Amica Taps CEO Ted Shallcross as Chair in Strategic Leadership Move

LINCOLN, RI – April 29, 2026 – Amica Mutual Insurance Company has consolidated its leadership, appointing President and Chief Executive Officer Edmund (Ted) Shallcross III as the new Chair of the Board. The move, announced by the company's board of directors, underscores a deep confidence in the strategic direction Shallcross has charted since taking the helm as CEO in October 2022.

This appointment combines the top executive and board leadership roles, a significant governance decision for the 119-year-old mutual insurer.

A Unified Vision for the Next Century

The decision to name Shallcross as Chair is a deliberate move to streamline decision-making and solidify the company’s strategic vision. By uniting the roles of CEO and Chair, Amica is signaling a commitment to agile leadership capable of navigating a complex insurance landscape while upholding its long-standing mutual values.

Jill Avery, lead director of the board, commented on the appointment, stating, “Ted’s leadership demonstrates a clear and thoughtful vision for Amica’s future. He is dedicated to maintaining the traditions that have made Amica successful for over a century, while also showing the courage and foresight to embrace changes that will guide us into the next century. This makes him an excellent choice to serve as chair.”

This governance structure aims to create a clear channel from strategic planning to operational execution, ensuring that the company’s future-focused initiatives are deeply integrated with its core mission of serving its policyholders. For a mutual company owned by its policyholders, this alignment is paramount.

Fortifying Financials Through Disciplined Leadership

Shallcross’s promotion comes on the heels of a period of significant financial strengthening for Amica. The company announced that in 2025, it achieved its second-highest surplus level in history—a critical measure of an insurer's ability to pay future claims and withstand financial shocks.

This achievement is particularly noteworthy given the industry-wide challenges of recent years. Under Shallcross’s tenure, Amica navigated substantial underwriting losses in its auto and homeowner's lines during 2022 and 2023, which led rating agency AM Best to revise its outlook to negative in early 2024. However, through what the company describes as "disciplined underwriting, exceptional service delivery and a focus on operational efficiency," Amica successfully stabilized its financial position. By March 2026, AM Best affirmed Amica’s A+ (Superior) financial strength rating and revised its outlook back to stable, a testament to the effectiveness of the strategic adjustments made under Shallcross’s leadership.

This financial resilience has been complemented by consistent industry recognition, including a five-year streak on Forbes’ America’s Best Insurance Companies list.

A Culture of Customer and Employee Loyalty

Beyond the balance sheet, Shallcross's leadership has been defined by a focus on people—both customers and employees. This commitment is reflected in a cascade of national awards for service and workplace excellence.

Amica recently secured its 67th award from J.D. Power, earning the top ranking in the U.S. Property Claims Satisfaction Study. This adds to a long list of accolades, including being named #1 for both Homeowners and Renters Insurance in the J.D. Power 2025 U.S. Home Insurance Study. This consistent recognition for customer satisfaction is a cornerstone of the Amica brand.

Internally, the company has cultivated what Shallcross terms a "thriving workplace culture." This has translated into recognition on Newsweek’s Greatest Workplaces lists for Diversity and Women, as well as a Platinum honor in the "Where You Work Matters" list. These awards are supported by comprehensive DEI initiatives, robust employee benefits, and a "grow-from-within" philosophy that fosters career development. The company’s focus on its workforce is seen as a key driver of its external success.

Blending Tradition with Modern Strategy

While rooted in over a century of history, Amica under Shallcross has embraced modern strategies to expand its reach and relevance. This is most visible in its high-profile strategic partnerships, which aim to increase brand awareness while reinforcing community impact.

The multi-year partnership with the Boston Celtics, which places the Amica logo on the team’s jerseys, is a prime example. The collaboration extends beyond mere sponsorship, with the Amica Companies Foundation supporting the Boston Celtics Shamrock Foundation’s work in early childhood education. This aligns with Shallcross’s stated goal to "make a real impact in New England." Similar strategic partnerships with NBA star Jayson Tatum and Penn State further amplify the brand’s national footprint in a way that resonates with its service-led culture.

Technological innovation is another key pillar of this modern approach. The company has partnered with Cambridge Mobile Telematics (CMT) to launch its StreetSmart app, which provides policyholders with data-driven insights to encourage safer driving, and has worked with Merkle to modernize its marketing ecosystem for more personalized customer communication.

Shallcross, who holds an MBA from Indiana University’s Kelley School of Business and serves on several industry and community boards, is poised to guide Amica through its next chapter.

“As chair, I look forward to working closely with our very talented board and leadership team to ensure Amica remains focused on what matters most — our people, our policyholders and the long-term strength of our mutual company,” Shallcross said, affirming the principles that have guided the insurer for 119 years.