• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Contact Us
  • Sponsor An Email
  • Post A Job
  • Merger & Acquisition Services

Agency Checklists

Massachusetts Insurance News & Job Opportunities

You are here: Home / Insurance News | Massachusetts / Massachusetts Auto Insurance News | Commonwealth Automobile Reinsurers / First Look 2020: The Private Passenger Auto Insurance Marketplace in Massachusetts

First Look 2020: The Private Passenger Auto Insurance Marketplace in Massachusetts

February 4, 2020 by Agency Checklists

Our bi-monthly look at this highly competitive marketplace begins again

While this is technically Agency Checklists’ first look at the private passenger marketplace in 2020, all of the tables and graphs being reviewed here focus on the penultimate month of 2019, November, as this represents the latest date for which complete data on this marketplace is available.

As always, the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers, the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

An overview of the private passenger marketplace in Massachusetts

Since no new data has been issued by the Division of Insurance (2017) with respect to the official state of the Private Passenger Auto Insurance Marketplace in Massachusetts, we have not yet updated this market share data.

Largest Auto Insurer Writers in Massachusetts
  • 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

For those interested in reviewing or comparing this marketplace with the Private Passenger Auto Insurance Marketplace as a whole, as well as a ranking of the largest insurers by Direct Written Premium and market share, please refer to the following Market Share Reports, Agency Checklists has published:

  • NAIC 2019 Market Share Report: The Top 25 Private Passenger Auto Insurance Companies In The U.S.
  • 2019 MA Market Share Report: The Top Private Passenger Auto Insurers in Massachusetts
  • 1st Look 2019 – The 2019 Private Passenger Auto Insurance Marketplace In Massachusetts
  • 2nd Look 2019: The Private Passenger Auto Insurance Marketplace In Massachusetts
  • 3rd Look 2019: The Private Passenger Auto Insurance Marketplace In Massachusetts
  • 4th Look 2019: The Private Passenger Auto Insurance Marketplace in Massachusetts
  • Last Look 2019: The Private Passenger Auto Insurance Marketplace in Massachusetts

Shift and trends of note during this latest look at the private passenger auto insurance marketplace

The major trend we have been tracking in the private passenger auto insurance marketplace is GEICO’s continuing growth as the second-largest private passenger auto insurer in Massachusetts. This latest update confirms the insurers continued upward trend in the Commonwealth.

In looking at the CAR Reports from January of 2019 through November 2019, the on-line direct writer started the year with a 10.75% market share increasing to 13.51% as of November.

As for the Commonwealth’s largest insurer, MAPFRE/Commerce, the Webster-based company had a 24.59% market share at the end of 2018 representing a healthy lead over the second-place GEICO. As of November 2019, it appears that while the Webster-based insurer may have ceded some percentage points, it more or less has been able to maintain its market share this past year.

COMPANY NAMEEXPOSURESMARKET SHARE
1. COMMERCE/MAPFRE1,037,498 23.53%
2. GEICO 595,709 13.51%
3. SAFETY 382,969 8.69%
4. LIBERTY MUTUAL 379,603 8.61%
5. ARBELLA 346,040 7.85%
6. PLYMOUTH ROCK 278,260 6.31%
7. PROGRESSIVE 210,003 4.76%
8. U S A A 160,516 3.64%
9. STANDARD FIRE 151,472 3.44%
10. METROPOLITAN 144,823 3.28%
11. AMICA MUTUAL 140,920 3.20%
12. HANOVER 130,141 2.95%
13. QUINCY MUTUAL 73,826 1.67%
14. ALLSTATE 72,346 1.64%
15. NORFOLK AND DEDHAM MUTUAL 52,549 1.19%
16. VERMONT MUTUAL 50,292 1.14%
17. NATIONAL GRANGE 40,342 0.92%
18. PREFERRED MUTUAL 28,058 0.64%
19. OCCIDENTAL INS 22,660 0.51%
20. STATE FARM 18,203 0.41%
21. GREEN MOUNTAIN 14,442 0.33%
22. INTEGON 13,681 0.31%
23. BANKERS STANDARD 12,140 0.28%
24. IDS 10,736 0.24%
25. ELECTRIC 9,874 0.22%
26. ESURANCE 9,278 0.21%
27. PURE 8,123 0.18%
28. FARM FAMILY 7,366 0.17%
29. AMERICAN INTERNATIONAL 3,354 0.08%
30. TRUMBULL 1,837 0.04%
31. HARLEYSVILLE WORCESTER 1,698 0.04%
32. MIDDLESEX 8 0.00%
TOTAL 4,408,769 100%

The Private Passenger Auto Insurance Marketplace’s shifts and trends over the decade…

In order to give some perspective on the shifts in the marketplace over the past decade, the following three graphs depict the Top Ten Private Passenger insurers as of November 2019, followed by a graph from five years ago in November 2014, as well as another one from ten years ago in November 2009.

