As with our review of the private passenger auto insurance marketplace, Agency Checklists’ first update of 2020 on the current state of the commercial automobile insurance marketplace takes a look at the penultimate month of 2019, the last date for which complete data is available.
All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market as of November 2019. 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
- 4th Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
- Last Look 2019 – The Commercial Auto Insurance Marketplace in Massachusetts
Over the year, Safety and MAPFRE/Commerce have continued 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 continued to do so for the rest of the year.
For those who are interested, the following is a complete list of all the Commercial Auto Insurers in Massachusetts, ranked by premiums as of November 2019:
| COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|
| 1. SAFETY | 130,991,453 | 15.35% |
| 2. COMMERCE | 128,122,831 | 15.01% |
| 3. ARBELLA | 94,605,578 | 11.09% |
| 4.TRAVELERS | 62,902,656 | 7.37% |
| 5. PLYMOUTH ROCK | 46,410,188 | 5.44% |
| 6. PROGRESSIVE | 39,357,866 | 4.61% |
| 7. LIBERTY MUTUAL INS | 38,991,533 | 4.57% |
| 8. TOKIO MARINE & NACHIDO | 36,417,513 | 4.27% |
| 9. FIREMAN’S | 31,351,146 | 3.67% |
| 10. HANOVER | 30,369,315 | 3.56% |
| 11. ZURICH | 19,708,087 | 2.31% |
| 12. UTICA | 15,183,822 | 1.78% |
| 13. TWIN CITY FIRE INS | 14,774,815 | 1.73% |
| 14. SELECTIVE INSURANCE | 14,574,520 | 1.71% |
| 15. NATIONAL GRANGE | 13,378,332 | 1.57% |
| 16. GREAT AMERICAN | 9,941,451 | 1.16% |
| 17. FEDERAL | 8,571,307 | 1.00% |
| 18. EMPLOYERS MUTUAL | 8,212,085 | 0.96% |
| 19. AMERICAN CASUALTY | 8,089,731 | 0.95% |
| 20. OLD REPUBLIC | 7,894,988 | 0.93% |
| 21. ARGONAUT INSURANCE COMPANY | 7,118,914 | 0.83% |
| 22. FARM FAMILY | 6,987,889 | 0.82% |
| 23. FEDERATED MUTUAL | 6,911,170 | 0.81% |
| 24. N&D MUTUAL | 6,325,629 | 0.74% |
| 25. US FIRE | 5,793,754 | 0.68% |
| 26. BANKERS | 5,531,061 | 0.65% |
| 27. HARLEYSVILLE INS | 4,334,144 | 0.51% |
| 28. GREEN MOUNTAIN | 4,312,569 | 0.51% |
| 29. QUINCY MUTUAL | 3,873,765 | 0.45% |
| 30. AMERICAN ALTERNATIVE | 3,610,995 | 0.42% |
| 31. CENTRAL MUTUAL INS | 3,504,810 | 0.41% |
| 32. NEW HAMPSHIRE | 3,244,957 | 0.38% |
| 33. MERCH MUTUAL | 3,170,801 | 0.37% |
| 34. MIDDLESEX INS CO | 2,939,745 | 0.34% |
| 35. PROTECTIVE INS | 2,538,424 | 0.30% |
| 36. MOTORISTS | 2,522,111 | 0.30% |
| 37. STARR INDEMNITY | 2,420,798 | 0.28% |
| 38. NEW YORK AND GENERAL INS | 2,025,401 | 0.24% |
| 39. PREFERRED MUTUAL | 1,995,367 | 0.23% |
| 40. STATE AUTO | 1,821,767 | 0.21% |
| 41. LANCER INSURANCE CO. | 1,720,889 | 0.20% |
| 42. ARCH INS | 1,648,541 | 0.19% |
| 43. ATLANTIC SPECIALTY | 1,096,124 | 0.13% |
| 44. AMERICAN AUTOMOBILE | 868,299 | 0.10% |
| 45. GREENWICH INS | 841,103 | 0.10% |
| 46. SOMPO JAPAN INS | 682,585 | 0.08% |
| 47. PENN MNFCT ASSC INS | 644,766 | 0.08% |
| 48. CHURCH MUTUAL | 629,840 | 0.07% |
| 49. SECURITY NATIONAL | 529,538 | 0.06% |
| 50. EVEREST NATIONAL | 516,284 | 0.06% |
| 51. ALLIED WORLD SPECIALTY | 434,999 | 0.05% |
| 52. QBE | 423,664 | 0.05% |
| 53. STARSTONE NATIONAL | 371,843 | 0.04% |
| 54. AXIS INSURANCE CO | 328,862 | 0.04% |
| 55. MITSUI SUMITOMO | 302,262 | 0.04% |
| 56. BERKSHIRE HATHAWAY | 261,407 | 0.03% |
| 57. AMICA MUTUAL | 248,800 | 0.03% |
| 58. THE CINCINNATI INS | 228,047 | 0.03% |
| 59. RLI INS | 202,027 | 0.02% |
| 60. GUIDE ONE MUTUAL | 197,836 | 0.02% |
| 61. HARCO NATIONAL | 130,832 | 0.02% |
| 62. STATE FARM | 74,461 | 0.01% |
| 63. PENN LUMBERMENS | 59,742 | 0.01% |
| 64. MARKEL | 59,173 | 0.01% |
| 65. CUMIS INS SOCIETY | 48,106 | 0.01% |
| 66. T.H.E INSURANCE CO | 37,748 | 0.00% |
| 67. HDI GLOBAL INS | 7,424 | 0.00% |
| 68. AMERICAN FAMILY | 597 | 0.00% |
Graphs from November 2019, November 2014, and November 2009 depicting the evolution of this marketplace over the past decade
NOVEMBER 2019
NOVEMBER 2014
NOVEMBER 2009
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