4th Look 2022: The Massachusetts Commercial Auto Insurance Marketplace

This is the fourth installment of Agency Checklists’ 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 May 2022. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

MAPFRE Still Tops in Massachusetts

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

As confirmed in our latest New England Market Share Report using data published by the NAIC, MAPFRE continues as the largest commercial auto liability insurer in Massachusetts during 2022. As of May 2022, it had $63,541,251 in premiums representing a 14.43% market share.

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 May 2022.

The Commercial Auto Marketplace in Massachusetts as of May 2022

LIBERTY MUTUAL INSCOMPANY	PREMIUMS	MARKET SHARE
1. MAPFRE/COMMERCE	63,541,251	14.43%
2. SAFETY	59,606,121	13.54%
3. ARBELLA	49,372,656	11.22%
4. PROGRESSIVE	38,621,852	8.77%
5. TRAVELERS	34,463,023	7.83%
6. PLYMOUTH ROCK	22,993,920	5.22%
7. FIREMAN’S	18,197,641	4.13%
8. TOKIO MARINE & NACHIDO	14,081,991	3.20%
9. LIBERTY MUTUAL INS	13,715,584	3.12%
10. HANOVER	12,973,635	2.95%
11. ZURICH	12,203,072	2.77%
12. SELECTIVE INSURANCE	10,283,669	2.34%
13. UTICA	8,010,785	1.82%
14. TWIN CITY FIRE INS	7,728,772	1.76%
15. NATIONAL GRANGE	6,885,091	1.56%
16. EMPLOYERS MUTUAL	5,029,528	1.14%
17. GREEN MOUNTAIN	4,707,335	1.07%
18. FARM FAMILY	4,407,589	1.00%
19. AMERICAN CASUALTY	4,342,496	0.99%
20. FEDERAL	4,140,679	0.94%
21. FEDERATED MUTUAL	4,024,058	0.91%
22. N&D MUTUAL	3,764,765	0.86%
23. CENTRAL MUTUAL INS	3,319,620	0.75%
24. GREAT AMERICAN	3,295,826	0.75%
25. US FIRE	2,906,129	0.66%
26. BANKERS	2,852,525	0.65%
27. NEW HAMPSHIRE	2,782,393	0.63%
28. OLD REPUBLIC	2,747,346	0.62%
29. MERCH MUTUAL	2,301,567	0.52%
30. HARLEYSVILLE INS	1,738,049	0.39%
31. QUINCY MUTUAL	1,618,058	0.37%
32. MIDDLESEX INS CO	1,520,797	0.35%
33. CINCINNATI	1,339,531	0.30%
34. ARCH	1,325,659	0.30%
35. MOTORISTS	1,075,229	0.24%
36. PREFERRED MUTUAL	1,051,033	0.24%
37. NEW YORK AND GENERAL INS	889,671	0.20%
38. LANCER INSURANCE CO.	880,756	0.20%
39. STATE AUTO	869,070	0.20%
40. ATLANTIC SPECIALTY	545,720	0.12%
41. IMPERIUM	505,815	0.11%
42. ALLSTATE	485,733	0.11%
43. GEICO	442,856	0.10%
44. PENN MNFCT ASSC INS	295,761	0.07%
45. ARGONAUT	236,127	0.05%
46. PENN LUMBERMENS	233,363	0.05%
47. GREENWICH	207,823	0.05%
48. EVEREST NATIONAL	207,035	0.05%
49. CHURCH MUTUAL	183,280	0.04%
50. SOMPO AMERICA	180,498	0.04%
51. AMERICAN AUTOMOBILE	173,117	0.04%
52. STARR INDEMNITY	166,320	0.04%
53. PROTECTIVE	145,499	0.03%
54. AMICA MUTUAL	76,508	0.02%
55. AXIS REINSURANCE	66,040	0.02%
56. RLI	65,631	0.01%
57. QBE	64,616	0.01%
58. BERKSHIRE HATHAWAY	63,098	0.01%
59. SECURITY NATIONAL	53,539	0.01%
60. MARKEL AMERICAN	39,873	0.01%
61. STATE FARM	27,365	0.01%
62. HDI GLOBAL	26,383	0.01%
63. CUMIS	25,501	0.01%
64. GUIDEONE MUTUAL	19,188	0.00%
65. MITSUI SUMITOMO	17,757	0.00%
66. FALLS LAKE	15,390	0.00%
67. STARSTONE NATIONAL	14,662	0.00%
68. ALLIED WORLD SPECIALTY	2,092	0.00%
69. AMERICAN HALLMARK	421	0.00%
TOTAL	440,195,783	100.00%

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 May 2022, followed by comparisons of past top ten data from five years earlier in May 2017, and then finally from a decade ago in May 2012.

May 2022

May 2017

May 2012

Past Market Share Reports

For those interested in reviewing all of our bi-monthly updates throughout 2022 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: