The list is based on data compiled by the Division of Insurance for 2014, the last year for which complete data is available
As we have done in past years, over the coming weeks, we will take a look at the top companies in Massachusetts for various lines of insurance. This week features a look at the top 20 insurance companies that write Fire in Massachusetts.
A total of 209 insurance companies write Fire in Massachusetts, two less than in 2013. The direct total written premium for fire insurance companies writing in Massachusetts in 2014 is $248,051,661. This number also represents a decrease from 2013 when total direct written premium was $255,828,353 dollars for that calendar year.
The Top 10 and the Top 20 Fire Insurance Companies in Massachusetts
The top 20 companies writing Fire have a combined total of $183,245,515 more than $10,000,000 less than in 2013 when the top 20 wrote $191,215,887 in direct written premium. Overall, in 2014 the Top 20 fire insurers represent a 73.9% market share. The remaining 189 companies have $64,806,146 dollars in direct written premium representing the remaining 21.6% percent of the market share.
In comparison, the top 10 Fire Insurer Companies in the Massachusetts write more than half of all the fire insurance in the Commonwealth claiming a 56.8% market share and direct written premium of $140,969,518. The remaining 199 companies have a 43.2% of the market share with $107,082,143 in direct written premium. While Arbella is the largest writer of fire insurance in Massachusetts as it was in 2013, it is interesting to note that Mapfre now occupies the second spot
|Company Name||State||Premium Written in MA||Market Share in MA|
|Arbella Protection Ins. Co.||MA||$30,540,275||12.31%|
|Commerce Ins. Co.||MA||$18,390,177||7.41%|
|Affiliate Fm. Ins. Co.||RI||$14,428,919||5.82%|
|Factory Mutual Ins. Co.||RI||$14,240,519||5.74%|
|Merrimack Mutual Fire Ins. Co.||MA||$12,994,976||5.24%|
|American Security Ins. Co.||DE||$12,419,297||5.01%|
|Liberty Mutual Fire Ins. Co.||WI||$11,863,522||4.78%|
|Vermont Mutual Ins. Co.||VT||$11,058,147||4.46%|
|Arbella Mutual Ins. Co.||MA||$7,850,040||3.16%|
|American Modern Home Ins Co||OH||$7,183,646||2.90%|
|Travelers Ind. Co.||CT||$7,035,455||2.84%|
|Metropolitan Prop & Cas. Ins. Co.||RI||$5,152,664||2.08%|
|Zurich American Ins. Co.||NY||$4,491,363||1.81%|
|Foremost Ins. Co. Grand Rapids MI||MI||$4,389,526||1.77%|
|Farm Family Casualty Ins. Co.||NY||$4,348,314||1.75%|
|Travelers Prop. & Cas. Co. of Amer.||CT||$4,180,072||1.69%|
|Safety Ins. Co.||MA||$4,088,348||1.65%|
|Continental Cas. Co.||IL||$2,979,184||1.20%|
|Quincy Mutual Fire Ins. Co.||MA||$2,883,561||1.16%|
|Verlan Fire Ins. Co. MD||NH||$2,727,510||1.10%|
For more information on the amount of property damage caused by fires in Massachusetts, see the Department of Fire Services’ Statistics on fires in Massachusetts during Calendar Year 2014.