Insights into the Fire Insurance Marketplace in our region
The fire insurance marketplace in New England reflects a wide variation in premium volume, carrier concentration, and underwriting experience across the region’s six states. Based strictly on direct written premium totals, Massachusetts is the largest fire insurance market in New England with $593.1 million in premium, followed by Connecticut at $279.3 million and Rhode Island at $86.8 million. Maine ($79.5 million), New Hampshire ($73.2 million), and Vermont ($44.0 million) form the region’s smaller markets. While each state reports a competitive landscape, the distribution of market share and loss performance differs materially from state to state.
Across the region, FM Global appears consistently among the leading writers, holding the top position in Massachusetts, Maine, New Hampshire, and Rhode Island, and ranking within the top five in Vermont. Other groups with a strong multi-state presence include Berkshire Hathaway, Travelers, Liberty Mutual, Andover, and Starr. Loss experience also varies widely. Several markets report low or moderate statewide loss ratios, such as Massachusetts at 26.45% and Rhode Island at 20.68%, while others report higher ratios, including New Hampshire at 29.71% and Vermont at 35.97%. These variations underscore distinct underwriting environments and claim trends within each New England jurisdiction.
The Massachusetts Fire Insurance Marketplace
The Massachusetts fire insurance marketplace is led by a diverse mix of national and regional carriers, with the top ten insurance groups accounting for just over half of all direct written premium in the state. FM Global holds the largest share at 9.76%, followed by Starr (6.27%) and Travelers (6.07%). Arch Insurance and Berkshire Hathaway round out the top five, each holding slightly more than 5% of the market.
Direct written premium among the top writers ranges from approximately $21.6 million to nearly $58 million, with total statewide fire premium reported at $593.1 million. Loss experience varies widely across carriers. American International Group reports the lowest loss ratio at 2.79%, while Travelers and Starr show higher ratios at 78.71% and 77.15%, respectively. The statewide loss ratio stands at 26.45%, with a corresponding loss and defense and cost containment (DCC) ratio of 26.60%.
| Rank | Insurance Group | Market Share % | Cumulative Market Share % | Direct Written Premium | Direct Premiums Earned | Loss Ratio % | Loss & DCC Ratio % |
|---|---|---|---|---|---|---|---|
| 1 | FM Global Grp | 9.76 | 9.76 | 57,897 | 54,395 | 18.71 | 19.51 |
| 2 | Starr Grp | 6.27 | 16.03 | 37,208 | 36,654 | 77.15 | 77.67 |
| 3 | Travelers Grp | 6.07 | 22.10 | 35,974 | 35,386 | 78.71 | 81.20 |
| 4 | Arch Ins Grp | 5.33 | 27.42 | 31,585 | 30,834 | 13.24 | 13.28 |
