SAIC Group's Captive Insurance Company and Nord Insurance Brokerage Form Strategic Partnership to Support High-Quality Global Expansion of Chinese Automotive Brands

SAIC Motor, one of China's leading automotive groups, recently announced that its wholly-owned self-insurance company, SAIC Motor Insurance Co., Ltd., has formed a strategic partnership with Lockton, the world's largest independent insurance brokerage. The collaboration will focus on supporting the internationalization of SAIC's automotive brands, with in-depth cooperation in areas such as risk management, insurance solutions, and cross-border operational support, aiming to facilitate high-quality and sustainable international development for China's automotive industry.

Against the backdrop of accelerating technological revolution and industrial transformation, China's automotive industry is rapidly transitioning towards electrification, intelligence, and connectivity. A number of Chinese automakers with technological innovation capabilities and scale advantages are continuously expanding their overseas presence, enhancing their influence and voice in the global new energy vehicle (NEV) and intelligent connected vehicle (ICV) sectors. In this process, effectively managing the complex risks associated with overseas operations has become a crucial challenge for automakers to achieve a stable "going global" strategy.

This strategic partnership combines SAIC's leading advantages in automotive manufacturing, technological innovation, and global layout with Lockton's professional expertise in cross-border risk consulting, insurance placement, and global market services. Both parties will jointly explore a synergistic model centered on "industry + services," strengthening risk governance capabilities while supporting technological innovation and brand internationalization, thereby providing a more robust safeguard system for Chinese automakers participating in global competition.

As Chinese automotive brands accelerate their overseas expansion, companies face increasingly diverse and systemic risks, covering geopolitics, regulatory and standard compliance, supply chains, currency fluctuations, product liability, as well as data security and technology governance challenges brought by intelligent connected vehicles. Particularly in areas like NEVs, autonomous driving, and in-vehicle chips, international market requirements for product safety, quality stability, and compliance are continuously rising. Through this collaboration, SAIC's self-insurance entity, its business clients, and Lockton will promote more forward-looking and systematic risk management approaches, supporting companies in achieving compliant operations and stable growth across different markets.

One key focus of the cooperation is to jointly improve insurance and risk management solutions covering overseas production, sales, and after-sales service, based on the practical needs of Chinese automakers' international development. It aims to align risk management with technological innovation and standard application, enhancing operational resilience and cost predictability, thereby providing strong support for the global application of NEVs and ICVs.

Mr. Ma Jian, General Manager of SAIC Motor Insurance Co., Ltd., stated: "The next phase for Chinese automakers going global is not only about product and scale competition but also a comprehensive reflection of governance capabilities, technical standards, and global synergy. Through this partnership, we hope to explore operational and risk management practices that better align with internationally accepted rules while promoting technological innovation and brand 'upward development,' helping Chinese automotive brands continuously enhance their international competitiveness and global influence."

At the practical cooperation level, leveraging SAIC's technological expertise in NEVs and intelligentization, as well as Lockton's global market insights, both parties will focus on exploring overseas insurance structure design, after-sales service risk protection, and new risk solutions related to data and technology. This aims to support Chinese automakers in establishing more consistent and sustainable operational models across different markets.

Furthermore, through collaboration with overseas professional service institutions, this strategic partnership will help promote a more lightweight and cooperative internationalization path. This enables Chinese automakers to focus more on their core strengths, such as electrification technology, intelligent driving features, product innovation, and brand building, while managing non-core but critical compliance and risk matters more efficiently.

With the widespread global application of smart connectivity features, advanced driver-assistance systems (ADAS), and OTA updates, the two parties will also cooperate on emerging risks such as cybersecurity, data protection, technology liability, and OTA update governance. This will assist Chinese automakers in prudently advancing the overseas application of intelligent technologies while complying with various countries' regulatory requirements.

Jaideep (Jay) Sharma, Head of Special Risks, Asia at Lockton, said: "Today's globalization is no longer just about scale expansion but a comprehensive response to regulatory environments, technological systems, and customer expectations. Through our collaboration with SAIC, Lockton aims to support innovation-driven automotive companies in enhancing their resilience and long-term value in international markets with more forward-looking risk management concepts."

Mr. Ma Jian, General Manager of SAIC Motor Insurance Co., Ltd., and Jaideep (Jay) Sharma, Head of Special Risks, Asia at Lockton, jointly signed the strategic cooperation agreement. The partnership focuses on the internationalization process of SAIC's automotive brands, with in-depth collaboration in risk management, insurance solutions, and cross-border operational support, aiming to facilitate high-quality and sustainable international development for China's automotive industry.

Attendees at the signing ceremony included: Ma Jian, General Manager of SAIC Insurance; Huang Xiadong, Deputy General Manager; Liang Xiaoying, General Manager of the Reinsurance Department; Hu Yunhe, Office Director; Zhang Hao, Director of Market Development Department; Xu Yousheng, Director of Corporate Key Account Department; Jay Sharma, Head of Special Risks, Asia at Lockton; Lin Xiaojun, Senior Partner, Greater China; Sun Yanli, Senior Vice President, Greater China; Yu Kai, Vice President, Special Risks, Asia; as well as colleagues from both companies.