THE Insurance Commission (IC) announced the acquisition of two licensed Philippine non-life insurance companies by SeaInsure PG Private Ltd., a Singaporean insurance company operating under tech conglomerate Sea Ltd., which currently serves as a holding company for Shopee.

The two non-life insurance companies, the IC said in a statement on Thursday, are AA Guaranty Assurance Co. Inc. (AAGA) and Reliance Surety and Insurance Co. Inc. (RSI).

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