Determine the underwriting results for the past year for the following measures:

XYZ Insurance Company has the following year-end financial results:

Written Premiums $95,000,000

Earned 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 i.e. .845 = 84.5%)

Loss Ratio =

Expense Ratio =

Combined Ratio =

Explain what the combined ratio indicated regarding XYZ Insurance Companys use of its premium dollars.