Our bi-monthly look at the current state of the Massachusetts private passenger auto insurance market
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 reflect the current state of the market as of April 2018, 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 continues as the second largest PPA writer
For a quick overview of the entire private passenger auto insurane marketplace, 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 this 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, as we mentioned in our First Look Article in May of this year, beginning in 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. GEICO continues as the second largest writer with a total 191,356 exposures representing a 11.54% market share thus far, this year.
MAPFRE still top private passenger auto insurer in Massachusetts
- MAPFRE/Commerce continues as the largest writer in this marketplace with a 25.27% market share representing a total of 418,925 exposures so far in 2018.
| COMPANY NAME | EXPOSURES | MARKET SHARE |
| 1. COMMERCE/MAPFRE | 418,925 | 25.27% |
| 2. GEICO | 191,356 | 11.54% |
| 3. LIBERTY MUTUAL | 156,391 | 9.43% |
| 4. SAFETY | 155,579 | 9.39% |
| 5. ARBELLA | 130,635 | 7.88% |
| 6. PLYMOUTH ROCK | 97,546 | 5.88% |
| 7. PROGRESSIVE | 68,255 | 4.12% |
| 8. METROPOLITAN | 58,685 | 3.54% |
| 9. THE PREMIER | 58,024 | 3.50% |
| 10. USAA | 53,616 | 3.23% |
| 11. AMICA MUTUAL | 53,394 | 3.22% |
| 12. HANOVER | 51,427 | 3.10% |
| 13. QUINCY MUTUAL | 29,734 | 1.79% |
| 14. ALLSTATE | 22,049 | 1.33% |
| 16. NORFOLK & DEDHAM MUTUAL | 19,230 | 1.16% |
| 17. VERMONT MUTUAL | 19,052 | 1.15% |
| 18. NATIONAL GRANGE | 18,985 | 1.15% |
| 19. PREFERRED MUTUAL | 9,263 | 0.56% |
| 20. OCCIDENTAL INS | 8,613 | 0.52% |
| 21. INTEGON | 5,605 | 0.34% |
| 22. STATE FARM | 5,598 | 0.34% |
| 23. GREEN MOUNTAIN | 4,204 | 0.25% |
| 24. ELECTRIC | 4,139 | 0.25% |
| 25. IDS | 3,774 | 0.23% |
| 26. BANKERS STANDARD | 3,369 | 0.20% |
| 27. ESURANCE | 3,256 | 0.20% |
| 28. FARM FAMILY | 2,723 | 0.16% |
| 29. PURE | 2,297 | 0.14% |
| 30. AMERICAN INTERNATIONAL | 1,033 | 0.06% |
| 31. HARLEYSVILLE WORCESTER | 905 | 0.05% |
| 31. ENCOMPASS | 8 | 0.00% |
Our look at the PPA market shifts and trends over the past five and ten years…
In order to give some perspective of the shifts in the marketplace over the past decade, in addition to featuring a graph of the Top Ten PPA insurers as of April 2018, Agency Checklists is also including the February 2018 graph plus, similar graphs from five years ago in April 2013, as well as from ten years ago in April 2008.
The goal is to present a more complete perspective on how the Massachusetts automobile insurance market has shifted during the past five and ten years, including which includes the first year of “Managed Competition.”
April 2018
February 2018
Now compare these graphs to the same date five years ago or in April 2013:
April 2013
Finally, the top 10 private passenger auto insurance companies in Massachusetts a decade ago, which also is the first official year of “Managed Competition”.
April 2008
