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February 6, 2024
SHEBOYGAN — Acuity Insurance surpassed $2.6 billion in annual revenue in 2023 for the first time in its 98-year history.
President Melissa Winter said the insurer’s 17% growth rate in 2023 generated a record $378.3 million increase in topline revenue.
“Our continued growth validates our business strategy and provides resources that position Acuity for the future,” Winter said. “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.”
Winter said Acuity’s 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 achieved a record $611 million in revenue, including nearly $146 million in new business premiums.
In commercial lines, Acuity wrote more than $340 million in new business premiums, issued more than 37,000 new policies and responded to nearly 129,000 quote requests.
Winter said with Acuity’s growth comes increased job opportunities, as the insurer plans to hire approximately 150 more employees in 2024.
