Kate Lyons was working as a reinsurance broker at Aon Benfield in London when hurricanes Katrina, Rita and Wilma ripped through North America in 2005.

‘There was a lot of activity around helping the US market to buy extra cover,’ she says.

‘Then came the question of how three Category 5 hurricanes in one season would affect pricing tools and models, and the way reinsurers think about climate change.

‘I expected to see a great deal of action and progress but, in the end, surprisingly little changed.’

Four years later, she returned to Australia to work in actuarial pricing and valuations for the Lloyds syndicate, Catlin.

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