Sea Ltd Strengthens Its Grip in Indonesian Financial Sector

By Editorial Team 16/09/2022
Assets
Summary

Sea Ltd has finally completed the acquisition of PT Asuransi Mega Pratama. Financial Services Authority's (OJK) head of non-bank financial institution supervision Ahmad Nasrullah revealed that Asuransi Mega Pratama would be renamed PT Asuransi Umum Seainsure. "This is after the acquisition of Mega Pratama," Ahmad told Bisnis Indonesia on Wednesday.

He elaborated that OJK issued the license for the name change in August 2022. The amount of stake purchased by Sea Ltd was unclear, but Nasrullah was sure that Sea Ltd became the majority shareholder of Asuransi Umum Seainsure. With Sea's support, the company will develop digital-based services. "Not by becoming an insurtech, but by digitization to support the business," he said.

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