I'm going to bet on the 1.64-1.69 range. Cat losses are minimal and they've still been successful in pumping rate across all segments at a level above that of the previous quarter. New biz isn't really an issue, so I would expect both premiums and +rate to show through in the numbers, and for their combined ratio to be favorable and in the 0.88-0.93 range. The market is firming but it's not a raging hard market like in years past (yet), so I think this one will have room to run as the year progresses and barring any huge distaster. The only question in my mind that will be interesting to see is how their investments have fared as they've typically been more conservative in that area. With the bond market being what it is, it might have impacted them negatively, though the positives described above should more than outweigh this minor detail.
I rode this one from $58-$86, hopped off before the drawback, and got back in for at least a miminimal gain so far. We'll find out tomorrow if I'm right.