We have been informed that two unlimited members have died since the end of the auctions, and that their capacity will be sold by private auction in the first week of January 2019, with final bids to be received no later than Monday 7 January at 2pm.

In total, there is slightly less than £600,000 of evergreen capacity available on 14 syndicates.

Members who would like to increase their underwriting capacity for the 2019 year of account are invited to bid for the capacity. Members bidding must have sufficient margin within their funds at Lloyd’s to accommodate any additional capacity acquired.

Capacity available is as follows:

 

Syndicate

Managing Agent

Deceased Member 1

Deceased Member 2

Total

Weighted Average Price 2018 P/£1

33

Hiscox

68,651

16,521

85,172

56.53

218

ERS

770

15,000

15,770

0.26

386

QBE

5,072

 

5,072

60.61

510

TMK

60,286

49,319

109,605

20.09

557

TMK

 

5,000

5,000

0.21

609

Atrium

81,064

43,705

124,769

60.80

623

Beazley

61,225

 

61,225

65.05

727

Meacock

24,573

 

24,573

74.01

1176

Chaucer

191

 

191

182.53

2010

Cathedral

31,069

 

31,069

12.72

2525

Asta (Dale)

 

18,120

18,120

41.29

2689

Asta (Verto)

20,000

15,000

35,000

0.15

2791

MAP

40,712

26,328

67,040

64.96

5886

Asta (Blenheim)

15,218

 

15,218

7.81

Totals

408,831

188,993

597,824

 

As the estate of any unlimited member is able to sell capacity via private auction should the members die in the weeks between the annual capacity auctions and the end of the year, it is of course possible that further capacity will be released before the end of the year.

Any member who would like to bid for this capacity is invited in the first instance to speak to his usual contact at Argenta Private Capital Limited.