Acuity released its 2016 financial results, which detail the insurer’s continued profitability, strength, stability, efficiency, and expanded policyholder base.
Highlighting Acuity’s 2016 performance is a 92.9 combined ratio, nearly eight points better than the insurer’s competitors in the property/casualty industry, marking the sixth consecutive year Acuity has earned a combined ratio of less than 100. Acuity also recorded 12.4 percent surplus growth, compared to just 0.8 percent for the industry, and exceeded competitors in sales growth. For 17 years, Acuity has outperformed industry averages across key areas of measurement.
“Acuity is a source of strength to our policyholders and independent agents because of the year-in, year-out consistency that we achieve,” said Ben Salzmann, Acuity President and CEO.
Acuity showed other areas of continued strength in 2016 as well. Assets under management increased to nearly $4 billion, and policyholders’ surplus increased to over $1.7 billion, an all-time record. Additionally, Acuity maintained a leverage ratio under 1:1 for the eighth consecutive year, finishing 2016 with 0.82:1, the
strongest on record.
In 2016, Acuity also combined financial performance with sales growth that was fueled by a record-high number of customers the company protects. In personal lines, Acuity set a new record of written premium at over $371 million. In commercial lines, the insurer exceeded $1 billion in premium for the first time ever, driven by a record number of quotes received and an all-time high quote success ratio of 41.4 percent.
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