Howden is supporting a cross-border extended warranty program for Chinese electric vehicles (EVs) in Thailand, linking Chinese and Thai insurers amid rising demand for specialised EV cover in Asia and globally.
Under the “Chinese Automobile Insurance Expansion Program,” Dhipaya Insurance Public Company Limited in Thailand and Ping An P&C Insurance Company of China, Ltd. have signed a memorandum of understanding to co-develop extended warranty products for Chinese-brand EVs sold in the Thai market. Under the MOU, Dhipaya will act as the local insurer issuing the extended warranty policies, while Ping An will provide reinsurance capacity. Howden Re is arranging the reinsurance placement. The partners expect the first products to be launched in early 2026.
Read next: Global hybrid and EV insurance set to surge
The offerings are intended to take effect after manufacturers’ original warranties expire, adding protection on specified EV components. For insurers and reinsurers, the structure combines Ping An’s exposure and experience in new energy vehicle risks with Dhipaya’s position as a Thai-licensed carrier with established distribution and regulatory familiarity.
Jittiwut Sasibutra, chief executive officer of Howden Maxi Insurance Broker Co., Ltd., said the program is intended to address gaps in current warranty and underwriting arrangements as EV uptake increases in Thailand. “Thailand’s EV market is expanding rapidly, but underwriting and warranty coverage remain challenging areas. By connecting Ping An’s proven expertise with the local insight of Dhipaya, Howden Maxi has helped create a sustainable and scalable insurance solution. This collaboration highlights Howden’s ability to bridge international markets and deliver innovation that benefits clients and consumers alike,” Sasibutra said.
The initiative is being developed as China’s new energy vehicle manufacturers expand exports into Southeast Asia and other regions. For many brands, a central operational issue is how to maintain consistent warranty and service standards in markets where repair networks, parts availability, and regulatory regimes are still evolving.
Extended warranty insurance backed by reinsurance can serve as a risk-transfer mechanism for original equipment manufacturers and local distributors, mitigating volatility in repair costs and uncertainty around long-term performance of critical components. It may also influence customer retention by providing buyers with greater certainty on post-warranty protection for high-value parts, such as traction batteries and electric drivetrains. Beyond EV warranties, the parties have indicated that the agreement could lead to broader collaboration between Chinese and Thai carriers. Potential areas include product development for Chinese entrepreneurs operating in Thailand and coverage for Chinese tourists, in both personal and commercial lines.
The transaction was arranged by Howden Maxi, Howden’s Thai broking operation, working alongside Howden Re, the group’s global reinsurance arm and appointed reinsurance broker for the deal. Cynthia Cui, head of Asia-Pacific facultative at Howden Re, said the arrangement is an example of the firm’s cross-border model. “This partnership demonstrates the strength of Howden’s global model: connecting clients, markets, and expertise across regions. By combining Howden Re’s reinsurance capability with Howden Maxi’s local insight, we have enabled an innovative solution for the Asia market that supports both our partners’ strategic goals and the broader EV ecosystem,” Cui said.
Dr. Somporn Suebthawilkul, chief executive officer of Dhipaya Group Holdings Public Company Limited and managing director of Dhipaya Insurance Public Company Limited, said the collaboration aims “to enhance customer experience and provide comprehensive risk management solutions to support the growth of the EV industry in the clean-energy era.”
The China–Thailand arrangement is taking shape as analysts forecast sustained growth in dedicated insurance products for hybrid and electric vehicles. Research from HTF Market Intelligence projects that the global hybrid and EV insurance segment will grow at a compound annual growth rate of 16.88% through 2030, driven by rising EV penetration in both mature and emerging markets.
Specialised EV policies typically address risk factors that differ from conventional motor insurance, including the cost and availability of battery replacements, the complexity of repairs for high-voltage systems, the reliability of charging infrastructure, and the influence of government incentives and regulation on vehicle usage.
According to the research, the transition toward lower-emission transport is prompting insurers to develop more targeted offerings. At the same time, the sector faces constraints such as high repair bills for batteries and electric drivetrains and pressure on claims ratios where EV repair networks are still developing.
