LINCOLN – Amica Mutual Insurance Co. has named Edmund “Ted” Shallcross III as the company’s next CEO and president.
Shallcross, 49, who is currently senior vice president and manager of Amica Life and lives in Rhode Island, will take over for retiring CEO and President Robert A. DiMuccio on Oct. 1.
He’ll take the reins of a national insurer that is the fourth-largest private company in the state, with more than 1,740 employees and $2.7 billion in revenue in 2021, according to PBN’s 2022 Book of Lists.
“Ted is the right person at the right time,” said Donald Julian Reaves, Amica’s lead director, who noted that the search process took a year. “He has the board’s unanimous support, and we know Amica will continue to thrive under his guidance. Ted brings industry experience, demonstrated leadership skills, a track record of success and extensive knowledge of the company.”
Shallcross began working at Lincoln-based Amica in 2007. He had previously worked for Big Four accounting firm KPMG International Ltd.
In 2012, Shallcross was named a PBN 40 Under Forty recipient.
“It’s an honor to succeed Bob at the helm of Amica, and he leaves a legacy of integrity, sound financial management and people-focused stewardship. His leadership and mentorship have been invaluable to me, and his impact has been transformative for Amica,” Shallcross said. “Our unmatched service in the insurance industry is driven by a talented team of people across the country who truly care about our policyholders. My goal is to preserve the personal service we’re known for, while we prepare to serve tomorrow’s generations of customers. I look forward to continuing to work with the talented people at Amica, and positioning the company to grow and thrive over the next 100 years and beyond.”
DiMuccio, who was chief executive at the insurer for 17 years, will continue to serve as nonexecutive chairman of the board until Dec. 31.
“I’ve worked with Ted for the past 15 years,” DiMuccio said. “During that time, he has shown himself to be a steady, objective and empathetic leader. I fully support his appointment as Amica’s next CEO, and look forward to working with him over the next six months as he transitions into his new role. I retire from Amica knowing that the company is led by a board and CEO who understand its culture and values, and who are ready to face the challenges ahead.”
Before joining Amica, Shallcross spent 12 years at KPMG’s property and casualty insurance practice, where Amica was one of his clients. He started at Amica as a senior assistant vice president in the accounting department and later took on the role of vice president at Amica Life, overseeing the organization’s financial and operational activities.
