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

Our bi-monthly update takes a look at CAR Data through May 2022

The latest data on the current state of the Private Passenger Automobile Insurance marketplace is now available. The numbers reflect market share data as of May 2022, the latest date for which complete data is available.

As always, many thanks to the Commonwealth Automobile Reinsurers which acts as the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts and provides Agency Checklists with all the data presented here.

A breakdown of the Marketplace in Massachusetts by Exposures and Market Share

A breakdown of the Marketplace in Massachusetts by Exposures and Market Share:

MAPFRE (Commerce), which is celebrating its 50th Anniversary, continues to be the number one Private Passenger Auto Insurance in Massachusetts with a 20.74% as of May 2022.
GEICO continues as the second largest PPA insurer in the Commonwealth increasing its market share to 16.43% while Liberty Mutual surpasses Safety as the third-largest insurer with an 8.20% market share versus Safety’s 7.80%.
Six of the top 10 Private Passenger insurers continued to be based in Massachusetts: MAPFRE; Liberty Mutual; Safety; Arbella; Plymouth Rock; and The Hanover.
As of May 2022, the top 10 insurers have a combined market share of 84.61%.

The Current State of the Private Passenger Auto Insurance Marketplace in Massachusetts

Company Name	Exposures	Market Share
1. COMMERCE	440,561	21.03%
2. GEICO	344,196	16.43%
3. LIBERTY MUTUAL	171,764	8.20%
4. SAFETY	163,482	7.80%
5. ARBELLA	159,693	7.62%
6. PLYMOUTH ROCK	137,557	6.57%
7. PROGRESSIVE	132,247	6.31%
8. STANDARD FIRE	95,711	4.57%
9. U S A A	69,416	3.31%
10. HANOVER	57,995	2.77%
11. AMICA MUTUAL	54,970	2.62%
12. METROPOLITAN	54,794	2.62%
13. ALLSTATE	43,036	2.05%
14. QUINCY MUTUAL	34,960	1.67%
15. NORFOLK AND DEDHAM MUTUAL	26,215	1.25%
16. AMERICAN FAMILY	25,734	1.23%
17. VERMONT MUTUAL	21,790	1.04%
18. ZURICH	9,414	0.45%
19. STATE FARM	7,834	0.37%
20. PREFERRED MUTUAL	7,188	0.34%
21. GREEN MOUNTAIN	7,094	0.34%
22. PURE	5,742	0.27%
23. BANKERS STANDARD	5,061	0.24%
24. TRUMBULL	4,549	0.22%
25. ELECTRIC	4,201	0.20%
26. FARM FAMILY	3,322	0.16%
27. CINCINNATI	2,281	0.11%
28. MARKEL AMERICAN	1,553	0.07%
29. AMERICAN INTERNATIONAL	1,036	0.05%
30. MIDDLESEX	639	0.03%
31. TOKIO	538	0.03%
32. HARLEYSVILLE WORCESTER	415	0.02%
33. AMERICAN BANKERS	31	0.00%
34. FIREMEN’S INS CO	21	0.00%
35. AMERICAN FAMILY HOME	2	0.00%

Focus on the Insurers with Top 10 Market Share

The following three graphs depict the Top Ten Private Passenger Insurers for during the month of May in 2022, followed by the same graph for the same month, from five years earlier in March 2017, and then finally from a decade ago in March 2012.

Together, they provide an opportunity for a side-by-side comparison of how the Private Passenger Auto Insurance Marketplace is evolving. Unlike past updates, all of the past years included in this review have now been after the advent of “Managed Competition”.