Acuity hits $5B in assets milestone

Posted on Nov 14, 2019 :: Insight on Business, Web Exclusive
Jessica Thiel
Posted by of Insight Publications

Acuity announced that for the first time in its history, it has surpassed $5 billion in assets. The insurer has increased its assets nearly fivefold in 16 years, including adding $1 billion in less than three years.

The amount of assets Acuity manages is an indicator of the insurer’s continued ability to meet obligations to policyholders.

Acuity leaders say its growth is also a validation of its business strategy, which has produced strong gains over the past 20 years in written premium, policy count, net income and policyholders’ surplus. Acuity has doubled its top-line revenue in the past eight years and is ranked as the 60th largest of 2,600 property-casualty insurance companies in the nation.

“We have the agents, employee, and strategic plan in place to sustain our momentum,” said Acuity President and CEO Ben Salzmann. “Our continued strong growth shows we are pricing both fairly and competitively, which helps independent agents write more business and allows us to serve as a source of financial security for more customers.”

Related story: Acuity announces plans to hire an additional 100 workers in 2020