2nd Look 2024: The MA Commercial Auto Insurance Marketplace

State of the Marketplace as of May 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 May 2024, the latest date for which complete CAR data is currently available.

Exposures & Market Share

COMPANY	PREMIUMS	MARKET SHARE
COMMERCE	77,054,372	14.67%
SAFETY	70,815,956	13.48%
ARBELLA	58,303,219	11.10%
PROGRESSIVE	53,871,132	10.26%
TRAVELERS	38,281,678	7.29%
PLYMOUTH ROCK	25,736,328	4.90%
FIREMAN’S	20,020,064	3.81%
TOKIO MARINE & NACHIDO	18,506,403	3.52%
ZURICH	15,368,489	2.93%
SELECTIVE INSURANCE	13,747,039	2.62%
HANOVER	13,655,903	2.60%
LIBERTY MUTUAL INS	10,936,444	2.08%
TWIN CITY FIRE INS	10,775,804	2.05%
UTICA	8,872,409	1.69%
GREEN MOUNTAIN	6,871,717	1.31%
AMERICAN CASUALTY	6,537,269	1.24%
NATIONAL GRANGE	6,477,656	1.23%
FEDERATED MUTUAL	5,708,822	1.09%
FEDERAL	5,297,602	1.01%
FARM FAMILY	4,794,775	0.91%
EMPLOYERS MUTUAL	4,411,938	0.84%
CENTRAL MUTUAL INS	4,260,733	0.81%
N&D MUTUAL	4,203,653	0.80%
NEW HAMPSHIRE	3,696,194	0.70%
BANKERS	3,284,080	0.63%
NEW YORK AND GENERAL INS	3,188,181	0.61%
US FIRE	3,070,335	0.58%
MIDDLESEX INS CO	2,944,490	0.56%
CINCINNATI	2,797,634	0.53%
MERCH MUTUAL	2,340,362	0.45%
OLD REPUBLIC	2,266,462	0.43%
GREAT AMERICAN	1,951,178	0.37%
ARCH	1,669,632	0.32%
QUINCY MUTUAL	1,568,000	0.30%
GEICO	1,409,184	0.27%
MOTORISTS	1,205,093	0.23%
MOBILITAS GENERAL INS.	1,008,034	0.19%
PREFERRED MUTUAL	991,616	0.19%
ARGONAUT	887,807	0.17%
LANCER INSURANCE CO.	843,462	0.16%
ATLANTIC SPECIALTY	736,989	0.14%
HARLEYSVILLE INS	683,923	0.13%
SECURITY NATIONAL	628,803	0.12%
IMPERIUM	614,122	0.12%
STATE AUTO	573,419	0.11%
STARR INDEMNITY	296,825	0.06%
GREENWICH	284,106	0.05%
AMERICAN AUTOMOBILE	214,449	0.04%
PENN LUMBERMENS	192,031	0.04%
CHURCH MUTUAL	189,558	0.04%
PENN MNFCT ASSC INS	140,185	0.03%
FALLS LAKE	135,802	0.03%
SOMPO AMERICA	131,018	0.02%
EVEREST NATIONAL	127,333	0.02%
BERKSHIRE HATHAWAY	124,519	0.02%
AXIS REINSURANCE	86,213	0.02%
QBE	82,448	0.02%
RLI	81,643	0.02%
PROTECTIVE	63,100	0.01%
ALLIED WORLD SPECIALTY	43,109	0.01%
STATE FARM	34,189	0.01%
CUMIS	31,510	0.01%
GUIDEONE MUTUAL	17,634	0.00%
MITSUI SUMITOMO	17,340	0.00%
MARKEL AMERICAN	1,824	0.00%
STARSTONE NATIONAL	1,138	0.00%
	525,164,379	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 May 2024, compared to May 2023, May 2022, May 2021, and May 2020. Following these comparisons are two more: one from five years ago, May 2019, and the last from ten years ago, May 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.

May 2024 v. May 2023

May 2024 v. May 2022

May 2024 v. May 2021

May 2024 v. May 2020

5-Year Comparison

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

May 2024 v. May 2019

10-Year Comparison

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

May 2024 v. May 2014

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: