If the number is below 100%, the company is making an underwriting profit (investment income isn't counted here).

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While insurance companies hold this money, they often invest it and assuming they are earning an underwriting profit, they are essentially holding this money for free or being paid to hold this money.

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Contrast Berkshire Hathaway, which has turned a profit on its underwriting in each of the past five years.

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Major profit centers like underwriting and investment banking remain at low ebb and trading is problematic in a shaky market setting.

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Profit centers like trading, underwriting and investment banking gather momentum.

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