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:
