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ACUITY OFFICERS (from left to right)
MARCUS KNUTH Vice President - Enterprise Technology
SHERI MURPHY Vice President - Services & Administration
WENDY SCHULER Vice President - Finance
SHANE PALTZER Vice President - Marketing & Personal Lines
WALLY WALDHART Vice President - Sales & Communications
BEN SALZMANN President & CEO
ED WARREN Vice President - Commercial Lines
JAMIE LOIACONO Vice President - Claims
PAT TURES Vice President - Actuarial & Strategic Information
JOAN RAVANELLI MILLER General Counsel & Vice President - Human Resources
MELISSA WINTER Vice President - Business Consulting
WELCOME! 2016 has been a truly delectable 366 days at the Acuity Chocolate Factory. Turn the pages to learn more about all the magic that happened this year!
Acuity, A Mutual Insurance Company
1615141312111009080706050403020100
101.7
113.
410
1.811
7.2
90.9
108.
192
.310
0.7
89.1
99.6
84.8
99.8
89.0
93.8
97.5
96.4
101.0
101.4
100.
810
2.6
100.
7 104.
499
.610
8.7
94.2
105.
992
.499
.894
.999
.393
.099
.1
AVG.
100.
895
.110
3.0
Combined RatioAcuity Industry*
*Based on industry averages from Conning Research & Consulting, weighted by Acuity’s mix of business (GAAP).
92.9
1514131211100905
Surplus Growth
6.5
-3.9
6.6 7.6
12.5
-0.1
34.7
20.0
26.1
13.6
25.0
-0.8
22.3
19.9
11.4
8.2
18.2
11
.5 13.2
6.
25.
4-5
.914
.26.
920
.910
.710
.16.
9
Acuity Industry*
16
1.712
.40.
8
percent
*Based on industry averages from Conning Research & Consulting, weighted by Acuity’s mix of business (Statutory).
AVG.
13.8
5.4
08
-11.3
-12.5
00 01 02 03 04 06 07
8.0
Acuity Industry*
*Based on industry averages from Conning Research & Consulting, weighted by Acuity’s mix of business (GAAP).
24.6 26
.1 27.7
12.4
-3.2
-4.9
-5
.34.
3
17.1
14.4
15141312111009080706050403020100 16
7.0
4.6
3.5
3.3
percent
AVG.
10.5
4.5
Sales Growth
5.8
16.2 17
.515
.411
.6
3.9
9.3
3.1 6.
11.9 0.8
-1.7
-6.4
-0.6
8.1
3.8 6.
6
6.1
10.6
6.9
Comparative Written PremiumAcuity Acuity at Industry Growth Rate
in millions of dollars
289.
7 418.
233
6.7 53
4.1
395.
561
6.4
441.4
692.
545
8.6
756.
747
2.8
803.
248
1.880
9.8
473.
678
3.5
443.
374
4.7
419.
877
6.7
417.
383
9.6
433.
298
2.9
461.7
1,1
24.3
489.
9 1,2
43.0
523.
7
15141312111009080706050403020100
1,330
.1 54
7.8
341.2
16
1,376
.3
565.
9
We’re nota one-hit
wonder! Look atall those magical
years!
in thousands
28.8
03
31.4
04
35.0
05
40.1
06
44.3
07
47.5
08
54.7
09
55.7
10
58.5
11
67.0
12
68.0
13
67.1
14
66.9
15
Commercial LinesQuotes Received
69.2
16
in millions of dollars
840.7
923.0
976.0
Commercial LinesWritten Premium
09 1110 12 13 14 15
546.3
601.3
728.9
16
1,005.2
532.9
Commercial LinesQuote Hit Ratio
11 12 13 14 15
37.3
39.440.0
40.6
41.2
16
41.4
150.0
Personal LinesWritten Premium
standard, in millions of dollars
04 05 06 07 08 09 10 11 12 13 14 15
159.0 165.0180.3
195.6211.8
230.4238.3
253.0
283.6
320.0
354.1
16
371.2
In both commercial and personal lines,
we keep growing and growing!
CE Credits Earned byAgents Through Acuity
01-02 03-04 05-06 07-08 09-10 11-12 13-14 15-16
18,807
31,920
36,139 37,196 36,609
54,883
44,14544,988
Claims Satisfaction
94
85
*Based on surveys of claimants and insureds
percent
Acuity* Industry
Total Assets GAAP, in millions of dollars
03 04 05 06 07 08 09 10 11 12 13 14 15
1,178
1,4211,618
1,8501,999 1,961
2,1422,268
2,433
2,749
3,088
3,454
3,688
3,965
02
936
16
Policyholders’ SurplusGAAP, in millions of dollars
02 03 04 05 06 07 08 09 10 11 12 13 1401
248.
7
15
295.
0
380.
8
469.
9 567.
5 687.
5
761.4
681.3
817.
9 897.
9
980.
