Last Look of 2023: Update on the MA Commercial Auto Insurance Marketplace

The State of the Marketplace as of November 2023

Every other month, Agency Checklists publishes 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 November 2023, the latest date for which complete CAR data is currently available.

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

Exposures & Market Share Data

COMPANY	PREMIUMS	MARKET SHARE
1. COMMERCE	147,856,132	13.79%
2. SAFETY	136,280,709	12.71%
3. ARBELLA	113,042,875	10.54%
4. PROGRESSIVE	97,006,900	9.05%
5. TRAVELERS	76,442,753	7.13%
6. PLYMOUTH ROCK	50,242,538	4.69%
7. TOKIO MARINE & NACHIDO	40,319,694	3.76%
8. FIREMAN’S	40,122,132	3.74%
9. ZURICH	30,428,264	2.84%
10. HANOVER	29,371,162	2.74%
11. LIBERTY MUTUAL INS	27,943,701	2.61%
12. SELECTIVE INSURANCE	27,068,064	2.52%
13. TWIN CITY FIRE INS	20,475,654	1.91%
14. UTICA	19,632,195	1.83%
15. GREAT AMERICAN	14,874,135	1.39%
16. NATIONAL GRANGE	14,232,133	1.33%
17. OLD REPUBLIC	13,908,057	1.30%
18. NEW HAMPSHIRE	12,465,379	1.16%
19. GREEN MOUNTAIN	12,067,537	1.13%
20. FEDERATED MUTUAL	11,598,713	1.08%
21. AMERICAN CASUALTY	11,021,811	1.03%
22. ARGONAUT	10,421,756	0.97%
23. EMPLOYERS MUTUAL	9,985,423	0.93%
24. FEDERAL	9,944,950	0.93%
25. N&D MUTUAL	8,851,305	0.83%
26. FARM FAMLY	8,381,068	0.78%
27. CENTRAL MUTUAL INS	8,068,147	0.75%
28. US FIRE	6,451,564	0.60%
29. BANKERS	5,588,133	0.52%
30. CINCINNATI	5,372,069	0.50%
31. MIDDLESEX INS CO	5,221,882	0.49%
32. MERCH MUTUAL	4,706,345	0.44%
33. ARCH	4,344,511	0.41%
34. IMPERIUM	4,090,763	0.38%
35. QUINCY MUTUAL	3,328,074	0.31%
36. STARR INDEMNITY	3,172,281	0.30%
37. HARLEYSVILLE INS	3,010,276	0.28%
38. NEW YORK AND GENERAL INS	2,788,781	0.26%
39. PREFERRED MUTUAL	2,300,346	0.21%
40. LANCER INSURANCE CO.	2,211,182	0.21%
41. MOTORISTS	2,149,567	0.20%
42. PROTECTIVE	1,957,493	0.18%
43. STATE AUTO	1,808,218	0.17%
44. ATLANTIC SPECIALTY	1,358,844	0.13%
45. GEICO	1,325,584	0.12%
46. SECURITY NATIONAL	1,012,471	0.09%
47. CHURCH MUTUAL	947,311	0.09%
48. BERKSHIRE HATHAWAY	939,140	0.09%
49. GREENWICH	822,726	0.08%
50. PENN MNFCT ASSC INS	817,811	0.08%
51. EVEREST NATIONAL	758,846	0.07%
52. PENN LUMBERMENS	698,961	0.07%
53. AMERICAN AUTOMOBILE	563,893	0.05%
54. ALLSTATE	427,894	0.04%
55. AXIS REINSURANCE	328,665	0.03%
56. FALLS LAKE	283,428	0.03%
57. SOMPO AMERICA	250,650	0.02%
58. MITSUI SUMITOMO	242,898	0.02%
59. AMERICAN FAMILY	199,676	0.02%
60. RLI	178,043	0.02%
61. AMICA MUTUAL	166,988	0.02%
62. QBE	161,109	0.02%
63. STARSTONE NATIONAL	135,437	0.01%
64. STATE FARM	90,676	0.01%
65. GUIDEONE MUTUAL	49,598	0.00%
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%
	1,072,393,727	100.00%

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

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

November 2023 v. November 2022

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

November 2023 v. November 2021

November 2023 v. November 2020

November 2023 v. November 2019

A 5-Year Comparison of the Marketplace

November 2023 v. November 2018

A 10-Year Comparison of the Marketplace

November 2023 v. November 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: