We have been advised of the deaths late last year of three unlimited members. As these all occurred after the auctions, the estates are permitted to hold an auction of the evergreen capacity rights owned by the members.

This will be a blind auction (i.e. no interim information will be published) to be held on Thursday 5th January and Friday 6th January 2023. No bids will be accepted after 12 noon (London time) on Friday 6th January. Payment for any successful bid must be made by Wednesday 12th January.

If you would like to participate in this auction, please speak to your usual contact at Argenta in the first instance. Please note, any bids are for individual syndicates and not for the entire portfolio. Also, there is no requirement to bid for the entire capacity released on any one syndicate. The following capacity is available. We have included average strike prices for each of the syndicates from last year’s auctions, including the all-auction weighted average, to assist with pricing.
 

     

Average prices 2022 auctions (p/£1)

Syndicate

Managing Agent

Capacity

Auction One

Auction Two

Auction Three

Weighted Average

33

Hiscox

212,224

63.69

67.10

56.04

63.56

218

IQUW

132,168

0.30

0.18

0.20

0.23

318

Cincinnati

45,304

1.27

1.40

0.76

1.26

386

QBE

74,408

85.34

91.88

85.00

87.29

510

TMK

304,308

33.44

33.16

32.96

33.35

609

Atrium

277,787

60.97

43.81

44.08

53.79

623

Beazley

457,307

34.94

27.18

27.38

32.11

727

Meacock

53,432

94.99

98.88

98.73

97.50

2010

Lancashire

67,607

12.60

12.81

12.62

12.65

2525

Asta (Ive)

59,516

91.57

102.33

105.03

96.99

2689

Asta (HRP)

33,332

0.24

0.13

0.10

0.14

2791

MAP

176,102

84.39

73.99

66.96

77.40

5886

Blenheim

88,335

7.49

3.70

5.37

5.65