Top 10 Marine Services Companies | 2022 New England Market Share Reports


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.

NAIC states that in-depth reporting can serve a variety of useful purposes for individuals and organizations by providing them with “an understanding of market dynamics”. In addition, the NAIC believes it can help:

  • Analyze the insurance competition
  • Create benchmarks to compare companies
  • Get to know the best writers
  • Analyze the overall market size
  • Learn more about premium brands
  • Assess market penetration potential
  • Analyze the market effects after the merger

High Market Share

The following graphs are reprinted from the NAIC Property & Casualty Market Share Reports 2021 and show the trends in Premium over the past decade. According to the NAIC, Direct Written Premium increased by 9.44% from 2020 for all businesses.

Graph Source: NAIC

Top 10 Inland Marine Insurance Market Segments – Worldwide

Unlike our previous reports showing the Inland & Ocean market, the NAIC has divided Ocean Marine and Inland Marine into separate markets, which the Agency Checklists also did with regard to market share in the New England market.

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 4,055,426 4,022,300 64.94 percent 64.53 percent 13.60 % 13.60 %
2. CNA INS GRP 3,637,508 3,642,498 54.57 % 54.63 percent 12.20 % 25.80%
3. CHUBB LTD GRP 1,743,341 1,618,555 53.41 % 70.14 % 5.85 % 31.65 %
4. ALLIANZ INS GRP 1,401,633 1,281,705 39.11 % 39.13 percent 4.70 % 36.35 percent
5. AMERICAN INTL GRP 1,385,366 1,284,409 8.94 % 9.40 % 4.65 % 40.99 %
6. NATIONWIDE CORP GRP 1,145,187 1,061,718 68.57 % 68.81 % 3.84 % 44.83 percent
7. ASSURANT INC GRP 1,105,613 1,193,592 34.36 percent 34.36 percent 3.71 % 48.54 percent
8. ZURICH INS GRP 977,282 877,232 31.76 percent 34.24 percent 3.28 % 51.82 %
9. FM GLOBAL GRP 809,406 835,513 122.71 % 129.00 % 2.71 % 54.53 %
10. TRAVELERS GRP 788,738 768,854 46.42 percent 47.54 percent 2.65 % 57.18 %

Top 10 Inland Marine Insurance Market Segments – Massachusetts

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 103,541 102,818 59.54 % 54.84 % 14.91 % 14.91 %
2. CHUBB LTD GRP 59,697 57,950 39.66 percent 58.97 % 8.60 % 23.51 percent
3. CNA INS GRP 56,872 56,674 52.35 % 52.49 percent 8.19 % 31.71 percent
4. NATIONWIDE CORP GRP 45,839 38,235 73.94 % 74.08 % 6.60 % 38.31 %
5. TRUPANION GRP 43,846 41,135 68.43 percent 68.43 percent 6.32 % 44.62 percent
6. ALLIANZ INS GRP 41,868 35,314 14.27 % 14.41 % 6.03 % 50.66 %
7. AMERICAN INTL GRP 25,859 23,097 0.42 % 1.40 % 3.72 % 54.38 %
8. FAIRFAX FIN GRP 24,749 24,448 47.26 percent 47.76 percent 3.56 % 57.95 %
9. FM GLOBAL GRP 18,606 17,471 197.13 % 216.95 % 2.68 % 60.63 %
10. WR BERKLEY CORP GRP 17,371 16,003 98.54 % 99.84 % 2.50 % 63.13 %
***VIEW ALL*** 694,229 652,666 46.94 percent 48.72 percent 100.00 % 63.13 %

Top 10 Inland Marine Insurance Market – New England

Connecticut

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 52,937 53,312 49.69 percent 49.84 percent 13.07 % 13.07 %
2. CHUBB LTD GRP 44,125 44,266 35.02 % 40.59 percent 10.90 % 23.97 %
3. CNA INS GRP 42,011 41,596 52.58 % 52.60 % 10.37 % 34.34 percent
4. AMERICAN INTL GRP 28,657 23,895 23.98 % 24.81 % 7.08 % 41.42 percent
5. NATIONWIDE CORP GRP 23,322 21,658 70.48 % 70.64 % 5.76 % 47.17 percent
6. ALLIANZ INS GRP 17,348 14,880 7.47 % 5.98 % 4.28 % 51.46 percent
7. TRUPANION GRP 13,275 12,303 64.97 percent 64.98 % 3.28 % 54.73 percent
8. SWISS RE GRP 12,826 12,701 29.33 percent 24.97 % 3.17 % 57.90 %
9. MARKEL CORP GRP 12,179 13,375 26.25 % 26.78 percent 3.01 % 60.91 %
10. AMERICAN FINANCIAL GRP 11,941 11,876 52.03 % 52.62 % 2.95 % 63.86 percent
***VIEW ALL*** 404,999 387,580 40.15 % 42.85 % 100.00 % 63.86 percent

