5 PSU insurers have Rs. 347-cr exposure to Adani firms

Five state-run general insurance companies have a total exposure of Rs 347.64 crore, or 0.14 per cent of their total assets under management (AUM), in Adani group of companies, the Finance Ministry said.

In a written reply to a question by Congress’ Manish Tewari, Minister of State for Finance Bhagwat Karad said Life Insurance Corp (LIC) held Rs 35,917.31 crore in debt and equity of Adani group of companies as on December 31, 2022. This is 0.97 per cent of its total assets under management (AUM) of Rs 41.66 trillion.

Karad also said that as per information received from state-owned general insurers, their exposure to Adani group of firms was even less.