4th Look 2023: The MA Commercial Auto Marketplace

Latest Data as of July 2023

The State of the Commercial Auto Insurance Marketplace

Every other month, Agency Checklists published a bi-monthly “check-up” on the current state of the Commercial Auto Insurance marketplace. The data reviewed for this line of insurance is provided courtesy of the Commonwealth Automobile Reinsurers. For those readers who may be unfamiliar with the Commonwealth Automobile Reinsurers, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

The ultimate aim of these “looks” is to 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 July 2023, the latest date for which complete CAR data is currently available.

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

Exposures & Market Share as of July 2023

COMPANY	PREMIUMS	MARKET SHARE
1. COMMERCE	95,663,173	13.85%
2. SAFETY	87,094,508	12.61%
3. ARBELLA	76,166,976	11.02%
4. PROGRESSIVE	60,888,583	8.81%
5. TRAVELERS	51,522,294	7.46%
6. PLYMOUTH ROCK	34,518,772	5.00%
7. TOKIO MARINE & NACHIDO	29,470,036	4.27%
8. FIREMAN’S	25,750,066	3.73%
9. ZURICH	19,768,790	2.86%
10. HANOVER	19,708,471	2.85%
11. LIBERTY MUTUAL INS	18,452,354	2.67%
12. SELECTIVE INSURANCE	17,697,593	2.56%
13. TWIN CITY FIRE INS	13,056,542	1.89%
14. UTICA	11,333,458	1.64%
15. NATIONAL GRANGE	9,482,486	1.37%
16. OLD REPUBLIC	8,137,344	1.18%
17. NEW HAMPSHIRE	7,806,141	1.13%
18. GREEN MOUNTAIN	7,641,201	1.11%
19. FEDERATED MUTUAL	7,562,708	1.09%
20. GREAT AMERICAN	7,383,712	1.07%
21. AMERICAN CASUALTY	7,291,800	1.06%
22. EMPLOYERS MUTUAL	6,928,380	1.00%
23. FEDERAL	6,472,565	0.94%
24. FARM FAMLY	5,700,545	0.83%
25. N&D MUTUAL	5,541,499	0.80%
26. CENTRAL MUTUAL INS	5,143,688	0.74%
27. BANKERS	4,183,192	0.61%
28. US FIRE	4,145,471	0.60%
29. CINCINNATI	4,131,050	0.60%
30. MIDDLESEX INS CO	3,258,531	0.47%
31. MERCH MUTUAL	3,149,733	0.46%
32. ARCH	2,806,568	0.41%
33. QUINCY MUTUAL	2,157,281	0.31%
34. STARR INDEMNITY	1,983,989	0.29%
35. NEW YORK AND GENERAL INS	1,743,331	0.25%
36. HARLEYSVILLE INS	1,659,590	0.24%
37. IMPERIUM	1,573,040	0.23%
38. MOTORISTS	1,535,748	0.22%
39. PREFERRED MUTUAL	1,439,626	0.21%
40. STATE AUTO	1,339,339	0.19%
41. LANCER INSURANCE CO.	1,231,578	0.18%
42. ATLANTIC SPECIALTY	1,151,275	0.17%
43. BERKSHIRE HATHAWAY	846,280	0.12%
44. PROTECTIVE	776,619	0.11%
45. GEICO	712,076	0.10%
46. SECURITY NATIONAL	603,241	0.09%
47. EVEREST NATIONAL	510,583	0.07%
48. ALLSTATE	427,894	0.06%
49. AMERICAN AUTOMOBILE	423,897	0.06%
50. PENN MNFCT ASSC INS	418,549	0.06%
51. PENN LUMBERMENS	386,953	0.06%
52. CHURCH MUTUAL	352,043	0.05
53. ARGONAUT	281,726	0.04%
54. GREENWICH	237,081	0.03%
55. AXIS REINSURANCE	234,806	0.03%
56. SOMPO AMERICA	224,497	0.03%
57. MITSUI SUMITOMO	200,387	0.03%
58. FALLS LAKE	125,246	0.02%
59. QBE	121,745	0.02%
60. RLI	120,041	0.02%
61. AMICA MUTUAL	102,716	0.01%
62. STATE FARM	53,096	0.01%
	690,922,978

Agency Checklists’ Proprietary Retrospective of the Commercial Auto Marketplace

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 July 2023, as compared to similar July in 2022, July 2021, July 2020, and July 2019. Following these comparisons, there are two more comparisons with, one from five years ago in July 2023 and then the last from ten years ago in July 2013.

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

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

July 2023 v. July 2022

July 2023 v. July 2021

July 2023 v. July 2020

July 2023 v. July 2019

5-Year Comparison

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

July 2023 v. July 2018

10-Year Comparison

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

July 2023 v. July 2013

Past Market Share Reports

For those interested in reviewing all of our bi-monthly updates throughout 2022 & 2023 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: