Acuity Insurance announced that it set new records for business growth across several categories in 2017. Highlighting the insurer’s financial success is a gain of over $62 million in total written premium during the year, bringing its revenue to an all-time high of $1.44 billion as it enters 2018.
“For the past 18 years, Acuity has consistently grown faster than the insurance industry, and this past year is no exception to that trend,” said Acuity President and CEO Ben Salzmann. “Our 2017 growth is more than double what we expected earlier in the year and is particularly remarkable given the challenging industry conditions that have other carriers struggling.”
In 2017, Acuity broke the barrier of 300,000 policies in force for the first time in its 92-year history, reached an all-time high companywide new business written premium, and smashed records in both commercial and personal lines. In commercial lines, Acuity attained new high marks in quotes received, quote hit ratio, new business written premium, new policies issued, and customer retention. In personal lines, the insurer achieved an astounding 21st consecutive year of growth, setting a record for total written premium.
“Acuity’s financial success in 2017 is the result of an outstanding partnership between our independent agency force and dedicated staff and the trust of our mutual customers,” said Wally Waldhart, Vice President - Sales and Communications. “We are thankful to everyone who helped us achieve another record-setting year, and we look forward to continued success in 2018.”
“We see insurance industry conditions for 2018 supporting even more growth for Acuity,” Salzmann added. “For instance, many of our competitors are significantly tightening their appetite in commercial automobile insurance or pulling out of the line altogether. In contrast, we are an active market for commercial auto and anticipate continued long-term profitable growth opportunity in the line.”