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:
