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Spiderwell Insurance Company reported the following information (in millions) on its accounting statements last year:...

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Accounting

Spiderwell Insurance Company reported the following information (in millions) on its accounting statements last year: Premiums Written=$92 Loss Adjustment Expenses=$4 Underwriting Expenses=$32 Premiums Earned=$95 Incurred Losses=$65 What was Spiderwell's expense ratio (in percent) last year?

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