Skip to main content

Auction Newsletter No2 for 2019

Mon 21 Oct 2019

Lloyd’s capacity Auctions - Auction Newsletter No2

21 October 2019

Relevant information – Disclosure notification to the Auction Office

The following Disclosure notices have been posted on since Auction Newsletter No1 was published on 14 October 2019.

D2019001 – D2019006

These notices are available in the disclosures section of the capacity auctions website page:

Managing agents are reminded that Auction Rule 20(4) imposes an obligation on managing agents to disclose relevant information promptly to the members of your syndicate. The release of relevant information immediately prior to, or during an auction, could result in a false market and will therefore always be investigated.

Your attention is also drawn to paragraph 9.7 in the Capacity Auctions and Bilateral Arrangements 2019 Explanatory Guide which mentions that “The Auction Office will accept disclosures up to noon on the penultimate working day before an auction starts”.

In addition, disclosures are centrally held on and available to view via the link below. An electronic version of the completed prescribed disclosure template must be sent to the Auction Office via email. A copy of the template is available to download from the website using the link above.

In all cases the completed disclosure template should be sent to the following email address:

Lloyds Auction Office

N.B. The Auction Office is unable to accept disclosures in any form other than that described above.

The Auction Office will arrange for all disclosures to be posted to the designated Capacity Auctions page on the website.

Opening Stakebuilders report

The report shows the percentage of capacity a member holds on a syndicate if 25% or above. Also detailed is the percentage of capacity held by members connected to the syndicate. This report will be updated after each auction and published on with all the auction reports.

Syndicate Constitution files (SC files)

The electronic ‘Syndicate Constitution’ (SC) files will be available for all Managing Agents of unaligned syndicates to download from the Stamp system website ( on the dates specified in the Managing Agent Stamp & Auction timetable.

Notification will be emailed when these files are available. Kindly advise if your contact has changed since last year.

Auction 1 – Reminder – change to bid submission times

Auction 1 will be held on Wednesday 23 October and Thursday 24 October.

The Auction system will be open for bid submission during the following times:

Wednesday (Day 1) from 9am until 2pm

Thursday (Day 2) from 9am until 2pm

Bid Staging & Submission

The auction office will be opening Auction 1 for Issuers to prepare and stage their bids from 10am on Tuesday 22 October ahead of the live auction being opened at 9am on Wednesday.

We would suggest that all Issuers ensure that they can access the system before Tuesday, even if they do not plan to stage any bids in advance. Link to the Auction system:

If you have any problems accessing the system, please contact the auction office as below.

Bids – minimum bid price

Reminder - Auction bids can be made to 2 decimal places and as per the Auction Rules 2019 paragraph 8 (6), the minimum Floor Limit and minimum Subscribers’ Premium is 0.10p per £1 of capacity.

Pre-emptions / De-emptions

To review the agreed syndicate pre-emptions & de-emption for the 2020 year of account please click here

The details given are of confirmed pre-emptions & a de-emption agreed by Lloyd’s Performance Management Directorate.

Please note: this is for information only. The necessary data on confirmed changes has been forwarded electronically by Lloyd’s Member Services to the relevant Members’ Agents to update their systems accordingly.

Auction Office contact details: