Berenberg analysts said discussions at the 2026 Monte Carlo Rendez-Vous de Septembre (RVS) pointed to the first signals of some degree of flexibility on terms and conditions (T&Cs) coming to the market.
Berenberg attended the annual Monte Carlo RVS, which took place from 5–9 September 2026, speaking with representatives of Hannover Re, Hiscox, Munich Re, SCOR, Swiss Re, UNIQA and Howden Insurance.
Analysts stated that signs of flexibility around terms and conditions are becoming more evident.
“The reinsurers we met signalled a very limited appetite for loss-frequency covers, while brokers are keener to get wider covers for their customers,” said Berenberg.
“Reinsurers expect their underwriters to be selective in deploying this traditional capacity, focusing on clients with which they have long-term relationships, while continuing to offer solutions to clients through alternative and structured solutions.
“This relative trade-off on terms and conditions is arguably sending the first signals of some degree of flexibility coming to the market.”
However, Berenberg noted that there seems to be an overall preference among reinsurers to give up pricing rather than loosen up terms and conditions.
