
Actuarial science, Asset-liability management, Financial mathematics, Probability.
Research Interests & Areas
Actuarial science, Asset-liability management, Financial mathematics, Probability.
Ph D Mathematics
University of Washington
Seattle, WA
Distinguished Professor
Illinois State University
2020
Centers of Actuarial Excellence
Society of Actuaries
2012
Letter of acknowledgemt
Center of Teaching, Learning and Technology for the work on Reggienet development.
2012
Professional Development thirty-year Certificate of Achievement
CFA Institute
2011
Distinguished Lecture of the College of Arts and Sciences
Illinois State University
2010
Grants and Contracts
Actuarial Program
Krzysztof Ostaszewski.
State Farm, Zurich, Katie School, Country Financial, Pinnacle Actuarial Resources, American Family Insurance, and D.W. Simpson.
High School Actuarial Career Fairs
Krzysztof Ostaszewski.
Chicago Actuarial Association and Midwest Actuarial Forum.
I Want You to Feel Your Pain
Krzysztof Ostaszewski.
55-57, (2011)
Book, Authored
ASM Study Manual for the Society of Actuaries Course P / Casualty Actuarial Society Course 1 Examination, Fifteenth Edition
Krzysztof Ostaszewski.
(2012), Actuarial Study Materials
ASM Study Manual for the Society of Actuaries Course P / Casualty Actuarial Society Course 1 Examination, Fifteenth Edition (online version)
Krzysztof Ostaszewski.
(2012), Coaching Actuaries
Actex MLC Five Practice Exams, 2012 Edition
Krzysztof Ostaszewski.
(2012), Actex Publications
Actex MLC Review Questions, 2012 Edition
Krzysztof Ostaszewski, Peter Murdza.
(2012), Actex Publications
Study Manual for the Society of Actuaries Course FM Examination, 2012 edition
Krzysztof Ostaszewski.
(2012), Actex Publications and The Actuarial Bookstore
Study Manual for the Society of Actuaries Course MLC Examination, 2012 edition
Krzysztof Ostaszewski.
(2012), Actex Publications and The Actuarial Bookstore
The 6666 Problem
Krzysztof Ostaszewski, Roger Eggleton.
(2012), 96, 39-48, The Mathematical Gazette
Book, Chapter
ALM in Financial Intermediation: The Derivatives Business
Krzysztof Ostaszewski.
(2012), 111-121, Asset–Liability Management for Financial Institutions, A & C Black Publishers Ltd.
An Interview with Mr Johan van Zyl, CEO of Sanlam, South Africa
Krzysztof Ostaszewski.
(2012), 51, 21-22, The Four Pillars Newsletter: Research on Insurance, Retirement and Social Security
Editorial
Krzysztof Ostaszewski.
(2012), 1-2, The Four Pillars Newsletter: Research on Insurance, Retirement and Social Security
Illinois State University: Creating Actuarial Capacity in Rare Harmony
James Jones, Krzysztof Ostaszewski.
(2012), 81-86, Promoting Microinsurance in Ghana, National Insurance Commission of Ghana and Deutsche Gesellschaft für Internationale Zusammenarbeit
Najlepiej zarabiajacy lekarze i horrendalne ceny leków: co zmieni sie w USA po wyborach?
Krzysztof Ostaszewski.
(2012), an interview at Bankier.pl portal about health insurance reform in the United States (in Polish),
The Four Pillars: Looking at the Last 25 Years and the Next 25 Years
Krzysztof Ostaszewski.
(2012), 1-5, The Four Pillars Newsletter: Research on Insurance, Retirement and Social Security
The Holistic View: Why All Four Pillars Need to Work in Concert
Krzysztof Ostaszewski.
(2012), 2-8, The Four Pillars Newsletter: Research on Insurance, Retirement and Social Security
The financial crisis: impact on the four pillars of old-age protection
Krzysztof Ostaszewski.
(2012), Addressing the Challenge of Global Ageing—Funding Issues and Insurance Solutions, The Geneva Association
The holistic view: why all pillars need to work in concert
Krzysztof Ostaszewski.
(2012), Addressing the Challenge of Global Ageing—Funding Issues and Insurance Solutions, The Geneva Association
Dynamic Models for Valuation of Wrongful Death Compensation
Krzysztof Ostaszewski, Hong Mao, Youyu Zhang.
(2011), Investigaciones En Seguros Y Gestion Del Riesgo, Instituto del Ciencias del Seguro
Insurance Pricing, Reinsurance and Investment Decision Based on the Mutual Benefit of the Insurer and the Customer
Krzysztof Ostaszewski, Hong Mao.
