The latest numbers on the state of the 2019 Commercial Automobile insurance marketplace in Massachusetts are in…
As with our review of the private passenger auto insurance marketplace, here is Agency Checklists’ fourth update of the year on the current state of the commercial automobile insurance marketplace in 2019.
All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market as of July 2019, the latest date for which there is complete data available. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
A look at the market as a whole…
Official data on the Commercial Auto Marketplace is now available from the Division of Insurance. According to the latest official report from the Division of Insurance (2017), total Direct Written Premium totaled $855,021,922 in 2017, with a total of 191 companies writing Commercial Auto Insurance in the Commonwealth.
- Of that number, the top 20 companies wrote approximately $578,620,204 in Direct Written Premium, equaling a 67.7% share of the market place.
- The remaining 171 companies wrote $276,401,718 in Direct Written Premium which translated into a 32.3% market share.
For those interested in comparing this latest update with other information Agency Checklists has published on the Commercial Auto Insurance marketplace, please refer to the following reports:
- NAIC 2019 Market Share Report: The Top 25 Commercial Auto Insurance Companies In The U.S.
- 2019 MA Market Share Report: The Top Commercial Auto Insurance Companies in Massachusetts
- 1st Look 2019 – The Commercial Auto Insurance Marketplace In Massachusetts
- 2nd Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
- 3rd Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
Safety maintains its position with the largest market share as of July 2019
Similar to past reports, Safety and MAPFRE/Commerce continue to alternate being the leading commercial auto insurer throughout the year. While MAPFRE/Commerce had the higher market share percentage in our 1st Look, Safety took over the top spot in our 2nd Look report for March, as well as our 3rd Look in July, and continues to do so now in our Fourth Look.
This mirrors the pattern seen over the past couple of years. If our readers may remember, in December 2016, Safety briefly had risen to the number one spot to overtake Commerce in the commercial auto insurance sphere. This was reversed by the end of 2017, however, with MAPFRE coming in at number one on this list. All in all, however, the first and second-largest insurers’ difference in this marketplace continues to be almost negligible in 2019.
The following is a complete list of all the Commercial Auto Insurers in Massachusetts, ranked by premiums as of July 2019:
| COMPANY | PREMIUMS | MARKET SHARE |
| 1. SAFETY | 85,980,527 | 15.26% |
| 2. MAPFRE/COMMERCE | 82,111,917 | 14.57% |
| 3. ARBELLA | 64,708,639 | 11.49% |
| 4. TRAVELERS | 43,976,101 | 7.81% |
| 5. PLYMOUTH ROCK | 30,648,701 | 5.44% |
| 6. TOKIO MARINE & NACHIDO | 28,420,135 | 5.04% |
| 7. LIBERTY MUTUAL INS | 25,044,510 | 4.45% |
| 8. PROGRESSIVE | 24,544,424 | 4.36% |
| 9. FIREMAN’S | 21,536,854 | 3.82% |
| 10. HANOVER | 19,890,202 | 3.53% |
| 11. ZURICH | 12,699,813 | 2.25% |
| 12. TWIN CITY FIRE INS | 10,132,586 | 1.80% |
| 13. SELECTIVE INSURANCE | 10,063,476 | 1.79% |
| 14. NATIONAL GRANGE | 8,861,025 | 1.57% |
| 15. UTICA | 8,602,507 | 1.53% |
| 16. ARGONAUT INSURANCE COMPANY | 5,984,718 | 1.06% |
| 17. EMPLOYERS MUTUAL | 5,543,826 | 0.98% |
| 18. GREAT AMERICAN | 5,449,000 | 0.97% |
| 19. AMERICAN CASUALTY | 5,009,513 | 0.89% |
| 20. FARM FAMILY | 4,877,488 | 0.87% |
| 21. FEDERAL | 4,795,613 | 0.85% |
| 22. FEDERATED MUTUAL | 4,571,273 | 0.81% |
| 23. US FIRE | 4,076,416 | 0.72% |
| 24. N&D MUTUAL | 4,054,033 | 0.72% |
| 25. BANKERS | 3,478,389 | 0.62% |
| 26. HARLEYSVILLE INS | 2,821,862 | 0.50% |
| 27. QUINCY MUTUAL | 2,688,257 | 0.48% |
| 28. NEW HAMPSHIRE | 2,611,931 | 0.46% |
| 29. OLD REPUBLIC | 2,528,508 | 0.45% |
| 30. GREEN MOUNTAIN | 2,463,172 | 0.44% |
| 31. CENTRAL MUTUAL INS | 2,371,609 | 0.42% |
| 32. MERCH MUTUAL | 2,366,603 | 0.42% |
| 33. STARR INDEMNITY | 2,111,618 | 0.37% |
| 34. MIDDLESEX INS CO | 1,905,297 | 0.34% |
| 35. NEW YORK AND GENERAL INS | 1,847,480 | 0.33% |
| 36. PROTECTIVE INS | 1,684,973 | 0.30% |
| 37. MOTORISTS | 1,667,072 | 0.30% |
| 38. LANCER INSURANCE CO. | 1,364,491 | 0.24% |
| 39. STATE AUTO | 1,213,073 | 0.22% |
| 40. PREFERRED MUTUAL | 1,181,580 | 0.21% |
| 41. ARCH INS | 836,403 | 0.15% |
| 42. ATLANTIC SPECIALTY | 828,462 | 0.15% |
| 43. AMERICAN ALTERNATIVE | 731,593 | 0.13% |
| 44. GREENWICH INS | 581,049 | 0.10% |
| 45. PENN MNFCT ASSC INS | 580,886 | 0.10% |
| 46. SOMPO JAPAN INS | 459,077 | 0.08% |
| 47. AMERICAN AUTOMOBILE | 451,425 | 0.08% |
| 48. QBE | 372,995 | 0.07% |
| 49. STARSTONE NATIONAL | 322,935 | 0.06% |
| 50. EVEREST NATIONAL | 291,857 | 0.05% |
| 51. MITSUI SUMITOMO | 270,448 | 0.05% |
| 52. CHURCH MUTUAL | 246,907 | 0.04% |
| 53. BERKSHIRE HATHAWAY | 234,865 | 0.04% |
| 54. AXIS INSURANCE CO | 224,693 | 0.04% |
| 55. ALLIED WORLD SPECIALTY | 189,588 | 0.03% |
| 56. AMICA MUTUAL | 169,013 | 0.03% |
| 57. GUIDE ONE MUTUAL | 167,935 | 0.03% |
| 58. SECURITY NATIONAL | 154,306 | 0.03% |
| 59. RLI INS | 143,604 | 0.03% |
| 60. MARKEL | 56,325 | 0.01% |
| 61. STATE FARM | 47,756 | 0.01% |
| 62. THE CINCINNATI INS | 43,448 | 0.01% |
| 63. T.H.E INSURANCE CO | 33,729 | 0.01% |
| 64. CUMIS INS SOCIETY | 24,308 | 0.00% |
| 65. PENN LUMBERMENS | 20,553 | 0.00% |
| 66. HARCO NATIONAL | 18,749 | 0.00% |
| TOTAL | 563,392,121 | 100.00% |
Graphs from July 2019, July 2014, and July 2009 depicting the evolution of this marketplace over the past decade
July 2019
July 2014
July 2009
Leave a Reply