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Syndicate Management
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About Us
Syndicate Management
Investing at Lloyd's
tax-corporate-services
News
We have been advised of the death late last year of an unlimited member. As this occurred after the auctions, the estate is permitted to hold an auction of the evergreen capacity rights owned by the member.
This will be a blind auction (i.e. no interim information will be published) to be held on Thursday 4th January and Friday 5th January 2024. No bids will be accepted after 12 noon (London time) on Friday 5th January. The auction results will be determined by timing and price received. Payment for any successful bid must be made by Thursday 11th January.
If you would like to participate in this auction, please speak to your usual contact at Argenta in the first instance. Please note that 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 2023 auctions (p/£1) | ||||||
| Syndicate | Managing Agent | Capacity | Auction One | Auction Two | Auction Three | Weighted average |
| 33 | Hiscox | 150,000 | 72.11 | 79.52 | 82.64 | 76.56 |
| 510 | TMK | 150,000 | 39.10 | 45.30 | 50.00 | 42.55 |
| 609 | Atrium | 250,000 | 63.84 | 66.56 | 67.32 | 65.21 |
| 623 | Beazley | 200,000 | 40.00 | 55.35 | 61.23 | 42.96 |
| 2791 | MAP | 250,000 | 69.42 | 75.66 | 78.74 | 71.80 |
Any offer to buy capacity will be considered binding on the member and any bids will be subject to the usual requirements for Argenta members. The auction rule relating to the trading of capacity applies, so no bids to buy capacity will be accepted from any member who sold capacity on that syndicate during the main series of auctions in October and November 2023.