5th Look 2021: The MA Commercial Auto Insurance Marketplace

Our fifth update of the year features the latest CAR data as of July 2021

The following is Agency Checklists’ fifth bi-monthly update on the current state of the Commercial Auto Insurance marketplace. Every two months, Agency Checklists reports on the latest data to give a snapshot of the current state of the Commercial Automobile insurance marketplace in Massachusetts.

All of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through July 2021. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

An overview of the U.S. commercial auto insurance marketplace as a whole

NAIC-Market-Share-2021-CommAuto-600x338 | Agency Checklists

Per the latest data from The National Association of Insurance Commissioners and outlined in our 2021 report, the Commercial Auto Insurance marketplace is the seventh-largest line of insurance in the U.S. As of March 2021, the Direct Written Premium for the top 25 commercial auto insurers in the U.S. was approximately $45,788,021,304.

Of this group of the nation’s largest commercial auto insurers, Liberty Mutual was the only company based in Massachusetts who made the list. The Boston-based insurer is the fourth-largest writer by market share. In 2020, it reported $1,689,377,411 in Direct Premiums Written and $1,762,177,865 in Direct Premiums Earned nationwide, representing a 3.69% share of the enitre U.S. Commercial Auto insurance marketplace.

An overview of the Commercial Auto insurance marketplace

According to the latest data on the Commercial Auto Insurance marketplace in the Commonwealth, there are currently 193 companies that are licensed to write commercial auto insurance here.

Seven of the top 10 commercial auto carriers operating in the Commonwealth are headquartered in Massachusetts. The following is the complete list of Commercial Auto insurers through July 2021. Of note, Arbella is now the second largest commercial auto writer after MAPFRE/Commerce.

Insurer	Premiums	Market Share
1. COMMERCE	90,115,923	15.51%
2. ARBELLA	67,872,524	11.68%
3. SAFETY	53,831,549	9.26%
4. TRAVELERS	49,578,257	8.53%
5. PROGRESSIVE	43,967,037	7.57%
6. PLYMOUTH ROCK	33,831,655	5.82%
7. TOKIO MARINE & NACHIDO	26,098,040	4.49%
8. FIREMAN’S	23,787,337	4.09%
9. LIBERTY MUTUAL INS	19,826,972	3.41%
10. HANOVER	18,332,923	3.15%
11. ZURICH	16,791,330	2.89%
12. SELECTIVE INSURANCE	14,417,504	2.48%
13. UTICA	10,051,621	1.73%
14. NATIONAL GRANGE	9,277,873	1.60%
15. TWIN CITY FIRE INS	8,762,635	1.51%
16. GREAT AMERICAN	6,796,410	1.17%
17. AMERICAN CASUALTY	5,949,421	1.02%
18. EMPLOYERS MUTUAL	5,752,571	0.99%
19. FEDERATED MUTUAL	5,649,453	0.97%
20. GREEN MOUNTAIN	5,443,884	0.94%
21. FARM FAMILY	5,347,489	0.92%
22. NEW HAMPSHIRE	5,211,828	0.90%
23. N&D MUTUAL	4,890,331	0.84%
24. US FIRE	4,819,561	0.83%
25. OLD REPUBLIC	4,450,307	0.77%
26. BANKERS	4,164,313	0.72%
27. CENTRAL MUTUAL INS	3,635,162	0.63%
28. MERCH MUTUAL	3,030,139	0.52%
29. QUINCY MUTUAL	2,780,990	0.48%
30. MIDDLESEX INS CO	2,754,072	0.47%
31. STAR INDEMNITY	2,737,173	0.47%
32. ARCH	2,361,046	0.41%
33. HARLEYSVILLE INS	2,152,396	0.37%
34. GEICO	1,706,063	0.29%
35. CINCINNATI	1,551,710	0.27%
36. MOTORISTS	1,482,282	0.26%
37. NEW YORK AND GENERAL INS	1,462,460	0.25%
38. PREFERRED MUTUAL	1,423,654	0.24%
39. STATE AUTO	1,290,836	0.22%
40. ATLANTIC SPECIALTY	1,001,047	0.17%
41. PENN MNFCT ASSC INS	910,125	0.16%
42. LANCER INSURANCE CO.	694,087	0.12%
43. EVEREST NATIONAL	541,070	0.09%
44. SOMPO AMERICA	466,451	0.08%
45. STARSTONE NATIONAL	463,567	0.08%
46. AMERICAN AUTOMOBILE	456,546	0.08%
47. BERKSHIRE HATHAWAY	337,435	0.06%
48. SECURITY NATIONAL	313,963	0.05%
49. CHURCH MUTUAL	306,282	0.05%
50. QBE	280,236	0.05%
51. ALLIED WORLD SPECIALTY	236,981	0.04%
52. MITSUI SUMITOMO	236,019	0.04%
53. PENN LUMBERMENS	204,801	0.04%
54. AXIS REINSURANCE	204,680	0.04%
55. GREENWICH	202,831	0.03%
56. PROTECTIVE	176,223	0.03%
57. RLI	149,036	0.03%
58. AMICA MUTUAL	139,274	0.02%
59. ARGONAUT INSURANCE COMPANY	92,479	0.02%
60. IMPERIUM	79,764	0.01%
61. HARCO NATIONAL	76,771	0.01%
62. AMERICAN ALTERNATIVE	57,843	0.01%
63. STATE FARM	50,200	0.01%
64. GUIDEONE	36,355	0.01%
65. CUMIS	29,310	0.01%
66. T.H.E. INS CO	12,637	0.00%
67. MARKEL	7,192	0.00%
68. AMERICAN HALLMARK	1,989	0.00%
69. HDI GLOBAL	375	0.00%
TOTALS	581,152,300	100.00%

Shifts & trends in the Commercial Auto Insurance Marketplace

The following three graphs show the evolution of this marketplace over the past decade.

The goal is to present a side-by-side comparison on how this Marketplace has shifted during this highlighted period.

In order to give some perspective on the shifts in the Marketplace, the three graphs depict the Top Ten Commercial Auto insurers for the month of July 2021, followed by the same graph from five years earlier in July 2016, and then finally from a decade ago in July 2011.

July 2021

July 2016

July 2011

2021 Market Share CAR Commercial Auto Reports

Compare all of our 2020 CAR Commercial Auto Market Share Update Reports

For those interested in reviewing all of our bi-monthly updates throughout 2020 to get a sense of how the Commercial Auto Insurance marketplace has evolved over the past year, please find links to Agency Checklists’ five other updates below: