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LIC exposure to adani group is under 1% of AUM

  • January 31, 2023
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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LIC exposure to adani group is under 1% of AUM

Subject : Economy

Section: Financial market

Concept :

  • India’s largest insurer LIC on Monday (30 January) said that its exposure in the Adani Group is just 0.975 per cent of its total assets under management (AUM) at book value.
  • The statement by LIC comes amid reports about LIC’s exposure to Adani Group, which is mired in controversy after US-based short seller Hindenburg Research released a report.

Assets under management (AUM)

  • It measures the total market value of all the financial assets which a financial institution manages on behalf of its clients and themselves.
  • AUM is an indicator of the size and success of a given fund house.

About LIC

  • LIC stands for Life Insurance Corporation of India, it is a governmental organization established in the year 1956.
  • LIC is actually an insurance and investment organization that was invented from the Life Insurance Act of India (Statutory Body).
  • The aim of LIC is to provide the citizens of India with a larger return on their economic security.
  • The services and products offered by the LIC are comparatively good than the other investment companies in the market. Through LIC all the citizens can get a quality life with assured economic development.
  • LIC is fully owned by the government.
  • LIC has equity investments worth over ₹10 trillion, while its total assets under management are valued at around ₹41 trillion (Approx) as on 2022.

economy LIC exposure to adani group is under 1% of AUM

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