GIC Re has emerge as the 10^th largest global reinsurer in the latest global ranking exercise by Standard & Poor’s Munich Re. Swiss Re and Berkshier  Hathway Re are the top three global reinsurers in the latest ranking of top 50 global reinsurers.

The Central Government is looking at allowing 100% Foreign Direct Investment (FDI) in insurance broking. A Committee comprising senior officials from finance ministry and department of industrial policy and promotion (DIPP) will review the idea, a senior government official said.

Flipkart the popular e-retailer will enter into insurance segment this Diwali, with the offering of a complete protection plan to customer who buy smartphones on its platform.

Face book Inc co-founder Mr. Mark Zuckerberg has overtaken Warren Buffett as world’s third richest person, further soliciting technology as the most robust creator of wealth. The ranking which traces the world’s 500 richest people, is undated after the close of each trading day in New York. Buffett, once the world’s wealthiest person, is sliding in the raking thanks to his charitable giving, which he kicked off in earnest in 2006. He’s donated about 290 million Berkshire Hathaway Class B shares to charities, most of it to Gate’s foundation. Those shares are now worth more than $ 50 billion, according to data compiled by Bloomberg. Zuckerberg has pledged to give away 99 percent of his Facebook stock in his lifetime.

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