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Rating: 
Summary: Good for those having strong background
Review: This book presents 4 kinds of ruin models: Compound Poisson, Sparre-Anderson, Markovian models (including markovain regime-switching and periodic risk model) and model with premium depending on reserve. It assumes a strong background in matrix, measure theory and stochastic processes like Markov process and renewal theory and is not elementary compared with the books by Hans Gerber or Jan Grandell. The beauty of this book is that the proofs are short and the ideas are very well presented and motivated. Unlike the book "stochastic processes for insurance and finance", which presents much more models and tries to be elementary but makes all the proofs unbearably long and messy (this book has no figure!), the author makes very good use of figures to illustrate excursion, time reversion and phase-type distribution and links many aspects of ruin thoery to queneing theory. The only two problems I found is that the notations used in the book is quite different from other books about risk theory and one of the eleven chapters in the book contains quite a number of typos.
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