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
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 and 4th Looks and continues to do so in this last look of the year.
Arbella has also increased its market share as well in the line of business with an 11.36% market share.
The following is a complete list of all the Commercial Auto Insurers in Massachusetts, ranked by premiums as of September 2019:
| COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|
| 1. SAFETY | 109,267,000 | 15.40% |
| 2. COMMERCE | 102,699,423 | 14.48% |
| 3. ARBELLA | 80,557,836 | 11.36% |
| 4. TRAVELERS | 52,628,437 | 7.42% |
| 5. PLYMOUTH ROCK | 38,998,148 | 5.50% |
| 6. TOKIO MARINE & NACHIDO | 32,485,006 | 4.58% |
| 7. LIBERTY MUTUAL INS | 31,670,695 | 4.46% |
| 8. PROGRESSIVE | 30,934,442 | 4.36% |
| 9. HANOVER | 25,529,989 | 3.60% |
| 10. FIREMAN’S | 24,769,673 | 3.49% |
| 11. ZURICH | 15,716,411 | 2.22% |
| 12. SELECTIVE INSURANCE | 12,605,210 | 1.78% |
| 13. UTICA | 12,257,100 | 1.73% |
| 14. TWIN CITY FIRE INS | 12,008,666 | 1.69% |
| 15. NATIONAL GRANGE | 10,909,804 | 1.54% |
| 16. GREAT AMERICAN | 9,054,321 | 1.28% |
| 17. OLD REPUBLIC | 7,894,988 | 1.11% |
| 18. EMPLOYERS MUTUAL | 6,961,770 | 0.98% |
| 19. AMERICAN CASUALTY | 6,604,633 | 0.93% |
| 20. ARGONAUT INSURANCE COMPANY | 6,451,687 | 0.91% |
| 21. FARM FAMILY | 6,041,835 | 0.85% |
| 22. FEDERAL | 5,928,403 | 0.84% |
| 23. FEDERATED MUTUAL | 5,427,563 | 0.77% |
| 24. N&D MUTUAL | 5,296,109 | 0.75% |
| 25. US FIRE | 4,700,435 | 0.66% |
| 26. BANKERS | 3,872,529 | 0.55% |
| 27. AMERICAN ALTERNATIVE | 3,610,995 | 0.51% |
| 28. HARLEYSVILLE INS | 3,499,471 | 0.49% |
| 29. GREEN MOUNTAIN | 3,265,798 | 0.46% |
| 30. QUINCY MUTUAL | 3,251,786 | 0.46% |
| 31. CENTRAL MUTUAL INS | 3,216,921 | 0.45% |
| 32. MERCH MUTUAL | 2,800,510 | 0.39% |
| 33. MIDDLESEX INS CO | 2,669,388 | 0.38% |
| 34. NEW HAMPSHIRE | 2,579,118 | 0.36% |
| 35. NEW YORK AND GENERAL INS | 2,468,015 | 0.35% |
| 36. MOTORISTS | 2,192,341 | 0.31% |
| 37. PROTECTIVE INS | 2,128,677 | 0.30% |
| 38. STARR INDEMNITY | 2,111,618 | 0.30% |
| 39. ARCH INS | 1,648,541 | 0.23% |
| 40. PREFERRED MUTUAL | 1,611,946 | 0.23% |
| 41. LANCER INSURANCE CO. | 1,573,990 | 0.22% |
| 42. STATE AUTO | 1,455,513 | 0.21% |
| 43. ATLANTIC SPECIALTY | 987,122 | 0.14% |
| 44. GREENWICH INS | 809,858 | 0.11% |
| 45. SOMPO JAPAN INS | 682,585 | 0.10% |
| 46. CHURCH MUTUAL | 629,840 | 0.09% |
| 47. AMERICAN AUTOMOBILE | 602,802 | 0.08% |
| 48. PENN MNFCT ASSC INS | 562,538 | 0.08% |
| 49. EVEREST NATIONAL | 516,284 | 0.07% |
| 50. ALLIED WORLD SPECIALTY | 434,999 | 0.06% |
| 51. QBE | 393,272 | 0.06% |
| 52. STARSTONE NATIONAL | 371,843 | 0.05% |
| 53. AXIS INSURANCE CO | 328,862 | 0.05% |
| 54. MITSUI SUMITOMO | 302,262 | 0.04% |
| 55. BERKSHIRE HATHAWAY | 252,600 | 0.04% |
| 56. AMICA MUTUAL | 210,902 | 0.03% |
| 57. RLI INS | 202,027 | 0.03% |
| 58. GUIDE ONE MUTUAL | 197,836 | 0.03% |
| 59. SECURITY NATIONAL | 156,334 | 0.02% |
| 60. HARCO NATIONAL | 130,832 | 0.02% |
| 61. STATE FARM | 67,143 | 0.01% |
| 62. PENN LUMBERMENS | 60,036 | 0.01% |
| 63. MARKEL | 56,398 | 0.01% |
| 64. CUMIS INS SOCIETY | 48,106 | 0.01% |
| 65. THE CINCINNATI INS | 43,448 | 0.01% |
| 66. T.H.E INSURANCE CO | 37,748 | 0.01% |
| 67. HDI GLOBAL INS | 3,161 | 0.00% |
| 68. AMERICAN FAMILY | 597 | 0.00% |
| 709,446,176 | 100.00% |
Graphs from September 2019, September 2014, and September 2009 depicting the evolution of this marketplace over the past decade
September 2019
September 2014
September 2004
