Top 10 Insurers Total All Lines | 2022 New England Market Share Report

The National Association of Insurance Commissioners has issued a new in-depth report on the 2021 market share data for insurers within the Property & Casualty marketplace. A total of 33 lines of business have been analyzed both at the national and state level. In response to the publication of this data, Agency Checklists is providing a distillation of the report over the coming weeks featuring the top insurers in these marketplaces in both Massachusetts as well as the rest of the New England states.

Premium and market share in Massachusetts – Total All Lines

Six out the ten largest insurers All Lines continue to be based in Massachusetts. These are MAPFRE, Liberty Mutual, Arbella, Safety, Plymouth Rock, and The Hanover. MAPFRE continues to be the largest insurer in Massachusetts with an 8.98% share of the overall insurance market. In total, the top 10 largest insurers claim a cumulative market share of 50.36% of the market. The following table highlights these insurers along with additional information on premium and loss ratios.

RankGroup/Company NameDirect Premiums Written (000)Direct Premiums Earned (000)Loss RatioLoss & Containment RatioMarket ShareCumulative Market Share1MAPFRE INS GRP1,646,2351,674,08854.68 %55.52 %8.98 %8.98 %2LIBERTY MUT GRP1,375,0941,370,11854.02 %56.33 %7.50 %16.48 %3BERKSHIRE HATHAWAY GRP1,218,3811,135,01267.41 %70.06 %6.65 %23.13 %4TRAVELERS GRP1,012,685962,04444.17 %47.85 %5.52 %28.65 %5CHUBB LTD GRP910,551881,53039.36 %45.90 %4.97 %33.62 %6ARBELLA INS GRP810,066802,25647.36 %49.85 %4.42 % 38.04 %7SAFETY GRP765,007775,21048.04 %49.08 %4.17 %42.21 %8PLYMOUTH ROCK INS GRP542,984537,63748.76 %50.43 %2.96 %45.18 %9THE HANOVER INS GRP477,963467,49743.91 %47.55 %2.61 %47.78 %10PROGRESSIVE GRP471,655447,21456.59 %58.16 %2.57 %50.36 %***STATE TOTAL***18,330,65217,684,28348.40 %52.06 %100.00 %50.36 %

Market Share Data for the rest of New England

Since many of our readers hail from all over New England, the following are additional snapshots of the top ten insurers for each of the other five New England states. Of note, while Liberty Mutual is the second-largest insurer in Massachusetts, it is actually the largest in Vermont, and within the top five largest in the remaining New England states. Two direct writers, Progressive and GEICO, are the largest insurers in Rhode Island and Connecticut, respectively. The following are a look at each of the five other New England state’s market share data:

Connecticut

RankGroup/Company NameDirect Premiums Written (000)Direct Premiums Earned (000)Loss RatioLoss & Containment RatioMarket ShareCumulative Market Share1BERKSHIRE HATHAWAY GRP769,331748,98580.58 %86.88 %7.68 %7.68 %2LIBERTY MUT GR692,226677,03970.35 % 74.74 %6.91 %14.59 %3TRAVELERS GRP671,391652,68144.37 %48.45 %6.70 %21.30 %4CHUBB LTD GRP604,180586,93052.51 %58.19 %6.03 %27.33 %5PROGRESSIVE GRP513,414493,57866.25 %68.55 %5.13 %32.45 %6ALLSTATE INS GRP501,808506,08760.98 %62.04 %5.01 %37.46 %7HARTFORD FIRE & CAS GRP442,962438,94656.93 %63.31 %4.42 %41.89 %8STATE FARM GRP424,676404,83673.25 %76.27 %4.24 %46.13 %9FARMERS INS GRP275,246272,38464.40 %65.49 %2.75 %48.87 %10UNITED SERV AUTOMOBILE ASSN GRP266,043262,46960.04 %61.14 %2.66 %51.53 %***STATE TOTAL***10,016,1709,692,09760.96 %65.97 %100.00 %51.53 %

