Many factors distinguish Amica Life from the other suppliers of structured settlement annuities in the marketplace, including our commitment to servicing the customer, ensuring the safety of the payment obligation and balancing the risk assumed and return provided. Amica Life is fully backed by Amica Mutual Insurance Company, offering our customers safety, security and a payment guarantee.
Investment Philosophy – Amica follows a conservative investment philosophy with the vast majority of invested assets held in high-quality marketable securities. Virtually all bonds owned are of investment-grade quality, and common stock holdings are well diversified. Real estate investments are limited to properties occupied by the company.
Financial Strength – A.M. Best Company, the nation's oldest and best-known insurance rating company, has repeatedly awarded Amica Mutual Insurance Company its highest rating of A++ (Superior). A.M. Best has also given its highest rating of A++ (Superior) to the Amica Property & Casualty Insurance Company and Amica Lloyd's of Texas. Amica Life Insurance Company's rating was also affirmed at A+ (Superior), among the highest ratings awarded.1
Amica Life is a Class VIII company and Amica Mutual is a Class XIV company2 – Class size is important relative to the security provided. Amica's security is uniquely designed for maximum protection since Amica Mutual (Class XIV), the owner of the annuity and obligor of the payments, purchases the annuity from its wholly- owned subsidiary Amica Life (Class VIII). Amica Life makes the payments, but the payment obligation remains with Amica Mutual, the larger company. This arrangement gives the Amica structured settlements the backing of two highly-rated companies and ensures unparalleled safety and security for the annuitant.
1 A.M. Best Company. Jan. 11, 2013. For the latest rating, access ambest.com.
2 As measured by A.M. Best, class size is an indicator of the size of an insurer, based on its policyholder surplus. The greater the amount of surplus held, the higher the class size. It also includes conditional or technical reserve funds such as the asset valuation reserve, other investment and operating contingency funds, and/or miscellaneous voluntary reserves reported as liabilities.