5th Look 2023: Update on the MA Commercial Auto Insurance Marketplace

A Look at the State of the Marketplace as of September 2023

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 September 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 September 2023

COMPANY	PREMIUMS	MARKET SHARE
1. COMMERCE	120,306,290	13.81%
2. SAFETY	98,866,477	11.35%
3. ARBELLA	95,161,746	10.92%
4. PROGRESSIVE	77,402,852	8.88%
5. TRAVELERS	62,814,336	7.21%
6. PLYMOUTH ROCK	41,491,515	4.76%
7. TOKIO MARINE & NACHIDO	35,211,011	4.04%
8. FIREMAN’S	31,917,088	3.66%
9. ZURICH	24,866,540	2.85%
10. LIBERTY MUTUAL INS	23,493,471	2.70%
11. HANOVER	23,065,359	2.65%
12. SELECTIVE INSURANCE	21,058,246	2.42%
13. UTICA	16,132,476	1.85%
14. TWIN CITY FIRE INS	16,065,170	1.84%
15. OLD REPUBLIC	13,814,424	1.59%
16. GREAT AMERICAN	13,521,541	1.55%
17. NATIONAL GRANGE	11,631,401	1.33%
18. GREEN MOUNTAIN	9,656,609	1.11%
19. FEDERATED MUTUAL	9,425,137	1.08%
20. NEW HAMPSHIRE	9,207,847	1.06%
21. ARGONAUT	9,055,476	1.04%
22. AMERICAN CASUALTY	8,954,101	1.03%
23. EMPLOYERS MUTUAL	8,473,635	0.97%
24. FEDERAL	7,932,846	0.91%
25. N&D MUTUAL	7,218,530	0.83%
26. FARM FAMILY	7,110,432	0.82%
27. CENTRAL MUTUAL INS	6,439,961	0.74%
28. CINCINNATI	5,257,377	0.60%
29. US FIRE	5,093,714	0.58%
30. BANKERS	4,849,940	0.56%
31. ARCH	4,344,511	0.50%
32. MIDDLESEX INS CO	4,301,696	0.49%
33. IMPERIUM	4,090,763	0.47%
34. MERCH MUTUAL	4,014,380	0.46%
35. STARR INDEMNITY	3,172,281	0.36%
36. QUINCY MUTUAL	2,671,991	0.31%
37. NEW YORK AND GENERAL INS	2,466,119	0.28%
38. HARLEYSVILLE INS	2,101,671	0.24%
39. PREFERRED MUTUAL	1,903,454	0.22%
40. MOTORISTS	1,850,149	0.21%
41. LANCER INSURANCE CO.	1,748,982	0.20%
42. STATE AUTO	1,481,986	0.17%
43. PROTECTIVE	1,345,230	0.15%
44. ATLANTIC SPECIALTY	1,246,855	0.14%
45. GEICO	1,006,513	0.12%
46. CHURCH MUTUAL	947,311	0.11%
47. BERKSHIRE HATHAWAY	921,290	0.11%
48. SECURITY NATIONAL	812,761	0.09%
49. EVEREST NATIONAL	758,846	0.09%
50. PENN LUMBERMENS	590,182	0.07%
51. GREENWICH	585,211	0.07%
52. AMERICAN AUTOMOBILE	471,054	0.05%
53. PENN MNFCT ASSC INS	470,834	0.05%
54. ALLSTATE	427,894	0.05%
55. AXIS REINSURANCE	328,665	0.04%
56. FALLS LAKE	283,428	0.03%
57. MITSUI SUMITOMO	242,898	0.03%
58. SOMPO AMERICA	224,588	0.03%
59. AMERICAN FAMILY	199,676	0.02%
60. RLI	178,043	0.02%
61. QBE	150,546	0.02%
62. STARSTONE NATIONAL	135,437	0.02%
63. AMICA MUTUAL	134,867	0.02%
64. STATE FARM	74,259	0.01%
65. GUIDEONE MUTUAL	49,598	0.01%
66. CUMIS	37,098	0.00%
67. AMERICAN ALTERNATIVE	30,989	0.00%
68. MARKEL AMERICAN	9,726	0.00%
69. T.H.E. INS CO	687	0.00%
70. ALLIED WORLD SPECIALTY	-94	0.00%
TOTALS	871,307,923	100.00%

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

September 2023 v. September 2022

September 2023 v. September 2021

September 2023 v. September 2020

September 2023 v. September 2019

5-Year Comparison

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

September 2023 v. September 2018

10-Year Comparison

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

September 2023 v. September 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: