A property–casualty insurer brings in $6.55 million in premiums on its homeowners MP line of insurance. The line’s losses amount to $4.898 million, expenses are $1.74 million, and dividends are $110,000. The insurer earns $208,000 in the investment of its premiums. Calculate the line’s loss ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

A property–casualty insurer brings in $6.55 million in premiums on its homeowners MP line of insurance. The line’s losses amount to $4.898 million, expenses are $1.74 million, and dividends are $110,000. The insurer earns $208,000 in the investment of its premiums. Calculate the line’s loss ratio. (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 9PB: Pickles R Us is a pickle farm located in the Northeast. The following transactions take place: A. On...

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