The National Association of Insurance Commissioners has issued a new in-depth report on the 2021 market share data for insurers within the Property & Casualty marketplace. A total of 33 lines of business have been analyzed both at the national and state level. In response to the publication of this data, Agency Checklists is providing a distillation of the report over the coming weeks featuring the top insurers in various marketplaces in both Massachusetts as well as the rest of the New England states.
The Boiler & Machinery Marketplace in Massachusetts
| Company Name | Direct Premiums Written (000) | Direct Premiums Earned (000) |
Loss Ratio | Loss & Containment Ratio | Market Share | Cumulative Market Share |
|---|---|---|---|---|---|---|
| 1. FM GLOBAL GRP | 16,461 | 15,443 | 54.27 % | 54.83 % | 35.02 % | 35.02 % |
| 2. CHUBB LTD GRP | 5,763 | 5,590 | 17.13 % | 17.66 % | 12.26 % | 47.28 % |
| 3. TRAVELERS GRP | 3,589 | 3,448 | 49.34 % | 49.87 % | 7.64 % | 54.91 % |
| 4. ZURICH INS GRP | 3,103 | 2,546 | 2.54 % | 2.54 % | 6.60 % | 61.51 % |
| 5. AMERICAN INTL GRP | 3,082 | 3,399 | 10.51 % | 11.27 % | 6.56 % | 68.07 % |
| 6. CNA INS GRP | 1,716 | 1,619 | 15.32 % | 15.29 % | 3.65 % | 71.72 % |
| 7. WR BERKLEY CORP GRP | 1,681 | 1,638 | 17.11 % | 18.75 % | 3.58 % | 75.30 % |
| 8. LIBERTY MUT GRP | 1,671 | 1,322 | N/A | 0.76 % | 3.55 % | 78.85 % |
| 9. MUNICH RE GRP | 1,584 | 1,168 | 7.09 % | 7.11 % | 3.37 % | 82.22 % |
| 10. SELECTIVE INS GRP | 1,283 | 1,267 | 16.03 % | 16.03 % | 2.73 % | 84.95 % |
| ***STATE TOTAL*** | 47,007 | 44,672 | 29.14 % | 29.13 % | 100.00 % | 84.95 % |
Market Share Data for the rest of New England
Since many of our readers hail from all over New England, the following are additional snapshots of the top ten insurers for each of the other five New England states. The following highlights the top 10 insurers in this marketplace for each of the other New England states. Of note, FM Global is the top insurer in every New England state.
Connecticut
| Company Name | Direct Premiums Written (000) | Direct Premiums Earned (000) |
Loss Ratio | Loss & Containment Ratio | Market Share | Cumulative Market Share |
|---|---|---|---|---|---|---|
| 1. FM GLOBAL GRP | 5,797 | 6,460 | 70.77 % | 71.73 % | 27.11 % | 27.11 % |
| 2. CHUBB LTD GRP | 3,997 | 4,047 | 19.36 % | 19.74 % | 18.70 % | 45.81 % |
| 3. AMERICAN INTL GRP | 1,615 | 1,162 | 15.84 % | 16.71 % | 7.55 % | 53.36 % |
| 4. TRAVELERS GRP | 1,607 | 1,554 | 12.59 % | 13.12 % | 7.52 % | 60.88 % |
| 5. ZURICH INS GRP | 1,234 | 1,200 | 1.37 % | 1.37 % | 5.77 % | 66.65 % |
| 6. SELECTIVE INS GRP | 1,057 | 1,018 | 4.14 % | 4.14 % | 4.94 % | 71.60 % |
| 7. WR BERKLEY CORP GRP | 621 | 586 | 23.29 % | 23.83 % | 2.90 % | 74.50 % |
| 8. HERITAGE INS HOLDINGS GRP | 495 | 414 | 13.35 % | 13.79 % | 2.32 % | 76.82 % |
| 9. LIBERTY MUT GRP | 455 | 342 | N/A | N/A | 2.13 % | 78.95 % |
| 10. AXA INS GRP | 448 | 433 | N/A | N/A | 2.10 % | 81.04 % |
| ***STATE TOTAL*** | 21,380 | 21,834 | 29.39 % | 29.35 % | 100.00 % | 81.04 % |
Maine
| Company Name | Direct Premiums Written (000) | Direct Premiums Earned (000) |
Loss Ratio | Loss & Containment Ratio | Market Share | Cumulative Market Share |
|---|---|---|---|---|---|---|
| 1. FM GLOBAL GRP | 4,372 | 4,200 | 23.81 % | 25.20 % | 40.34 % | 40.34 % |
| 2. WR BERKLEY CORP GRP | 1,503 | 1,437 | 3.46 % | 3.46 % | 13.86 % | 54.20 % |
| 3. FRANKENMUTH GRP | 1,071 | 1,037 | 2.15 % | 1.93 % | 9.88 % | 64.08 % |
| 4. CHUBB LTD GRP | 714 | 573 | 15.51 % | 16.00 % | 6.59 % | 70.68 % |
| 5. TRAVELERS GRP | 688 | 714 | 7.07 % | 7.25 % | 6.35 % | 77.02 % |
| 6. ZURICH INS GRP | 438 | 362 | N/A | N/A | 4.04 % | 81.06 % |
| 7. AMERICAN INTL GRP | 394 | 282 | 15.38 % | 16.29 % | 3.63 % | 84.70 % |
| 8. LIBERTY MUT GRP | 353 | 331 | N/A | N/A | 3.26 % | 87.96 % |
| 9. THE HANOVER INS GRP | 213 | 187 | 2.93 % | 2.98 % | 1.96 % | 89.92 % |
| 10. SWISS RE GRP | 163 | 519 | N/A | N/A | 1.51 % | 91.42 % |
| ***STATE TOTAL*** | 10,839 | 10,529 | 9.47 % | 10.03 % | 100.00 % | 91.42 % |
New Hampshire
| Company Name | Direct Premiums Written (000) | Direct Premiums Earned | Loss Ratio | Loss & Containment Ratio | Market Share | Cumulative Market Share |
|---|---|---|---|---|---|---|
| 1. FM GLOBAL GRP | 2,286 | 2,216 | 3.01 % | 3.01 % | 26.48 % | 26.48 % |
| 2. AMERICAN INTL GRP | 1,092 | 1,024 | 8.00 % | 8.53 % | 12.65 % | 39.13 % |
| 3. WR BERKLEY CORP GRP | 920 | 883 | 21.56 % | 22.33 % | 10.66 % | 49.79 % |
| 4. ZURICH INS GRP | 902 | 706 | 5.97 % | 5.97 % | 10.45 % | 60.23 % |
| 5. CHUBB LTD GRP | 589 | 569 | 17.27 % | 17.74 % | 6.83 % | 67.06 % |
| 6. AXA INS GRP | 318 | 236 | N/A | N/A | 3.69 % | 70.75 % |
| 7. FRANKENMUTH GRP | 290 | 282 | 29.45 % | 29.25 % | 3.37 % | 74.11 % |
| 8. LIBERTY MUT GRP | 253 | 227 | N/A | N/A | 2.93 % | 77.04 % |
| 9. TRAVELERS GRP | 219 | 237 | 2.14 % | 1.92 % | 2.53 % | 79.57 % |
| 10. MUNICH RE GRP | 191 | 149 | 5.76 % | 5.63 % | 2.22 % | 81.79 % |
| ***STATE TOTAL*** | 8,631 | 8,240 | 9.27 % | 9.16 % | 100.00 % | 81.79 % |
Rhode Island
| Company Name | Direct Premiums Written (000) | Direct Premiums Earned | Loss Ratio | Loss & Containment Ratio | Market Share | Cumulative Market Share |
|---|---|---|---|---|---|---|
| 1. FM GLOBAL GRP | 1,283 | 1,359 | 4.97 % | 4.89 % | 19.38 % | 19.38 % |
| 2. CHUBB LTD GRP | 716 | 717 | 21.11 % | 20.44 % | 10.81 % | 30.19 % |
| 3. TRAVELERS GRP | 539 | 520 | 119.50 % | 124.38 % | 8.14 % | 38.33 % |
| 4. ZURICH INS GRP | 536 | 430 | 4.39 % | 4.39 % | 8.10 % | 46.43 % |
| 5. AMERICAN INTL GRP | 482 | 373 | N/A | N/A | 7.29 % | 53.72 % |
| 6. HERITAGE INS HOLDINGS GRP | 464 | 424 | 19.37 % | 19.61 % | 7.01 % | 60.73 % |
| 7. SELECTIVE INS GRP | 441 | 402 | 65.13 % | 65.13 % | 6.67 % | 67.39 % |
| 8. EMC INS CO GRP | 278 | 290 | N/A | N/A | 4.20 % | 71.59 % |
| 9. LIBERTY MUT GRP | 258 | 214 | 9.08 % | 8.26 % | 3.90 % | 75.50 % |
| 10. NATIONWIDE CORP GRP | 224 | 211 | N/A | N/A | 3.38 % | 78.88 % |
| ***STATE TOTAL*** | 6,621 | 6,270 | 23.02 % | 22.71 % | 100.00 % | 78.88 % |
Vermont
| Company Name | Direct Premiums Written (000) | Direct Premiums Earned | Loss Ratio | Loss & Containment Ratio | Market Share | Cumulative Market Share |
|---|---|---|---|---|---|---|
| 1. FM GLOBAL GRP | 1,866 | 1,770 | 0.00 % | 0.00 % | 32.38 % | 32.38 % |
| 2. WR BERKLEY CORP GRP | 704 | 670 | 5.29 % | 6.12 % | 12.22 % | 44.60 % |
| 3. TRAVELERS GRP | 565 | 483 | 10.39 % | 10.80 % | 9.81 % | 54.41 % |
| 4. ZURICH INS GRP | 422 | 230 | 10.24 % | 10.24 % | 7.32 % | 61.73 % |
| 5. AMERICAN INTL GRP | 382 | 366 | 5.66 % | 6.48 % | 6.63 % | 68.36 % |
| 6. FRANKENMUTH GRP | 380 | 358 | 7.33 % | 7.22 % | 6.59 % | 74.95 % |
| 7. LIBERTY MUT GRP | 223 | 180 | 16.09 % | 19.60 % | 3.88 % | 78.83 % |
| 8. CNA INS GRP | 186 | 191 | N/A | N/A | 3.23 % | 82.06 % |
| 9. NATIONWIDE CORP GRP | 174 | 170 | 23.61 % | 23.61 % | 3.03 % | 85.08 % |
| 10. MUNICH RE GRP | 155 | 119 | 3.39 % | 2.86 % | 2.68 % | 87.76 % |
| ***STATE TOTAL*** | 5,762 | 5,325 | 3.26 % | 3.50 % | 100.00 % | 87.76 % |
Other New England Market Share Reports
The following is a list of other New England market share reports on select lines of business as published in the NAIC report.
Top 10 Insurers Total All Lines | 2022 New England Market Share Report
