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An insurance company had a combined ratio of 1.2 in the previous year. Did the insurance company underwriting activities made a profit or had a

An insurance company had a combined ratio of 1.2 in the previous year. Did the insurance company underwriting activities made a profit or had a loss in the previous year? Based on this information alone, are you able to conclude whether the insurance company had an overall net profit or a net loss in the previous year?

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