3rd Look At The 2023 Commercial Auto Marketplace in Massachusetts

Every other month, Agency Checklists “checks in” on the current state of the Commercial Auto Insurance marketplace via our bi-monthly updates. This checkup is done by reviewing the data for this line of insurance, 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.

Our aim is simply to help those in the industry get a better sense of the trends and movements happening within this line of insurance. For our current update, the data reflects the state of the market as of April 2023, the latest date for which complete data is currently available.

So, without further ado, the latest numbers follow below:

The Commercial Auto Marketplace in Massachusetts

Exposures & Market Share as of February 2023

COMPANY	PREMIUMS	MARKET SHARE
1. COMMERCE	55,809,169	14.76%
2. SAFETY	50,346,175	13.32%
3. ARBELLA	41,983,992	11.11%
4. PROGRESSIVE	35,718,613	9.45%
5. TRAVELERS	28,881,794	7.64%
6. PLYMOUTH ROCK	16,939,629	4.48%
7. FIREMAN’S	16,084,878	4.26%
8. TOKIO MARINE & NACHIDO	13,367,199	3.54%
9. HANOVER	11,535,059	3.05%
10. ZURICH	10,417,653	2.76%
11. SELECTIVE INSURANCE	9,521,010	2.52%
12. LIBERTY MUTUAL IN	7,713,123	2.04%
13. TWIN CITY FIRE INS	7,273,048	1.92%
14. UTICA	6,658,034	1.76%
15. NATIONAL GRANGE	5,753,761	1.52%
16. GREEN MOUNTAIN	4,446,248	1.18%
17. EMPLOYERS MUTUAL	4,350,526	1.15%
18. FEDERATED MUTUAL	4,239,590	1.12%
19. FARM FAMILY	3,860,606	1.02%
20. AMERICAN CASUALTY	3,847,384	1.02%
21. FEDERAL	3,767,398	1.00%
22. N&D MUTUAL	3,432,359	0.91%
23. GREAT AMERICAN	3,006,062	0.80%
24. OLD REPUBLIC	2,620,510	0.69%
25. CENTRAL MUTUAL INS	2,599,072	0.69%
26. US FIRE	2,282,760	0.60%
27. BANKERS	2,068,180	0.55%
28. CINCINNATI	2,064,701	0.55%
29. MERCH MUTUAL	2,002,515	0.53%
30. NEW HAMPSHIRE	1,800,720	0.48%
31. ARCH	1,698,703	0.45%
32. MIDDLESEX INS CO	1,454,372	0.38%
33. QUINCY MUTUAL	1,147,228	0.30%
34. HARLEYSVILLE INS	1,078,105	0.29%
35. MOTORISTS	860,639	0.23%
36. PREFERRED MUTUAL	826,981	0.22%
37. NEW YORK AND GENERAL INS	736,480	0.19%
38. STATE AUTO	692,842	0.18%
39. LANCER INSURANCE CO.	594,844	0.16%
40. SECURITY NATIONAL	504,491	0.13%
41. STARR INDEMNITY	455,537	0.12%
42. IMPERIUM	415,931	0.11%
43. ATLANTIC SPECIALTY	383,330	0.10%
44. GEICO	376,692	0.10%
45. ALLSTATE	301,722	0.08%
46. PENN MNFCT ASSC INS	299,742	0.08%
47. ARGONAUT	272,384	0.07%
48. EVEREST NATIONAL	200,791	0.05%
49. AMERICAN AUTOMOBILE	177,009	0.05%
50. CHURCH MUTUAL	174,357	0.05%
51. PENN LUMBERMENS	169,363	0.04%
52. BERKSHIRE HATHAWAY	129,239	0.03%
53. FALLS LAKE	125,178	0.03%
54. PROTECTIVE	77,334	0.02%
55. GREENWICH	75,379	0.02%
56. AXIS REINSURANCE	75,337	0.02%
57. QBE	65,365	0.02%
58. RLI	63,613	0.02%
59. AMICA MUTUAL	60,085	0.02%
60. STATE FARM	33,883	0.01%
61. SOMPO AMERICA	32,797	0.01%
62. CUMIS	22,138	0.01%
63. MITSUI SUMITOMO	19,583	0.01%
64. GUIDEONE MUTUAL	19,024	0.01%
	378,012,266

Looking Back: A Comparison on the Top 10 Commercial Auto Insurers Over the 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 April 2023, as compared to similar Aprils in 2022, 2021, 2020, and 2019. Following these comparisons, there are two more comparisons with, one from five years ago in April 2023 and then the last from ten years ago in April 2013.

Each year can be compared by sliding the window to either the left or right on each of the graph comparisons below.

April 2023 v. April 2022

April 2023 v. April 2021

April 2023 v. April 2020

April 2023 v. April 2019

Five-Year Comparison

April 2023 v. April 2018

Ten-Year Comparison

April 2023 v. April 2018

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: