Axis Northshore Re II cat bond targets $250mn

Axis Capital is seeking $250mn from a second cat bond, Northshore
Re II 2017-1, which will cover a number of its subsidiaries,
Trading Risk understands.
Northshore Re II will provide per-occurrence cover against US
wind and quake perils for Axis Re, Axis Insurance and Axis
Specialty.
It will trigger on province-weighted insured industry loss data
that uses loss estimates from Property Claim Services (PCS).
Axis Capital is offering an initial spread guidance of 750 to
850 basis points (bps) for..