Which of the following statements is (are) true regarding investment r

Which of the following statements is (are) true regarding investment returns and the underwriting cycle?

I. Investment returns have no impact upon the underwriting cycle.
II. Investment returns can lengthen the duration of a soft market by offsetting underwriting losses.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: B