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:
2024 Market Share Report
1st Look 2024: The MA Commercial Auto Insurance Marketplace
