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AXIS gets $140m Northshore Re II cat bond at reduced pricing

June 23, 2022

Global specialty insurance and reinsurance underwriter AXIS Capital has now secured its latest catastrophe bond at attractive terms, with the upsized $140 million of peak-peril catastrophe reinsurance protection from its new Northshore Re II Ltd. (Series 2022-1) catastrophe bond issuance coming at a reduced pricing level.

AXIS Capital becomes the fourth catastrophe bond sponsor of the last few weeks to secure attractive execution and pricing, as the catastrophe bond market becomes more balanced, in terms of supply and demand, with spread widening slowing or coming to a halt.

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