Acuity announced that, fueled in part by $255 million in new business, the insurer reached an all-time high $1.542 billion of revenue in 2018, an increase exceeding $100 million over 2017, or 7.2%.
“For the past 19 years, Acuity has consistently grown faster than the insurance industry,” said Acuity President and CEO Ben Salzmann. “Our growth shows that Acuity is trusted by more individuals, families, and businesses than ever before to protect what matters. It also shows that we are a strong, stable market for independent agents.”
Acuity has doubled its top-line revenue in the past eight years and is ranked as the 56th largest of 2,600 property-casualty insurance companies in the nation. The insurer’s ninth straight year of premium expansion came from balanced growth across personal and commercial lines and throughout its entire operating territory.
In personal lines, Acuity surpassed $400 million in written premium and achieved an incredible 22nd consecutive year of growth. Customer retention is at an all-time high.
In commercial lines, Acuity achieved growth across all key areas of focus—construction, trucking, manufacturing, retail, and services businesses. Additionally, commercial auto—a problem area for many companies—continued to increase and remains Acuity’s largest and fastest-growing line of business.
“Our success in 2018 is a direct result of the efforts of our dedicated staff, trusted agency partners, and loyal customers,” Salzmann said. “We can’t say thank you enough for their efforts, and we look forward to continued success in 2019.”