State of the Market as of Could 2024
Each different month, Company Checklists publishes a bi-monthly “check-up” on the present state of the Business Auto Insurance coverage market. The information reviewed for this line of insurance coverage is offered courtesy of the Commonwealth Automobile Reinsurers.
For these readers unfamiliar with the Commonwealth Car Reinsurers, “CAR” is the official statistical agent for motorcar insurance coverage within the Commonwealth of Massachusetts.
The final word intention of those “appears” is to get a greater sense of the tendencies and actions occurring inside this line of insurance coverage. For our present replace, the info displays the state of the market as of Could 2024, the newest date for which full CAR information is at the moment accessible.
Exposures & Market Share
| COMPANY | PREMIUMS | MARKET SHARE |
|---|---|---|
| COMMERCE | 77,054,372 | 14.67% |
| SAFETY | 70,815,956 | 13.48% |
| ARBELLA | 58,303,219 | 11.10% |
| PROGRESSIVE | 53,871,132 | 10.26% |
| TRAVELERS | 38,281,678 | 7.29% |
| PLYMOUTH ROCK | 25,736,328 | 4.90% |
| FIREMAN’S | 20,020,064 | 3.81% |
| TOKIO MARINE & NACHIDO | 18,506,403 | 3.52% |
| ZURICH | 15,368,489 | 2.93% |
| SELECTIVE INSURANCE | 13,747,039 | 2.62% |
| HANOVER | 13,655,903 | 2.60% |
| LIBERTY MUTUAL INS | 10,936,444 | 2.08% |
| TWIN CITY FIRE INS | 10,775,804 | 2.05% |
| UTICA | 8,872,409 | 1.69% |
| GREEN MOUNTAIN | 6,871,717 | 1.31% |
| AMERICAN CASUALTY | 6,537,269 | 1.24% |
| NATIONAL GRANGE | 6,477,656 | 1.23% |
| FEDERATED MUTUAL | 5,708,822 | 1.09% |
| FEDERAL | 5,297,602 | 1.01% |
| FARM FAMILY | 4,794,775 | 0.91% |
| EMPLOYERS MUTUAL | 4,411,938 | 0.84% |
| CENTRAL MUTUAL INS | 4,260,733 | 0.81% |
| N&D MUTUAL | 4,203,653 | 0.80% |
| NEW HAMPSHIRE | 3,696,194 | 0.70% |
| BANKERS | 3,284,080 | 0.63% |
| NEW YORK AND GENERAL INS | 3,188,181 | 0.61% |
| US FIRE | 3,070,335 | 0.58% |
| MIDDLESEX INS CO | 2,944,490 | 0.56% |
| CINCINNATI | 2,797,634 | 0.53% |
| MERCH MUTUAL | 2,340,362 | 0.45% |
| OLD REPUBLIC | 2,266,462 | 0.43% |
| GREAT AMERICAN | 1,951,178 | 0.37% |
| ARCH | 1,669,632 | 0.32% |
| QUINCY MUTUAL | 1,568,000 | 0.30% |
| GEICO | 1,409,184 | 0.27% |
| MOTORISTS | 1,205,093 | 0.23% |
| MOBILITAS GENERAL INS. | 1,008,034 | 0.19% |
| PREFERRED MUTUAL | 991,616 | 0.19% |
| ARGONAUT | 887,807 | 0.17% |
| LANCER INSURANCE CO. | 843,462 | 0.16% |
| ATLANTIC SPECIALTY | 736,989 | 0.14% |
| HARLEYSVILLE INS | 683,923 | 0.13% |
| SECURITY NATIONAL | 628,803 | 0.12% |
| IMPERIUM | 614,122 | 0.12% |
| STATE AUTO | 573,419 | 0.11% |
| STARR INDEMNITY | 296,825 | 0.06% |
| GREENWICH | 284,106 | 0.05% |
| AMERICAN AUTOMOBILE | 214,449 | 0.04% |
| PENN LUMBERMENS | 192,031 | 0.04% |
| CHURCH MUTUAL | 189,558 | 0.04% |
| PENN MNFCT ASSC INS | 140,185 | 0.03% |
| FALLS LAKE | 135,802 | 0.03% |
| SOMPO AMERICA | 131,018 | 0.02% |
| EVEREST NATIONAL | 127,333 | 0.02% |
| BERKSHIRE HATHAWAY | 124,519 | 0.02% |
| AXIS REINSURANCE | 86,213 | 0.02% |
| QBE | 82,448 | 0.02% |
| RLI | 81,643 | 0.02% |
| PROTECTIVE | 63,100 | 0.01% |
| ALLIED WORLD SPECIALTY | 43,109 | 0.01% |
| STATE FARM | 34,189 | 0.01% |
| CUMIS | 31,510 | 0.01% |
| GUIDEONE MUTUAL | 17,634 | 0.00% |
| MITSUI SUMITOMO | 17,340 | 0.00% |
| MARKEL AMERICAN | 1,824 | 0.00% |
| STARSTONE NATIONAL | 1,138 | 0.00% |
| 525,164,379 | 100.00% |
Company Checklists’ Proprietary Retrospective of the Business Auto Market
The next are graphs depicting the state of the Business Auto Insurance coverage Market over the previous 10 years. The primary graph exhibits the highest ten Business Auto Insurers as of Could 2024, in comparison with Could 2023, Could 2022, Could 2021, and Could 2020. Following these comparisons are two extra: one from 5 years in the past, Could 2019, and the final from ten years in the past, Could 2014.
Utilizing the sliders, you possibly can evaluate every year by sliding the window to the left or proper on every graph comparability beneath.
Use the arrows to slip over every graph to view them individually or for additional comparability.
Could 2024 v. Could 2023
Could 2024 v. Could 2022
Could 2024 v. Could 2021
Could 2024 v. Could 2020
5-12 months Comparability
Use the arrows to slip over every graph to view them individually or for additional comparability.
Could 2024 v. Could 2019
10-12 months Comparability
Use the arrows to slip over every graph to view them individually or for additional comparability
Could 2024 v. Could 2014
Previous Market Share Stories
For these concerned with reviewing all of our bi-monthly updates all through 2022 & 2023 in an effort to get a way of how the Business Auto Insurance coverage market continues to evolve, please discover hyperlinks to Company Checklists’ earlier updates beneath:
2024 Market Share Report
1st Look 2024: The MA Commercial Auto Insurance Marketplace
2023 Market Share Stories
