Private Capital News
Lloyd’s has this morning (22 January) confirmed the appointment of Patrick Tiernan to the role of Chief of Markets.
The auction to reallocate capacity released by the death of an unlimited member at the end of last year was concluded yesterday. There was a total of 30 successful bids to buy capacity, with average prices well up on those achieved in the three auctions held last autumn. In aggregate, this auction raised a total of £1.65m for the member’s estate. This represents an uplift of 11.3% over the average price of capacity over the three 2020 auctions and of 25.8% over the final auction.
Results were as follows: