Suffolk-based Towne Insurance has once again been ranked among the Top 100 Largest Brokers of U.S. Business by “Business Insurance” magazine, moving up three spots to the 56th  position.

Rankings are based on 2017 revenue, with Towne Insurance showing a 10.4-percent increase in brokerage revenue over the previous year. This marks the sixth consecutive year Towne Insurance has claimed its position among the top 1 percent of more than 45,000 independent insurance firms in the nation.

“It is a pleasure to once again be recognized by a such well-respected report,” said Dudley Fulton, Towne Insurance president and chief executive officer. “This honor highlights our commitment to exquisite member service and is a direct result of a talented team of employees, whose unwavering dedication and industry expertise continues to set us apart from the competition. Whether finding a coverage solution or providing advice, our risk advisors remain trusted, critical business partners for our clients.”

This yearly ranking has been published for 47 years by “Business Insurance” magazine delivering important information to insurance buyers. This ranking provides awareness for trends that shape customers’ risk management and employee benefits challenges and service needs, as well as a market leader benchmark for peer comparison.

Towne Insurance, a wholly owned subsidiary of TowneBank, is a premier independent insurance agency providing comprehensive solutions and risk management programs to businesses of all sizes, including property and casualty insurance, workers’ compensation, bonding, employee benefits and more. Additionally, personal lines agents specialize in home, auto, umbrella and flood insurance.

With total assets of $10.83 billion as of June 30, 2018, TowneBank is one of the largest banks headquartered in Virginia.