In industry news:

The U.S. property/casualty insurance industry saw its combined ratio improve by nearly five points in the 2018 first quarter and net underwriting income grow at a healthy clip, A.M. Best said in a special report. A combined ratio of 94.8 for the quarter was 4.9 points better than the same period a year ago and the lowest quarterly combined ratio of the last five years, according to the report.

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