Lloyd's has announced the result of the fifth auction of syndicate capacity for the 2001 underwriting year. A total of £198.5m of market capacity, involving 56 syndicates underwriting this year was auctioned for a total of £9.12m. Offers to buy totalled £441.8m and offers to sell totalled £431.7m during the auction, which was held on September 19 and 20. The last auction in the series will be held next month.