Kenneth Zhou


Kenneth Qian Zhou is an Assistant Professor of Actuarial Science in the School of Mathematical and Statistical Sciences. He received his PhD in Actuarial Science from the University of Waterloo, and joined Arizona State University in Fall 2019. He is a Fellow of the Society of Actuaries (FSA) and an associate of the Canadian Institute of Actuaries (ACIA). He was also a Society of Actuaries James C. Hickman scholar from 2015 to 2019.

Kenneth’s research interests include longevity risk management, stochastic mortality modeling, and Bayesian modeling and forecasting. In particular, he focuses on the technical and economic issues of capital market solutions for longevity risk and mortality forecasting from the Bayesian perspective. His work also involves adapting statistical techniques to solve data-driven challenges and identify the source of financial and insurance risks.

Kenneth’s research work has been published in statistical, actuarial and insurance journals, including the Journal of the Royal Statistical Society: Series A, Insurance: Mathematics and Economics, and the Journal of Risk and Insurance. Some of his research findings are also published in professional publications, such as the Actuary Magazine and the Living to 100 Monograph. His paper on dynamic longevity hedging won the 2019 Redington Prize from the Society of Actuaries.

Kenneth is committed to actuarial curriculum development. He has developed two new courses, entitled "Advanced Mortality Modeling and Management of Longevity Risk" and “Topic: Quantitative Risk Measures” at Arizona State University.


Ph.D. University of Waterloo, Canada

Research Interests

  • Longevity risk management
  • Stochastic mortality modeling
  • Bayesian modeling and forecasting
  • Computational finance 
  • Financial time series analysis


  • Zhou, K.Q. & Li, J.S.-H. (2020). Asymmetry in mortality volatility and its implications on index-based longevity hedging. Annals of Actuarial Science, forthcoming.
  • Zhou, K.Q. & Li, J.S.-H. (2020). Longevity Greeks: What do insurers and capital market investors need to know? North American Actuarial Journal, forthcoming.
  • Li, J.S.-H., Li, J., Balasooriya, U., & Zhou, K.Q. (2020). Constructing out-of-the-money longevity hedges using parametric mortality indexes. North American Actuarial Journal, forthcoming.
  • Li, J.S.-H., Zhou, K.Q., Zhu, X., Chan, W.-S., & Chan, F.W.-H. (2019). A Bayesian approach to developing a stochastic mortality model for China. Journal of the Royal Statistical Society: Series A (Statistics in Society), 182(4), 1523-1560.
  • Zhou, K.Q. & Li, J.S.-H. (2019). Delta-hedging longevity risk under the M7-M5 model: The impact of cohort effect uncertainty and population basis risk. Insurance: Mathematics and Economics, 84, 1-21.
  • Zhou, K.Q. & Li, J.S.-H. (2017). Dynamic longevity hedging in the presence of population basis risk: A feasibility analysis from technical and economic perspectives. Journal of Risk and Insurance, 84(S1), 417-437.
  • Chan, W.-S., Li, J.S.-H., Zhou, K.Q., & Zhou, R. (2016). Towards a large and liquid longevity market: A graphical population basis risk metric. Geneva Papers on Risk and Insurance - Issues and Practice, 41(1), 118-127.


Fall 2021
Course Number Course Title
ACT 440 Long-Term Actuarial Math I
MAT 492 Honors Directed Study
ACT 540 Actuarial Mathematics I
ACT 593 Applied Project
Spring 2021
Course Number Course Title
ACT 494 Special Topics
ACT 499 Individualized Instruction
ACT 598 Special Topics
Fall 2020
Course Number Course Title
ACT 585 Advanced Mortality Modeling
Spring 2020
Course Number Course Title
ACT 494 Special Topics
ACT 499 Individualized Instruction
ACT 598 Special Topics
Fall 2019
Course Number Course Title
ACT 585 Advanced Mortality Modeling

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