"We remain bullish on the cat risk pipeline remaining robust," says Judith Klugman, a managing director responsible for sales and marketing of insurance-linked securities and asset-backed securities at Swiss Re in New York. "Hedge funds are now a very active participant. They are fully committed and we expect them to participate for the long term."
Estimates of insured losses arising from Hurricane Katrina – which hit the Gulf Coast on August 29 – have ranged from $25 billion–60 billion. The