Maine

RankGroup/Company NameDirect Premiums Written (000)Direct Premiums Earned (000)Loss RatioLoss & Containment RatioMarket ShareCumulative Market Share1LIBERTY MUT GRP237,124229,25344.04 %46.48 %8.56 %8.56 %2STATE FARM GRP182,101176,19852.60 %53.38 %6.57 %15.13 %3MAINE EMPLOYERS MUT INS GRP172,394166,35653.01 %56.88 %6.22 %21.35 %4PROGRESSIVE GRP170,030165,11858.53 %59.02 %6.14 %27.48 %5BERKSHIRE HATHAWAY GRP136,23133,08869.49 %70.87 %4.92 %32.40 %6THE HANOVER INS GRP134,333130,69532.47 %35.10 %4.85 %37.25 %7TRAVELERS GRP129,401118,81044.10 %46.48 %4.67 %41.92 %8WR BERKLEY CORP GRP118,410112,32539.53 %40.91 %4.27 %46.19 %9ALLSTATE INS GRP117,744119,38045.02 %45.45 %4.25 %50.44 %10MMG INS CO95,78193,10245.49 %47.35 %3.46 %53.89 %***STATE TOTAL***2,771,3192,674,37248.05 %50.34 %100.00 %53.89 %

New Hampshire

RankGroup/Company NameDirect Premiums Written (000)Direct Premiums Earned (000)Loss RatioLoss & Containment RatioMarket ShareCumulative Market Share1LIBERTY MUT GRP274,839271,22639.31 %41.15 %9.70 %9.70 %2STATE FARM GRP174,582168,16257.44 %58.14 %6.16 %15.86 %3BERKSHIRE HATHAWAY GRP167,867164,49258.88 %59.95 %5.92 %21.78 %4PROGRESSIVE GRP163,003159,05056.91 %57.48 %5.75 %27.53 %5ALLSTATE INS GRP149,926150,13144.23 %44.64 %5.29 %32.82 %6WR BERKLEY CORP GRP128,218121,65744.98 %48.85 %4.52 %37.34 %7TRAVELERS GRP124,286117,02440.61 %45.03 %4.39 %41.73 %8UNITED SERV AUTOMOBILE ASSN GRP99,72097,01252.87 %53.63 %3.52 %45.25 %9THE HANOVER INS GRP87,87785,63830.87 %33.87 %3.10 %48.35 %10AUTO OWNERS GRP71,79472,52450.76 %51.90 %2.53 %50.88 %***STATE TOTAL***2,834,3332,756,34345.17 %47.82 %100.00 %50.88 %

Rhode Island

RankGroup/Company NameDirect Premiums Written (000)Direct Premiums Earned (000)Loss RatioLoss & Containment RatioMarket ShareCumulative Market Share1PROGRESSIVE GRP311,021300,86655.97 %57.07 %10.80 %10.80 %2BERKSHIRE HATHAWAY GRP206,091203,66768.19 %72.90 %7.16 %17.96 %3ALLSTATE INS GRP186,153183,30255.99 %57.89 %6.46 %24.42 %4LIBERTY MUT GRP169,476157,99553.12 %56.16 %5.88 %30.30 %5AMICA MUT GRP161,523188,16354.60 %56.94 %5.61 %35.91 %6TRAVELERS GRP115,314111,54361.80 %67.60 %4.00 %39.92 %7UNITED SERV AUTOMOBILE ASSN GRP109,218107,51362.47 %63.38 %3.79 %43.71 %8NATIONWIDE CORP GRP104,649103,91663.46 %65.72 %3.63 %47.34 %9CHUBB LTD GRP102,74396,68963.96 %70.94 %3.57 %50.91 %10BEACON MUT GRP99,065101,51954.23 %58.73 %3.44 %54.35 %***STATE TOTAL***2,879,8682,830,65754.85 %58.14 %100.00 %54.35 %

Vermont

RankGroup/Company NameDirect Premiums Written (000)Direct Premiums Earned (000)Loss RatioLoss & Containment RatioMarket ShareCumulative Market Share1LIBERTY MUT GRP123,957123,78553.64 %56.11 %8.75 %8.75 %2BERKSHIRE HATHAWAY GRP98,4597,25469.38 %73.04 %6.95 %15.693PROGRESSIVE GRP92,49990,85352.56 %53.18 %6.53 %22.22 %4TRAVELERS GRP72,00970,70036.02 %38.21 %5.08 %27.30 %5CO OPERATIVE INS COS64,52763,14242.12 %42.33 % 4.55 %31.85 %6VERMONT MUT GRP64,14163,48535.33 %35.20 %4.53 %36.38 %7WR BERKLEY CORP GRP57,80355,86929.24 %30.66 %4.08 % 40.45 %8STATE FARM GRP54,82552,84158.09 %58.31 %3.87 %44.32 %9AUTO OWNERS GRP41,52641,65666.29 %67.25 %2.93 %47.25 %10UNITED SERV AUTOMOBILE ASSN GRP38,20437,47544.74 %46.11 %2.70 %49.95 %***STATE TOTAL***1,417,3811,385,87345.11 %47.18 %100.00 %49.95 %