Rs 15,167 cr unclaimed money lying with life insurance companies
New Delhi, July 29 : A staggering amount of Rs 15,167 crore amount belonging to policyholders is lying unclaimed with 23 life insurance companies, according to latest regulatory data.
On the basis of this information, the Insurance Regulatory and Development Authority of India (IRDAI) has asked the companies to disburse old insurance claims after identifying the concerned policyholders or beneficiaries.
As per the data released, of the total unclaimed amount of Rs 15,166.47 crore as on March 31, 2018, state-run Life Insurance Corporation towers over other companies in the unclaimed list with Rs 10,509 crore, while the 22 private sector insurers account for the remaining Rs 4,657.45 crore.
Among private companies, ICICI Prudential Life Insurance has Rs 807.4 crore of unclaimed insurance claims, followed by Reliance Nippon Life Insurance (Rs 696.12 crore), SBI Life Insurance (Rs 678.59 crore) and HDFC Standard Life Insurance (Rs 659.3 crore).
Insurance companies are required to update information regarding unclaimed amounts on their websites on six-monthly basis.
IRDAI has earlier asked the life insurance companies to provide a search facility on their website to enable policyholders or beneficiaries ascertain any unclaimed amounts due to them that are still lying with the firms.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Compromised PM didn't sign trade deal with US, but a bargain for Adani's release: Rahul
New Delhi (PTI): Congress leader Rahul Gandhi on Friday accused Prime Minister Narendra Modi of signing a trade deal with the US only to secure the "release" of billionaire businessman Gautam Adani.
"Compromised PM did not strike a trade deal, but a bargain for Adani's release," Gandhi said in a post in Hindi on X, after reports that the US has agreed to settle the lawsuit that accused Adani of hiding alleged bribery.
The US government has agreed to settle the lawsuit filed against Adani, who is accused of duping investors by concealing that his company's huge solar energy project in India was being facilitated by an alleged bribery scheme, according to court filings published Thursday.
Reacting to the reports, Congress general secretary in-charge communications Jairam Ramesh said it was now clear why the PM agreed to the "hopelessly one-sided Indo-US trade deal that was really a steal by the US".
"And it is also clear why he abruptly halted Operation Sindoor on May 10, 2025, acting on President Trump's threats rather than on our national interest. Reportedly, the Trump Administration is about to drop all charges of corruption against Modani," he said on X.
"How much more compromised can the PM get?" Ramesh asked.
In the lawsuit filed in late 2024, the Securities and Exchange Commission accused Adani Group Chairman Gautam Adani and his nephew Sagar Adani, who is a director at the group's renewable energy unit Adani Green Energy Ltd, of agreeing to pay about USD 265 million in bribes to Indian government officials between approximately 2020 and 2024 to obtain lucrative solar energy supply contracts on terms that expected to yield USD 2 billion of profit over 20 years.
It was alleged in the lawsuit that Adani Group raised USD 2 billion in loans and bonds, including from US firms, on the backs of false and misleading statements related to the firm's anti-bribery practices and policies.
The ports-to-energy conglomerate had denied the allegations.
