Top News

New Delhi, October 25 (Read) — The Life Insurance Corporation of India (LIC) on Saturday strongly rejected allegations made in a recent Washington Post report, calling them “false and baseless.” The state-run insurer issued a clarification on social media platform X, dismissing claims that its investment decisions were influenced by external factors.

Responding to the article, LIC stated that The Washington Post had alleged that the corporation’s investment decisions were swayed by outside influences. “All such allegations are completely false and without any foundation,” the company said.

The insurer clarified that it had never prepared or approved any document or plan outlining a roadmap for investing in Adani Group companies. LIC emphasized that all investment decisions are made independently, strictly in accordance with its board-approved policy and only after thorough due diligence.

“There is no role of the Financial Services Department or any other external body in such decisions,” the statement added.

LIC further said it upholds the highest standards of due diligence and that every investment decision is taken in the best interest of stakeholders, while fully complying with existing policies, legal provisions, and regulatory guidelines.

“The alleged statements in the article attempt to undermine LIC’s decision-making process and damage the reputation of both LIC and India’s robust financial sector,” the insurer noted.

Meanwhile, LIC reported a consolidated net profit of ₹10,957 crore for the April–June quarter of FY26, marking a 3.91% increase over the same period last year. Its net premium income also rose 4.7% to ₹1,19,618 crore.

LIC continues to maintain its leadership in the life insurance industry, holding over 63% market share in first-year premium income.