Opinion: Long live reinsurance?

It doesn't seem that long ago that the industry was calling
time on the reinsurance market as a credible source of income.
With property catastrophe rates having plummeted to near-record
lows and a glut of excess capacity frustrating any attempts at
hardening, reinsurance executives conceded the good times were
over, and set about battening down the hatches for a period of
ultra-low returns.
Capital redeployment went into full swing and diversification
strategies were rolled out.
The insurance m