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 turn to review who are the top commercial automobile insurance companies in the Commonwealth. The information reprinted here was provided by The Massachusetts Division of Insurance for the calendar year 2014, the last year for which complete information is available.
There are a total of 183 companies writing this line of insurance in Massachusetts
One hundred and eighty three companies currently write Commercial Auto in Massachusetts. In dollars, that translates into a $724,246,373 dollar market.
Six out of the top 20 Commercial Automobile Insurance Companies are Massachusetts-based
The top 20 Commercial Auto insurance companies in the Commonwealth have a combined total of $480,883,340 dollars in direct written premium. This amount represents a 66.4% share of the market.
Out of the top 20 companies writing this line of insurance, six are based in Massachusetts. The six insurers represent a 38.24% of the market with $276,939,416 in Direct Written Premium. The six Massachusetts-based insurers are MAPFRE/Commerce; Arbella Protection Ins. Co.; Safety Insurance Co.; Safety Ind. Ins. Co.; Citation Ins. Co.; and Pilgrim Ins. Co.
The remaining 163 companies writing commercial auto in the Commonwealth have Direct Written Premium of $243,363,033 representing a 33.6% share of the market.
The Top 10 Commercial Automobile Insurance Companies in Massachusetts
In this category, the top ten Commercial Auto insurance writers claim a 52.7% market share with $381,860,629 in Direct Written Premium. Looking at the influence of Massachusetts-based insurers in this group, of the top ten, four insurers are Massachusetts domiciled with a 34.85% share of the market and $252,479,888 in Direct Written Premium.
Premium Written and MA Market Share of the top 20 Commercial Auto Insurers
|Company Name||State||Premium Written in MA||Market Share in MA|
|Commerce Ins. Co.||MA||90,370,930||12.48%|
|Arbella Protection Ins Co||MA||71,204,433||9.83%|
|Safety Ins Co||MA||56,852,118||7.85%|
|Charter Oak Fire Ins Co||CT||48,076,592||6.64%|
|Safety Ind Ins Co||MA||34,052,407||4.70%|
|Philadelphia Ind Ins Co||PA||24,366,702||3.36%|
|National Interstate Ins Co||OH||16,158,546||2.23%|
|Allmerica Fin Benefit Ins Co||MI||14,554,625||2.01%|
|Acadia Ins Co||NH||13,366,685||1.85%|
|Liberty Mut Fire Ins Co||WI||12,857,591||1.78%|
|Travelers Cas Ins Co Of Amer||CT||12,843,827||1.77%|
|Citation Ins Co||MA||12,761,577||1.76%|
|Pilgrim Ins Co||MA||11,697,951||1.62%|
|NGM Ins Co||FL||11,579,065||1.60%|
|New Hampshire Ins Co||IL||10,863,251||1.50%|
|Travelers Ind Co||CT||8,461,774||1.17%|
|Argonaut Ins Co||IL||8,361,603||1.15%|
|National Union Fire Ins Co Of Pitts||PA||8,275,601||1.14%|
|Hanover Ins Co||NH||7,206,312||1.00%|
|Travelers Prop Cas Co Of Amer||CT||6,971,750||0.96%|