new isfaThe Institute of Financial and Insurance Sciences (ISFA) is a multi disciplinary education and research institute in Actuarial and Financial Sciences, dedicated to risk management.
It was created in 1930 and is the oldest French university structure to be qualified to deliver a diploma in actuarial sciences.

The school became a part of University Claude Bernard-Lyon 1 in 1998 and now welcomes over 600 students a year and a research laboratory (SAF), unique in France in the area of actuarial science.

SAFResearch activities of the SAF Laboratory, created in 1997, are multidisciplinary and are organized around studies on risks in finance and insurance. Its main fields are the mathematical modeling, the statistical analysis as well as the economic and financial analysis of risks for risk management.
The research topics of the laboratory are always evolving to include new risks (prolongation of human life, natural hazards…), the recent accounting standards (IFRS 4 Phase 2), the new prudential regulation systems (Basel 3, Solvency 2) and new risk management practices (Enterprise Risk Management). In particular some common research projects of the members of the laboratory propose a global reflection on the consideration of risks and dependence, and the impact of modeling on the management of financial firms.

All of ISFA's missions are carried out in close collaboration with companies from the financial and insurance sectors.

nullThe Laboratoire de Probabilités et Modèles Aléatoires (Laboratory of Probabilities and Random Models) is the result of the fusion (in 1999) of the former Laboratoire de Probabilté of the University Paris 6 and the team Probabilités et Statistique of the University Paris 7. The lab comprises about 150 members: 70 permanent teachers-researchers, 70 PhD students and 6 administration staff members.
It hosts the activities of two M.Sc. second year, which represent more than 200 students each year.

The laboratory's activities take place in the applied mathematics field and deal with modeling, describing and estimating random phenomena.

The research themes cover a wide range of domains, from pure mathematics to applications in various fields such as medical science, humanities, astrophysics, insurance, finance,...
The laboratory comprises five teams : Ergodic theory and dynamic systems, stochastic modeling, Brownian motion and stochastic calculus, statistics, numerical probability and financial mathematics.

Lolita logoCoordinated by Stephane Loisel, the ANR project LoLitA, Dynamic models for human Longevity with Lifestle Adjustment aims at developing models for the uncertain long term development of human longevity and methods for managing longevity-related risk in pensions and long term care.

The project is composed of six interconnected tasks, concerning respectively population dynamics modeling, long term care contracts, advanced simulation methods, multi-year solvency issues and joint stress tests, statistical aspects of longevity risk, and finally management of longevity risk in pensions.

BachelierThrough its activities, the Louis Bachelier Institute promotes bridges between research and business, illuminates the authorities on the issues of today and tomorrow and values ​​excellence of French research.Climate, demography, energy, digital: the twenty-first century saw transitions to the financial impact, economic, social and human as wide as sustainable.

Understand the economic and financial levers of these transitions to anticipate medium and long term effects, is the mission of the research network Louis Bachelier.

Bringing together 40 chairs and research initiatives, from the largest academic institutions, the Institut Louis Bachelier builds on the foundations of two ways * to support existing programs and allow the emergence of new projects.

Because these transitions beyond the disciplines, subjects, chapels, L'Institut Louis Bachelier was the motto opening.

Opening that gave birth to the first economic research network and French finance that today brings together over 300 researchers trans-disciplines and nearly fifty companies and organizations patrons from all universes.

With this diversity, the institute actively participates in economic debates by disseminating the results of its research programs.

Find our analysis, deciphering and daily news on , the magazine of research in economics and finance. In our conferences . Discover our publications, Les Cahiers Louis Bachelier and opinions and debates .


 The objectives of the Pensions Institute are 

  • Pensions Instituteto undertake high quality research in all fields related to pensions
  • to communicate the results of that research to the academic and practitioner community to establish an international network of pensions researchers from a variety of disciplines to provide expert independent advice to the pensions industry and government. We take a fully multidisciplinary approach. For the first time disciplines such as economics, finance, insurance, and actuarial science through to accounting, corporate governance, law and regulation have been brought together in order to enhance strategic thinking, research and teaching in pensions. As the first and only UK academic research centre focused entirely on pensions, the Pensions Institute unites some of the world's leading experts in these fields in order to offer an integrated approach to the complex problems that arise in this field. The Pensions Institute undertakes research in a wide range of fields, including:
  • Pension microeconomics The economics of individual and corporate pension planning, long term savings and retirement decisions.
  • Pension fund management and performance.  The investment management and investment performance of occupational and personal pension schemes.
  • Pension funding and valuations.  The actuarial and insurance issues related to pension schemes, including risk management, asset liability management, funding, scheme design, annuities, and guarantees.
  • Pension law and regulation.  The legal aspects of pension schemes and pension fund management.
  • Pension accounting, taxation and administration.  The operational aspects of running pension schemes.
  • Marketing.  The practice and ethics of selling group and individual pension products.
  • Macroeconomics of pensions.  The implications of aggregate pension savings and the impact of the size and maturity of pension funds on other sectors of the economy (e.g. corporate, public and international sectors).
  • Public Policy.  Domestic and EU social policy towards pension provision and other employee benefits in the light of factors such as the Social Chapter of the Maastricht Treaty and the demographic developments in Europe and other countries. Research disseminated by the Pensions Institute may include views on policy but the Pensions Institute itself takes no institutional policy positions.