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Given the following financial data, calculate the insurer's premium-to-surplus ratio. Written premium Cash and invested assets Earned premium Unearned premium reserve Net income Loss and loss expense incurred Underwriting expense incurred Investment Income ilable $5,000,000 $4,500,000 $100,000 $4,700,000 $1,500,000 $2,000,000 Reinsurance recoverables Losses and loss adjustment expense payable Provision for Reinsurance Surplus $6,000,000 $3,000,000 $500,000 $1,000,000 $2,000,000 $6,000,000

Given the following financial data, calculate the insurer's premium-to-surplus ratio. Written premium Cash and invested assets Earned premium Unearned premium reserve Net income Loss and loss expense incurred Underwriting expense incurred Investment Income ilable $5,000,000 $4,500,000 $100,000 $4,700,000 $1,500,000 $2,000,000 Reinsurance recoverables Losses and loss adjustment expense payable Provision for Reinsurance Surplus $6,000,000 $3,000,000 $500,000 $1,000,000 $2,000,000 $6,000,000

FINANCIAL ACCOUNTING
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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Given the following financial data, calculate the insurer's premium-to-surplus ratio. Written premium Cash and invested assets Earned premium Unearned premium reserve Net income Loss and loss expense incurred Underwriting expense incurred Investment Income Available answer options Select only one option A 0.41 B 0.50 с 0.75 D 0.83 $5,000,000 $4,500,000 $100,000 $4,700,000 $1,500,000 $2,000,000 Reinsurance recoverables Losses and loss adjustment expense payable Provision for Reinsurance Surplus $6,000,000 $3,000,000 $500,000 $1,000,000 $2,000,000 $6,000,000
Transcribed Image Text:Given the following financial data, calculate the insurer's premium-to-surplus ratio. Written premium Cash and invested assets Earned premium Unearned premium reserve Net income Loss and loss expense incurred Underwriting expense incurred Investment Income Available answer options Select only one option A 0.41 B 0.50 с 0.75 D 0.83 $5,000,000 $4,500,000 $100,000 $4,700,000 $1,500,000 $2,000,000 Reinsurance recoverables Losses and loss adjustment expense payable Provision for Reinsurance Surplus $6,000,000 $3,000,000 $500,000 $1,000,000 $2,000,000 $6,000,000
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