Ernst Filip Oskar Lundberg Swedish actuary, and mathematician. Lundberg is one of the founders of mathematical risk theory and worked as managing director of several insurance companies.
Lundberg in 1926
In actuarial science and applied probability, ruin theory uses mathematical models to describe an insurer's vulnerability to insolvency/ruin. In such models key quantities of interest are the probability of ruin, distribution of surplus immediately prior to ruin and deficit at time of ruin.
A sample path of compound Poisson risk process