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You are here: Home / Insurance News | Massachusetts / Massachusetts Auto Insurance News | Commonwealth Automobile Reinsurers / 4th Look 2019: The Commercial Auto Insurance Marketplace In Massachusetts

4th Look 2019: The Commercial Auto Insurance Marketplace In Massachusetts

October 8, 2019 by Agency Checklists

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.

The largest commercial auto insurers in Massachusetts
  • 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:

COMPANYPREMIUMSMARKET 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%
TOTAL563,392,121 100.00%

Graphs from July 2019, July 2014, and July 2009 depicting the evolution of this marketplace over the past decade

July 2019

Graph courtesy of the Commonwealth Automobile Reinsurers

July 2014

<em>Graph courtesy of the Commonwealth Automobile Reinsurers<em>

July 2009

<em>Graph courtesy of the Commonwealth Automobile Reinsurers<em>

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Filed Under: Massachusetts Auto Insurance News | Commonwealth Automobile Reinsurers Tagged With: Agency Checklists, Agency Checklists' CAR Market Share Reports, insurance in Massachusetts, massachusetts insurance news, New England insurance companies, Who are the largest auto insurance companies in Massachusetts, Who are the largest insurers in the US? Commonwealth Automobile Reinsurers in Massachusetts, Who writes auto insurance companies in Massachusetts?

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