Acuity announced that Standard & Poor's (S&P) has reaffirmed the insurer’s Financial Strength Rating of A+ and Stable outlook as of August 11, 2020. Acuity also maintains an A+ financial strength rating from A.M. Best, making Acuity the only regional carrier that offers independent agents the financial security of two superior ratings.
“Financial strength is the foundation of growth," said Ben Salzmann, Acuity President and CEO. “Our dual A+ ratings affirm that we have the resources to protect a growing number of individuals, families, and businesses and to provide rewarding jobs for an increasing number of employees throughout our operating region.”
In its rating reaffirmation, S&P noted, “Acuity continues to outperform the industry, with strong underwriting margins and growth outpacing the industry.” Also highlighted were Acuity’s “extremely strong capital capacity with a significant buffer at the ‘AAA’ level” as well as a “strong balance sheet highlighted by no financial leverage and exceptional liquidity.” The stable outlook is based on S&P's evaluation that Acuity will continue to outperform the industry over the next 24 months.
Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures over 100,000 businesses, including 300,000 commercial vehicles, and nearly a half million homes and private passenger autos across 28 states. Rated A+ by A.M. Best and S&P, Acuity employs over 1,400 people.