Get correct solution for this accounting question please do fast A property-casualty insurer brings in $6.15 Million inpremiums onto its homeowners MP line of insurance.The line's losses amount at $4,212,750, expenses are$1,506,750, and dividends are $92,250. The insurerearns $153,750 in the investment of its premiums.Calculate the line's operating ratio.

Step 1: Define Operating ratioOperating ratio is the difference between combined ratio and…

Answered: A property-casualty insurer brings in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A property-casualty insurer brings in $6.15 Million in premiums onto its homeowners MP line of insurance. The line's losses amount at $4,212,750, expenses are $1,506,750, and dividends are $92,250. The insurer earns $153,750 in the investment of its premiums. Calculate the line's operating ratio.