Bi-Monthly CAR Update: The MA Commercial Auto Insurance Marketplace

Agency Checklists’ first update of the year, with respect to the current state of the Commercial Auto Insurance marketplace in Massachusetts, reviews the data for this lines of insurance as of November 2022, the latest date for which complete data is currently avaialble.

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 in order for our readers to get a better sense of the trends and movements happening within this line of insurance.

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

So, without further ado, a look at the latest data points:

Four thoughts from this month’s update:

Commerce and Safety continue to occupy the largest market shares of the Commercial Auto Insurance marketplace with a 13.84% and 12.64% respectively. Combined, they claim a just over a quarter share of the entire market with a combined 26.48% market share.
Five years ago, these same two insurers each claimed a 15.6% share of the marketplace at this same time.
Ten years ago, however, it was Travelers who commanded the largest share in this marketplace with a 15.5% market share in November 2012. As fo November 2017, it is now the fifth-largest Commercial Auto Insurer in Massachusetts with a 7.35% market share as of November 2022.
In comparison, third-ranked Arbella has more or less maintained its market share over the past ten years as the third-largest Commercial Auto writer in the Commonwealth.

The Commercial Auto Marketplace in Massachusetts

Exposures & Market Share as of November 2022

Company	Premiums	Market Share
1. COMMERCE	136,459,077	13.84%
2. SAFETY	124,563,471	12.64%
3. ARBELLA	104,856,377	10.64%
4. PROGRESSIVE	87,153,052	8.84%
5. TRAVELERS	72,427,777	7.35%
6. PLYMOUTH ROCK	47,937,503	4.86%
7. TOKIO MARINE & NACHIDO	37,090,392	3.76%
8. FIREMAN’S	36,233,072	3.68%
9. LIBERTY MUTUAL INS	32,180,813	3.26%
10. HANOVER	28,539,711	2.90%
11. ZURICH	27,696,335	2.81%
12. SELECTIVE INSURANCE	24,094,148	2.44%
13. UTICA	19,273,156	1.96%
14. TWIN CITY FIRE INS	15,465,790	1.57%
15. OLD REPUBLIC	14,102,994	1.43%
16. NATIONAL GRANGE	13,903,707	1.41%
17. GREAT AMERICAN	13,209,556	1.34%
18. NEW HAMPSHIRE	10,580,054	1.07%
19. FEDERATED MUTUAL	10,349,151	1.05%
20. GREEN MOUNTAIN	9,970,333	1.01%
21. EMPLOYERS MUTUAL	9,912,221	1.01%
22. FEDERAL	9,847,393	1.00%
23. AMERICAN CASUALTY	9,117,692	0.93%
24. FARM FAMILY	7,913,353	0.80%
25. N&D MUTUAL	7,894,833	0.80%
26. CENTRAL MUTUAL INS	7,307,993	0.74%
27. BANKERS	5,991,653	0.61%
28. US FIRE	5,767,920	0.59%
29. MIDDLESEX INS CO	5,002,667	0.51%
30. MERCH MUTUAL	4,786,926	0.49%
31. HARLEYSVILLE INS	3,888,397	0.39%
32. CINCINNATI	3,877,440	0.39%
33. QUINCY MUTUAL	3,456,002	0.35%
34. IMPERIUM	3,207,049	0.33%
35. ARCH	3,146,309	0.32%
36. PENN LUMBERMENS	2,587,403	0.26%
37. NEW YORK AND GENERAL INS	2,444,201	0.25%
38. STARR INDEMNITY	2,391,507	0.24%
39. PREFERRED MUTUAL	2,377,129	0.24%
40. MOTORISTS	2,058,550	0.21%
41. LANCER INSURANCE CO.	1,751,368	0.18%
42. STATE AUTO	1,723,420	0.17%
43. EVEREST NATIONAL	1,349,736	0.14%
44. ATLANTIC SPECIALTY	1,249,269	0.13%
45. ALLSTATE	1,139,032	0.12%
46. GREENWICH	948,099	0.10%
47. SECURITY NATIONAL	858,163	0.09%
48. PENN MNFCT ASSC INS	780,508	0.08%
49. CHURCH MUTUAL	764,542	0.08%
50. PROTECTIVE	668,204	0.07%
51. ARGONAUT	651,244	0.07%
52. BERKSHIRE HATHAWAY	563,023	0.06%
53. SOMPO AMERICA	561,852	0.06%
54. PRIME PROPERTY & CASUALTY	533,256	0.05%
55. ALLIED WORLD SPECIALTY	464,396	0.05%
56. GEICO	432,329	0.04%
57. AMERICAN AUTOMOBILE	356,312	0.04%
58. AXIS REINSURANCE	311,038	0.03%
59. QBE	288,853	0.03%
60. MITSUI SUMITOMO	245,016	0.02%
61. AMICA MUTUAL	184,946	0.02%
62. RLI	180,819	0.02%
63. STARSTONE NATIONAL	159,288	0.02%
64. FALLS LAKE	105,435	0.01%
65. STATE FARM	79,003	0.01%
66. GUIDEONE MUTUAL	50,503	0.01%
67. MARKEL AMERICAN	41,847	0.00%
68. CUMIS	38,635	0.00%
69. T.H.E. INS CO	31,776	0.00%
70. HDI GLOBAL	26,383	0.00%
71. AMERICAN HALLMARK	17,742	0.00%
72. AMERICAN BANKERS INS CO	15,167	0.00%
73. AMERICAN ALTERNATIVE	848	0.00%
74. AMERICAN FAMILY	762	0.00%
TOTALS	985,635,921	100.00%

Looking Back: A Retrospective on the Top 10 Commercial Auto Insurers Over the Past 10 Years

The following are graphs depicting the state of the Commercial Auto Insurance Marketplace over the past 10 years. The first graph shows the top 10 Commercial Auto Insurers as of November 2022, followed by the top 10 insurers five years earlier in November 2017, and then the top 10 from a decade ago in November 2012. Below these three graphs, there is now an additional side-by-side comparisons (viewed by sliding the arrows over the graphs) which allows for further comparisons.

November 2022

November 2017

November 2012

Side-by-Side Comparisons

November 2022/November 2017 Comparison

Use the arrows to slide over each graph to view each graph individually or for further comparison.

November 2022/November 2012 Comparison

Use the arrows to slide over each graph to view each graph individually or for further comparison.

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: