Mark Azzopardi, Head of insurance and pensions, BNP Paribas
The catastrophe bond market has stood firm in the face of the past two hurricane seasons. The market will pay its losses on the Kamp Re deal and has responded by increasing its capacity rather than by withdrawing it. It may struggle to cope with increases in peak peril capacity, but it has done well to accommodate the amount of additional risk that it has seen since the 2005 hurricane season.
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