Amica Mutual says net income dropped 16% in 2010 on higher incurred losses

AMICA Mutual Insurance Co. said net income declined more than 16 percent on higher incurred losses in 2010. /
AMICA Mutual Insurance Co. said net income declined more than 16 percent on higher incurred losses in 2010. /
LINCOLN - Amica Mutual Insurance Co. saw net income decline more than 16 percent in 2010 to $101.4 million on higher incurred losses, even though the insurer cut expenses and saw “impressive premium growth.” Robert A. DiMuccio, chairman, president and CEO, reported at the company’s annual meeting Thursday that Amica’s total auto, home and umbrella…

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