US–Iran Conflict: LIC Suffers ₹70,000 Crore Loss

Amid rising geopolitical tensions involving the United States, Israel and Iran, the Life Insurance Corporation of India (LIC) has suffered significant losses. The value of LIC’s investments, which stood at ₹14.88 lakh crore as of February 27, declined by about 4.7% to ₹14.17 lakh crore by March 9. This indicates a drop of nearly ₹70,105 crore within a short span, according to data released by Ace Equity.

The losses were largely driven by a sharp fall in the stocks of major banking companies such as State Bank of India (SBI), HDFC Bank and ICICI Bank, which resulted in an estimated ₹15,293 crore loss (21.8%) for LIC. In addition, the corporation also incurred losses of around ₹7,609 crore due to its investments in Larsen & Toubro (L&T), further impacting its overall portfolio value.