Auction Two Results

The second of three capacity auctions completed today. Volumes of capacity were much reduced from Auction One, with just £24m changing hands this week, compared to £92m a week ago. Prices rose sharply, the average price paid increased from 41.4p to 50.5p. The more meaningful index of all capacity weighted by individual members’ holdings increased by 14% from 43.1p to 49.2p. Amongst several dramatic increases in price were TMK Syndicate 510 up 20%, Beazley 623 up 54%, Apollo Syndicate 1969 up 42%, Lancashire 2010 up 26%, and Blenheim Syndicate 5886 up more than 100%. Only QBE 386 (by 7%) and IQUW 218 (by 29%) traded lower this week than last. Aligned buyers were much less in evidence, with Canopius being the only successful buyer of managed capacity.

The last of the year’s three auctions is held next week, on Wednesday 1^st and Thursday 2^nd November. 

The schedule of results is available here.