Our bi-monthly look at the current state of the Massachusetts private passenger auto insurance market at the end of 2017
The following are the latest movements and trends in the market share of private passenger automobile (“PPA”) insurance companies in Massachusetts. All tables and graphs below reflects the current state of the market as of December 2017, the latest date for which complete data on the private passenger auto insurance marketplace is available.
As always, the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers, the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
GEICO has the second largest number of private passenger exposures through December 2017
The Division of Insurance noted in its annual report data for 2016, that there a total of 49 companies that are currently writing private passenger automobile insurance in Massachusetts. The total Direct Written Premium for the line of insurance was $4,925,469,543 dollars in 2016, with the top 20 writing the vast majority of that with $4,607,077.606 dollars in Total Direct Written Premium or a 93.5% market share.
The remaining 29 companies wrote only $318,391,937 dollars in Direct Written Premium representing a mere 6.5% market share.
Turning to the latest data from CAR, at the end of 2016, beginning of 2017, GEICO started out as the fifth largest private passenger insurer in Massachusetts (reflecting the market as of December 2016), just two tenths of a percentage point behind Arbella. As of the end of 2017, however, it has grown its presence to now rank second with 490,557 exposures and a 10.55% market share.
Some observations regarding the total market share for passenger automobile insurers in Massachusetts
- As of December 2017 there was a total of 4,651,641 exposures in force within the private passenger marketplace.
- MAPFRE/Commerce continues to rank number one with a total of 1,182,547 exposures representing a 25.42% market share.
| COMPANY NAME | EXPOSURES | MARKET SHARE |
| 1. COMMERCE/MAPFRE | 1,182,547 | 25.42% |
| 2. GEICO | 490,557 | 10.55% |
| 3. LIBERTY MUTUAL | 455,545 | 9.79% |
| 4. SAFETY | 430,723 | 9.26% |
| 5. ARBELLA | 383,454 | 8.24% |
| 6. PLYMOUTH ROCK | 274,390 | 5.90% |
| 7. METROPOLITAN | 181,534 | 3.90% |
| 8. PROGRESSIVE | 170,352 | 3.66% |
| 9. U S A A | 162,196 | 3.49% |
| 10. AMICA MUTUAL | 159,910 | 3.44% |
| 11. THE PREMIER | 146,796 | 3.16% |
| 12. HANOVER | 146,410 | 3.15% |
| 13. QUINCY MUTUAL | 79,874 | 1.72% |
| 14. ALLSTATE | 62,986 | 1.35% |
| 16. NORFOLK AND DEDHAM MUTUAL | 54,488 | 1.17% |
| 17. VERMONT MUTUAL | 52,594 | 1.13% |
| 18. NATIONAL GRANGE | 50,548 | 1.09% |
| 19. PREFERRED MUTUAL | 25,726 | 0.55% |
| 20. STATE FARM | 21,145 | 0.45% |
| 21. OCCIDENTAL INS | 20,842 | 0.45% |
| 22. INTEGON | 14,921 | 0.32% |
| 23. IDS | 12,303 | 0.26% |
| 24. ELECTRIC | 12,276 | 0.26% |
| 25. GREEN MOUNTAIN | 12,078 | 0.26% |
| 26. ESURANCE | 10,035 | 0.22% |
| 27. BANKERS STANDARD | 9,797 | 0.21% |
| 28. ENCOMPASS | 7,823 | 0.17% |
| 29. FARM FAMILY | 7,760 | 0.17% |
| 30.PURE | 5,278 | 0.11% |
| 31. AMERICAN INTERNATIONAL | 3,649 | 0.08% |
| 31. HARLEYSVILLE WORCESTER | 3,105 | 0.07%V |
Graphs from the months of December 2017, 2012, and 2007 show how the market has changed over the past decade
In order to give some perspective of the shifts in the marketplace over the past decade, we have include similar graphs from both June 2017, as well as the final tally graphs from 2012 and 2007 to present a more complete perspective on how the Massachusetts automobile insurance market has shifted during the past five and ten years, including the year before the transition into “Managed Competition.”
DECEMBER 2017
This was how the market looked mid-way through this past year…
JUNE 2017
Now compare that to the same date five years ago or in June 2012:
2012
Finally, the top 10 private passenger auto insurance companies in Massachusetts a decade ago, which also is the last year before the introduction of “Managed Competition”.
2007
