A property insurer provided the following financial information:

Premiums written$65,000,000

Expenses incurred 9,000,000

Incurred losses & loss-adjustment expenses 39,000,000

Earned Premiums 44,000,000

a-What is the loss ratio?

b-what is the expense ratio?

c-what is the combined ratio?

d- What does it mean for an insurer to have a combined ratio > 1? Why might this be acceptable for a period to an insurer?