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:
- NAIC 2019 US Market Share Report: Top 25 Private Passenger Auto Insurers
- 2nd Look 2019: The Private Passenger Auto Insurance Marketplace In Massachusetts
- 1st Look 2019 – The 2019 Private Passenger Auto Insurance Marketplace In Massachusetts
Links to other 2019 Massachusetts Market Share Reports
- The Top 20 Writers of Aircraft (All Perils) Insurance In Massachusetts
- The Top 20 Writers of Ocean & Inland Marine Insurance In Massachusetts
- The Top 20 Writers of Fire Insurance In Massachusetts
- The Top 20 Writers of Life Insurance In Massachusetts
- The Top 20 Writers of Annuities Insurance In Massachusetts
- The Top 20 Workers Compensation Insurers In Massachusetts
- The Top 20 Writers of Fidelity & Surety Insurance in Massachusetts
- The Top 20 Writers of Homeowners’ Multi-Peril Insurance in Massachusetts