Lloyd’s slates 2023 capacity auctions starting mid-October

Lloyd's will run its annual session of capacity auctions with a standard three rounds of sales on 2024 capacity running mid-October to early November.

The first round kicks off Wednesday-Thursday October 18-19. Issuers, be they member agents, corporate members or managing agents, will have to have registered to participate by Friday, September 29.

Rounds two and three follow exactly one and two weeks later. Trading of capacity between the rounds is generally not permitted.

Managing agents were warned on rules for full disclosure of market-sensitive information ahead of bid and offer deadlines.

The late 2023 auctions cover only capacity for the 2024 year of account. Prior years of account are not affected.

In 2022, turnover of £74.2 million over the full three rounds was up 61.5% from the prior year auction on a 58.5% increase in sold capacity to £254.57 million.

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