Sheboygan-based property and casualty insurer
Acuity reported that its annual revenue in 2023 exceeded $2.6 billion for the first time in the company’s 98-year history.
Acuity reported a 17% growth rate for 2023 that generated a $378.3 million increase in topline revenue.
The company also said it plans to hire 150 employees in 2024. It currently employs more than 1,600 people.
The company said its 2023 growth was fueled by increases across its 31-state operating territory and gains in both personal and commercial lines.
In personal lines, the company had a record $611 million in revenue, including nearly $146 million in new business premium.
In commercial lines, Acuity wrote over $340 million in new business premium, issued over 37,000 new policies, and responded to nearly 129,000 quote requests.
“Our continued growth validates our business strategy and provides resources that position Acuity for the future,” said
Melissa Winter, Acuity president. “As we move forward with intentionality, we will continue to target profitable opportunities by leveraging our partnerships with independent agents, diversifying our operations, and integrating market strategy across our organization.”
“Acuity’s ongoing business expansion and financial stability enable us to fulfill our common purpose of caring for our family of employees, agents, and customers while staring down risk,” said
Ben Salzmann, Acuity CEO. “We are proud to be providing peace of mind to even more customers, serving more and more agents, and creating additional career opportunities for our people.”
Acuity insures nearly 150,000 businesses, including nearly 350,000 commercial vehicles, and more than 550,000 homes and private passenger vehicles.
