02/14/2019 LINCOLN, R.I.
Amica Mutual Insurance Company reported growth and continued financial stability in 2018, a year in which catastrophe losses returned to a more normalized level.
Amica Chairman, President and Chief Executive Officer Robert A. DiMuccio announced the results today during the company’s annual meeting at its corporate headquarters.
In 2018, Amica’s earned premiums totaled $2.3 billion, and net income was $136 million.
“Our high-quality investment portfolio, coupled with our underwriting strategy and sound claims handling, kept us on firm financial ground,” DiMuccio said.
Additionally, Amica spent 2018 investing in new tools and technology to further enhance the customer experience.
“We continued to provide outstanding customer service to our policyholders, and I’m so appreciative of the frontline staff that represents us so well,” DiMuccio said. “To our customers, these employees are Amica. Day in and day out, they go above and beyond. And that’s true of all our employees.”
Amica Life Insurance Company also reported another strong year in 2018, generating nearly $7.5 million in new life premium and 8,200 new life policies.
“I’m excited for the future, and the opportunities it will bring,” DiMuccio said. “Our technology and digital initiatives will provide new, innovative ways for policyholders to connect with us, while our personal touch will remain at the core of everything we do.”