Market Share Review Of The Private Passenger Auto Insurers in Massachusetts

Commerce retains top spot in Massachusetts; GEICO inches up on Arbella

The following are the latest movements and trends in the market share of the top ten private passenger automobile insurance companies in Massachusetts.

The market share is from data as of December 2016 giving readers a look at the last year in its entirety.

With this report, as with our look at the commercial auto insurance market, Agency Checklists’ aim is to provide a snapshot of what is happening in the market along with a review of the overall shifts and trends that are happening within the private passenger automobile marketplace in the Commonwealth.

All data presented here is provided courtesy of the Commonwealth Automobile Reinsurers, the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

Graphs from the months of December 2016, 2011, and 2006 show how the market has changed

The first table is a listing of the top 20 carriers by Exposures and Market Share, next followed by graphs showing the top ten writers by market share.

In order to give some perspective of the shifts in the marketplace over the past decade, we have include similar graphs from both 2011 and 2006 to see how the Massachusetts automobile insurance market has shifted during the past five and ten years which of includes the transition into “Managed Competition.”

The top 20 private passenger automobile insurers in Massachusetts

This is the total amount of exposures that each insured had for the year 2016 based on data provided by CAR. Some things worth noting:

As of the last month of 2016, GEICO is now only two tens of a percentage point behind Arbella
Expect The Hanover to increase both its market share and position in the top 20 in 2017 following its announcement that is has entered into a Replacement Carrier Agreement with Encompass for its Personal Lines business, after Encompass’ own announcement that is officially withdrawing from Massachusetts.

Company Name	Exposures	Market Share
1. Commerce	1,175,499	25.64%
2. Liberty Mutual	501,069	10.93%
3. Safety	444,132	9.69%
4. Arbella	417,201	9.10%
5. GEICO	407,728	8.89%
6. Plymouth Rock	274,530	5.99%
7. Metropolitan	191,993	4.19%
8. Amica Mutual	157,841	3.44%
9. USAA	155,637	3.39%
10.Hanover	141,756	3.09%
11. Progressive	141,199	3.08%
12. The Premier	119,138	2.60%
13. Quincy Mutual	78,203	1.71%
14. Allstate	61,466	1.34%
15. Norfolk & Dedham Mutual	53,898	1.18%
16. Vermont Mutual	48,258	1.05%
17. National Grange	46,222	1.01%
18. Preferred Mutual	22,889	0.50%
19. State Farm	20,592	0.45%
20. Encompass	19,904	0.43%

A graphic comparison of the market share for the top 10 companies writing private passenger auto in Massachusetts

The biggest change noted in the following charts, is the increase in market share that Progressive has experienced over the past year. Note that in June 2015 it did not make up a part of the Top Ten market share, whereas in 2016 it does.