In a marketplace bustling with new start-ups, pre-empted Lloyd's syndicates and re-capitalised companies, it is hard to believe that as recently as last summer, cycle management was the buzzword for an industry confronting the apparent inevitability of another soft market.The 2004 hurricane season may have provided a temporary reprieve from collapsing rates, but by mid-2005 the challenges of navigating a course through an impending market downturn soon resurfaced as the imperative for 2006.U
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