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An insurer has a combined ratio=103%, an investment profit (or income) ratio of 5%, and an expense ratio of 20%. Its operating ratio is Less

An insurer has a combined ratio=103%, an investment profit (or income) ratio of 5%, and an expense ratio of 20%. Its operating ratio is Less than 91% Greater than 91% but less than 96% Greater than 96% but less than 100% Greater than 100%

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