1. measures his sales and the During the next es and marketing manager for illwright Insurance C retention ratio. At the end of 2016, Millwright had O,.stin policies and etention satisfaction by the lapse (i.e., cancellation) ratio licies on the books. During the ention ratio tment and cur Mtillwright Insurance Company (Millwright). year (2017), they renewed 5,142 of these existi : 12 total policies lapsed in 2017. What are Millwright's lapse wrote 2,000 ratios? 2. At year-end, a income ratio of roperty casualty insurer had a combined ratio of 11 1.8%, and an investment ear? come ratio of 10.2%. What is the insurer's overall operating ratio for the y ABC Insurance Company's $1,800,000. Losses total $1,000,000, and loss adjustment expense $75.000. T underwriting expenses are $200,000 and acquisition expen5.00 investment income of $70,000 and investment expenses ofS written premiums are $2.000,000 and its earned premiums are quisition expenses are $75,000. The company has 23,000. 3. What is ABC's loss ratio? 4. What is ABC's expense ratio? 5. What is ABC's combined ratio? 6. What is the investment income ratio? 7. What is the overall operating ratio? Company's written premiums are $4,000,000. Assume that all policies were 1/2017 and expire 1/1/2018. What are ABC's earned premiums as of 9/1/20172 rance 8. ABC Insur