11. Determine the underwriting results for the past year on a trade basis for the following measures: XYZ Insurance Company has the following year-end financial results Written Premiums $95,000,000 Eamed Premiums 88,000,000 Underwriting Expense 32,200,000 Incurred Losses and Loss Adjustment Expense 65,750,000 (Show ratios as percentages with one decimal place ie 845 84 5%) Loss Ratio = Expense Ratio = Combined Ratio Explain what the combined ratio indicated regarding XYZ Insurance Company's use of its premium dollars