'All allegations are baseless...' LIC refutes false reports by The Washington Post:

News Topical, Digital Desk : The Life Insurance Corporation of India (LIC) on Saturday refuted false reports by The Washington Post. In a post on the social media platform X, LIC called the allegations false.

LIC's response to The Washington Post article stated that the Washington Post's allegations that LIC's investment decisions are influenced by external factors are false and baseless.

"LIC has never prepared any document or plan as mentioned in the article, which sets out a roadmap for LIC to infuse funds into Adani Group companies," the company said in its statement.

LIC further said that investment decisions are taken independently by LIC after thorough due diligence as per the board approved policy.

The company also clarified that the Financial Services Department or any other institution has no role in such decisions.

"LIC has ensured the highest standards of due diligence and all investment decisions are taken in the best interest of all stakeholders, in compliance with extant policies, provisions of the Acts and regulatory guidelines," the company said in its statement.

LIC also stated that the alleged statements in the article harm the company's decision-making process and that these allegations are intended to tarnish the reputation and image of LIC and India's robust financial sector.

Meanwhile, the company reported a consolidated net profit of ₹10,957 crore in the April-June quarter of FY26, registering a growth of 3.91 per cent over the first quarter of FY25. LIC's net premium income also grew by 4.7 per cent to ₹1,19,618 crore.