Hedge funds are not permitted to invest in or engage in convertible bonds only two of the other specific choices distressed firms currency speculation none of the other choices are correct An insurance company's net profit to policyholders' surplus ratio is the net underwriting margin net rate of retum gross rate of retum liquidity ratio profitability ratio Over the life insurance industry, the largest source of life insurance company net premiums results from health insurance premiums. annuity plan premiums. life insurance premiums. liability insurance premiums. investment income