 "From DHFL to Gammon India, here're LIC's exposure to default-rated debts")
State-owned insurance behemoth Life Insurance Corporation (LIC) has an exposure of more than Rs 13,500 crore to debt instruments of various entities that have been downgraded to default ‘D’ grade by credit rating agencies.
This exposure of LIC is across various platforms such as life funds, pension funds, and unit-linked funds. One of its largest exposures in the debt portfolio that has been downgraded to default is of mortgage lender Dewan Housing Finance Limited. LIC has an exposure of Rs 6,120 crore in DHFL with Rs 2,740 crore in its pension fund and Rs 3,380 crore in life fund.
Similarly,
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