For the past calendar year a property insurer reported the
For the past calendar year, a property insurer reported the following financial information for a specific line of insurance:
Premiums written.................. $25,000,000
Expenses incurred.................. 5,000,000
Incurred losses and loss-adjustment expenses...... 14,000,000
Earned premiums ................. 20,000,000
a. What was the insurer's loss ratio for this line of coverage?
b. Calculate the expense ratio for this line of coverage.
c. What was the combined ratio for this line of coverage?

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help