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The ABC Mutual Insurance Company has incurred property and casualty losses of $245,000,000 and loss...

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Finance

The ABC Mutual Insurance Company has incurred property and casualty losses of $245,000,000 and loss adjustment expenses of $15,000,000 in 2019. During this same period, they have earned $275,000,000 in premiums. Mary, their CFO, has to present at the company's annual policy holder's meeting and she knows that they are especially interested in ABC's Loss Ratio. What is the Company's loss ratio for 2019 calculated to the nearest 10th of a percent?

94.5%

83.6%

100.1%

None of the above are correct

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