Alternative Risk Transfer: Integrated Risk Management through Insurance, Reinsurance, and the Capital Markets (The Wiley Finance Series) [Hardcover]

Erik Banks (Author)

Book Description

Series: The Wiley Finance Series | Publication Date: March 22, 2004

A practical approach to ART-an alternative method by which companies take on various types of risk
This comprehensive book shows readers what ART is, how it can be used to mitigate risk, and how certain instruments/structures associated with ART should be implemented. Through numerous examples and case studies, readers will learn what actually works and what doesn't when using this technique.
Erik Banks (CT) joined XL Capital's weather/energy risk management subsidiary, Element Re, as a Partner and Chief Risk Officer in 2001.

Editorial Reviews

From the Back Cover

The Alternative Risk Transfer (ART) market has expanded in recent years to become a vital source of risk solutions and risk capacity and an important mechanism for the creation of integrated corporate risk management programs. 

The ART market unites the risk management and product development skills of financial institutions, insurers and reinsurers with the capital of global investors to give corporate risk managers the best possible means of managing financial and operating risks. In a time when natural and man-made disasters and financial volatility are constantly present, the need for dependable, equitably priced risk capacity and innovative, holistic risk solutions has never been greater. The ART market, which can supply both, is thus becoming an integral component of the 21st century financial markets.

Alternative Risk Transfer, written by a veteran of the banking and insurance industries, provides a practical, detailed and up-to-date review of the topic. The text is divided into four parts, including

• Risk and the ART market 
•  Insurance and Reinsurance
• Capital Markets
• Enterprise Risk Management and the Future of ART

The book contains numerous worked examples and case studies to place the subject in a practical light, and is ideal reading for CFOs, corporate risk managers, treasurers, institutional investors and fund managers seeking to understand the ART market.

About the Author

ERIK BANKS has held senior risk management positions at several global financial institutions, including XL Capital, where he was Partner and Chief Risk Officer of the Bermuda reinsurer's derivative subsidiary, and Merrill Lynch, where he spent 13 years managing credit and market risk teams in Tokyo, Hong Kong, London and New York. Mr. Banks has written various books on risk management, emerging markets, derivatives, merchant banking, and electronic finance. 

Product Details

• Hardcover: 238 pages
• Publisher: Wiley; 1 edition (March 22, 2004)
• Language: English
• ISBN-10: 0470857455
• ISBN-13: 978-0470857458
• Product Dimensions: 9.8 x 7 x 0.7 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 4.5 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #1,092,590 in Books (See Top 100 in Books)

More About the Author

Erik Banks is the author of more than 20 books on risk, catastrophe, derivatives, emerging markets, and Wall Street. He has spent 25 years as an international banker, working at major financial institutions in New York, London, Tokyo, Hong Kong and Munich; he has also worked in the hedge fund sector and has taught at the University level.

Customer Reviews

Most Helpful Customer Reviews

4.0 out of 5 stars Simple but comprehensive, March 19, 2007

By 

Audrius Linartas - See all my reviews
(REAL NAME)   

This review is from: Alternative Risk Transfer: Integrated Risk Management through Insurance, Reinsurance, and the Capital Markets (The Wiley Finance Series) (Hardcover)

The book seems to be easy to read, but still quite comprehensive. The new tendencies of ART solutions are good captured and described in a well understandible manner. Good book for everyone who wants to know main features of ART market without getting himself lost in small mathematical details

2 of 4 people found the following review helpful:

5.0 out of 5 stars Highly Recommended!, October 25, 2004

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: Alternative Risk Transfer: Integrated Risk Management through Insurance, Reinsurance, and the Capital Markets (The Wiley Finance Series) (Hardcover)

In this excellent introduction to risk management, author Erik Banks offers a lucid, clearly written and well-organized overview. He tells readers what risk management is, why it is necessary, how it works and how companies can carry it out most prudently and cost-effectively. He manages to convey the essential information about insurance and reinsurance, the use of capital markets and derivatives, and the application of enterprise risk management concisely. This is a remarkable achievement. Most books on insurance bog down in jargon and details, while most books on derivatives are unnecessarily complicated and dense. This one - offered by the Wiley Finance Series - is neither. Although not exactly beach reading, it's about as accessible as any book on this subject could possibly be. We recommend it highly to executives and investors.