Insurance: From Underwriting to Derivatives: Asset Liability Management in Insurance Companies 1st Edition

As a non insurance specialist, I was curious what the authors have to write about the convergence between the insurance industry and the capital markets. In particular the aspect of derivatives, since I'm in Equity Derivatives. The authors cover nicely the rapid change the insurance industry has faced the last couple of years. Show risk, opportunity, and support many arguments with mathematical models. Even though the authors have an outstanding academic record, the book is aktually fun reading (no boring academic book). References to other articles are extensive and the ALM Survival Toolkit in the Appendix is very well done. Here are the chapters:1 The Basics of Property-Casualty Insurance2 Securitizing Insurance Risks3 Life Insurance in the United States: History of a crisis4 ALM in Insurance: An Empirical Wander Around Europe5 Life Insurance Pricing and the Measurement of the Duration and Liabilities6 A Functional Approach to the Insurance Industry7 Conclusion and Future ChallengesAppendix: The ALM Survival ToolkitMr Briys & Mr de Varenne have confirmend that the French are world-class in derivatives. Bravo!