Auction One Results
Lloyd’s has released the results of the first of this year’s auctions. A total of £31.6m of capacity on 21 syndicates was traded for a total consideration of £7.2m. There were £215m of bids to buy capacity, but only £40m of capacity tendered for sale, with prices up on both last year’s average and the final and most expensive auction last year. At 34.7p per £1 of capacity, Argenta’s index of weighted average capacity prices rose by 28% over last year’s average and by 14% over the final auction.
Full comment will follow in the first of our Auction Bulletins. The full results can be found here