Top 10 insurance boilers & Machinery | 2022 New England Market Share Report


The National Association of Insurance Commissioners has released a new in-depth report on the 2021 market share for property & casualty insurers. A total of 33 business lines have been analyzed at the national and state level. In response to the release of this data, Agency Checklists is releasing a distillation report in the coming weeks that has top insurers in various markets in Massachusetts and New England.

Boiler & Machinery Market in Massachusetts

Company Name Written Direct Income (000) Direct Income
Earnings (000)
Risk of Loss Loss & Containment Ratio market share Cumulative Market Share
1. FM GLOBAL GRP 16,461 15,443 54.27 percent 54.83 % 35.02 % 35.02 %
2. CHUBB LTD GRP 5,763 5,590 17.13 % 17.66 % 12.26 % 47.28%
3. TRAVELERS GRP 3,589 3,448 49.34 percent 49.87 percent 7.64 % 54.91 %
4. ZURICH INS GRP 3,103 2,546 2.54 % 2.54 % 6.60 % 61.51 %
5. AMERICAN INTL GRP 3,082 3,399 10.51 % 11.27 % 6.56 % 68.07 %
6. CNA INS GRP 1,716 1,619 15.32 % 15.29 % 3.65 % 71.72 percent
7. WR BERKLEY CORP GRP 1,681 1,638 17.11 % 18.75 % 3.58 % 75.30%
8. LIBERTY MUT GRP 1,671 1,322 N/A 0.76 % 3.55 % 78.85 %
9. MUNICH RE GRP 1,584 1,168 7.09 % 7.11 % 3.37 % 82.22 %
10. SELECTING INS GRP 1,283 1,267 16.03 % 16.03 % 2.73 % 84.95 %
***VIEW ALL*** 47,007 44,672 29.14 % 29.13 percent 100.00 % 84.95 %

Market Share Data for all of New England

Since many of our readers are from all over New England, the following are additional pictures of the top ten insurance companies in five other New England counties. The following shows the top 10 insurance companies in this market for the rest of New England. Rest assured, FM Global is the top insurer in every state in New England.

Connecticut

Company Name Written Direct Income (000) Direct Income
Earnings (000)
Risk of Loss Loss & Containment Ratio market share Cumulative Market Share
1. FM GLOBAL GRP 5,797 6,460 70.77 percent 71.73 percent 27.11 % 27.11 %
2. CHUBB LTD GRP 3,997 4,047 19.36 % 19.74 % 18.70% 45.81 %
3. AMERICAN INTL GRP 1,615 1,162 15.84 % 16.71 % 7.55 % 53.36 percent
4. TRAVELERS GRP 1,607 1,554 12.59 % 13.12 % 7.52 % 60.88 %
5. ZURICH INS GRP 1,234 1,200 1.37 % 1.37 % 5.77 % 66.65 %
6. SELECTING INS GRP 1,057 1,018 4.14 % 4.14 % 4.94 % 71.60 %
7. WR BERKLEY CORP GRP 621 586 23.29% 23.83 percent 2.90 % 74.50 %
8. CHALOWA INS HOLDINGS GRP 495 414 13.35 % 13.79 % 2.32 % 76.82 %
9. LIBERTY MUT GRP 455 342 N/A N/A 2.13 % 78.95 %
10. AXA INS GRP 448 433 N/A N/A 2.10% 81.04 %
***VIEW ALL*** 21,380 21,834 29.39 percent 29.35 % 100.00 % 81.04 %

Maine

Company Name Written Direct Income (000) Direct Income
Earnings (000)
Risk of Loss Loss & Containment Ratio market share Cumulative Market Share
1. FM GLOBAL GRP 4,372 4,200 23.81 % 25.20% 40.34 % 40.34 %
2. WR BERKLEY CORP GRP 1,503 1,437 3.46 % 3.46 % 13.86 % 54.20%
3. FRANKENMUTH GRP 1,071 1,037 2.15 % 1.93 % 9.88 % 64.08 %
4. CHUBB LTD GRP 714 573 15.51 % 16.00 % 6.59 % 70.68 percent
5. TRAVELERS GRP 688 714 7.07 % 7.25 % 6.35 % 77.02 %
6. ZURICH INS GRP 438 362 N/A N/A 4.04 % 81.06 %
7. AMERICAN INTL GRP 394 282 15.38 % 16.29 % 3.63 % 84.70%
8. LIBERTY MUT GRP 353 331 N/A N/A 3.26 % 87.96 %
9. THE HANOVER INS GRP 213 187 2.93 % 2.98 % 1.96 % 89.92 %
10. SWISS RE GRP 163 519 N/A N/A 1.51 % 91.42 %
***VIEW ALL*** 10,839 10,529 9.47 % 10.03 % 100.00 % 91.42 %

