A look at the current state of the Massachusetts private passenger auto insurance market at the mid-year mark
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 June 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 continues as the third largest private passenger auto insurer in Massachusetts as of the mid-year mark in 2017
GEICO started 2017 as the fifth largest private passenger insurer in Massachusetts (reflecting the market as of December 2016), just two tenths of a percentage point behind Arbella. The first half of 2017, however, has seen the direct writer catapult over both Safety and Arbella to claim the spot as the third largest PPA insurer in Massachusetts. The company continues to occupy that spot as of June 2017 with a 9.88% market share.
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 six months of 2017.
A couple of thoughts about the total market share for passenger automobile insurers in Massachusetts
- A total of 2,457,325 exposures have been written in the private passenger auto insurance marketplace as of June 2017.
- The difference in exposures between GEICO and Safety as of April 2017 was only a difference of 1,896 exposures. As of June 2017, that difference is now 1,795 exposures.
- GEICO, however, is now only about 7,036 exposures behind the second largest insurer in Massachusetts – Liberty Mutual.
- MAPFRE/Commerce continues to dominate the market with 632,406 exposures or just a little more of a quarter of the total market share in Mass. as of June, 2017.
- The Premier is no longer a top ten writer.
- 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. It is currently the 12th largest PPA writer in Mass.
| COMPANY NAME | EXPOSURES | MARKET SHARE |
| 1. COMMERCE/MAPFRE | 632,406 | 25.74% |
| 2. LIBERTY MUTUAL | 249,822 | 10.17% |
| 3. GEICO | 242,786 | 9.88% |
| 4. SAFETY | 240,989 | 9.81% |
| 5. ARBELLA | 205,650 | 8.37% |
| 6. PLYMOUTH ROCK | 146,676 | 5.97% |
| 7. METROPOLITAN | 96,216 | 3.92% |
| 8. PROGRESSIVE | 87,864 | 3.58% |
| 9. AMICA MUTUAL | 82,511 | 3.36% |
| 10. U S A A | 80,811 | 3.29% |
| 11. THE PREMIER | 76,859 | 3.13% |
| 12. HANOVER | 75,992 | 3.09% |
| 13. QUINCY MUTUAL | 43,832 | 1.78% |
| 14. ALLSTATE | 30,961 | 1.26% |
| 15. NORFOLK AND DEDHAM MUTUAL | 28,827 | 1.17% |
| 16. NATIONAL GRANGE | 27,145 | 1.10% |
| 17. VERMONT MUTUAL | 26,905 | 1.09% |
| 18. PREFERRED MUTUAL | 12,622 | 0.51% |
| 19. STATE FARM | 9,776 | 0.40% |
| 20. ENCOMPASS | 8,164 | 0.33% |
| 21. INTEGON | 7,729 | 0.31% |
| 22. ELECTRIC | 6,329 | 0.26% |
| 23. IDS | 6,180 | 0.25% |
| 24. GREEN MOUNTAIN | 5,931 | 0.24% |
| 25. ESURANCE | 5,908 | 0.24% |
| 26. BANKERS STANDARD | 4,315 | 0.18% |
| 27. FARM FAMILY | 4,043 | 0.16% |
| 28. OCCIDENTAL INS | 3,510 | 0.14% |
| 29. PURE | 3,074 | 0.13% |
| 30. AMERICAN INTERNATIONAL | 1,771 | 0.07% |
| 31. HARLEYSVILLE WORCESTER | 1,722 | 0.07% |
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 April & June 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.”
JUNE 2017
APRIL 2017
Now compare that to the same date five years ago or in June 2012:
JUNE 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”.
JUNE 2007
Next week, we will take our bi-monthly look at the market share in the commercial auto marketplace in Mass.
