Lloyd’s capacity Auctions - Auction Newsletter No2

 

22 October 2018

 

 

Relevant information – Disclosure notification to the Auction Office

 

The following Disclosure notices have been posted on lloyds.com since Auction Newsletter No1 was published on 15 October 2018.

D2018005 – D2018011

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

 http://www.lloyds.com/the-market/business-timetable/capacity-auctions/disclosures

 

 

Syndicate 1884 managed by Charles Taylor Managing Agency Ltd

 

Syndicate 1884 will not participate in any of the auctions in 2018 as Charles Taylor Managing Agency Ltd has informed Lloyd’s of its intention for syndicate 1884 to cease underwriting with effect from 1 January 2019.

 

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 lloyds.com with all the auction reports.

 

Click here to view the opening Stakebuilders report.

 

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 (https://stamp.lloyds.com) 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 2017.

                                   

Auction 1 - Reminder

 

Auction 1 will be held on Wednesday 24 October and Thursday 25 October.

 

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

 

Wednesday (Day 1) from 9am until 1pm

 

Thursday (Day 2) from 10am 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 23 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: https://auction.lloyds.com

 

 

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 2018 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 for the 2019 year of account please click here

 

The details given are of confirmed pre-emptions 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 Market Services to the relevant Members’ Agents to update their systems accordingly.

 

Auction Office contact details:

 

Lloyds-auctionoffice@lloyds.com

 

Sally Dunning 01634 392486 or Claire Sheahan 01634 392904

 

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