The list is based on data compiled by the Division of Insurance for 2014, the last year for which complete data is available
This week we take a look at the top insurers who write private passenger automobile insurance in Massachusetts. All of our information comes from statistics compiled by The Massachusetts Division of Insurance for the calendar year 2014, the last year for which complete information is available.
Massachusetts-based companies continue to dominate this line of insurance
There are 53 insurance companies writing private passenger automobile insurance in Massachusetts. As of 2014, the total amount of direct written premium for for this line of insurance is $4,479,684,866.
Out of the top 20 companies, however, it is important to note that companies based in Massachusetts continue to dominate this line of insurance. The seven companies on this list currently have a 63.35% market share, with the top 5 companies commanding a 60.5% share of the private passenger automobile insurance market.
The Top 20 Private Passenger Automobile Insurance Companies in Massachusetts
Out of the top 20 insurers writing private passenger automobile insurance in the Commonwealth, seven are Massachusetts-based insurers. In terms of market share, the top 20 companies have a whopping 94.6% of the market, boasting $4,238,799,617 in direct written premium.
The Top 10 Private Passenger Automobile Insurance Companies in Massachusetts
The top half of the top ten private passenger automobile insurance companies is dominated by Massachusetts-domiciled insurance companies. While GEICO and Progressive continue to appear within the top ten they still have been unsuccessful in breaking into the top 5 market in this line of business. The top ten companies have 79.5% of the market share and write a $3,560,334,990 in direct written premium.
|Company Name||State||Premium Written in MA||Market Share in MA|
|MAPFRE/Commerce Ins. Co.||MA||$1,117,472,865||24.95%|
|Safety Ins. Co.||MA||$462,237,740||10.32%|
|Liberty Mutual Ins. Co.||MA||$449,919,102||10.04%|
|Arbella Mutual Ins. Co.||MA||$393,316,558||8.78%|
|Plymouth Rock Assurance CO.||MA||$287,325,978||6.41%|
|Metropolitan Prop & Cas. Ins. Co.||RI||$203,980,989||4.55%|
|Progressive Direct Ins. Co.||OH||$144,955,137||3.24%|
|Amica Mutual Ins. Co.||RI||$138,874,449||3.10%|
|Citizens Ins. Co. Of America||MI||$131,076,280||2.93%|
|Premier Ins. Co. Of MA||CT||$112,577,593||2.51%|
|LM Gen Ins. Co.||IL||$109,488,995||2.44%|
|Allstate Ins. Co.||IL||$81,339,605||1.82%|
|Quincy Mutual Fire Ins. Co.||MA||$76,098,365||1.70%|
|USAA Cas. Ins. Co.||TX||$73,056,765||1.63%|
|GEICO Gen. Ins. Co.||MD||$55,173,403||1.23%|
|Norfolk & Dedham Mut. Fire Ins. Co.||MA||$51,532,903||1.15%|
|Vermont Mutual Ins. Co.||VT||$44,633,072||1.00%|
|United Serv. Automobile Assn.||TX||$41,208,369||0.92%|
|NGM Ins. Co.||FL||$33,355,557||0.74%|