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Monday

Lloyd’s of London insurer Hiscox has warned that it could be blown off course in the second half of the year by another torrid hurricane season.

Last year, the industry was hit hard by a record year for natural disasters. Lancashire, a rival, admitted in October that Hurricane Florence and powerful typhoons in the Pacific had cost it tens of millions of pounds.

However, Hiscox insists that it has capitalised on higher rates, which were pushed up by last year’s hurricane season. The jump lifted pre-tax profit by 27pc in the first half of 2018.