Acuity: Sets growth records in 2023

Acuity announced that in 2023 the company surpassed $2.6 billion in annual revenue for the first time in its 98-year history. 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,” said Melissa Winter, Acuity President. “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.” 

“Acuity’s ongoing business expansion and financial stability enable us to fulfill our common purpose of caring for our family of employees, agents, and customers while staring down risk,” said Ben Salzmann, Acuity CEO. “We are proud to be providing peace of mind to even more customers, serving more and more agents, and creating additional career opportunities for our people.”

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 premium. In commercial lines, Acuity wrote over $340 million in new business premium, issued over 37,000 new policies, and responded to nearly 129,000 quote requests. With Acuity’s growth comes increased job opportunity: the insurer plans to hire approximately 150 in 2024. 

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.