Sentry ranked No. 13 on Deloitte's Wisconsin 75 list

Sentry ranked No. 13 on Deloitte's Wisconsin 75 list

PR Newswire

STEVENS POINT, Wis., Oct. 2, 2024

Success reflects long-term strategy, forecast to continue in 2025

STEVENS POINT, Wis., Oct. 2, 2024 /PRNewswire/ -- Deloitte recently announced that Sentry ranks No. 13 on its Wisconsin 75, a ranking of the 75 largest private companies in Wisconsin based on revenue. That's up one spot from 2023.

Sentry has continued to grow in recent years, reflected by its move up to No. 643 on the Fortune 1000, its highest ranking ever and up 134 spots from a decade ago. This progress comes despite industry challenges like economic inflation, social inflation, and a post-pandemic economic surge in highway and industrial accidents, which have led to increased litigation.

The Stevens Point-based mutual insurer attributes its success to a business model that emphasizes diversification, specialization, and expertise. This approach results in smart pricing and tailored service offerings for customers.

"Staying true to who we are—smart, deliberate, and deeply connected to our customers and communities—has helped us navigate industry challenges and come out even stronger financially," said Pete McPartland, Sentry Chairman and CEO. "Our growth is made possible by our employees, who approach their work with thoughtfulness and purpose. Their commitment will continue to drive our success."

Market growth

Following expansion in Denver and El Paso, Sentry opened a new regional office in Dallas in 2023 to better serve Texas businesses, particularly those in industries like commercial construction, manufacturing, and service industries (financial, hospitality, professional, etc.).

Sentry also recently expanded its Surplus and Excess market offerings in the marine cargo and errors and omissions spaces through strategic partnerships with Falvey Insurance Group and Aegis Professional Risk, respectively.

Technology-driven growth, innovation

Sentry's investment in technology, including transitioning from a mainframe to cloud-based technologies, has significantly accelerated product development—allowing new products to reach the market in months rather than years. These advancements also enable Sentry to offer more accurate real-time pricing.

Sentry has further leveraged technology to better support its customers. One innovation is a groundbreaking predictive tool that helps claims personnel identify early risk factors in injured worker cases. By addressing these risks early on, Sentry tailors managed care plans, improving recovery times for workers and benefitting employers.  

Growth forecast to continue

Sentry's Deloitte Wisconsin 75 ranking was based on its $4.3 billion in premium revenue in 2023—a 10% increase year-over-year. Sentry's surplus grew by 8% in 2023 to $8 billion. Given Sentry's strategic positioning in its markets, growth is expected to continue in both its commercial and consumer lines. On the consumer side, Sentry's recent announcement of its acquisition of The General® from American Family Insurance—expected to close by year-end 2024 pending regulatory approval—will significantly expand its presence in the non-standard auto market.

About Deloitte's 2024 Wisconsin 75
Deloitte's annual Wisconsin 75 list salutes the largest privately held Wisconsin-based companies. These companies play a key role in the state's economy. The Wisconsin 75 list is selected based on annual sales revenue.

To be eligible for Deloitte's Wisconsin 75 recognition, companies must have a majority ownership by an individual(s), family, employee stock ownership plan, or private equity firm. Public companies are eligible when greater than 50% of the value or vote of the shares are owned by individuals, family, an employee stock ownership plan, or private equity. Additionally, companies must have annual sales revenue of at least $50,000. The Wisconsin 75 excludes cooperatives and accounting, tax, legal, and consulting service companies.

About Sentry

Sentry Insurance is one of the largest and most financially secure mutual insurance groups in the United States, holding a Financial Strength Rating of A+ (superior) from AM Best, current as of June 2024. See ambest.com/ratings/guide.pdf for rating information. Sentry and its subsidiaries sell property and casualty insurance, life insurance, annuities and retirement programs for business and individuals throughout the country. Headquartered in Stevens Point, Wisconsin, Sentry employs 5,000 associates across the country. See a complete list of underwriting companies at sentry.com.

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SOURCE Sentry Insurance