Combined ratio

{
  "id": "MLC-T-INS-000823",
  "term": "Combined ratio",
  "field": "Insurance and risk management",
  "definition": "A key measure of an insurer's underwriting profitability, calculated by adding the loss ratio and the expense ratio. The loss ratio represents incurred losses and loss adjustment expenses as a percentage of earned premiums, while the expense ratio reflects underwriting expenses as a percentage of written premiums. A combined ratio below 100% indicates an underwriting profit, while a ratio above 100% signifies an underwriting loss.",
  "url": "https://mlchart.com/terminology/insurance/combined-ratio/"
}