Viriyah mulls higher EV premiumsLeading motor insurer Viriyah Insurance may raise premiums for electric vehicle (EV) policies this year as the segment continues to operate at a loss, reflecting the evolving risk profile of the fast-growing EV market. According to Amorn Thongthew, managing director of Viriyah, the EV insurance business registers a combined ratio loss slightly above 10%, meaning total claims and operating expenses exceed the premiums collected. As a result, the company is considering adjusting EV insurance premiums this year to better reflect actual risk levels. Despite the underwriting losses, the EV insurance market continues to grow alongside Thailand's expanding EV adoption. Viriyah holds around a 40% market share in EV motor insurance, with total EV premiums reaching roughly 2.8 billion baht in 2025.

Source: Bangkok Post March 15, 2026 22:38 UTC