A look at the current state of the Massachusetts private passenger auto insurance market
The following are the latest movements and trends in the market share of private passenger automobile (“PPA”) insurance companies in Massachusetts. All tables and graphs below reflects the current state of the market as of April 2017, the latest date for which complete data on the private passenger auto insurance marketplace is available.
As always, all of our data presented here is provided courtesy of the Commonwealth Automobile Reinsurers, the statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.
GEICO jumps two spots in 2017 to become the third largest private passenger auto insurer
In our last report on the private passenger auto insurance in April of this year (reflecting the market as of December 2016), GEICO ranked as the fifth largest private passenger insurance in the Commonwealth, two tenths of a percentage point behind Arbella. However, by the fourth month of 2017, the direct writer had catapulted over Safety and Arbella to become the third largest PPA insurer in Massachusetts with a 9.95% market. Geico hold its lead over fourth place Safety Insurance by a slime .12%.
With that said, it is important to note that the current market share for the various insurers listed may change over the course of the rest of 2017. The market share reported here, represents on the first four months of this year.
A couple of thoughts about the total market share for passenger automobile insurers in Massachusetts
- The difference in exposures between GEICO and Safety is only 1,896 at this point in 2017.
- GEICO is only approximately 10,435 exposures behind the second largest insurer in Massachusetts – Liberty Mutual.
- Expect The Hanover to increase both its market share and position in the top 20 in 2017 following its announcement that is has entered into a Replacement Carrier Agreement with Encompass for its Personal Lines business, after Encompass’ own announcement that is officially withdrawing from Massachusetts.
| COMPANY NAME | EXPOSURES | MARKET SHARE |
| 1. COMMERCE/MAPFRE | 423,664 | 25.72% |
| 2. LIBERTY MUTUAL | 174,302 | 10.58% |
| 3. GEICO | 163,867 | 9.95% |
| 4. SAFETY | 161,971 | 9.83% |
| 5. ARBELLA | 136,398 | 8.28% |
| 6. PLYMOUTH ROCK | 95,865 | 5.82% |
| 7. METROPOLITAN | 64,354 | 3.91% |
| 8. PROGRESSIVE | 58,947 | 3.58% |
| 9. AMICA MUTUAL | 54,421 | 3.30% |
| 10. THE PREMIER | 52,503 | 3.19% |
| 11. U S A A | 51,959 | 3.15% |
| 12. HANOVER | 50,392 | 3.06% |
| 13. QUINCY MUTUAL | 30,232 | 1.84% |
| 14. ALLSTATE | 20,243 | 1.23% |
| 15. NORFOLK AND DEDHAM MUTUAL | 19,037 | 1.16% |
| 16. VERMONT MUTUAL | 17,857 | 1.08% |
| 17. NATIONAL GRANGE | 17,767 | 1.08% |
| 18. PREFERRED MUTUAL | 8,156 | 0.50% |
| 19. STATE FARM | 5,908 | 0.36% |
| 20. ENCOMPASS | 5,692 | 0.35% |
| 21. INTEGON | 5,016 | 0.30% |
| 22. ELECTRIC | 4,302 | 0.26% |
| 23. ESURANCE | 4,215 | 0.26% |
| 24. IDS | 4,071 | 0.25% |
| 25. GREEN MOUNTAIN | 3,747 | 0.23% |
| 26. OCCIDENTAL INS | 3,392 | 0.21% |
| 27. FARM FAMILY | 2,638 | 0.16% |
| 28. BANKERS STANDARD | 2,323 | 0.14% |
| 29. PURE | 1,887 | 0.11% |
| 30. HARLEYSVILLE WORCESTER | 1,180 | 0.07% |
| 31. AMERICAN INTERNATIONAL | 996 | 0.06% |
Graphs from the months of December 2017, 2012, and 2007 show how the market has changed over the past decade
In order to give some perspective of the shifts in the marketplace over the past decade, we have include similar graphs from both 2017, 2012 and 2007 to see how the Massachusetts automobile insurance market has shifted during the past five and ten years, including the year before the transition into “Managed Competition.”
APRIL 2017
Now compare that to the same date five years ago or in April 2012:
APRIL 2012
Finally, the top 10 private passenger auto insurance companies in Massachusetts a decade ago, which also is the last year before the introduction of “Managed Competition”.
APRIL 2007
