LIC's shareholders, customers have no need to worry about its Adani exposure: DIPAM Secy

'LIC has a well diversified portfolio and has its investments in many companies,' an LIC official said

Representative Image. Credit: Reuters File Photo

Shareholders and customers of state-run Life Insurance Corp (LIC) should not be concerned about its exposure to the Adani group, as the insurer is a diversified long-term investor in the market, a top government official told Reuters.

"It has put out the information that their exposure in Adani Group companies should not be any concern for shareholders and policyholders,” Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said.

“LIC has a well-diversified portfolio and has its investments in many companies and the value of its investments keeps changing. LIC is a long-term investor in the market."