1 1,125
.5 1,289
.8 1,461
.0 1,573
.0
16
1,733
.0
Customers cancount on Acuity’s
claims service!
Net Written Premiumto Surplus Ratio
02 03 04 05 06 07 08 09 10 11 12 13 14 15
2.09
1.79
1.58
1.39
1.201.09
1.20
0.960.89 0.92 0.94 0.89 0.90 0.89
16
0.82
Staff Size
02 03 04 05 06 07 08 09 10 11 12 13 1401
645
15
710 727 734778
833 851 844 834 834 840 880
963
1,056
1,172
16
1,241 2016 was an amazing, record-setting year! Let’s take an even closer look at the ingredients that created a tasty recipe for
success!
STAT
EMEN
T OF
INC
OME
For t
he Y
ear E
ndin
g D
ecem
ber 3
1, 2
016
Und
erw
ritin
g in
com
e
$1,2
89,3
58,9
89
Und
erw
ritin
g de
duct
ions
Lo
sses
incu
rred
$6
61,5
40,3
65
Lo
ss e
xpen
ses
incu
rred
12
5,04
4,41
9
Und
erw
ritin
g ex
pens
es in
curr
ed
376,
846,
637
Tota
l und
erw
ritin
g de
duct
ions
1,16
3,43
1,42
1
Net
und
erw
ritin
g ga
in
12
5,92
7,56
8
Inve
stm
ent i
ncom
e
Net
inve
stm
ent i
ncom
e ea
rned
81
,950
,156
N
et re
aliz
ed c
apita
l gai
ns
19,2
01,1
23
Tota
l net
inve
stm
ent i
ncom
e
101,
151,
279
Oth
er in
com
e
2,02
6,03
1
Net
inco
me
(bef
ore
divi
dend
s an
d ta
xes)
229,
104,
878
Polic
yhol
ders
’ div
iden
ds
17
,486
,069
Net
inco
me
(afte
r div
iden
ds a
nd b
efor
e ta
xes)
211,
618,
809
Inco
me
taxe
s (in
clud
ing
defe
rred
)
66,5
28,0
11
NET
INC
OM
E
$145
,090
,798
Stat
emen
ts d
o no
t ref
lect
the
cons
olid
ated
ope
ratio
ns o
f non
-insu
ranc
e su
bsid
iarie
s an
d ar
e
pres
ente
d on
the
basi
s of
unc
onso
lidat
ed g
ener
ally
acc
epte
d ac
coun
ting
prin
cipl
es (G
AAP)
.
COMP
ARAT
IVE
STAT
EMEN
T OF
CON
DITI
ON
Dec
embe
r 31,
2
016
201
5
ASS
ETS
Bond
s $2
,085
,880
,163
$2
,038
,640
,136
Stoc
ks
844,
831,
959
750,
235,
463
Prem
ium
s re
ceiv
able
41
3,65
7,96
2 39
3,30
2,69
7
Cas
h an
d sh
ort t
erm
inve
stm
ents
50
,673
,909
51
,500
,846
Acc
rued
inte
rest
and
div
iden
ds
24,1
19,0
59
24,0
93,5
70
Prop
erty
and
equ
ipm
ent,
net
270,
054,
186
181,
513,
945
Rein
sura
nce
reco
vera
bles
14
2,26
2,35
0 11
8,62
9,02
2
Def
erre
d ac
quis
ition
cos
ts
117,
657,
007
111,
518,
058
Oth
er m
isce
llane
ous
asse
ts
15,9
34,5
13
18,4
44,3
15
Tota
l Ass
ets
$3,9
65,0
71,1
08
$3,6
87,8
78,0
52
LIA
BILI
TIES
AN
D S
URP
LUS
Loss
rese
rves
$1
,108
,289
,610
$1
,040
,062
,022
Une
arne
d pr
emiu
m re
serv
es
640,
552,
591
612,
052,
064
Loss
adj
ustm
ent e
xpen
se re
serv
es
255,
361,
319
242,
792,
188
Acc
rued
exp
ense
s 16
4,61
2,24
7 16
2,67
5,51
2
Def
erre
d in
com
e ta
x lia
bilit
y 56
,520
,208
53
,765
,297
Oth
er m
isce
llane
ous
liabi
litie
s 6,
756,
000
3,54
7,15
4
Tota
l lia
bilit
ies
2,23
2,09
1,97
5 2,
114,
894,
237
Polic
yhol
ders
’ sur
plus
1,
732,
979,
133
1,57
2,98
3,81
5
Tota
l Lia
bilit
ies
and
Surp
lus
$3,9
65,0
71,1
08
$3,6
87,8
78,0
52
A.M
. Bes
t Rat
ed A
+, S
uper
ior /
Sta
ndar
d &
Poo
r’s R
ated
A+
Withnumbers like these, we’re turning the industry on its
EAR!
Where all your insurance dreams come true!