June 2019: Lluis Bermúdez and Dimitris Karlis were awarded the XII Insurance Award “Ferran Armengol i Tubau”.
Bermúdez and Karlis were awarded for their contribution to the development of pricing models that consider dependence between components. The President of the Institut d’Estudis Catalans, the President of the Catalan Economic Society and the CEO of Mutua de Propietarios hosted the ceremony at the Casa de Convalescència in Barcelona.
As mentioned by Lluis Bermudez and Dimitris Karlis during the reception, theirs is a long lasting collaboration that has produced several papers in the best academic journals in the field. They explained in plain words that both insurers and policy holders should benefit from taking into account the correlation between the claiming experience of two or more coverages. They were warmly congratulated by many colleagues at the soirée following the event.
The insurance award is given every three years by the Catalan Economic Society in the memory of Ferran Armengol i Tubau. In the early XXth century, Ferran Armengol i Tubau and Carme Mir were a wealthy family in Barcelona and they had no children. They decided to donate their legacy to their nephews, who created the non-profit Foundation Armengol-Mir. Lluis and and Francesc Bonet i Armengol, decided that part of the legacy had to be dedicated to promote research and innovation in the field of insurance in all areas: law, history, mathematics and finance. The reason is that Francesc Bonet was a lawyer who always worked in the insurance sector. Lluis, who was a clergyman and the rector of Sagrada Familia, oriented the Foundation towards altruist support to poor people and education.
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