Cat market needs greater funding than before

Of all the non-life sectors, catastrophe reinsurance has probably had most to digest from the events of the past 18 months. Thankfully the industry was spared a true mega-cat, Hurricane Ike notwithstanding, as the financial markets entered freefall and then seized up completely, but the capital-intensive nature of catastrophe reinsurance highlights the particular vulnerability of that sector of the wider market.