REG - Lloyds Of London - Lloyd’s 2024 Capacity Auction 1 Results

Lloyds BankingAnnouncement

19/10/2023 18:00

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RNS Number : 7220Q  Lloyds Of London  19 October 2023

 

Lloyd's 2024 Capacity Auction 1 Results

 

Lloyd's, the world's specialist insurance market, today announces the result
of the first auction of syndicate capacity for the 2024 underwriting year.  A
total of £92.25 million of market capacity involving 17 syndicates
underwriting this year was successfully auctioned at a total value of £38.22
million.

Subscription offers (offers to buy) totalled £734.12 million and tenders
(offers to sell) totalled £98.91 million during the auction held on 18 &
19 October.  A summary of results is detailed below.

 Syndicate    Premium (p)   Allocated (£)        Value (£)
 0033       72.106          3,625,747                  2,614,375
 0218       1.924           3,651,637                  70,275
 0318       5.609           342,574                    19,215
 0386       80.780          1,889,612                  1,526,425
 0510       39.105          8,782,563                  3,434,416
 0609       63.841          7,198,380                  4,595,502
 0623       40.000          35,451,578                 14,180,631
 0727       91.893          972,198                    893,379
 1176       232.487         157,798                    366,860
 1969       15.363          418,043                    64,222
 2010       22.500          11,088,386                 2,494,887
 2121       2.792           2,438,667                  68,079
 2525       104.405         1,093,712                  1,141,892
 2689       0.832           2,191,499                  18,233
 2791       69.415          9,251,749                  6,422,147
 4444       10.800          501,719                    54,186
 5886       8.050           3,191,969                  256,940

 

This auction is the first of three auctions being held in October/November
2023.

-ENDS-

 

Notes to Editors:

Enquiries to:
Lloyd's Press Office
Tel: +44 (0) 20 7327 5111 Email: pressoffice@lloyds.com
(mailto:pressoffice@lloyds.com)

About Lloyd's :

Lloyd's is the world's leading marketplace for insurance and reinsurance.
Through the collective intelligence and expertise of the market's underwriters
and brokers, we're sharing risk to create a braver world.

 

The Lloyd's market offers the resources, capability and insight to develop new
and innovative products for customers in any industry, on any scale, in more
than 200 territories.

 

We're made up of more than 50 leading insurance companies, over 380 registered
Lloyd's brokers and a global network of over 4,000 local coverholders. Behind
the Lloyd's market is the Corporation: an independent organisation and
regulator working to maintain the market's successful reputation and
operation.

 

We're working to build solutions for the most current and prevalent threats.
As Chair of the Insurance Task Force for HRH The Prince of Wales's Sustainable
Markets Initiative, Lloyd's is bringing the industry together to insure the
transition to net zero. Our research community is pooling expertise from
across the industry to provide cutting edge insight on systemic risks from
climate change to cyber security.

 

And through our digital-led strategy, The Future at Lloyd's, we're making it
easier and cheaper to place, price and process cover in the Lloyd's market.

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