Lloyd’s has released the results for the final capacity auction. A total of £19.8m of capacity was traded on 19 syndicates for an average subscription price of 35.4p. MAP Syndicate 2791 was the most heavily traded syndicate, with a total capacity of £4.4m changing hands.

The Argenta All Capacity Index was up by 4% to 38.4p for this auction with a weighted average of 35.7p for all three of this year’s auction. In 2017, the average value of members capacity was 25.4p. This index gives a more representative indication of price movements as it considers all capacity owned by third party members, and is not weighted by the capacity that is traded in a single auction.

In aggregate, less than £120m of capacity was traded this year, down more than one third on the £181m traded in 2017.  

The full results can be found here.