Three hurricanes and three wildfires have been sufficient to drive the global reinsurance industry back into its old habits. We’re obsessed with property-catastrophe risk again, watching aggregate industry loss warranty (ILW) trigger points carefully, and talking about reinsurance rate increases. In doing so, we risk losing sight of the major growth opportunities that should be top of mind—and that were much more relevant half a year ago. The Atlantic winds blew in more of the same, and if we aren’t careful, they could cost us years of progress.