Last year, XYZ Insurance Company had a combined ratio of 102.4 and lost $10.2 million on the insurance that it sold
The company, however, was required to pay income taxes. The best explanation for this apparent contradiction is that XYZ offset its underwriting loss with
A) increased loss reserves.
B) investment income.
C) increased loss adjustment expenses.
D) unearned premiums.
Answer: B
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a. True b. False
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a. True b. False Indicate whether the statement is true or false
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