American firms, not LIC, lead investment in Adani Group:Athene Insurance, DZ Bank, 3 others invest $250 million in Gautam Adani’s firms

While Life Insurance Corporation of India’s (LIC) investment in Adani Group firms continues to make headlines, recent data reveals a contrasting picture, several major global insurers and lenders have invested more heavily in billionaire Gautam Adani’s companies than LIC itself. In June 2025, a month after LIC invested ₹5,000 crore in Adani Ports SEZ, American firm Athene Insurance invested ₹6,650 crore in Adani’s Mumbai International Airport. Meanwhile, global banks such as DBS Bank, DZ Bank, Rabobank, and Bank Sinopac collectively invested 25 crore dollars in Adani Energy. According to an SP report (August 2025), the group secured $10 billion in new loan facilities for its four major subsidiaries in the first half of the year. Adani Group, LIC dismiss Washington Post allegations A Washington Post report alleged government interference in LIC’s investment decisions, claiming LIC had invested $3.9 billion (₹33,000 crore) in the Adani Group. The Adani Group dismissed the claims as ‘false and baseless’, stating it prematurely repaid a $450 million loan in June instead of refinancing it.CFO Jugeshinder Singh said, “The Washington Post writing on finance is like Jeff Bezos and I writing on hair”. LIC also clarified that its investments were made after independent due diligence and board approval, adding that its overall investment value grew from ₹1.56 lakh crore in 2014 to ₹15.6 lakh crore in 2025.Former LIC Chairman Siddhartha Mohanty reiterated that the government does not interfere in LIC’s investment decisions. LIC’s Holdings: Adani 4%, Reliance 6.9%, ITC 15.8% LIC holds about 4% shares in Adani Group, valued at nearly ₹60,000 crore, which is less than 2% of Adani’s total debt of ₹2.6 lakh crore.Its other major holdings include: Congress, TMC demand probe The Congress has demanded a Parliamentary Public Accounts Committee (PAC) investigation, citing US media reports that LIC’s May 2025 investment allegedly benefited the Adani Group.Party leaders accused the government of ‘misusing citizens hard-earned money”. Meanwhile, TMC MP Mahua Moitra shared the Washington Post report on social media, alleging that the government-backed investments were made when Adani faced heavy debt and bribery allegations in the US Adani’s global standing Gautam Adani, Asia’s second-richest person, has a net worth of ₹6.22 lakh crore (Forbes 2025) and ranks 27th globally. The Adani Group’s operations span coal trading, mining, logistics, energy, cement, and infrastructure, making it one of India’s most diversified conglomerates.