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LIC to GIC: General Adani Crew publicity of public sector insurance coverage agencies (Executive Knowledge)

LIC to GIC: General Adani Crew publicity of public sector insurance coverage agencies (Executive Knowledge)

Adani Crew publicity of Public Sector Insurance coverage agencies: The full publicity of public sector insurance coverage agencies, together with LIC and GIC, to Adani Crew agencies, is not up to 1% in their complete asset below control (AUM), in line with reputable information.

In a written respond to a question in Lok Sabha on Monday (February 13, 2023), Union Minister of State for Finance Dr Bhagwat Karad mentioned that the full publicity of public sector Common Insurance coverage agencies to Adani Crew is Rs 347.64 crore (as of thirty first January 2023). This quantities to 0.14% of the full AUM of those agencies.

The general public sector Common Insurance coverage Firms come with New India Assurance Corporate Restricted, United India Insurance coverage Corporate Restricted, Nationwide Insurance coverage Corporate Restricted, Oriental Insurance coverage Corporate Restricted and Common Insurance coverage Company of India (GIC).

Additionally Learn: State-run normal insurers’ publicity to Adani companies small

Previous, Lifestyles Insurance coverage Company of India (LIC) had mentioned that its publicity to Adani Crew was once identical to 0.974% of its complete AUM at guide worth.

Corporate General Publicity (% of AUM)
LIC 0.975
Different Public Sector Common Insurance coverage agencies 0.14
Supply: Answer in Lok Sabha through Executive

“The Lifestyles Insurance coverage Company of India (LIC), as in step with it’s press unencumber dated 30.01.2023, has said, inter alia, that LIC’s complete conserving below fairness and debt is Rs. 35,917.31 crores as on 31.12.2022 below Adani organization of businesses. LIC has additionally knowledgeable that the full Belongings Beneath Control (AUM) through LIC are over Rs. 41.66 lakh crore as at 30.09.2022 and the prevailing LIC’s publicity within the Adani organization is 0.975% of LIC’s complete AUM at guide worth,” Dr Karad mentioned.

“As in step with information gained from Public Sector Common Insurance coverage agencies, particularly New India Assurance Corporate Restricted, United India Insurance coverage Corporate Restricted, Nationwide Insurance coverage Corporate Restricted, Oriental Insurance coverage Corporate Restricted and Common Insurance coverage Company of India, complete publicity in Adani Crew of Firms as on 31.1.2023 is Rs 347.64 crore which is 0.14% of the full AUM of all of the 5 agencies,” he added.

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LIC had mentioned the full acquire worth of fairness, bought during the last a few years, below all of the Adani organization agencies was once Rs. 30,127 crores and the marketplace worth for a similar as at shut of marketplace hours on 27.01.2023 was once Rs. 56,142 crores. It additional mentioned that the full AUM through LIC is over Rs. 41.66 lakh crore as of 30.09.2022.


Supply Via https://www.financialexpress.com/cash/insurance coverage/lic-to-gic-total-adani-group-exposure-of-public-sector-insurance-companies-govt-data/2980877/