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 publication of this data, Agency Checklists is providing a distillation report in the coming weeks that has the highest insurance in these markets in Massachusetts and in New England.
Premium division and market in Massachusetts – Total All Lines
Six of the ten largest All Lines insurers continue to be located 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 total insurance market. Overall, the top 10 insurers account for 50.36% of the market. The following table highlights these insurance policies along with additional cost and loss calculations.
| Responsibility | Group/ Company Name | Written Direct Income (000) | Direct Income Earned (000) | Risk of Loss | Loss & Containment Ratio | market share | Cumulative Market Share |
|---|---|---|---|---|---|---|---|
| 1 | Opinions of the company MAPFRE INS GRP | 1,646,235 | 1,674,088 | 54.68 % | 55.52 % | 8.98 % | 8.98 % |
| 2 | Opinions of the company LIBERTY MUT GRP | 1,375,094 | 1,370,118 | 54.02 % | 56.33 percent | 7.50 % | 16.48 % |
| 3 | Company opinion BERKSHIRE HATHAWAY GRP | 1,218,381 | 1,135,012 | 67.41 percent | 70.06 % | 6.65 % | 23.13 percent |
| 4 | TRAVELERS GRP | 1,012,685 | 962,044 | 44.17 percent | 47.85 % | 5.52 % | 28.65 % |
| 5 | Company opinion CHUBB LTD GRP | 910,551 | 881,530 | 39.36 percent | 45.90 % | 4.97 % | 33.62 % |
| 6 | Opinions of the company ARBELLA INS GRP | 810,066 | 802,256 | 47.36 percent | 49.85 percent | 4.42 % | 38.04 % |
| 7 | HEALTH GRP | 765,007 | 775,210 | 48.04 % | 49.08 % | 4.17 % | 42.21% |
| 8 | Company opinion PLYMOUTH ROCK INS GRP | 542,984 | 537,637 | 48.76 percent | 50.43 percent | 2.96 % | 45.18 % |
| 9 | History of HANOVER INS GRP | 477,963 | 467,497 | 43.91 percent | 47.55 % | 2.61 % | 47.78 percent |
| 10 | PROGRESSIVE GRP | 471,655 | 447,214 | 56.59 percent | 58.16 % | 2.57 % | 50.36 % |
| ***VIEW ALL*** | 18,330,652 | 17,684,283 | 48.40% | 52.06 % | 100.00 % | 50.36 % |
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. Notably, while Liberty Mutual is the second largest insurer in Massachusetts, it is the largest in Vermont, and among the top five in the remaining New England states. Two direct insurers, Progressive and GEICO, are the largest insurers in Rhode Island and Connecticut, respectively. The following is a look at each of the five other New England state markets:
Connecticut
| Responsibility | Group/ Company Name | Written Direct Income (000) | Direct Income Earned (000) | Risk of Loss | Loss & Containment Ratio | market share | Cumulative Market Share |
|---|---|---|---|---|---|---|---|
| 1 | Company opinion BERKSHIRE HATHAWAY GRP | 769,331 | 748,985 | 80.58 % | 86.88 % | 7.68 % | 7.68 % |
| 2 | LIBERTY MUT GR | 692,226 | 677,039 | 70.35 % | 74.74 percent | 6.91 % | 14.59 % |
| 3 | TRAVELERS GRP | 671,391 | 652,681 | 44.37 percent | 48.45 % | 6.70 % | 21.30 % |
| 4 | Company opinion CHUBB LTD GRP | 604,180 | 586,930 | 52.51 % | 58.19 % | 6.03 % | 27.33 percent |
