Last updated on June 18th, 2019 at 12:48 pm
Sheboygan-based property and casualty insurer Acuity announced that it reached a new annual revenue record in 2018.
The company had revenue of $1.54 billion, a 7.2 percent increase from its 2017 revenue of $1.44 billion
“For the past 19 years, Acuity has consistently grown faster than the insurance industry,” said Ben Salzmann, president and chief executive officer of Acuity. “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 attributes its ninth consecutive year of premium expansion to “balanced growth across personal and commercial lines and throughout its entire operating territory.”
In personal lines, the company surpassed $400 million in written premium. In commercial lines, Acuity saw growth across its key areas of focus: construction, trucking, manufacturing, retail, and services businesses. Commercial auto continues to be Acuity’s largest and fastest-growing line of business, the company said.
Acuity operates in 27 states and insures more than 100,000 businesses, including 300,000 commercial vehicles, and nearly a half million homes and private passenger autos. It has more than 1,300 employees.
“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.”
The company has said it plans to hire more than 160 employees in 2019.