Prices up again in final auction

The last of this year’s series of three capacity auctions concluded today. A further £21.6m of capacity was traded across all of the 17 syndicates with tradeable capacity rights. Prices continue to edge up, and the index of all capacity owned by individual members of Lloyd’s was over 50p/£1 of capacity for the first time. The nuclear Syndicate 1176 was in its usual position as the most expensive of all, with an average price in excess of £2.50 per £1 of underwriting capacity, although Argenta Syndicate 2121 was the most heavily traded, with more than £5m changing hands at the high price for the syndicate this year. A total of £138m was traded across the three auctions this year, down on the eighteen year high of £254m traded in 2022.  

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