| 5 | PROGRESSIVE GRP | 513,414 | 493,578 | 66.25% | 68.55 % | 5.13 % | 32.45 % |
| 6 | ALLSTATE INS GRP | 501,808 | 506,087 | 60.98 % | 62.04 % | 5.01 % | 37.46 percent |
| 7 | HARTFORD FIRE & CAS GRP | 442,962 | 438,946 | 56.93 percent | 63.31 % | 4.42 % | 41.89 percent |
| 8 | Company opinion STATE FARM GRP | 424,676 | 404,836 | 73.25 % | 76.27% | 4.24 % | 46.13 percent |
| 9 | FARMERS INS GRP | 275,246 | 272,384 | 64.40% | 65.49 percent | 2.75 % | 48.87 percent |
| 10 | UNITED SERV AUTOMOBILE ASSN GRP | 266,043 | 262,469 | 60.04 % | 61.14 % | 2.66 % | 51.53 % |
| ***VIEW ALL*** | 10,016,170 | 9,692,097 | 60.96 % | 65.97 % | 100.00 % | 51.53 % |
Maine
| Responsibility | Group/ Company Name | Written Direct Income (000) | Direct Income Earned (000) | Risk of Loss | Loss & Containment Ratio | market share | Cumulative Market Share |
|---|---|---|---|---|---|---|---|
| 1 | Opinions of the company LIBERTY MUT GRP | 237,124 | 229,253 | 44.04 % | 46.48 percent | 8.56 % | 8.56 % |
| 2 | Company opinion STATE FARM GRP | 182,101 | 176,198 | 52.60 % | 53.38 % | 6.57 % | 15.13 % |
| 3 | MAINE EMPLOYERS MUT INS GRP | 172,394 | 166,356 | 53.01 % | 56.88 % | 6.22 % | 21.35 % |
| 4 | PROGRESSIVE GRP | 170,030 | 165,118 | 58.53 % | 59.02 % | 6.14 % | 27.48 percent |
| 5 | Company opinion BERKSHIRE HATHAWAY GRP | 136,23 | 133,088 | 69.49 percent | 70.87 % | 4.92 % | 32.40 % |
| 6 | History of HANOVER INS GRP | 134,333 | 130,695 | 32.47 percent | 35.10 % | 4.85 % | 37.25% |
| 7 | TRAVELERS GRP | 129,401 | 118,810 | 44.10 % | 46.48 percent | 4.67 % | 41.92 percent |
| 8 | Company opinion WR BERKLEY CORP GRP | 118,410 | 112,325 | 39.53 percent | 40.91 percent | 4.27 % | 46.19 % |
| 9 | ALLSTATE INS GRP | 117,744 | 119,380 | 45.02 % | 45.45 percent | 4.25% | 50.44 % |
| 10 | Opinions of the company MMG INS CO | 95,781 | 93,102 | 45.49 percent | 47.35 percent | 3.46 % | 53.89 % |
| ***VIEW ALL*** | 2,771,319 | 2,674,372 | 48.05 % | 50.34 % | 100.00 % | 53.89 % |
New Hampshire
| Responsibility | Group/ Company Name | Written Direct Income (000) | Direct Income Earned (000) | Risk of Loss | Loss & Containment Ratio | market share | Cumulative Market Share |
|---|---|---|---|---|---|---|---|
| 1 | Opinions of the company LIBERTY MUT GRP | 274,839 | 271,226 | 39.31 % | 41.15 percent | 9.70% | 9.70% |
| 2 | Company opinion STATE FARM GRP | 174,582 | 168,162 | 57.44 percent | 58.14 % | 6.16 % | 15.86 % |
| 3 | Company opinion BERKSHIRE HATHAWAY GRP | 167,867 | 164,492 | 58.88 % | 59.95 % | 5.92 % | 21.78 % |
| 4 | PROGRESSIVE GRP | 163,003 | 159,050 | 56.91 % | 57.48 % | 5.75 % | 27.53 percent |
| 5 | ALLSTATE INS GRP | 149,926 | 150,131 | 44.23 percent | 44.64 percent | 5.29 % | 32.82 % |
| 6 | Company opinion WR BERKLEY CORP GRP | 128,218 | 121,657 | 44.98 % | 48.85 % | 4.52 % | 37.34 percent |
| 7 | TRAVELERS GRP | 124,286 | 117,024 | 40.61 % | 45.03 % | 4.39 % | 41.73 percent |
