MA Market Share Report 2019: The Top 20 Writers of Private Passenger Auto Insurance

Continuing with our top ten lists, and in light of our bi-monthly look at the latest CAR Data, the next installment of our Massachusetts Market Share Report for 2019 focuses on the private passenger auto insurance marketplace. As just a reminder, all of our information comes courtesy of the Division of Insurance and includes data from 2017, the last year for which complete information is available.

As most of our regular readers know, the private passenger auto insurance marketplace continues to be the main focus of both insurers and their agent partners being the driving force of revenues.

A total of fifty-two (52) insurers write private passenger auto insurance in Massachusetts

Comparing the data from 2016 to 2017, there were three additional companies that entered into the private passenger auto insurance marketplace. The total number of companies writing in Massachusetts in 2016 was 49 while as of 2017, it was 52.

This is the one of the few lines of business dominated by Massachusetts-based insurers

Similar to the homeowner’s marketplace, this is the other major line of insurance dominated by Massachusetts-based insurers.

With that said, it is important to point out that although Massachusetts-based insurers have not lost a lot of market share since this introduction of Managed Competition 11 years ago, direct writers GEICO and Progressive have both been able to establish a presence here taking some market share away from other top ten insurers here. For example, in 2016, the DOI’s official data shows GEICO as the fifth largest writer of private passenger auto with a 7.45% market share. In 2017, however, the DOI data ranks it as the third largest writer, with an 8.48% market share, a mere 0.28% behind Safety Insurance. Progressive’s market share, meanwhile, did not increase as much, with the DOI data ranking it as the ninth largest insurer in this line for both 2016 and 2017.

Premium and market share for this line of business

Some more data that you might find useful in understanding the private passenger auto insurance marketplace:

The Total Direct Written Premium for all 52 insurers in the private passenger auto insurance marketplace in 2017 was $5,188,109,343
The top 20 insurers enjoy a 90.1% share of the marketplace
Total Direct Written Premium for the top 20 writers totaled $4,673,828,363 in 2017
The remaining 32 companies claimed Total Direct Written Premium of $514,280,980 representing a 9.9% market share

The complete list of the top 20 insurers in this marketplace…

Company Name	State	Premium Written/MA	Market Share/MA
1. Commerce/MAPFRE Insurance	MA	$1,239,686,107	23.89%
2. Safety Ins Co	MA	$454,424,346	8.76%
3. GEICO	MD	$439,925,595	8.48%
4. Arbella Mutal Ins Co	MA	$408,349,928	7.87%
5. Liberty Mutual Ins Co	MA	$334,628,829	6.45%
6. Plymouth Rock Assurance Co	MA	$329,700,570	6.35%
7. LM Gen Ins Co	IL	$221,849,782	4.28%
8. Met P&C Ins Co	RI	$214,442,663	4.13%
9. Progressive Direct Ins Co	OH	$181,756,394	3.50%
10. Amica Mutual Ins Co	RI	$153,877,103	2.97%
11. Citizens Ins Co of America	MI	$153,616,518	2.96%
12. Standard Fire Ins Co	CT	$148,238,865	2.86%
13. GEICO Gen Ins Co	MD	$135,651,082	2.61%
14. Quincy Mutual Ins Co	MA	$77,098,994	1.49%
15. Allstate Ins Co	IL	$71,790,016	1.38%
16. USAA Cas Ins Co	TX	$55,260,571	1.07%
17. Norfolk & Dedham Mut Fire Ins Co	MA	$53,531,000	1.03%
18. Vermont Mutual Ins Co	VT	$50,425,435	0.97%
19. Safeco Ins Co of America	NH	$47,457,913	0.91%
20. United Service Automobile Assn	TX	$44,588,099	0.86%

Other useful information about the Private Passenger Auto Insurance marketplace in Massachusetts

In addition to publishing the yearly market share data, Agency Checklists also published a report on the top 25 private passgener auto insurers nationally. Additionally, Agency Checklists also publishes a bi-monthly update on the latest CAR data. The links to our most recent reports are provided below: