3rd Look 2022: The MA Commercial Auto Insurance Marketplace

This marks the third installment of Agency Checklists’ latest bi-monthly update on the current state of the Commercial Auto Insurance marketplace in Massachusetts. 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.

As always, all of the data presented here is provided courtesy of the Commonwealth Automobile Reinsurers and represents the state of the market through March 2022. For those unfamiliar with the Commonwealth Automobile Reinsurer, “CAR” is the official statistical agent for motor vehicle insurance in the Commonwealth of Massachusetts.

The Current State 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.

Turning to the most active commercial auto insurers in the state, seven of the top 10 commercial auto carriers operating in the Commonwealth continue to be headquartered in Massachusetts. The following is the complete list of Commercial Auto insurers with a major market share in Massachusetts through January 2022.

Highlights from this latest report are as follows:

While our Second Look reported only 47 commercial insurers appearing on the list for the January 2022 market share look, as of March 2022, the number of commercial auto insurers has increased to 67.MAPFRE/Commerce continues to be the top commercial auto insurer in the commonwealth with $37,901,403 in premiums after the first three months of 2022 representing a 14.58% market share.

The following is the most current list of insurers ranked by premiums and market share:

Commercial Auto Insurers in the Massachusetts Marketplace

COMPANYPREMIUMSMARKET SHARE1. COMMERCE37,901,40314.58%2. SAFETY33,324,55312.82%3. ARBELLA29,174,34411.22%4. PROGRESSIVE23,636,4819.09%5. TRAVELERS19,201,6707.39%6. PLYMOUTH ROCK13,209,5115.08%7. TOKIO MARINE & NACHIDO10,385,4504.00%8. FIREMAN’S10,157,2923.91%9. HANOVER7,757,9802.98%10. ZURICH6,255,6412.41%11. SELECTIVE INSURANCE6,191,1632.38%12. LIBERTY MUTUAL INS5,564,2502.14%13. TWIN CITY FIRE INS5,098,4191.96%14. UTICA4,509,3911.73%15. NATIONAL GRANGE3,911,4001.50%16. AMERICAN CASUALTY2,979,7911.15%17. EMPLOYERS MUTUAL2,958,7741.14%18. GREEN MOUNTAIN2,819,3691.08%19. GREAT AMERICAN2,769,9621.07%20. OLD REPUBLIC2,705,5821.04%21. FARM FAMLY2,646,6311.02%22. N&D MUTUAL2,423,5610.93%23. FEDERAL2,206,2990.85%24. NEW HAMPSHIRE2,141,3890.82%25. CENTRAL MUTUAL INS1,854,6520.71%26. FEDERATED MUTUAL1,808,8330.70%27. BANKERS1,587,6650.61%28. MERCH MUTUAL1,497,3160.58%29. CINCINNATI1,339,5310.52%30. ARCH1,325,6590.51%31. US FIRE1,307,5120.50%32. HARLEYSVILLE INS1,086,5290.42%33. QUINCY MUTUAL1,000,1090.38%34. MIDDLESEX INS CO898,8290.35%35. MOTORISTS690,3090.27%36. PREFERRED MUTUAL639,8610.25%37. STATE AUTO543,9160.21%38. LANCER INSURANCE CO.543,8320.21%39. IMPERIUM505,8150.19%40. GEICO454,8080.17%41. NEW YORK AND GENERAL INS368,8530.14%42. ALLSTATE302,1570.12%43. ATLANTIC SPECIALTY246,4340.09%44. PENN MNFCT ASSC INS238,0660.09%45. ARGONAUT236,1270.09%46. EVEREST NATIONAL207,0350.08%47. CHURCH MUTUAL183,2800.07%48. SOMPO AMERICA180,4990.07%49. STARR INDEMNITY166,3200.06%50. PENN LUMBERMENS144,4290.06%51. GREENWICH112,8220.04%52. AXIS REINSURANCE66,0400.03%53. RLI65,6310.03%54. AMERICAN AUTOMOBILE59,2940.02%55. SECURITY NATIONAL53,5390.02%56. AMICA MUTUAL52,0180.02%57. PROTECTIVE48,9070.02%58. BERKSHIRE HATHAWAY42,5080.02%59. QBE30,1930.01%60. HDI GLOBAL26,3830.01%61. CUMIS25,5010.01%62. GUIDEONE MUTUAL19,1880.01%63. MITSUI SUMITOMO17,7570.01%64. FALLS LAKE15,3900.01%65. STATE FARM7,7650.00%66. ALLIED WORLD SPECIALTY2,0920.00%67. AMERICAN HALLMARK4210.00%TOTALS259,934,131

Focus on the Top Ten Commercial Auto Insurers Over the Years

In order to give some perspective on the shifts in the Marketplace, the three graphs below present the Top Ten Commercial Auto insurers for the month of March 2022, followed by comparisons of past top ten data from five years earlier in March 2017, and then finally from a decade ago in March 2012.

March 2022

March 2017

March 2012

Past Market Share Reports

For those interested in reviewing all of our bi-monthly updates throughout 2020 and 2021, 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: