Singapore’s Sea Ltd prepares move into Indonesia’s insurance sector

Singapore-headquartered e-commerce and gaming giant Sea Ltd is said to be preparing a move into Indonesia’s insurance sector. The US-listed tech firm has prepared plans to acquire an insurance company in Indonesia, Financial Times reported. Such an acquisition would prepare Sea to better compete with rival super apps including Jakarta-headquartered GoTo and Singapore-based Grab, which are aiming to provide a one-stop-shop from ride-hailing, food delivery to financial services to their users across Southeast Asia.