Maine

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 17,814 18,041 38.82 % 39.08 % 16.31 % 16.31 %
2. CNA INS GRP 8,430 8,434 51.32 % 51.34 % 7.72 % 24.03 %
3. CHUBB LTD GRP 7,435 6,059 34.64 percent 45.87 percent 6.81 % 30.84 %
4. TRAINING GRP 7,304 6,830 36.94 % 37.03 % 6.69 % 37.53 percent
5. WR BERKLEY CORP GRP 6,201 5,689 33.04 % 33.91 % 5.68 % 43.20%
6. ALLIANZ INS GRP 5,289 4,194 9.89 % 9.49 % 4.84 % 48.05 %
7. TRUPANION GRP 4,520 4,116 70.03 % 70.04 % 4.14 % 52.19 %
8. AMERICAN INTL GRP 4,275 3,200 2.58 % 2.35 % 3.91 % 56.10 %
9. THE HANOVER INS GRP 4,099 3,896 26.07 % 26.54 percent 3.75 % 59.85 %
10. NATIONWIDE CORP GRP 3,950 3,599 54.53 % 54.40 % 3.62 % 63.47 percent
***VIEW ALL*** 109,209 100,085 66.30% 67.18 % 100.00 % 63.47 percent

New Hampshire

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 24,800 24,692 44.12 percent 44.43 percent 20.66 percent 20.66 percent
2. CHUBB LTD GRP 7,616 7,105 35.56 percent 95.58 % 6.34 % 27.00 %
3. CNA INS GRP 6,927 6,927 52.64 % 52.65 % 5.77 % 32.77 percent
4. NATIONWIDE CORP GRP 6,431 6,047 68.95 % 68.99 % 5.36 % 38.13 percent
5. TRUPANION GRP 6,401 5,882 69.06 % 69.06 % 5.33 % 43.46 percent
6. ALLIANZ INS GRP 6,380 5,286 11.11 % 10.86 % 5.31 % 48.77 percent
7. WR BERKLEY CORP GRP 4,923 4,699 22.22% 22.68 percent 4.10 % 52.88 %
8. TRAINING GRP 4,429 4,206 33.11 % 33.52 percent 3.69 percent 56.56 percent
9. AMERICAN INTL GRP 3,771 3,238 0.76 % 0.77 % 3.14 % 59.71 %
10. MUNICH RE GRP 3,009 2,684 60.18 % 60.19 % 2.51 % 62.21 %
***VIEW ALL*** 120,055 114,249 34.71 percent 38.60% 100.00 % 62.21 %

Rhode Island

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 14,856 13,918 42.43 percent 42.59 percent 15.20 % 15.20 %
2. ALLIANZ INS GRP 10,843 10,084 2.70 % 1.34 % 11.09 % 26.29 percent
3. CNA INS GRP 8,178 8,175 53.38 % 53.37 percent 8.37 % 34.65 %
4. CHUBB LTD GRP 6,112 5,965 5.89 % 39.84 % 6.25 % 40.91 percent
5. AMERICAN INTL GRP 5,519 5,080 1.07 % 0.90% 5.65 % 46.55 percent
6. TRAVELERS GRP 5,492 5,832 500.09 % 504.85 % 5.62 % 52.17 %
7. NATIONWIDE CORP GRP 5,153 4,904 104.33 % 104.54 % 5.27 % 57.44 percent
8. TRUPANION GRP 2,993 2,696 58.59 percent 58.59 percent 3.06 % 60.50%
9. TRAINING GRP 2,960 2,613 83.08 % 83.28 % 3.03 % 63.53 percent
10. ASSURANT INC GRP 2,793 3,003 67.90% 67.90% 2.86 % 66.39 percent
***VIEW ALL*** 97,754 93,304 61.27 percent 63.78 percent 100.00 % 66.39 percent

Vermont

COMPANY NAME SUBSCRIBE (000) HELPFUL TIPS (000) CHANGE OF LOCATION LOSS & CONTAINMENT RATIO MARKET SHARE CUMULATIVE MARKET SHARE
1. LIBERTY MUT GRP 10,093 10,162 20.01 % 20.43 percent 18.42 % 18.42 %
2. CNA INS GRP 7,985 7,981 52.25 % 52.25 % 14.58 % 33.00 %
3. ALLIANZ INS GRP 3,225 2,846 15.05 % 14.89 % 5.89 % 38.88 %
4. WR BERKLEY CORP GRP 2,835 2,584 16.45 % 16.75 % 5.17 % 44.06 %
5. CHUBB LTD GRP 2,494 2,159 44.42 percent 60.68 % 4.55 % 48.61 %
6. NATIONWIDE CORP GRP 2,449 2,234 62.78 percent 62.78 percent 4.47 % 53.08 %
7. AMERICAN INTL GRP 2,241 1,952 N/A N/A 4.09 % 57.17 percent
8. TRAINING GRP 2,138 2,015 27.64 percent 27.77 percent 3.90 % 61.07 %
9. TRUPANION GRP 1,818 1,608 70.42 % 70.42 % 3.32 % 64.39 percent
10. AMERICAN NATL FIN GRP 1,739 1,694 45.06 % 45.02 % 3.17 % 67.57 %
***STAND ALL*** 54,786 52,219 31.04 % 32.16 percent 100.00 % 67.57 %

New England Market Share Reports Other Agency Checklists

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

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