The auction to reallocate capacity released by the death of an unlimited member at the end of last year was concluded yesterday. There was a total of 30 successful bids to buy capacity, with average prices well up on those achieved in the three auctions held last autumn. In aggregate, this auction raised a total of £1.65m for the member’s estate. This represents an uplift of 11.3% over the average price of capacity over the three 2020 auctions and of 25.8% over the final auction. 

Results were as follows:

 

Syndicate Managing Agent Capacity Sold Average Price p/£1   2020 Auctions
Number of successful bids All auction average Auction 3 average
33 Hiscox 515,877 53.35 3 50.88 38.98
386 QBE 97,972 79.00 1 73.78 72.71
510 TMK 650,000 20.36 3 16.69 10.83
557 TMK 74,913 1.35 4 0.45 0.11
609 Atrium 522,821 65.25 2 59.56 53.86
623 Beazley 730,000 62.62 3 53.87 45.00
727 Meacock 150,689 85.04 3 75.60 70.46
1176 Chaucer 96,706 210.46 2 196.80 200.38
2010 Lancashire 101,518 11.00 1 2.45 0.14
2791 MAP 245,412 87.62 8 81.30 86.02