Sheboygan-based Acuity has released its 2009 annual report, showing the company's surplus grew more than 18 percent to an all-time high and a percentage increase that was nearly three times greater than the industry norm.
Additionally, Acuity set a record for having over one dollar of policyholder surplus for every dollar of written premium.
"Surplus ensures we meet our financial obligations to policyholders when losses occur," said Wendy Schuler, vice president of finance for Acuity. "Particularly in today's troubled economic times, independent agents and consumers need to know their insurance protection is built on a solid foundation."
"Our strong surplus position and favorable leverage ratio allow us to be a broader market for our agents, take on more business, and provide more opportunity for our staff," added Wally Waldhart, vice president of sales and communications for the company.|
Acuity's assets reached an all-time record $2.14 billion.
"The insurance industry, national economy, and global marketplace have been riddled with layoffs, bankruptcies, and uncertainty. In contrast, Acuity's surplus position and operational performance have allowed us to navigate this Great Recession, provide the financial protection our agents and policyholders depend on, and have no layoffs," Salzmann said. "We are not only proud of our performance in 2009, but incredibly optimistic about the years ahead."
Acuity grows with record assets
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