The reinsurer adjusted the pricing guidance for the $75mn cat bond earlier this week from 10% to 9.5%-10%.
Taking the expected loss of 1.97%, it provides a multiplier of 4.9x.
The Long Walk Re bond will cover systemic cyber events on a per-occurrence basis for 24 months, starting next year.
Axis has set an attachment level of $510mn for the bond, with an exhaustion point of $650mn.
The bond is expected to close on 28 November. The sole structuring agent and bookrunner is Aon Securities.
