Kensington Palace announced at 8.30pm that the baby was delivered at 4.24pm in the exclusive Lindo wing at St Mary's hospital, Paddington, west London. His name will be announced in due course.

The birth of the baby prince means the monarchy has three generations of heirs to the throne for the first time since 1894 and the birth of the future Edward VIII.

The baby is the first Prince of Cambridge to be born for more than 190 years since Prince George of Cambridge, a grandson of George III and the only son of Prince Adolphus Frederick, the 1st Duke of Cambridge. The baby is also the 41st in direct line of descent from Egbert, King of Wessex, who ruled from 802 to 839.

Punters who have had a flutter on the royal name could be waiting a while for the bookies to pay out. William's name was not released for a week, and his father's for a month. The favourites are George or James. Whatever name is chosen, recent precedent indicates it is likely to have royal connections and there should be a vacancy – that is, it should not be in current use by a senior member of the family. There are also predictions that the couple will honour William's father, the Prince of Wales, by choosing Charles and the Duke of Edinburgh by selecting Philip.