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Storm Surge

After Hurricane Katrina, hedge funds helped prop up an ailing reinsurance market, generating impressive returns for their investors. This year could prove riskier, thanks to uncertain storm patterns and a new Florida law.

Strategies Reinsurance When Greg Hagood arrived in Bermuda in 1999, most hedge fund managers paid little attention to hurricane warnings unless a storm was bearing down on their vacation homes. For Hagood, 38, weighing the odds of the timing, location and severity of hurricanes and other natural disasters represented an

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