Question: 2. Answer the following questions: (2 points each) Define Combined Ratio and Operating Ratio. What is the significance of the Operating Ratio? Define Earned

2. Answer the following questions: (2 points each) Define Combined Ratio and

2. Answer the following questions: (2 points each) Define Combined Ratio and Operating Ratio. What is the significance of the Operating Ratio? Define Earned Surplus. Why is this important to the captive's growth? What is the difference between the Contributed and Earned Surplus? Why is this difference significant to this captive's financial performance?

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