The results of the Auction Two have been released by Lloyd’s with a further £58m of capacity traded on 19 syndicates. Pricing, by reference to the index of all third party capacity, was up slightly. The average member’s capacity is now worth 26.0p, up 5% on the Auction One held last week. Demand for capacity continued to be strong, with more than £5 of capacity bidding for every £1 that was tendered. Total subscriptions (bids to buy capacity) were £542m. Total tenders (offers to sell capacity) were £107m.

The syndicate results can be found here. We will comment further on these results in our next Auction Bulletin.

The final auction of a pivotal auction period will be held on Tuesday and Wednesday of next week (14 and 15 November)