New Hampshire

Company Name Written Direct Income (000) Direct Income Earned Risk of Loss Loss & Containment Ratio market share Cumulative Market Share
1. FM GLOBAL GRP 2,286 2,216 3.01 % 3.01 % 26.48 percent 26.48 percent
2. AMERICAN INTL GRP 1,092 1,024 8.00 % 8.53 % 12.65 % 39.13 percent
3. WR BERKLEY CORP GRP 920 883 21.56 percent 22.33 percent 10.66 percent 49.79 percent
4. ZURICH INS GRP 902 706 5.97 % 5.97 % 10.45 % 60.23%
5. CHUBB LTD GRP 589 569 17.27 % 17.74 % 6.83 % 67.06 %
6. AXA INS GRP 318 236 N/A N/A 3.69 percent 70.75 %
7. FRANKENMUTH GRP 290 282 29.45 % 29.25% 3.37 % 74.11 %
8. LIBERTY MUT GRP 253 227 N/A N/A 2.93 % 77.04 %
9. TRAVELERS GRP 219 237 2.14 % 1.92 % 2.53 % 79.57 %
10. MUNICH RE GRP 191 149 5.76 % 5.63 % 2.22 % 81.79 %
***VIEW ALL*** 8,631 8,240 9.27 % 9.16 % 100.00 % 81.79 %

Rhode Island

Company Name Written Direct Income (000) Direct Income Earned Risk of Loss Loss & Containment Ratio market share Cumulative Market Share
1. FM GLOBAL GRP 1,283 1,359 4.97 % 4.89 % 19.38 % 19.38 %
2. CHUBB LTD GRP 716 717 21.11 % 20.44 percent 10.81 % 30.19 %
3. TRAVELERS GRP 539 520 119.50 % 124.38 % 8.14 % 38.33 percent
4. ZURICH INS GRP 536 430 4.39 % 4.39 % 8.10 % 46.43 percent
5. AMERICAN INTL GRP 482 373 N/A N/A 7.29 % 53.72 percent
6. CHOLOWA INSTITU HOLDINGS GRP 464 424 19.37 % 19.61 % 7.01 % 60.73 percent
7. SELECTING INS GRP 441 402 65.13 percent 65.13 percent 6.67 % 67.39 percent
8. EMC INS CO GRP 278 290 N/A N/A 4.20 % 71.59 percent
9. LIBERTY MUT GRP 258 214 9.08 % 8.26 % 3.90 % 75.50%
10. NATIONWIDE CORP GRP 224 211 N/A N/A 3.38 % 78.88 %
***VIEW ALL*** 6,621 6,270 23.02 % 22.71 % 100.00 % 78.88 %

Vermont

Company Name Written Direct Income (000) Direct Income Earned Risk of Loss Loss & Containment Ratio market share Cumulative Market Share
1. FM GLOBAL GRP 1,866 1,770 0.00 % 0.00 % 32.38 % 32.38 %
2. WR BERKLEY CORP GRP 704 670 5.29 % 6.12 % 12.22 % 44.60 percent
3. TRAVELERS GRP 565 483 10.39 % 10.80 % 9.81 % 54.41 %
4. ZURICH INS GRP 422 230 10.24 % 10.24 % 7.32 % 61.73 percent
5. AMERICAN INTL GRP 382 366 5.66 % 6.48 % 6.63 % 68.36 %
6. FRANKENMUTH GRP 380 358 7.33 % 7.22 % 6.59 % 74.95 %
7. LIBERTY MUT GRP 223 180 16.09 % 19.60 % 3.88 % 78.83 %
8. CNA INS GRP 186 191 N/A N/A 3.23 % 82.06 %
9. NATIONWIDE CORP GRP 174 170 23.61 percent 23.61 percent 3.03 % 85.08 %
10. MUNICH RE GRP 155 119 3.39 % 2.86 % 2.68 % 87.76 %
***VIEW ALL*** 5,762 5,325 3.26 % 3.50 % 100.00 % 87.76 %

Other New England Market Share reports

The following is a list of other New England market reports for selected lines of business as published in the NAIC report.

Top 10 Insurance Companies All Lines | 2022 New England Market Share Report