(2011), 91-95, Proceedings of the 2011 IEEE International Conference on Industrial Engineering and Engineering Management
Pricing Insurance Contracts and Determining Optimal Capital of Insurers
Hong Mao, Krzysztof Ostaszewski.
(2010), 1-5, Proceedings of the 2010 IEEE International Conference on Industrial Engineering and Engineering Management
Modigliani, Miller and Mortgages
Krzysztof Ostaszewski.
(2009), Housing in Retirement, Society of Actuaries
Revisiting Pension Actuarial Science
James Rizzo, Krzysztof Ostaszewski, Piotr Krekora.
(2009), Public Pensions Finance Symposium of the Society of Actuaries
Insurance
Richard A. Derrig, Krzysztof Ostaszewski.
(2008), 329-342, 10.4135/9781452226620.n20, Handbook of Probability: Theory and Applications, SAGE Publications, Inc.
Empirical study of the meaning of the hedge “VERY”
Patricia Cerrito, Waldemar Karwowski, Krzysztof Ostaszewski.
(1991), 672-674, 10.1007/3-540-54029-6_216, Lecture Notes in Computer Science, Springer Berlin Heidelberg
The space of Henstock integrable functions II
Piotr Mikusiński, Krzysztof Ostaszewski.
(1990), 136-149, 10.1007/bfb0083105, Lecture Notes in Mathematics, Springer Berlin Heidelberg
Conference Proceeding
Insurance as a Solution to the Tragedy of the Commons
Krzysztof M Ostaszewski.
Proceedings of the Hawaii University International Conference, January 2022, 8, (2022)
Journal Article
Pricing reinsurance and determining optimal retention based on the criterion of maximizing social expected utility
Hong Mao, Krzysztof Ostaszewski.
European Journal of Management and Business Economics, 32 (4), 395-416, (2023), 10.1108/ejmbe-06-2022-0194
Actuarial Credibility Approach in Adjusting Initial Cost Estimates of Transport Infrastructure Projects
Bartlomiej Rokicki, Krzysztof Ostaszewski.
Sustainability, 14 (20), 13371, (2022), 10.3390/su142013371
Equivalent Risk Indicators: VaR, TCE, and Beyond
Silvia Faroni, Olivier LeCourtois, Krzysztof Ostaszewski.
Risks: Special Issue, Actuarial Mathematics and Risk Management, 19, (2022), https://doi.org/10.3390/risks10080142
Mortality Improvement and Risk Analysis in Chinese Annuity Insurance with Stochastic Interest Rate and Stochastic Investment Return
Hong Mao, Krzysztof Ostaszewski, Jin Wang, Zhongkai Wen.
Business and Economics Journal, Volume 13 (Issue 3), 8 pages, (2022), DOI. 10.37421/21516219.2022.13.375
Optimal Claim Settlement Strategies under Constraint of Cap on Claim Loss
Hong Mao, Krzysztof M Ostaszewski.
Mathematics, Special Issue: Mathematical Economics and Insurance, 9 (24), 3284 (page number provided in an online publication), (2022), https://doi.org/10.3390/math9243284
Time Inconsistent Stochastic Differential Game: Theory and an Example in Insurance
Hong Mao, Krzysztof M Ostaszewski, Jin Wang, Zhongkai Wen.
Business and Economics Journal, Volume 13 (Issue 2), 12 pages, (2022), DOI: 10.37421/2151-6219.2022.13.366
Sunk Costs and Screening: Two‐Part Tariffs in Life Insurance
James M. Carson, Cameron M. Ellis, Robert E. Hoyt, Krzysztof Ostaszewski.
Journal of Risk and Insurance, 87 (3), 689-718, (2020), 10.1111/jori.12283
Optimal Decision on Dynamic Insurance Price and Investment Portfolio of an Insurer
Hong Mao, James M Carson, Krzysztof Ostaszewski, Zhongkai Wen.
Elsevier, 52, 359-369, (2013)
The effect of Pillar 1 on efficient investment portfolio choice in the case of the United States
Krzysztof Ostaszewski.
Palgrave MacMillan, 38 (4), 675-700, (2013)
The Darth Vader Rule
Patrick Muldowney, Krzysztof Ostaszewski, Wojciech Wojdowski.
Tatra Mountains Mathematical Publications, 52 (1), 53-63, (2012)
Deciding Whether a Life Insurance Contact Should be Reinstated
Mao Hong, Krzysztof Ostaszewski, Yuling Wang.
