Acuity released its 2017 financial results, which showed Acuity’s statutory surplus grew at 13.3 percent in 2017, compared to just 1.0 percent for the industry.
Also highlighting Acuity’s 2017 performance is a 94.6 combined ratio, nearly 14 points better than the insurer’s competitors in the property/casualty industry. This marks the largest positive spread between Acuity’s performance and the industry’s in 15 years and the seventh consecutive year Acuity has earned a combined ratio of less than 100. For an incredible 18 years, Acuity has outperformed industry averages across key areas of measurement.
“Acuity’s performance compared to the industry 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. “Most important to our customers and independent agents, our consistent performance builds financial strength they can depend on.”
Acuity showed other areas of strength in 2017 as well. The company reached $4 billion in assets for the first time, ending the year at $4.378 billion (GAAP). Additionally, Acuity maintained a leverage ratio under 1:1 for the ninth consecutive year, finishing 2017 with 0:76:1.
In 2017, Acuity combined financial performance with sales growth, including surpassing 300,000 policies in force for the first time. In commercial lines, Acuity received a record number of quote requests and achieved an all-time-high 43.7 success ratio on writing those quotes, finishing the year with over $1 billion in premium for the second consecutive year. In personal lines, Acuity achieved a new milestone in written premium with over $386 million, driven by new business growth that was greater than the previous year.