LINCOLN – Amica Mutual Insurance Co. reported net income of $136 million in 2018, a 63.9% increase year over year, according to its just released annual report.
The company reported premium revenue of $2.3 billion, a 6.6% year-over-year increase. The company had 1.6 million active issued policies in force at the end of 2018, a 0.7% decline over the year.
Healing Beyond the Surface: Expert Wound Care with Angela Fazio, RN, BSN, CWCN
Why specialized treatment matters more than you may realize. For millions of Americans, chronic wounds…
Learn More
The company reported that there were 353,298 automobile claims for the year, a decline from 358,590 in 2017. Homeowners claims also declined from 62,176 in 2017 to 54,874 in 2018.
Total assets for the mutual insurer totaled $5.4 billion at the end of 2018, a 1% increase year over year. The company reported a surplus at the end of 2018 of $2.6 billion, a 4.3% decline from the end of 2017.
The company paid $142 million in dividends to policy holders in 2018, a decline from $145 million the year before, while at the same time reporting a 94.3% combined auto and home policy retention rate.
Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.
