LIC Firmly Denies Washington Post Allegations: Investment Decisions Made with Integrity and Due Diligence

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New Delhi:

The Life Insurance Corporation of India (LIC) on Saturday issued a strong denial against reports published by The Washington Post, emphasizing that all its investments are conducted with complete integrity and thorough due diligence.

In a comprehensive rebuttal to the article, LIC firmly stated that allegations claiming its investment decisions are influenced by external factors are "false, baseless, and far from truth".

"No such document or plan as alleged in the article has ever been prepared by LIC, which creates a road map for infusing funds by LIC into Adani group of companies," the insurance giant clarified in an official statement.

LIC denies false reports by The Washington Post, reaffirming all investments are made with integrity and due diligence.#LIC #HarPalAapkeSaath #washingtonpost

The Washington Post article had alleged that officials fast-tracked a proposal in May this year to direct approximately $3.9 billion in investments from LIC to an Adani group company.

LIC categorically stated that its investment decisions are made independently according to Board approved policies after comprehensive due diligence processes.

"Department of Financial Services or any other body does not have any role in such decisions. LIC 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," the statement further emphasized.

The insurance corporation asserted that the purported statements in the article "appear to have been made with the intentions to prejudice the well settled decision-making process of LIC and also to tarnish the reputation and image of LIC and the strong financial sector foundations in India".

LIC, India's largest life insurer, recently reported a 3.91 per cent year-on-year increase in its consolidated net profit for the June quarter of the current financial year (Q1 FY26).

The profit increased to Rs 10,957 crore from Rs 10,544 crore recorded in the same period previous year (Q1 FY25), according to its stock exchange filing.

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