Prices down as £45m traded in Auction Two

The second of the three capacity auctions was completed on Wednesday 30^th October. A total of £45.4m of capacity was traded across 19 syndicates, bringing the total capacity reallocated at auction this year to £124.8m. The overall volume is down on 2023, with £170m traded in the first two auctions last year. Prices were down for a number of key syndicates; the most notable being Beazley syndicate 623, which traded at 25.8p down from 51.5p in auction one. Hiscox 33 was down 5.5%, Atrium 609 down 23.9% and QBE 386 down 10.8%. Lancashire syndicate 2010 was the most heavily traded, with the parent company’s aligned vehicle increasing its prices from auction one’s 28p to 30p in a move which secured more than £10m of capacity.

The third and final of this year’s auctions will be held on Tuesday 5^th and Wednesday 6^th November.

The schedule of results is available here.