Amica

Susan F. Chung serves as Chief Investment Officer and Chief Strategy Officer, making her the senior decision-maker on portfolio allocation. Benjamin Pittsley directs the alternatives program and holds the title Director of Alternatives and Investment Officer. The two manage the general account under the governance of the board chaired by Samuel J. Kennedy.

Amica has no public shareholders and issues no equity, which removes quarterly earnings pressure entirely. The general account can hold assets through market cycles without forced selling, giving Chung's team a permanent-capital advantage that resembles a family office more than a publicly listed insurer. Decisions optimize for long-term surplus growth and claims-paying ability, not short-term reported returns.

The firm favors direct ownership, particularly in commercial real estate — it holds its own headquarters at 100 Amica Way in Lincoln, RI and regional offices in Illinois and Pennsylvania as balance-sheet assets. For alternative asset classes beyond direct property, Amica's participation in the NAMIC network and ACG Deal Hunters Committee suggests a blend of direct co-investments and selective fund commitments alongside peer mutual insurers.

Amica's known alternative holdings center on direct real estate equity, with its owned offices demonstrating a preference for stabilized commercial property. Through the alternatives program directed by Benjamin Pittsley, the firm also evaluates private credit and infrastructure opportunities, consistent with the typical general-account playbook for long-duration mutual insurers matching liabilities.

The Amica Companies Foundation operates as a separate entity alongside the mutual insurance company. While the foundation draws its resources from Amica's success, its grantmaking and governance are distinct from the general account investment portfolio that Chung and Pittsley manage.

The investment office operates from Amica's headquarters at 100 Amica Way in Lincoln, Rhode Island. The firm also has regional offices in Lisle, Illinois and Horsham, Pennsylvania, though its core investment professionals are concentrated at the Lincoln campus.

Deal flow runs partly through Amica's deep ties to the mutual insurance industry — the firm is an active NAMIC participant, a trade association where general-account managers routinely share co-investment dialogues. Executive participation in the Association for Corporate Growth's Deal Hunters Committee provides additional origination channels for direct and co-investment opportunities.