Amica Mutual Insurance Company’s Board of Directors announced today that Robert A. “Bob” DiMuccio, Chairman, President and Chief Executive Officer, plans to retire at the end of 2022, following 31 years of distinguished service to the Company, including 17 as CEO.
With the benefit of knowing that DiMuccio planned to retire at the end of 2022, Amica’s Board of Directors, with the assistance of an independent advisor, initiated a CEO succession process in late 2021. The Board expects to name a new CEO during the summer of 2022. DiMuccio will continue through the end of the year and be available to ensure a smooth transition to the new CEO.
Against virtually every meaningful measure of success, DiMuccio has excelled. Financially, the Company has never been in a stronger position. During DiMuccio’s tenure as CEO, Amica earned a national reputation as a leader in customer service, product offerings and ease of doing business. Of particular note, a few years after DiMuccio took office in 2005, the country had to face the Great Recession of 2007-09. DiMuccio worked hand in hand with the Board and Amica’s employees to navigate and overcome this challenging time. The most recent challenge for which DiMuccio deserves high marks, the COVID-19 pandemic, put the management skills of DiMuccio and his staff on full display. Without the benefit of a playbook, DiMuccio and his staff developed, implemented and managed a successful work-from-home staffing plan that enabled the Company to maintain its industry-leading customer service standards. And with the pandemic seemingly subsiding, the return-to-work program has been equally successful.
“It has been an honor to serve as Amica’s CEO. You’re only as good as the people you surround yourself with, and I’ve been fortunate to work with extremely talented staff and Board members who genuinely care about this Company,” DiMuccio said. “Together, we’ve accomplished a lot and navigated some very challenging times – most recently, the impact of the pandemic on our employees and our customers, both of whom were at the forefront of our concern.
“I’m often asked what I’m most proud of,” he continued. “It’s the combined effort of so many people involved in putting the customer first, ensuring that we have the most up-to-date technology to serve them, increasing our brand awareness across the country, giving back to the community through our charitable foundation, and taking care of our employees with benefits that truly make a difference for them and their families. These are just a few of the things that come to mind, but I have to emphasize that these are not my accomplishments. The good people I’ve had the fortune to work with made this happen.”
DiMuccio began his career with the accounting firm KPMG Peat Marwick in Providence, Rhode Island, where he worked for 12 years and earned the position of Partner. He joined Amica in 1991 as a Vice President in Accounting, was promoted to Senior Vice President, and, in 1996, was awarded the additional title of Treasurer. DiMuccio was then named Chief Financial Officer in 2001 and Executive Vice President in 2003, before being named President and CEO in 2005. The title of Chairman was added in 2008.
DiMuccio has been an active leader outside of Amica, serving on the Board of Governors of the American Property Casualty Insurers Association. He’s also past Board Chair of the Rhode Island Public Expenditure Council. Other boards on which he serves or has served include the Property & Liability Resource Bureau, the Greater Providence Chamber of Commerce, the Washington Trust Company and Crossroads Rhode Island. He has also received the Paul Harris Fellow Award, given by Rotary International for outstanding community service.
On behalf of the Board, lead director Donald Julian Reaves expressed tremendous gratitude for the “vision, leadership and outstanding contributions to Amica and the community that Bob has provided. Through his guidance and strategic mindset, Amica sharpened its focus on the customer, which has positioned the Company for continued success in the years ahead.” While DiMuccio will be missed, he has left an outstanding legacy at Amica, among its employees and policyholders, and across the broader Rhode Island community.