Question $9$

Milwaukee Specialty Insurance Company has had a very bad financial

year. There were many icy days in Milwaukee this winter, and the

company has had to pay more claims than usual. Given the following

data, please calculate the combined ratio for MSIC:

Earned premiums: $$122$ million

Incurred Losses: $$130$ million

Investment Income: $$4$ million

Incurred Expenses: $$25$ million