5th Look 2023: Update on the MA Commercial Auto Insurance Marketplace
A Look at the State of the Marketplace as of September 2023
Every other month, Agency Checklists published 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 who may be 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 September 2023, the latest date for which complete CAR data is currently available.
So, without further ado, the latest numbers follow below:
Exposures & Market Share as of September 2023
COMPANYPREMIUMSMARKET SHARE1. COMMERCE120,306,29013.81%2. SAFETY98,866,47711.35%3. ARBELLA95,161,74610.92%4. PROGRESSIVE77,402,8528.88%5. TRAVELERS62,814,3367.21%6. PLYMOUTH ROCK41,491,5154.76%7. TOKIO MARINE & NACHIDO35,211,0114.04%8. FIREMAN’S31,917,0883.66%9. ZURICH24,866,5402.85%10. LIBERTY MUTUAL INS23,493,4712.70%11. HANOVER23,065,3592.65%12. SELECTIVE INSURANCE21,058,2462.42%13. UTICA16,132,4761.85%14. TWIN CITY FIRE INS16,065,1701.84%15. OLD REPUBLIC13,814,4241.59%16. GREAT AMERICAN13,521,5411.55%17. NATIONAL GRANGE11,631,4011.33%18. GREEN MOUNTAIN9,656,6091.11%19. FEDERATED MUTUAL9,425,1371.08%20. NEW HAMPSHIRE9,207,8471.06%21. ARGONAUT9,055,4761.04%22. AMERICAN CASUALTY8,954,1011.03%23. EMPLOYERS MUTUAL8,473,6350.97%24. FEDERAL7,932,8460.91%25. N&D MUTUAL7,218,5300.83%26. FARM FAMILY7,110,4320.82%27. CENTRAL MUTUAL INS6,439,9610.74%28. CINCINNATI5,257,3770.60%29. US FIRE5,093,7140.58%30. BANKERS4,849,9400.56%31. ARCH4,344,5110.50%32. MIDDLESEX INS CO4,301,6960.49%33. IMPERIUM4,090,7630.47%34. MERCH MUTUAL4,014,3800.46%35. STARR INDEMNITY3,172,2810.36%36. QUINCY MUTUAL2,671,9910.31%37. NEW YORK AND GENERAL INS2,466,1190.28%38. HARLEYSVILLE INS2,101,6710.24%39. PREFERRED MUTUAL1,903,4540.22%40. MOTORISTS1,850,1490.21%41. LANCER INSURANCE CO.1,748,9820.20%42. STATE AUTO1,481,9860.17%43. PROTECTIVE1,345,2300.15%44. ATLANTIC SPECIALTY1,246,8550.14%45. GEICO1,006,5130.12%46. CHURCH MUTUAL947,3110.11%47. BERKSHIRE HATHAWAY921,2900.11%48. SECURITY NATIONAL812,7610.09%49. EVEREST NATIONAL758,8460.09%50. PENN LUMBERMENS590,1820.07%51. GREENWICH585,2110.07%52. AMERICAN AUTOMOBILE471,0540.05%53. PENN MNFCT ASSC INS470,8340.05%54. ALLSTATE427,8940.05%55. AXIS REINSURANCE328,6650.04%56. FALLS LAKE283,4280.03%57. MITSUI SUMITOMO242,8980.03%58. SOMPO AMERICA224,5880.03%59. AMERICAN FAMILY199,6760.02%60. RLI178,0430.02%61. QBE150,5460.02%62. STARSTONE NATIONAL135,4370.02%63. AMICA MUTUAL134,8670.02%64. STATE FARM74,2590.01%65. GUIDEONE MUTUAL49,5980.01%66. CUMIS37,0980.00%67. AMERICAN ALTERNATIVE30,9890.00%68. MARKEL AMERICAN9,7260.00%69. T.H.E. INS CO6870.00%70. ALLIED WORLD SPECIALTY-940.00%TOTALS871,307,923100.00%
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 10 Commercial Auto Insurers as of September 2023, as compared to similar September in 2022, September 2021, September 2020, and September 2019. Following these comparisons, there are two more comparisons with, one from five years ago in September 2023 and then the last from ten years ago in September 2013.
Each year can be compared by sliding the window to either the left or right on each of the graph comparisons below.
Use the arrows to slide over each graph to view them individually or for further comparison.
September 2023 v. September 2022
September 2023 v. September 2021
September 2023 v. September 2020
September 2023 v. September 2019
5-Year Comparison
Use the arrows to slide over each graph to view them individually or for further comparison.
September 2023 v. September 2018
10-Year Comparison
Use the arrows to slide over each graph to view them individually or for further comparison
September 2023 v. September 2013
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:
2023 Market Share Reports
2022 Market Share Reports