| 8 | UNITED SERV AUTOMOBILE ASSN GRP | 99,720 | 97,012 | 52.87 % | 53.63 percent | 3.52 % | 45.25 percent |
| 9 | History of HANOVER INS GRP | 87,877 | 85,638 | 30.87 % | 33.87 percent | 3.10 % | 48.35 % |
| 10 | E ALL ISSUES GRP | 71,794 | 72,524 | 50.76 % | 51.90 % | 2.53 % | 50.88 % |
| ***VIEW ALL*** | 2,834,333 | 2,756,343 | 45.17 percent | 47.82 percent | 100.00 % | 50.88 % |
Rhode Island
| Responsibility | Group/ Company Name | Written Direct Income (000) | Direct Income Earned (000) | Risk of Loss | Loss & Containment Ratio | market share | Cumulative Market Share |
|---|---|---|---|---|---|---|---|
| 1 | PROGRESSIVE GRP | 311,021 | 300,866 | 55.97 % | 57.07 % | 10.80 % | 10.80 % |
| 2 | Company opinion BERKSHIRE HATHAWAY GRP | 206,091 | 203,667 | 68.19 % | 72.90 % | 7.16 % | 17.96 % |
| 3 | ALLSTATE INS GRP | 186,153 | 183,302 | 55.99 % | 57.89 % | 6.46 % | 24.42 percent |
| 4 | Opinions of the company LIBERTY MUT GRP | 169,476 | 157,995 | 53.12 % | 56.16 % | 5.88 % | 30.30% |
| 5 | FRIENDS MUT GRP | 161,523 | 188,163 | 54.60 % | 56.94 % | 5.61 % | 35.91 % |
| 6 | TRAVELERS GRP | 115,314 | 111,543 | 61.80 % | 67.60% | 4.00 % | 39.92 % |
| 7 | UNITED SERV AUTOMOBILE ASSN GRP | 109,218 | 107,513 | 62.47 percent | 63.38 % | 3.79 % | 43.71 percent |
| 8 | Opinions of the company NATIONWIDE CORP GRP | 104,649 | 103,916 | 63.46 percent | 65.72 % | 3.63 % | 47.34 percent |
| 9 | Company opinion CHUBB LTD GRP | 102,743 | 96,689 | 63.96 percent | 70.94 % | 3.57 % | 50.91 % |
| 10 | Company opinion BEACON MUT GRP | 99,065 | 101,519 | 54.23 % | 58.73 % | 3.44 % | 54.35 % |
| ***VIEW ALL*** | 2,879,868 | 2,830,657 | 54.85 % | 58.14 % | 100.00 % | 54.35 % |
Vermont
| Responsibility | Group/ Company Name | Written Direct Income (000) | Direct Income Earned (000) | Risk of Loss | Loss & Containment Ratio | market share | Cumulative Market Share |
|---|---|---|---|---|---|---|---|
| 1 | Opinions of the company LIBERTY MUT GRP | 123,957 | 123,785 | 53.64 % | 56.11 % | 8.75 % | 8.75 % |
| 2 | Company opinion BERKSHIRE HATHAWAY GRP | 98,45 | 97,254 | 69.38 percent | 73.04 % | 6.95 % | 15.69 |
| 3 | PROGRESSIVE GRP | 92,499 | 90,853 | 52.56 % | 53.18 % | 6.53 % | 22.22% |
| 4 | TRAVELERS GRP | 72,009 | 70,700 | 36.02 % | 38.21 % | 5.08 % | 27.30 % |
| 5 | Company opinion COS | 64,527 | 63,142 | 42.12 percent | 42.33 percent | 4.55 % | 31.85 % |
| 6 | VERMONT MUT GRP | 64,141 | 63,485 | 35.33 percent | 35.20% | 4.53 % | 36.38 % |
| 7 | Company opinion WR BERKLEY CORP GRP | 57,803 | 55,869 | 29.24 % | 30.66 percent | 4.08 % | 40.45 % |
| 8 | Company opinion STATE FARM GRP | 54,825 | 52,841 | 58.09 % | 58.31 % | 3.87 % | 44.32 percent |
| 9 | SINGLE OWNER GRP | 41,526 | 41,656 | 66.29 percent | 67.25% | 2.93 % | 47.25% |
| 10 | UNITED SERV AUTOMOBILE ASSN GRP | 38,204 | 37,475 | 44.74 percent | 46.11 % | 2.70 % | 49.95 % |
| ***STAND ALL*** | 1,417,381 | 1,385,873 | 45.11 percent | 47.18 percent | 100.00 % | 49.95 % |
