The Life Insurance Corporation of India (LIC) on Saturday said it takes its investment decisions independently as per Board approved policies after detailed due diligence. It dubbed as false, baseless, and far from truth the allegations leveled by the Washington Post that its investment decisions are influenced by external factors.
“No such document or plan as alleged in the article has ever been prepared by LIC, which creates a roadmap for infusing funds by the Corporation into Adani group of companies,” India’s largest insurer, in a statement.
These purported statements in the article appear to have been made with the intention to prejudice the well settled decision-making process of LIC and also to tarnish its reputation and image and the strong financial sector foundations in India, it added.
LIC emphasised that the Department of Financial Services or any other body does not have any role in such decisions.
The Corporation said it has ensured highest standards of due diligence and all its investment decisions have been undertaken in compliance with extant policies, provisions in the Acts and regulatory guidelines, in the best interest of all its stakeholders.
LIC’s assets under management rose 6.47 per cent year-on-year from ₹53,58,781 crore as on June 30, 2024, to ₹57,05,341.44 crore as on June 30, 2025.