Amica reports $161M profit in 2019

AMICA MUTUAL INSURANCE CO. reported a $161 million profit in 2019. / COURTESY AMICA MUTUAL INSURANCE CO.AMICA MUTUAL INSURANCE CO. reported a $161 million profit in 2019. / COURTESY AMICA MUTUAL INSURANCE CO.
AMICA MUTUAL INSURANCE CO. reported a $161 million profit for 2019. / COURTESY AMICA MUTUAL INSURANCE CO.

LINCOLN – Amica Mutual Insurance Co. reported a profit of $161 million in 2019, an increase from $136 million one year prior, the company said on April 28 in its annual report.

The company noted it had $241 million in income from investments for the year.

Assets at the end of 2019 totaled $5.4 billion, a slight decline year over year. The company said it had $2.8 billion in surplus for policyholders at that time, compared with a $2.6 billion surplus one year prior.

The number of policies the company had declined from 1.61 million to 1.56 million year over year. 

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Automobile claims declined 6% year over year to 330,596. Homeowner claims also declined 15% year over year to 46,190, the company said.

Amica also gave $4.2 million to support nonprofits through grants and sponsorships for the year.

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