This week, Marsh and TheCityUK published a report headed "Cyber and the City" and warned that more has to be done by the insurance industry.

Barring an almighty bust-up at the Republication Convention, Trump v Clinton will be the battleground in the US Presidential election this November.

This week, first quarter results were dominated by majors: Allianz, Generali, Zurich and Berkshire Hathaway, just to name a few.

The global high-yield default rate will rise to reach 5% in November this year, according to Moody’s Investors Service forecasts.

Italian insurer Generali blamed “poor financial market conditions” for a 6.9% Q1 fall in new life business, year on year, to €1.3bn (£1bn, $1.5bn).

Zurich Insurance Group reported a drop in net profits for the first quarter, after operating profits fell 23% in general insurance and a marginal decrease in the company’s Global Life business.