Analysts from KBW see the influx of capital into the casualty reinsurance market through insurance-linked securities structures as negative for reinsurers, while on the property catastrophe side they caution that rate softening often tends to be more pronounced than the headlines from the RVS suggest.
KBW’s analyst team attended the 2026 Monte Carlo Rendez-Vous (RVS) event and came away with “mostly unhappy takeways,” from the point of view of their analysis of the reinsurance sector.
In summary the KBW analysts explained, “Our primary takeaway from this year’s Reinsurance Rendezvous – where we met with 16 companies over two days – is ILS investors’ growing interest in casualty lines, which will probably sustain decelerating casualty (re)insurance rate decreases for several years. Reinsurers also seem broadly resigned to circa-10% property catastrophe reinsurance rate decreases during the upcoming January 1, 2027 renewals, although several executives suggested that bigger rate increases would justify walking away given the implicit rate inadequacy.
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