1st Look 2024: The MA Commercial Auto Insurance Marketplace

State of the Marketplace as of February 2024

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 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 February 2024, the latest date for which complete CAR data is currently available.

Exposures & Market Share

Company Name and Rank	Premiums	Market Share
1. COMMERCE	32,768,455	15.94%
2. SAFETY	27,140,479	13.20%
3. ARBELLA	23,711,471	11.54%
4. PROGRESSIVE	19,496,415	9.49%
5. TRAVELERS	16,996,908	8.27%
6. TOKIO MARINE & NACHIDO	10,616,946	5.17%
7. PLYMOUTH ROCK	8,123,869	3.95%
8. FIREMAN’S	7,600,100	3.70%
9. HANOVER	5,715,753	2.78%
10. TWIN CITY FIRE INS	5,448,963	2.65%
11. ZURICH	5,446,343	2.65%
12. SELECTIVE INSURANCE	5,328,028	2.59%
13. AMERICAN CASUALTY	3,003,280	1.46%
14. UTICA	2,983,794	1.45%
15. LIBERTY MUTUAL INS	2,624,376	1.28%
16. NATIONAL GRANGE	2,404,270	1.17%
17. FEDERAL	2,294,185	1.12%
18. GREEN MOUNTAIN	2,126,784	1.03%
19. FARM FAMILY	2,117,970	1.03%
20. NEW YORK AND GENERAL INS	1,935,069	0.94%
21. N&D MUTUAL	1,902,304	0.93%
22. FEDERATED MUTUAL	1,839,110	0.89%
23. CENTRAL MUTUAL INS	1,795,065	0.87%
24. EMPLOYERS MUTUAL	1,636,351	0.80%
25. MIDDLESEX INS CO	1,274,420	0.62%
26. BANKERS	1,266,105	0.62%
27. NEW HAMPSHIRE	1,256,291	0.61%
28. MERCH MUTUAL	1,151,280	0.56%
29. ARGONAUT	880,617	0.43%
30. US FIRE	843,236	0.41%
31. GREAT AMERICAN	608,766	0.30%
32. GEICO	588,429	0.29%
33. QUINCY MUTUAL	561,292	0.27%
34. MOTORISTS	555,143	0.27%
35. PREFERRED MUTUAL	310,368	0.15%
36. ATLANTIC SPECIALTY	265,153	0.13%
37. LANCER INSURANCE CO.	258,949	0.13%
38. STATE AUTO	187,843	0.09%
39. HARLEYSVILLE INS	141,901	0.07%
40. SECURITY NATIONAL	108,239	0.05%
41. PENN LUMBERMENS	58,481	0.03%
42. PENN MNFCT ASSC INS	55,243	0.03%
43. GREENWICH	40,754	0.02%
44. AMERICAN AUTOMOBILE	22,336	0.01%
45. PROTECTIVE	16,272	0.01%
46. OLD REPUBLIC	14,020	0.01%
47. QBE	12,778	0.01%
48. STATE FARM	8,642	0.00%
49. BERKSHIRE HATHAWAY	6,732	0.00%
	205,549,578	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 ten Commercial Auto Insurers as of February 2024, compared to February 2023, February 2022, February 2021, and February 2020. Following these comparisons are two more: one from five years ago, February 2019, and the last from ten years ago, February 2014.

Using the sliders, you can compare each year by sliding the window to the left or right on each graph comparison below.

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

February 2024 v. February 2023

February 2024 v. February 2022

February 2024 v. February 2021

February 2024 v. February 2020

5-Year Comparison

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

February 2024 v. February 2020

10-Year Comparison

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

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: