NU Online News Service, March 19, 10:46 a.m. EDT
Regional property & casualty insurer ACUITY has reported full-year 2009 net income of nearly $50 million, a 66 percent increase over 2008 net income of $29.4 million.
The Sheboygan, Wis.-based company said it earned $21 million in underwriting profit for the year, and finished 2009 with a combined ratio of 100.8.
ACUITY also said its surplus grew 18 percent from $1.96 billion in 2008.
"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," said Wally Waldhart, ACUITY vice president, sales and communications.
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