New Delhi, Oct 25 (NationPress) The Life Insurance Corporation of India (LIC) categorically dismissed the misleading reports published by The Washington Post, asserting that all investments are conducted with utmost integrity and thorough diligence.

In response to the allegations made by The Washington Post, LIC stated that claims suggesting external influences on its investment decisions are “false, baseless, and far from the truth.”

“No document or strategy as suggested in the article has ever been created by LIC, which outlines a plan for channeling funds into the Adani group of companies,” the organization mentioned in its statement.

The report alleged that officials expedited a proposal in May to allocate approximately $3.9 billion from LIC to an Adani group entity.

LIC clarified that its investment choices are made independently, adhering to Board-approved policies following comprehensive due diligence.

“The Department of Financial Services or any other entity has no involvement in these decisions. LIC maintains the highest standards of diligence, ensuring that all investment actions comply with existing policies, legislative provisions, and regulatory guidelines, prioritizing the interests of all stakeholders,” it continued.

LIC asserted that the statements in the article “seem to have been made to unjustly distort the well-established decision-making process of LIC and to damage the reputation and image of LIC, as well as the strong foundations of the financial sector in India.”

As the largest life insurer in the country, LIC reported a 3.91% 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 last year (Q1 FY25), according to its filing with the stock exchange.