| 5 | Berkshire Hathaway Grp | 5.12 | 32.54 | 30,341 | 31,245 | 22.19 | 23.30 |
| 6 | American Intl Grp | 4.84 | 37.38 | 28,678 | 29,531 | 2.79 | 2.90 |
| 7 | Liberty Mut Grp | 4.37 | 41.74 | 25,899 | 27,048 | 8.63 | N/A |
| 8 | Andover Grp | 4.18 | 45.92 | 24,785 | 23,056 | 46.48 | 48.22 |
| 9 | MAPFRE Ins Grp | 3.99 | 49.91 | 23,645 | 24,164 | 20.94 | 21.82 |
| 10 | Vermont Mut Grp | 3.64 | 53.55 | 21,608 | 20,516 | 56.86 | 56.91 |
| **STATE TOTAL** | 100.00% | 100.00% | 593,127 | 599,116 | 26.45 | 26.60 |
The Top 10 Insurers in Each of the other New England States
Connecticut Fire Insurance Marketplace
| Rank | Insurance Group | Market Share % | Cumulative Market Share % | Direct Written Premium | Direct Premiums Earned | Loss Ratio % | Loss & DCC Ratio % |
|---|---|---|---|---|---|---|---|
| 1 | Berkshire Hathaway Grp | 16.27 | 16.27 | 45,441 | 44,336 | 21.52 | 23.78 |
| 2 | Starr Grp | 6.61 | 22.88 | 18,464 | 17,984 | 26.89 | 29.13 |
| 3 | FM Global Grp | 6.43 | 29.31 | 17,946 | 17,305 | N/A | N/A |
| 4 | Farmers Ins Grp | 5.54 | 34.85 | 15,473 | 13,161 | 59.76 | 60.51 |
| 5 | Munich Re Grp | 5.11 | 39.96 | 14,271 | 12,570 | 28.81 | 28.73 |
| 6 | Travelers Grp | 4.98 | 44.94 | 13,910 | 13,147 | 12.75 | 13.20 |
| 7 | Liberty Mut Grp | 4.64 | 49.58 | 12,972 | 12,638 | N/A | N/A |
| 8 | American Intl Grp | 3.85 | 53.43 | 10,754 | 9,980 | 16.54 | 16.75 |
| 9 | Andover Grp | 2.99 | 56.42 | 8,349 | 7,908 | 27.78 | 28.51 |
| 10 | Assurant Inc Grp | 2.68 | 59.10 | 7,488 | 6,725 | 38.52 | 38.52 |
| **STATE TOTAL** | 100.00% | 100.00% | 279,292 | 261,791 | 3.05% | 1.68% |
Maine Fire Insurance Marketplace
| Rank | Insurance Group | Market Share % | Cumulative Market Share % | Direct Written Premium | Direct Premiums Earned | Loss Ratio % | Loss & DCC Ratio % |
|---|---|---|---|---|---|---|---|
| 1 | FM Global Grp | 10.97 | 10.97 | 8,716 | 9,002 | 0.03 | 0.03 |
| 2 | Travelers Grp | 8.51 | 19.48 | 6,760 | 6,312 | N/A | N/A |
| 3 | Liberty Mut Grp | 7.64 | 27.11 | 6,068 | 5,749 | 72.00 | 72.07 |
| 4 | Arch Ins Grp | 5.55 | 32.66 | 4,408 | 4,189 | 108.00 | 112.04 |
| 5 | Starr Grp | 5.55 | 38.20 | 4,407 | 4,459 | 12.51 | 12.13 |
| 6 | Farmers Ins Grp | 5.53 | 43.74 | 4,395 | 4,229 | 27.15 | 27.47 |
| 7 | Berkshire Hathaway Grp | 4.91 | 48.65 | 3,902 | 3,778 | 22.57 | 23.60 |
| 8 | Andover Grp | 4.29 | 52.94 | 3,412 | 3,345 | 40.81 | 41.59 |
| 9 | Brookfield Wealth Solutions Grp | 4.09 | 57.03 | 3,254 | 3,190 | 27.90 | 27.95 |
| 10 | American Intl Grp | 3.98 | 61.01 | 3,159 | 3,044 | 4.51 | 4.56 |
| **STATE TOTAL** | 100.00% | 100.00% | 79,465 | 77,079 | 22.39% | 21.85% |
New Hampshire Fire Insurance Marketplace
| Rank | Insurance Group | Market Share % | Cumulative Market Share % | Direct Written Premium | Direct Premiums Earned | Loss Ratio % | Loss & DCC Ratio % |
