Agency Checklists’ first update of the year, with respect to the current state of the Commercial Auto Insurance marketplace in Massachusetts, reviews the data for this lines of insurance as of November 2022, the latest date for which complete data is currently avaialble.
Every two months, Agency Checklists reports on the latest data to give a snapshot of the current state of the Commercial Automobile insurance marketplace in Massachusetts in order for our readers to get a better sense of the trends and movements happening within this line of insurance.
As always, all of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers. For those unfamiliar with the Commonwealth Automobile Reinsurers, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
So, without further ado, a look at the latest data points:
Four thoughts from this month’s update:
- Commerce and Safety continue to occupy the largest market shares of the Commercial Auto Insurance marketplace with a 13.84% and 12.64% respectively. Combined, they claim a just over a quarter share of the entire market with a combined 26.48% market share.
- Five years ago, these same two insurers each claimed a 15.6% share of the marketplace at this same time.
- Ten years ago, however, it was Travelers who commanded the largest share in this marketplace with a 15.5% market share in November 2012. As fo November 2017, it is now the fifth-largest Commercial Auto Insurer in Massachusetts with a 7.35% market share as of November 2022.
- In comparison, third-ranked Arbella has more or less maintained its market share over the past ten years as the third-largest Commercial Auto writer in the Commonwealth.
The Commercial Auto Marketplace in Massachusetts
Exposures & Market Share as of November 2022
| Company | Premiums | Market Share |
|---|---|---|
| 1. COMMERCE | 136,459,077 | 13.84% |
| 2. SAFETY | 124,563,471 | 12.64% |
| 3. ARBELLA | 104,856,377 | 10.64% |
| 4. PROGRESSIVE | 87,153,052 | 8.84% |
| 5. TRAVELERS | 72,427,777 | 7.35% |
| 6. PLYMOUTH ROCK | 47,937,503 | 4.86% |
| 7. TOKIO MARINE & NACHIDO | 37,090,392 | 3.76% |
| 8. FIREMAN’S | 36,233,072 | 3.68% |
| 9. LIBERTY MUTUAL INS | 32,180,813 | 3.26% |
| 10. HANOVER | 28,539,711 | 2.90% |
| 11. ZURICH | 27,696,335 | 2.81% |
| 12. SELECTIVE INSURANCE | 24,094,148 | 2.44% |
| 13. UTICA | 19,273,156 | 1.96% |
| 14. TWIN CITY FIRE INS | 15,465,790 | 1.57% |
| 15. OLD REPUBLIC | 14,102,994 | 1.43% |
| 16. NATIONAL GRANGE | 13,903,707 | 1.41% |
| 17. GREAT AMERICAN | 13,209,556 | 1.34% |
| 18. NEW HAMPSHIRE | 10,580,054 | 1.07% |
| 19. FEDERATED MUTUAL | 10,349,151 | 1.05% |
| 20. GREEN MOUNTAIN | 9,970,333 | 1.01% |
| 21. EMPLOYERS MUTUAL | 9,912,221 | 1.01% |
| 22. FEDERAL | 9,847,393 | 1.00% |
| 23. AMERICAN CASUALTY | 9,117,692 | 0.93% |
| 24. FARM FAMILY | 7,913,353 | 0.80% |
| 25. N&D MUTUAL | 7,894,833 | 0.80% |
| 26. CENTRAL MUTUAL INS | 7,307,993 | 0.74% |
| 27. BANKERS | 5,991,653 | 0.61% |
| 28. US FIRE | 5,767,920 | 0.59% |
| 29. MIDDLESEX INS CO | 5,002,667 | 0.51% |
| 30. MERCH MUTUAL | 4,786,926 | 0.49% |
| 31. HARLEYSVILLE INS | 3,888,397 | 0.39% |
| 32. CINCINNATI | 3,877,440 | 0.39% |
| 33. QUINCY MUTUAL | 3,456,002 | 0.35% |
| 34. IMPERIUM | 3,207,049 | 0.33% |
| 35. ARCH | 3,146,309 | 0.32% |
| 36. PENN LUMBERMENS | 2,587,403 | 0.26% |
| 37. NEW YORK AND GENERAL INS | 2,444,201 | 0.25% |
| 38. STARR INDEMNITY | 2,391,507 | 0.24% |
| 39. PREFERRED MUTUAL | 2,377,129 | 0.24% |
| 40. MOTORISTS | 2,058,550 | 0.21% |
| 41. LANCER INSURANCE CO. | 1,751,368 | 0.18% |
| 42. STATE AUTO | 1,723,420 | 0.17% |
| 43. EVEREST NATIONAL | 1,349,736 | 0.14% |
| 44. ATLANTIC SPECIALTY | 1,249,269 | 0.13% |
| 45. ALLSTATE | 1,139,032 | 0.12% |
| 46. GREENWICH | 948,099 | 0.10% |
| 47. SECURITY NATIONAL | 858,163 | 0.09% |
| 48. PENN MNFCT ASSC INS | 780,508 | 0.08% |
| 49. CHURCH MUTUAL | 764,542 | 0.08% |
| 50. PROTECTIVE | 668,204 | 0.07% |
| 51. ARGONAUT | 651,244 | 0.07% |
| 52. BERKSHIRE HATHAWAY | 563,023 | 0.06% |
| 53. SOMPO AMERICA | 561,852 | 0.06% |
| 54. PRIME PROPERTY & CASUALTY | 533,256 | 0.05% |
| 55. ALLIED WORLD SPECIALTY | 464,396 | 0.05% |
| 56. GEICO | 432,329 | 0.04% |
| 57. AMERICAN AUTOMOBILE | 356,312 | 0.04% |
| 58. AXIS REINSURANCE | 311,038 | 0.03% |
| 59. QBE | 288,853 | 0.03% |
| 60. MITSUI SUMITOMO | 245,016 | 0.02% |
| 61. AMICA MUTUAL | 184,946 | 0.02% |
| 62. RLI | 180,819 | 0.02% |
| 63. STARSTONE NATIONAL | 159,288 | 0.02% |
| 64. FALLS LAKE | 105,435 | 0.01% |
| 65. STATE FARM | 79,003 | 0.01% |
| 66. GUIDEONE MUTUAL | 50,503 | 0.01% |
| 67. MARKEL AMERICAN | 41,847 | 0.00% |
| 68. CUMIS | 38,635 | 0.00% |
| 69. T.H.E. INS CO | 31,776 | 0.00% |
| 70. HDI GLOBAL | 26,383 | 0.00% |
| 71. AMERICAN HALLMARK | 17,742 | 0.00% |
| 72. AMERICAN BANKERS INS CO | 15,167 | 0.00% |
| 73. AMERICAN ALTERNATIVE | 848 | 0.00% |
| 74. AMERICAN FAMILY | 762 | 0.00% |
| TOTALS | 985,635,921 | 100.00% |
Looking Back: A Retrospective on the Top 10 Commercial Auto Insurers Over the Past 10 Years
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 November 2022, followed by the top 10 insurers five years earlier in November 2017, and then the top 10 from a decade ago in November 2012. Below these three graphs, there is now an additional side-by-side comparisons (viewed by sliding the arrows over the graphs) which allows for further comparisons.
November 2022
November 2017
November 2012
Side-by-Side Comparisons
November 2022/November 2017 Comparison
Use the arrows to slide over each graph to view each graph individually or for further comparison.
November 2022/November 2012 Comparison
Use the arrows to slide over each graph to view each graph individually or for further comparison.
Past Market Share Reports
For those interested in reviewing all of our bi-monthly updates throughout 2022 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:
2022 Market Share Reports
