Thanks to our agents and employees, Acuity is on a roll.
Fueled in part by $255 million in new business, Acuity reached an all-time high of $1.542 billion of written premium in 2018, an increase exceeding $100 million over 2017, or 7.2 percent.
“Our growth shows that, for agents, Acuity is your market,” says Ben Salzmann, President and CEO. “If you’re an agent looking for someone to write your personal or commercial lines business, we are your market. If you’re frustrated with how long it takes to get a quote with other carriers or having low hit rates, we are your market. If you’ve had enough with annoying phone queues and poor claims service other companies provide, we are your market,” Salzmann says.
The numbers are impressive. We’ve doubled our revenue in the past eight years and are now ranked as the 56th largest of 2,600 property-casualty insurance
companies in the nation.
Our ninth straight year of premium expansion came from balanced growth across personal and commercial lines and throughout our entire operating territory.
In personal lines, we surpassed $400 million in written premium and achieved an incredible 22nd consecutive year of growth. Retention is at an all-time high as is our average premium per new business application.
“Our new business policy premium average keeps climbing because agents are sending us more package accounts,” says Shane Paltzer, Vice President - Personal Lines and Marketing. “Whether package or monoline business, we continue to see agents sending good personal lines business to Acuity.” In commercial lines, Acuity achieved growth across all our areas of focus (construction, trucking, manufacturing, retail, and services businesses). Additionally, commercial auto—a problem area for many companies—continued to increase and remains our largest and fastest-growing line of business.
“Across the industry, the marketplace is extremely tight for commercial auto,” says Ed Warren, Vice President - Commercial Lines. “In contrast, our appetite is consistent. Agents know they can count on Acuity, and as a result they are sending us more and more good auto business.”
Acuity is well positioned to continue our expansion in the future.
“Our success in 2018 is a direct result of the efforts of our dedicated staff and our trusted agency partners,” Salzmann says. “We can’t say thank you enough for your efforts, and we look forward to continued success in 2019.”