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Life Insurance Corporation of India (LIC) connected Saturday (October 25, 2025) said its investments successful Adani radical companies person been made independently and successful accordance with its board-approved policies, pursuing elaborate owed diligence.
"Department of Financial Services [in the Union Finance Ministry] oregon immoderate different assemblage does not person immoderate relation successful specified [investment] decisions," LIC said successful a connection posted connected X.
India's largest insurer has, implicit the years, made concern decisions crossed companies based connected fundamentals and elaborate owed diligence. Its concern worth successful India's apical 500 companies has grown 10-fold since 2014 — from ₹1.56 lakh crore to ₹15.6 lakh crore — reflecting beardown money management.
LIC denies mendacious reports by The Washington Post, reaffirming each investments are made with integrity and owed diligence.#LIC#HarPalAapkeSaath#washingtonpostpic.twitter.com/RQ0N2AvBA1
— LIC India Forever (@LICIndiaForever) October 25, 2025"The concern decisions are taken by LIC independently arsenic per Board-approved policies aft elaborate owed diligence," LIC said.
"LIC has ensured the highest standards of owed diligence and each its concern decisions person been undertaken successful compliance with extant policies, provisions successful the Acts and regulatory guidelines, successful the champion involvement of each its stakeholders."
The connection was successful effect to a study successful The Washington Post alleging officials orchestrated a program to steer LIC into investing successful the Adani group earlier this year, erstwhile the ports-to-energy conglomerate was facing a indebtedness heap and scrutiny successful the U.S..
The study highlighted LIC's May 2025 concern of USD 570 cardinal successful Adani Ports & SEZ (APSEZ), which holds the highest 'AAA' recognition standing successful India.
LIC said that the Department of Financial Services oregon immoderate different assemblage does not person immoderate relation successful its concern decisions, and the study carries statements "with the intentions to prejudice the well-settled decision-making process of LIC and besides to tarnish the estimation and representation of LIC and the beardown fiscal assemblage foundations successful India."
The insurer is not a small, single-purpose money but India's largest organization capitalist with implicit ₹41 lakh crore (over $500 billion) successful assets. It invests crossed 351 publically listed stocks (as of aboriginal 2025) spanning virtually each large concern radical and sector.
LIC besides holds important authorities bonds and firm debt. Its portfolio is highly diversified, spreading risk.
LIC's vulnerability to the Adani radical is little than 2% of the conglomerate's full debt, helmed by India's second-richest man, Gautam Adani.
Global investors similar U.S.’s largest funds, BlackRock, Apollo, Japan's largest banks, Mizuho, MUFG, and Germany's 2nd largest slope DZ Bank person besides invested successful Adani indebtedness successful caller months, reflecting planetary assurance successful the group.
Sources said Adani's full indebtedness of ₹2.6 lakh crore is backed ₹90,000 crore successful yearly operating nett and ₹60,000 crore successful cash. This means Adani could sound disconnected its full indebtedness successful nether 3 years if it paused caller infrastructure investments.
On the equity side, Adani is not LIC's largest holding — Reliance Industries Ltd., ITC, and the Tata Group are.
LIC owns 4% (₹60,000 crore) of Adani stocks versus 6.94% (₹1.33 lakh crore) successful Reliance, 15.86% (₹82,800 crore) successful ITC Ltd, 4.89% (₹64,725 crore) successful HDFC Bank, and 9.59% (₹79,361 crore) successful SBI. LIC holds 5.02% of TCS worthy ₹5.7 lakh crore.
