New Delhi: The Life Insurance Corporation of India (LIC) on Saturday rejected reports by The Washington Post, reaffirming that all its investments are made with integrity and due diligence.

In a statement, LIC described claims that its investment decisions are influenced by external factors as “false, baseless and far from the truth.” The company added that no document or plan, as alleged in the article, has ever been prepared to create a roadmap for LIC funds to flow into Adani group companies.

The Washington Post article had claimed that officials allegedly fast-tracked a proposal in May to channel around $3.9 billion from LIC into an Adani group firm. LIC said all investment decisions are made independently, following Board-approved policies and detailed due diligence.

“Department of Financial Services or any other body does not have any role in such decisions. LIC has ensured the 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 said.

LIC added that the article “appears to have been published with the intention of prejudicing LIC’s well-settled decision-making process and tarnishing its reputation and the strong foundations of India’s financial sector.”

The country’s largest life insurer reported a 3.91% year-on-year rise in consolidated net profit for the June quarter (Q1 FY26), with profit increasing to Rs 10,957 crore from Rs 10,544 crore in the same period last year, according to its stock exchange filing.

IANS