Average Reviews:
(More customer reviews)Culp's Structured Finance & Insurance provides a fantastic integration of insurance with the broader world of the financial services industry. Culp is one of the very best authors in this field and his focus on the economic substance of different transactions (e.g., letters of credit and reinsurance contracts) and securities is one of the book's greatest strengths.
I have now read this book several times and each time I can say that I have come away with both new thoughts about the financial transactions in question and new insight into the relationships across different finanacial instruments and institutions. Further, I have referred to Culp's text many times in my daily work, especially for its ability to clearly relate each transaction to its economic fundamentals.
I found the last section with guest authors to be somewhat uneven in quality, although some of these chapters have proven to be useful in their treatment of such issues as weather derivatives.
Click Here to see more reviews about: Structured Finance and Insurance: The ART of Managing Capital and Risk (Wiley Finance)
Praise for Structured Finance & Insurance"More and more each year, the modern corporation must decide what risks to keep and what risks to shed to remain competitive and to maximize its value for the capital employed. Culp explains the theory and practice of risk transfer through either balance sheet mechanism such as structured finance, derivative transactions, or insurance. Equity is expensive and risk transfer is expensive. As understanding grows, and, as a result, costs continue to fall, ART will continue to replace equity as the means to cushion knowable risks. This book enhances our understanding of ART."--Myron S. Scholes, Frank E. Buck Professor of Finance, Emeritus, Graduate School of Business, Stanford University"A must-read for everyone offering structured finance as a business, and arguably even more valuable to any one expected to pay for such service."--Norbert Johanning, Managing Director, DaimlerChrysler Financial Services"Culp's latest book provides a comprehensive account of the most important financing and risk management innovations in both insurance and capital markets. And it does so by fitting these innovative solutions and products into a single, unified theory of financial markets that integrates the once largely separate disciplines of insurance and risk management with the current theory and practice of corporate finance."--Don Chew, Editor, Journal of Applied Corporate Finance (a Morgan Stanley publication)"This exciting book is a comprehensive read on alternative insurance solutions available to corporations. It focuses on the real benefits, economical and practical, of alternatives such as captives, rent-a-captive, and mutuals. An excellent introduction to the very complex field of alternative risk transfer (ART)."--Paul Wohrmann, PhD, Head of the Center of Excellence ART and member of theExecutive Management of Global Corporate in Europe, Zurich Financial Services"Structured Finance and Insurance transcends Silos to reach the Enterprise Mountaintop. Culp superbly details integrated, captive, multiple triggers and capital market products, and provides the architectural blueprints for enterprise risk innovation."--Paul Wagner, Director, Risk Management, AGL Resources Inc.
No comments:
Post a Comment