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Auction Newsletter No9 for 2015

Fri 06 Nov 2015

Lloyd’s Capacity Auctions

Auction Newsletter No 9

Transactions permitted in the fourth auction under Auction Rule 4

It has been agreed by the Auction Official that transactions will be permitted in the fourth auction in capacity on syndicate 779 following the proposed re-submission of the syndicate business plan by ANV Syndicates Limited.

Tender and Subscription Orders

Members and prospective members of syndicate 779 are permitted to tender any or all of their capacity on this syndicates in the fourth auction.

Auction Rules 7(4)(b) and (c) generally prohibit members from tendering and subscribing for capacity on the same syndicate in the same year.  In the context of any proposed transaction for permitted syndicates in the fourth auction, members, their advisers and issuers are reminded that such prohibition will not apply.

Peter Spires

Head of Legal & Compliance
and Auction Official
06 November 2015

+44 (0)20 7327 6170