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Acuity Shows Continued Strength in 2019 Financial Results
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February 10, 2020

Acuity released its 2019 financial results, which showed that the insurer set new records across key areas of measurement while exceeding the industry’s performance in those areas.

 

Highlighting Acuity’s 2019 performance is a 95.2 combined ratio, nearly four percentage points better than the insurer’s competitors in the property/casualty industry. This marks the ninth consecutive year Acuity has earned an underwriting profit.

 

Acuity showed strength and growth in many other areas in 2019 as well. The company continued to add to policyholders’ surplus—essential for fulfilling its promise of financial protection to customers—ending the year at a record $2.466 billion (GAAP). Assets surpassed $5 billion for the first time in Acuity’s history and finished 2019 at $5.126 billion (GAAP). Additionally, Acuity generated a net income of nearly $185 million (GAAP).

 

“Acuity’s performance is confirmation that we are doing things right—pricing products fairly and accurately, maintaining underwriting discipline, and operating at a high level of efficiency,” said Ben Salzmann, Acuity President and CEO. “We continue not only to build on our foundation of financial strength, but also to surpass industry benchmarks. Most important to our customers, employees, and independent agents, our consistent performance builds financial strength everyone can depend on.”

 

In 2019, Acuity also combined outstanding financial performance with strong revenue growth. Fueled in part by a record-setting $277.5 million in new business in 2019, Acuity reached an all-time high in written premium in 2019 of $1.66 billion, an increase of more than $115 million over 2018.

 

In personal lines, Acuity reached nearly $410 million in written premium and achieved an incredible 23rd consecutive year of growth, and retention remained at an all-time high. In commercial lines, the insurer set a record for written premium at $1.25 billion and for quote requests at over 87,000.


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