Acuity announced that AM Best has affirmed the insurer’s Financial Strength Rating of A+ (Superior) with a Stable outlook, the 22nd consecutive year Acuity has earned an A+ Financial Strength Rating.
Acuity also has an A+ Financial Strength Rating from Standard & Poor’s (S&P), 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.
The affirmation of Acuity’s A+ Financial Strength Rating from AM Best follows a year in which Acuity achieved the strongest premium growth in its 98-year history, reached an all-time high in assets (GAAP), and grew policyholders’ surplus (GAAP) by over 12%.
In reaffirming Acuity’s A+ rating, AM Best noted the insurer’s strength across several areas of measurement:
• Balance Sheet – Strongest, emphasizing strongest level of risk-adjusted capitalization, strong liquidity, and cash flow.
• Operating Performance – Strong, highlighting strong, profitable long-term operating results better than the peer composite, as well as strong investment income.
• Business Profile – Favorable, built upon well-diversified mix of business by line and geography, grounded in a focus on profitable growth.
• Enterprise Risk Management – Appropriate, driven by strong risk assessment culture and risk management controls, supported by a highly risk-aware and engaged management team.
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 31 states. Rated A+ by AM Best and S&P, Acuity employs more than 1,600 people.