|---|---|---|---|---|---|---|---|
| 1 | FM Global Grp | 7.80 | 7.80 | 5,711 | 5,574 | N/A | N/A |
| 2 | Travelers Grp | 6.35 | 14.15 | 4,648 | 4,338 | 183.94 | 185.60 |
| 3 | American Intl Grp | 5.37 | 19.52 | 3,929 | 2,850 | 19.34 | 19.83 |
| 4 | Starr Grp | 5.11 | 24.63 | 3,739 | 3,457 | 13.16 | 13.26 |
| 5 | Zurich Ins Grp | 4.82 | 29.45 | 3,526 | 3,313 | 37.96 | 39.96 |
| 6 | Liberty Mut Grp | 4.70 | 34.15 | 3,439 | 3,380 | 20.12 | 21.82 |
| 7 | Berkshire Hathaway Grp | 4.61 | 38.75 | 3,371 | 3,277 | 3.73 | 4.45 |
| 8 | AXA Ins Grp | 3.83 | 42.58 | 2,803 | 2,705 | 8.24 | 8.66 |
| 9 | Allianz Ins Grp | 3.75 | 46.34 | 2,746 | 2,692 | N/A | N/A |
| 10 | Andover Grp | 3.67 | 50.00 | 2,684 | 2,612 | N/A | N/A |
| **STATE TOTAL** | 100.00% | 100.00% | 73,187 | 67,917 | 29.71% | 30.10% |
Rhode Island Fire Insurance Marketplace
| Rank | Insurance Group | Market Share % | Cumulative Market Share % | Direct Written Premium | Direct Premiums Earned | Loss Ratio % | Loss & DCC Ratio % |
|---|---|---|---|---|---|---|---|
| 1 | FM Global Grp | 8.89 | 8.89 | 7,717 | 7,253 | 0.54 | 1.01 |
| 2 | Travelers Grp | 6.05 | 14.94 | 5,256 | 5,068 | 40.45 | 42.39 |
| 3 | Selective Ins Grp | 4.91 | 19.85 | 4,261 | 3,989 | 36.40 | 37.58 |
| 4 | Berkshire Hathaway Grp | 4.88 | 24.73 | 4,232 | 3,725 | 19.01 | 22.91 |
| 5 | Andover Grp | 4.63 | 29.36 | 4,021 | 3,982 | 17.44 | 21.29 |
| 6 | Farmers Ins Grp | 4.44 | 33.80 | 3,855 | 4,166 | 64.99 | 66.64 |
| 7 | Starr Grp | 4.31 | 38.11 | 3,741 | 3,450 | 33.16 | 35.01 |
| 8 | Munich Re Grp | 3.92 | 42.03 | 3,404 | 3,233 | 23.62 | 23.71 |
| 9 | Zurich Ins Grp | 3.77 | 45.80 | 3,270 | 2,997 | 18.07 | 19.38 |
| 10 | Hartford Fire & Cas Grp | 3.53 | 49.33 | 3,061 | 2,346 | 23.95 | 24.63 |
| **STATE TOTAL** | 100.00% | 100.00% | 86,809 | 81,084 | 20.68% | 22.09% |
Vermont Fire Insurance Marketplace
| Rank | Insurance Group | Market Share % | Cumulative Market Share % | Direct Written Premium | Direct Premiums Earned | Loss Ratio % | Loss & DCC Ratio % |
|---|---|---|---|---|---|---|---|
| 1 | Brookfield Wealth Solutions Grp | 6.28 | 6.28 | 2,764 | 2,659 | 96.44 | 96.39 |
| 2 | Tokio Marine Holdings Inc Grp | 6.13 | 12.41 | 2,696 | 1,363 | 13.55 | 15.42 |
| 3 | Liberty Mut Grp | 5.74 | 18.14 | 2,524 | 2,416 | 104.78 | 106.09 |
| 4 | American Intl Grp | 5.35 | 23.49 | 2,355 | 2,367 | 31.18 | 31.20 |
| 5 | FM Global Grp | 4.67 | 28.17 | 2,056 | 2,416 | 0.83 | 0.83 |
| 6 | Farmers Ins Grp | 4.40 | 32.56 | 1,934 | 1,754 | N/A | N/A |
| 7 | Travelers Grp | 4.34 | 36.90 | 1,910 | 1,944 | 65.07 | 65.94 |
| 8 | Zurich Ins Grp | 3.95 | 40.85 | 1,737 | 1,738 | 4.68 | 4.64 |
| 9 | Vermont Mut Grp | 3.92 | 44.77 | 1,725 | 1,661 | 53.51 | 53.55 |
| 10 | Starr Grp | 3.83 | 48.60 | 1,686 | 1,970 | 10.34 | 10.39 |
| **STATE TOTAL** | 100.00% | 100.00% | 44,005 | 41,237 | 35.97% | 38.79% |
