Acuity announced that Standard & Poor’s (S&P) has reaffirmed the insurer’s A+ long-term financial strength and issuer credit ratings with a stable outlook.
Acuity also has an A+ financial strength rating from AM Best, offering independent agents and customers the financial security of two superior ratings and ranking Acuity in the top 19 carriers nationally based on financial strength ratings.
“Our dual A+ ratings demonstrate that we have a foundation of financial strength and stability needed to drive continued business expansion, protect a growing number of customers, and provide rewarding jobs for more and more employees,” said Melissa Winter, Acuity President. “These independent affirmations also validate Acuity’s strategy, which has produced long-term financial results that have outperformed the industry.”
In its rating affirmation, S&P noted Acuity’s consistent operating earnings with a record of maintaining a strong underwriting margin in small commercial business, ample capital headroom to absorb sizable losses, and a strong balance sheet with no financial leverage with exceptional liquidity. S&P also stated that Acuity’s credit fundamentals, including the diversity of its business and improved profitability margin, supported the rating affirmation.
Acuity Insurance, headquartered in Sheboygan, Wisconsin, insures nearly 150,000 businesses, including nearly 350,000 commercial vehicles, and more than 550,000 homes and private passenger autos across 32 states. Rated A+ by AM Best and S&P, Acuity employs more than 1,600 people.
