State of the Marketplace as of February 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 February 2024, the latest date for which complete CAR data is currently available.
Exposures & Market Share
| Company Name and Rank | Premiums | Market Share |
|---|---|---|
| 1. COMMERCE | 32,768,455 | 15.94% |
| 2. SAFETY | 27,140,479 | 13.20% |
| 3. ARBELLA | 23,711,471 | 11.54% |
| 4. PROGRESSIVE | 19,496,415 | 9.49% |
| 5. TRAVELERS | 16,996,908 | 8.27% |
| 6. TOKIO MARINE & NACHIDO | 10,616,946 | 5.17% |
| 7. PLYMOUTH ROCK | 8,123,869 | 3.95% |
| 8. FIREMAN’S | 7,600,100 | 3.70% |
| 9. HANOVER | 5,715,753 | 2.78% |
| 10. TWIN CITY FIRE INS | 5,448,963 | 2.65% |
| 11. ZURICH | 5,446,343 | 2.65% |
| 12. SELECTIVE INSURANCE | 5,328,028 | 2.59% |
| 13. AMERICAN CASUALTY | 3,003,280 | 1.46% |
| 14. UTICA | 2,983,794 | 1.45% |
| 15. LIBERTY MUTUAL INS | 2,624,376 | 1.28% |
| 16. NATIONAL GRANGE | 2,404,270 | 1.17% |
| 17. FEDERAL | 2,294,185 | 1.12% |
| 18. GREEN MOUNTAIN | 2,126,784 | 1.03% |
| 19. FARM FAMILY | 2,117,970 | 1.03% |
| 20. NEW YORK AND GENERAL INS | 1,935,069 | 0.94% |
| 21. N&D MUTUAL | 1,902,304 | 0.93% |
| 22. FEDERATED MUTUAL | 1,839,110 | 0.89% |
| 23. CENTRAL MUTUAL INS | 1,795,065 | 0.87% |
| 24. EMPLOYERS MUTUAL | 1,636,351 | 0.80% |
| 25. MIDDLESEX INS CO | 1,274,420 | 0.62% |
| 26. BANKERS | 1,266,105 | 0.62% |
| 27. NEW HAMPSHIRE | 1,256,291 | 0.61% |
| 28. MERCH MUTUAL | 1,151,280 | 0.56% |
| 29. ARGONAUT | 880,617 | 0.43% |
| 30. US FIRE | 843,236 | 0.41% |
| 31. GREAT AMERICAN | 608,766 | 0.30% |
| 32. GEICO | 588,429 | 0.29% |
| 33. QUINCY MUTUAL | 561,292 | 0.27% |
| 34. MOTORISTS | 555,143 | 0.27% |
| 35. PREFERRED MUTUAL | 310,368 | 0.15% |
| 36. ATLANTIC SPECIALTY | 265,153 | 0.13% |
| 37. LANCER INSURANCE CO. | 258,949 | 0.13% |
| 38. STATE AUTO | 187,843 | 0.09% |
| 39. HARLEYSVILLE INS | 141,901 | 0.07% |
| 40. SECURITY NATIONAL | 108,239 | 0.05% |
| 41. PENN LUMBERMENS | 58,481 | 0.03% |
| 42. PENN MNFCT ASSC INS | 55,243 | 0.03% |
| 43. GREENWICH | 40,754 | 0.02% |
| 44. AMERICAN AUTOMOBILE | 22,336 | 0.01% |
| 45. PROTECTIVE | 16,272 | 0.01% |
| 46. OLD REPUBLIC | 14,020 | 0.01% |
| 47. QBE | 12,778 | 0.01% |
| 48. STATE FARM | 8,642 | 0.00% |
| 49. BERKSHIRE HATHAWAY | 6,732 | 0.00% |
| 205,549,578 | 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 February 2024, compared to February 2023, February 2022, February 2021, and February 2020. Following these comparisons are two more: one from five years ago, February 2019, and the last from ten years ago, February 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.
February 2024 v. February 2023
February 2024 v. February 2022
February 2024 v. February 2021
February 2024 v. February 2020
5-Year Comparison
Use the arrows to slide over each graph to view them individually or for further comparison.
February 2024 v. February 2020
10-Year Comparison
Use the arrows to slide over each graph to view them individually or for further comparison
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:
