Final Look 2022: The Massachusetts Private Passenger Auto Insurance Marketplace

For our last look of 2022 with respect to the current state of the of the Private Passenger Automobile Insurance marketplace, the numbers reflect market share data as of September 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.

The Private Passenger Auto Insurance Marketplace

Exposures & Market Share as of September 2022

Company	Exposures	Market Share
1. COMMERCE	795,196	20.97%
2. GEICO	617,354	16.28%
3. ARBELLA	294,375	7.76%
4. SAFETY	291,526	7.69%
5. LIBERTY MUTUAL	290,094	7.65%
6. PLYMOUTH ROCK	250,210	6.60%
7. PROGRESSIVE	235,890	6.22%
8. STANDARD FIRE	171,230	4.51%
9. U S A A	139,314	3.67%
10. HANOVER	109,931	2.90%
11. AMICA MUTUAL	105,749	2.79%
12. METROPOLITAN	98,722	2.60%
13. ALLSTATE	77,958	2.06%
14. QUINCY MUTUAL	62,673	1.65%
15. NORFOLK AND DEDHAM MUTUAL	48,864	1.29%
16. AMERICAN FAMILY	47,719	1.26%
17. VERMONT MUTUAL	40,176	1.06%
18. FOREMOST	18,241	0.48%
19. STATE FARM	16,576	0.44%
20. PREFERRED MUTUAL	13,054	0.34%
21. GREEN MOUNTAIN	12,718	0.34%
22. BANKERS STANDARD	10,124	0.27%
23. PURE	9,995	0.26%
24. TRUMBULL	8,559	0.23%
25. ELECTRIC	7,501	0.20%
26. FARM FAMILY	6,087	0.16%
27. CINCINNATI	4,883	0.13%
28. MARKEL AMERICAN	2,990	0.08%
29. AMERICAN INTERNATIONAL	1,954	0.05%
30. MIDDLESEX	1,149	0.03%
31. TOKIO	915	0.02%
32. HARLEYSVILLE WORCESTER	743	0.02%
33. AMERICAN BANKERS	111	0.00%
34. AMERICAN FAMILY HOME	64	0.00%
35. FIREMEN’S INS CO	12	0.00%
TOTAL	3,792,657	100.00%

The Marketplace in Massachusetts by Exposures and Market Share Over The Years

While it may appear that little changes in the Massachusetts private passenger auto insurance marketplace from our bi-monthly reports, looks can often be a bit deceiving. In retrospect, a lot has changed over the past decade since Agency Checklists first began publishing its bi-monthly updates as can be seen in the snapshots provided below.

For example:

MAPFRE (Commerce), which is celebrating its 50th Anniversary this year, continues to be the number one Private Passenger Auto Insurance in Massachusetts with a 20.97% as of September 2022. Five years ago in September 2017, the insurer had a market share of 25.5%, while 10 years ago in July 2012, it was 28.0%
As for GEICO, the direct writer continues as the second largest private passenger insurer in the Commonwealth with a 16.2% market share. Just five years ago, however, GEICO was the third largest insurer with a 10.2% market share as of September 2017. Looking back to July 2012, it was ranked the 10th largest with just a 2.9% market share in Massachusetts.
Liberty Mutual continues as the third largest auto insurance writer with a 7.8% share of the marketplace. This is slightly less that the market share it held as of September 2017, when it held a 9.9% market share. In July 2012, it was also the second-largest writer with a 11.8% market share.
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 July 2022, the top 10 insurers have a combined market share of 84.20%.

The following are graphs for September 2022, followed by five years earlier in September 2017, and then finally from a decade ago in September 2012. Below these, there are now added side by side comparisons (viewd by sliding the arrows over the graphs) which allows for further comparisons. Unlike updates in previous years, all of the past years included in this review have now been after the advent of “Managed Competition”.