Lloyd’s have announced the results for auction 1 as follows:
Lloyd’s capacity auctions
Auction one results
A total of £54.92 million of market capacity involving 22 syndicates underwriting this year was successfully auctioned at a total value of £14.89 million.
Subscription offers (offers to buy) totalled £154.06 million and tenders (offers to sell) totalled £77.30 million during the auction held 30 September – 1 October.
In addition to the £54.92 million of capacity transferred during the Auction for syndicate capacity for the 2015 underwriting year, an additional amount of £9.08 million capacity involving one syndicate was transferred through one Bilateral Arrangement.
This auction is the first of three auctions being held in September and October.
The six reports issued by Lloyd’s as part of the results announcement, including penny bands and unsatisfied bids reports, can be viewed in this and the accompanying Part II news article over which the reports have been split.