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LIC Denies Washington Post Report as 'False, Baseless, Far From Truth'

LIC has issued a strong rebuttal to Washington Post's reporting, calling the allegations completely false and baseless. The insurance giant clarified that no document exists outlining any planned investments into Adani group companies. All investment decisions are made independently following thorough due diligence and regulatory guidelines. LIC maintains these reports appear designed to damage its reputation and India's financial sector foundations.

Key Points: LIC Rebuts Washington Post Claims on Adani Investments

  • LIC denies Washington Post claims of $3.9 billion Adani investment plan
  • Investment decisions made independently per Board-approved policies
  • Department of Financial Services has no role in LIC decisions
  • Company reports 3.91% YoY profit growth in Q1 FY26
2 min read

LIC rebuts Washington Post report as 'false, baseless, far from truth'

LIC strongly denies Washington Post allegations, reaffirming all investment decisions follow due diligence and regulatory compliance without external influence.

"No such document or plan as alleged in the article has ever been prepared by LIC - LIC Official Statement"

New Delhi, Oct 25

The Life Insurance Corporation of India (LIC) on Saturday denied false reports by The Washington Post, reaffirming all investments are made with integrity and due diligence.

In a rebuttal to the article, LIC said the allegations leveled by The Washington Post that the investment decisions of LIC 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 company​ said in a statement.

The article had claimed that officials allegedly fast-tracked a proposal in May this year to direct approximately $3.9 billion in investments from the LIC to an Adani group firm.

LIC said that the investment decisions are taken independently as per Board approved policies after detailed due diligence.

“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,” it further stated in the statement.

LIC said that these 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, the country’s largest life insurer, reported a 3.91 per cent year-on-year (YoY) increase in its consolidated net profit for the June quarter of the current financial year (Q1 FY26).

The profit rose 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.

- IANS

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Reader Comments

P
Priya S
As an LIC policyholder, I'm concerned about these reports. While I want to trust LIC's statement, I hope there's more transparency in their investment processes. Public money is involved after all.
V
Vikram M
Washington Post should provide evidence or apologize. You can't just make serious allegations against India's largest financial institution without proof. This is yellow journalism at its worst.
S
Sarah B
The timing is suspicious - right when LIC is showing good quarterly results. Seems like foreign media wants to create panic among Indian investors. Stay strong LIC! 💪
A
Ananya R
My family has been with LIC for three generations. Never had any issues. These foreign media outlets don't understand how Indian institutions work. LIC follows proper procedures always.
M
Michael C
While I support LIC's right to defend itself, I think there should be an independent audit to clear all doubts. Transparency builds trust, especially when it involves public funds.
K
Kavya N
LIC's strong rebuttal is reassuring! They've clarified that investments follow board-approved policies and due diligence. Foreign media should stop spreading baseless rumors about Indian companies.

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