Journal of Insurance Issues, 34 (1), (2011)
Establishing An Index Insurance Triggers for Crop Loss in Northern Ghana
James R Jones, Askar Choudhury, Domingo Joaquin, Aslihan Spaulding, Krzysztof Ostaszewski, Genevieve Amamoo, Horace Melton, Marjorie Danso-Manu, Richard Bill, Mukthar Mahdi, Asliddin Odilov.
Microinsurance Innovation Facility, International Labour Office, (7), (2011)
Pricing Annuity Insurance Integrating Mortality Improvement Risk, Interest Rate Risk, Insolvency Risk and Insurance Demand
Hong Mao, Krzysztof Ostaszewski, Yuling Wang.
704-708, (2011)
Getting to grips with EU financial supervision
Krzysztof Ostaszewski, Stanislaw Kluza.
The Banker, (2010)
Alternative Pricing Models of Deposit Insurance Under Capital Forbearance
Krzysztof Ostaszewski, Hong Mao.
Asia-Pacific Journal of Risk and Insurance, 3 (2), 84-92, (2009)
Buffet Pricing
Babu Nahata, Krzysztof Ostaszewski, Prasanna Sahoo.
The Journal of Business, 72 (2), 215-228, (1999), 10.1086/209611
The Hausdorff dimension of graphs of density continuous functions. II
Zoltán Buczolich, Krzysztof Ostaszewski.
Proceedings of the American Mathematical Society, 123 (6), 1821-1825, (1995), 10.1090/s0002-9939-1995-1242076-6
ℐ-density continuous functions
Krzysztof Ciesielski, Lee Larson, Krzysztof Ostaszewski.
Memoirs of the American Mathematical Society, 107 (515), 0-0, (1994), 10.1090/memo/0515
The space of Henstock integrable functions of two variables
Krzysztof Ostaszewski.
International Journal of Mathematics and Mathematical Sciences, 11 (1), 15-21, (1988), 10.1155/s0161171288000043
Continuity in the density topology II
Krzysztof Ostaszewski.
Rendiconti del Circolo Matematico di Palermo, 32 (3), 398-414, (1983), 10.1007/bf02848542
Presentations
Tax Management and Insurer Investments in Municipal Bonds
E. Tice Sirmans, Krzysztof Ostaszewski.
Casualty Actuarial Society Spring Meeting, Toronto, Ontario, May, 2025
Series of lectures on insurance firm management and insurance regulation
Krzysztof Ostaszewski.
EM Lyon, Lyon, France, , 2012
The Role of Price Signals from the Insurance Industry for the Four Pillars
Krzysztof Ostaszewski.
The Four Pillars: The Next Twenty Five Years, Geneva, Switzerland, Intercontinental Hotel, December 7, 2012
Integrated Determination of Capital, Investment and Reinsurance Strategies for Insurers
Hong Mao, James Carson, Wei Hao, Krzysztof Ostaszewski.
Annual meeting of the Southern Risk and Insurance Association, Savannah, Georgia, November, 2012
Optimization of price, default ratio and capital under the regulatory criterion of maximizing social benefit
Hong Mao, James Carson, Krzysztof Ostaszewski, Nan Zhu.
Annual meeting of the Southern Risk and Insurance Association, Savannah, Georgia, November, 2012
Global Retirement Crisis and the Four Pillars System
Krzysztof Ostaszewski.
10-th Anniversary of the Foundation of the Institute of Applied Mathematics, Ankara, Turkey, October, 2012
longevity improvement, Solvency II implementation, and insurance accounting and regulation
Krzysztof Ostaszewski.
Meeting of the International Actuarial Association, Los Angeles, California, May, 2012
Actuarial capacity development
Krzysztof Ostaszewski.
International Microinsurance Conference, Accra, Ghana, May 22, 2012
Actuarial education for educators and students in Ghana
Krzysztof Ostaszewski.
Accra office of Deutsche Gesellschaft fuer Internationale Zusammenarbeit, Online, May 21, 2012
Risk and Sustainability
Krzysztof Ostaszewski, Jim Jones, Kevin Ahlgrim.
2012 Enterprise Risk Management Meeting, Washington, DC, April 18, 2012
Modigliani, Miller and Microinsurance
Krzysztof Ostaszewski, Jim Jones.
2012 Annual meeting of the Western Risk and Insurance Association, Online, January 5, 2012
The determination of the necessary economic capital of insurance companies
Krzysztof Ostaszewski, Hong Mao, Wei Hao.
2012 Annual meeting of the Western Risk and Insurance Association, Online, January 5, 2012