The goal is to present a perspective on how the Massachusetts automobile insurance market has shifted during the past five and ten years, which includes the second year of “Managed Competition.”


November 2019


Private Passenger Auto Insurers Market Share in Massachusetts

November 2014


Private Passenger Auto Insurers Market Share in Massachusetts

November 2009


Private Passenger Auto Insurers Market Share in Massachusetts
Print Friendly, PDF & Email

Filed Under: Massachusetts Auto Insurance News | Commonwealth Automobile Reinsurers, News | Miscellaneous 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?

Primary Sidebar

Sponsored

Sponsored

DOI Announcements

Latest Agency Sales

Accretive Announces Acquisition of Platinum Worksite Benefits

Agency Checklists, MA Insurance Jobs, Hub International, MA Insurance News, Mass. Insurance News, MA Insurance Jobs

Hub Expands Stop Loss Services With Mass-based Stop Loss Insurance Brokers

Massagent insurance aquisitions, Hilb Group

The Hilb Group Acquires King & Cushman

Alera Group Expands Into Vermont with Acquisition of Noyle Johnson Group

More Agency Sales

Career News

Corvus Insurance Names Madhu Tadikonda as New CEO to Lead Accelerated InsurTech Growth and Global Expansion

Alexander & Schmidt Names John Natale Its New Chief Executive Officer

Agency Checklists, MA Insurance News, Mass. Insurance News, Liberty Mutual, Liberty Mutual Life Assurance Co of Boston, top insurers in Massachusetts, largest Mass. P&C insurance carriers,

Liberty Mutual Insurance Appoints Two New Underwriting Leaders to Global Risk Solutions to Better Serve Commercial Customers

Plymouth Rock Appoints New Chief Operating Officer

Insurance Executive Hires Leading Renaissance Alliance

Renaissance Alliance Promotes Insurance Industry Leader Bob Bondi as CEO

In Memoriam

In Memoriam: William J. “Bill” Waldron, 1929-2022

In Memoriam: Christine Anastasi, 1951-2022

In Memoriam: Christine Anastasi, 1951-2022

In Memoriam: Joan D. Small, 1928-2022

In Memoriam: Joan D. Small, 1928-2022

CAR News

4th Look: The Private Passenger Auto Insurance Marketplace in Massachusetts

Eastern Insurance Group LLC Acquires Operating Assets of John T. Burns Insurance Agency, Inc.

Two Governing Committee Seats Freed Up For Independent Agents At CAR

Right to Repair Group Files Amicus Brief & Urges Prompt Ruling on Ballot Question After 1 Year Delay

View More CAR News

Massachusetts Law Updates

New Rule Would Make Insurers Pay Insured For Preventing An Insured Loss

New Rule Would Make Insurers Pay Insured For Preventing An Insured Loss

A formal request by Federal Appeals Court to the SJC to decide if insurers owe costs to prevent a covered loss.

Front view of the Quincy Mass. Masonic Temple with Roman Columns

Confused Voicemail Leads to E&O and Coverage Suits

SJC Construed For 1st Time Meaning of “Doing Business As” In Relation to CGL Coverage.

5 Points On New Ruling: Unreasonable Storage Reduces ACV Payment

A short opinion with a disproportionate impact on first-party property damage total loss claims.

Agency Checklist article on COVID-19 Closings in Massachusetts

First State High-Court COVID-19 Decision On Business Interruption Claims

Dismissed by Superior Court, the restaurants took their appeal directly to the SJC.

More Mass. Law Updates

DOI News

The 2022 Home Insurance Report Part III | Policy Numbers by Massachusetts County

The 2022 MA Home Insurance Report Part II | MA FAIR Plan Review

The 2022 MA Home Insurance Report | Part I

Mass. Business Entity License Renewals on Hold

View More DOI News

Insurance Fraud

Agency President Sentenced for Embezzling $300,000 In Insurance Premiums

Quinn Group Ins. Owner’s Trial to Begin on Federal Benefit and Social Security Fraud Today

First Guilty Plea in No-Fault PIP Auto Insurance Fraud Scheme

GM Financial Will Pay Over $1.8 Million For GAP Coverage Refunds and Loan Violations

More Insurance Fraud News

Footer

Agency Checklists

About us
Contact us

14 Summer Street
Suite 102
Malden, MA 02148
617-598-3800

Advertise on Agency Checklists

We offer a variety of ways to get help promote your company or product.

Announcements
Email Sponsorships
Partnerships
Custom Collaborations

*Affiliate Disclosure

Please note that any of Agency Checklists’ articles might contain one or more affiliate links. This means that any subsequent purchase resulting from these links may result in a commission for us, but at no additional cost to you. For example, as an Amazon Associate, Agency Checklists earns a commission from all qualifying purchases. By working with affiliates we can continue to keep Agency Checklists subscription free. Thank you for your support.

SEARCH OUR SITE

Explore Our Archives

Copyright © 2022 · Agency Checklists · All rights reserved.

 

Loading Comments...