A Look at the State of the Marketplace as of September 2023
Every other month, Agency Checklists published a bi-monthly “check-up” on the current state of the Commercial Auto Insurance marketplace. The data reviewed for this line of insurance is provided courtesy of the Commonwealth Automobile Reinsurers. For those readers who may be unfamiliar with the Commonwealth Automobile Reinsurers, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
The ultimate aim of these “looks” is to get a better sense of the trends and movements happening within this line of insurance. For our current update, the data reflects the state of the market as of September 2023, the latest date for which complete CAR data is currently available.
So, without further ado, the latest numbers follow below:
Exposures & Market Share as of September 2023
| COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|
| 1. COMMERCE | 120,306,290 | 13.81% |
| 2. SAFETY | 98,866,477 | 11.35% |
| 3. ARBELLA | 95,161,746 | 10.92% |
| 4. PROGRESSIVE | 77,402,852 | 8.88% |
| 5. TRAVELERS | 62,814,336 | 7.21% |
| 6. PLYMOUTH ROCK | 41,491,515 | 4.76% |
| 7. TOKIO MARINE & NACHIDO | 35,211,011 | 4.04% |
| 8. FIREMAN’S | 31,917,088 | 3.66% |
| 9. ZURICH | 24,866,540 | 2.85% |
| 10. LIBERTY MUTUAL INS | 23,493,471 | 2.70% |
| 11. HANOVER | 23,065,359 | 2.65% |
| 12. SELECTIVE INSURANCE | 21,058,246 | 2.42% |
| 13. UTICA | 16,132,476 | 1.85% |
| 14. TWIN CITY FIRE INS | 16,065,170 | 1.84% |
| 15. OLD REPUBLIC | 13,814,424 | 1.59% |
| 16. GREAT AMERICAN | 13,521,541 | 1.55% |
| 17. NATIONAL GRANGE | 11,631,401 | 1.33% |
| 18. GREEN MOUNTAIN | 9,656,609 | 1.11% |
| 19. FEDERATED MUTUAL | 9,425,137 | 1.08% |
| 20. NEW HAMPSHIRE | 9,207,847 | 1.06% |
| 21. ARGONAUT | 9,055,476 | 1.04% |
| 22. AMERICAN CASUALTY | 8,954,101 | 1.03% |
| 23. EMPLOYERS MUTUAL | 8,473,635 | 0.97% |
| 24. FEDERAL | 7,932,846 | 0.91% |
| 25. N&D MUTUAL | 7,218,530 | 0.83% |
| 26. FARM FAMILY | 7,110,432 | 0.82% |
| 27. CENTRAL MUTUAL INS | 6,439,961 | 0.74% |
| 28. CINCINNATI | 5,257,377 | 0.60% |
| 29. US FIRE | 5,093,714 | 0.58% |
| 30. BANKERS | 4,849,940 | 0.56% |
| 31. ARCH | 4,344,511 | 0.50% |
| 32. MIDDLESEX INS CO | 4,301,696 | 0.49% |
| 33. IMPERIUM | 4,090,763 | 0.47% |
| 34. MERCH MUTUAL | 4,014,380 | 0.46% |
| 35. STARR INDEMNITY | 3,172,281 | 0.36% |
| 36. QUINCY MUTUAL | 2,671,991 | 0.31% |
| 37. NEW YORK AND GENERAL INS | 2,466,119 | 0.28% |
| 38. HARLEYSVILLE INS | 2,101,671 | 0.24% |
| 39. PREFERRED MUTUAL | 1,903,454 | 0.22% |
| 40. MOTORISTS | 1,850,149 | 0.21% |
| 41. LANCER INSURANCE CO. | 1,748,982 | 0.20% |
| 42. STATE AUTO | 1,481,986 | 0.17% |
| 43. PROTECTIVE | 1,345,230 | 0.15% |
| 44. ATLANTIC SPECIALTY | 1,246,855 | 0.14% |
| 45. GEICO | 1,006,513 | 0.12% |
| 46. CHURCH MUTUAL | 947,311 | 0.11% |
| 47. BERKSHIRE HATHAWAY | 921,290 | 0.11% |
| 48. SECURITY NATIONAL | 812,761 | 0.09% |
| 49. EVEREST NATIONAL | 758,846 | 0.09% |
| 50. PENN LUMBERMENS | 590,182 | 0.07% |
| 51. GREENWICH | 585,211 | 0.07% |
| 52. AMERICAN AUTOMOBILE | 471,054 | 0.05% |
| 53. PENN MNFCT ASSC INS | 470,834 | 0.05% |
| 54. ALLSTATE | 427,894 | 0.05% |
| 55. AXIS REINSURANCE | 328,665 | 0.04% |
| 56. FALLS LAKE | 283,428 | 0.03% |
| 57. MITSUI SUMITOMO | 242,898 | 0.03% |
| 58. SOMPO AMERICA | 224,588 | 0.03% |
| 59. AMERICAN FAMILY | 199,676 | 0.02% |
| 60. RLI | 178,043 | 0.02% |
| 61. QBE | 150,546 | 0.02% |
| 62. STARSTONE NATIONAL | 135,437 | 0.02% |
| 63. AMICA MUTUAL | 134,867 | 0.02% |
| 64. STATE FARM | 74,259 | 0.01% |
| 65. GUIDEONE MUTUAL | 49,598 | 0.01% |
| 66. CUMIS | 37,098 | 0.00% |
| 67. AMERICAN ALTERNATIVE | 30,989 | 0.00% |
| 68. MARKEL AMERICAN | 9,726 | 0.00% |
| 69. T.H.E. INS CO | 687 | 0.00% |
| 70. ALLIED WORLD SPECIALTY | -94 | 0.00% |
| TOTALS | 871,307,923 | 100.00% |
Agency Checklists’ Proprietary Retrospective of the Commercial Auto Marketplace
The following are graphs depicting the state of the Commercial Auto Insurance Marketplace over the past 10 years. The first graph shows the top 10 Commercial Auto Insurers as of September 2023, as compared to similar September in 2022, September 2021, September 2020, and September 2019. Following these comparisons, there are two more comparisons with, one from five years ago in September 2023 and then the last from ten years ago in September 2013.
Each year can be compared by sliding the window to either the left or right on each of the graph comparisons below.
Use the arrows to slide over each graph to view them individually or for further comparison.
September 2023 v. September 2022
September 2023 v. September 2021
September 2023 v. September 2020
September 2023 v. September 2019
5-Year Comparison
Use the arrows to slide over each graph to view them individually or for further comparison.
September 2023 v. September 2018
10-Year Comparison
Use the arrows to slide over each graph to view them individually or for further comparison
September 2023 v. September 2013
Past Market Share Reports
For those interested in reviewing all of our bi-monthly updates throughout 2022 & 2023 in order to get a sense of how the Commercial Auto Insurance marketplace continues to evolve, please find links to Agency Checklists’ previous updates below:
2023 Market Share Reports
2022 Market Share Reports
