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Last year, XYZ Insurance Company had a combined ratio of 1.04 and was required to...

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Accounting

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Last year, XYZ Insurance Company had a combined ratio of 1.04 and was required to pay income taxes. The best explanation for this is that (chose the answer below) XYZ did not have an underwriting loss XYZ experienced an increased in loss adjustment expenses. XYZ offset its underwriting loss with investment income. XYZ experienced an increased in loss reserves

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