Structured Finance And Insurance: The ART Of Managing Capital And Risk
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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.

Hardcover: 912 pages

Publisher: Wiley; 2nd edition (January 23, 2006)

Language: English

ISBN-10: 0471706310

ISBN-13: 978-0471706311

Product Dimensions: 6.4 x 1.9 x 9.1 inches

Shipping Weight: 2.8 pounds (View shipping rates and policies)

Average Customer Review: 4.4 out of 5 stars  See all reviews (5 customer reviews)

Best Sellers Rank: #639,427 in Books (See Top 100 in Books) #120 in Books > Business & Money > Insurance > Business #198 in Books > Business & Money > Insurance > Risk Management #910 in Books > Textbooks > Business & Finance > Finance

This book provides a great details and knowledges about structured finance. If you are interested in the overall depth understanding about this area, this book is a good buy.

It is a good textbook for a course taught at very few places. Decent academic background is provided. The students will be able to use some of the stuff if they get jobs in the field. Overly academic to my taste. Probably appropriate for a textbook.

I ordered this book for a graduate course I am taking. The book seems really great if you're in the industry. However, I am just getting into the risk management field and for someone like me, it's a little hard to follow this book sometimes without prior finance knowledge. It seems more geared toward CEO's or CFO's. So depending who you are, you will get different things out of it. If you're a professional, you'll probably benefit the most out of it, I would think. Even as a finance student, it's informative; just keep investopedia and a dictionary close by.

This is a very comprehensive textbook on a very interesting subject. Author can be ridiculously long-winded at times but the content is covered in great detail.

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.

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