3rd Look 2022: The MA Commercial Auto Insurance Marketplace

This marks the third installment of Agency Checklists’ latest bi-monthly update on the current state of the Commercial Auto Insurance marketplace in Massachusetts. Every two months, Agency Checklists reports on the latest data to give a snapshot of the current state of the Commercial Automobile insurance marketplace in Massachusetts.

As always, all of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through March 2022. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

The Current State of the Commercial Auto Insurance Marketplace

According to the latest data on the Commercial Auto Insurance marketplace in the Commonwealth, there are currently 193 companies that are licensed to write commercial auto insurance.

Turning to the most active commercial auto insurers in the state, seven of the top 10 commercial auto carriers operating in the Commonwealth continue to be headquartered in Massachusetts. The following is the complete list of Commercial Auto insurers with a major market share in Massachusetts through March 2022.

Highlights from this latest report are as follows:

While our Second Look reported only 47 commercial insurers appearing on the list for the January 2022 market share look, as of March 2022, the number of commercial auto insurers has increased to 67.
MAPFRE/Commerce continues to be the top commercial auto insurer in the Commonwealth with $37,901,403 in premiums after the first three months of 2022 representing a 14.58% market share.

The following is the most current list of insurers ranked by premiums and market share:

Commercial Auto Insurers in the Massachusetts Marketplace

COMPANY	PREMIUMS	MARKET SHARE
1. COMMERCE	37,901,403	14.58%
2. SAFETY	33,324,553	12.82%
3. ARBELLA	29,174,344	11.22%
4. PROGRESSIVE	23,636,481	9.09%
5. TRAVELERS	19,201,670	7.39%
6. PLYMOUTH ROCK	13,209,511	5.08%
7. TOKIO MARINE & NACHIDO	10,385,450	4.00%
8. FIREMAN’S	10,157,292	3.91%
9. HANOVER	7,757,980	2.98%
10. ZURICH	6,255,641	2.41%
11. SELECTIVE INSURANCE	6,191,163	2.38%
12. LIBERTY MUTUAL INS	5,564,250	2.14%
13. TWIN CITY FIRE INS	5,098,419	1.96%
14. UTICA	4,509,391	1.73%
15. NATIONAL GRANGE	3,911,400	1.50%
16. AMERICAN CASUALTY	2,979,791	1.15%
17. EMPLOYERS MUTUAL	2,958,774	1.14%
18. GREEN MOUNTAIN	2,819,369	1.08%
19. GREAT AMERICAN	2,769,962	1.07%
20. OLD REPUBLIC	2,705,582	1.04%
21. FARM FAMLY	2,646,631	1.02%
22. N&D MUTUAL	2,423,561	0.93%
23. FEDERAL	2,206,299	0.85%
24. NEW HAMPSHIRE	2,141,389	0.82%
25. CENTRAL MUTUAL INS	1,854,652	0.71%
26. FEDERATED MUTUAL	1,808,833	0.70%
27. BANKERS	1,587,665	0.61%
28. MERCH MUTUAL	1,497,316	0.58%
29. CINCINNATI	1,339,531	0.52%
30. ARCH	1,325,659	0.51%
31. US FIRE	1,307,512	0.50%
32. HARLEYSVILLE INS	1,086,529	0.42%
33. QUINCY MUTUAL	1,000,109	0.38%
34. MIDDLESEX INS CO	898,829	0.35%
35. MOTORISTS	690,309	0.27%
36. PREFERRED MUTUAL	639,861	0.25%
37. STATE AUTO	543,916	0.21%
38. LANCER INSURANCE CO.	543,832	0.21%
39. IMPERIUM	505,815	0.19%
40. GEICO	454,808	0.17%
41. NEW YORK AND GENERAL INS	368,853	0.14%
42. ALLSTATE	302,157	0.12%
43. ATLANTIC SPECIALTY	246,434	0.09%
44. PENN MNFCT ASSC INS	238,066	0.09%
45. ARGONAUT	236,127	0.09%
46. EVEREST NATIONAL	207,035	0.08%
47. CHURCH MUTUAL	183,280	0.07%
48. SOMPO AMERICA	180,499	0.07%
49. STARR INDEMNITY	166,320	0.06%
50. PENN LUMBERMENS	144,429	0.06%
51. GREENWICH	112,822	0.04%
52. AXIS REINSURANCE	66,040	0.03%
53. RLI	65,631	0.03%
54. AMERICAN AUTOMOBILE	59,294	0.02%
55. SECURITY NATIONAL	53,539	0.02%
56. AMICA MUTUAL	52,018	0.02%
57. PROTECTIVE	48,907	0.02%
58. BERKSHIRE HATHAWAY	42,508	0.02%
59. QBE	30,193	0.01%
60. HDI GLOBAL	26,383	0.01%
61. CUMIS	25,501	0.01%
62. GUIDEONE MUTUAL	19,188	0.01%
63. MITSUI SUMITOMO	17,757	0.01%
64. FALLS LAKE	15,390	0.01%
65. STATE FARM	7,765	0.00%
66. ALLIED WORLD SPECIALTY	2,092	0.00%
67. AMERICAN HALLMARK	421	0.00%
TOTALS	259,934,131

Focus on the Top Ten Commercial Auto Insurers Over the Years

In order to give some perspective on the shifts in the Marketplace, the three graphs below present the Top Ten Commercial Auto insurers for the month of March 2022, followed by comparisons of past top ten data from five years earlier in March 2017, and then finally from a decade ago in March 2012.

March 2022

March 2017

March 2012

Past Market Share Reports

For those interested in reviewing all of our bi-monthly updates throughout 2020 and 2021, in order to get a sense of how the Commercial Auto Insurance marketplace continues to evolve, please find links to Agency Checklists’ previous updates below: