Taxpayers should know more about Section 139(1) of the Income tax act since it is the section under which they have to file their returns if they have missed filing within the due date.
Insurance Sector Updates – July 2025: What You Should Know
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If you have ever zoned out the moment someone mentioned insurance, you are not alone. But here is the thing — what is happening in the insurance world right now is not just for nerds and personal finance influencers. It is about you, your money, your future cover, and those little surprise expenses life loves throwing at you.
So, let’s quickly catch you up on what’s been happening in July 2025, and why it matters to you.
Life Insurance Updates
If you have a life insurance policy, you will be happy to hear this - India’s life insurance market is growing at a solid 10.5% every year. That’s more than double the global rate. What does this mean for you? More options, smarter policies, and insurers fighting harder to win you over.
LIC, the giant most of us grew up hearing about, is having a good year too. They have just announced a Rs. 12 per share dividend after clocking strong profits for FY25. So, if you hold their shares, it’s time to check your bank account — you might have a little extra coming your way.
It is not just about LIC. Reliance General Insurance has turned in a tidy Rs. 315 crore profit under new promoters. Apart from this, Bajaj Finserv is set to buy out its joint venture partner Allianz’s stake for Rs. 24,180 crores. Moves like these mean stronger, homegrown brands are taking charge, leading to better, more competitive products for you.
Non-Life Insurance Updates
When it comes to your car, health, travel, or home insurance, things are looking up, too. The total premiums collected in this category hit a massive Rs. 3.08 trillion in the financial year 2025 — a 6.2% increase from last year. In plain speak: more people like you are protecting what matters to them, and insurers are growing because of it.
Reliance General’s profit boost makes a second appearance here, and this is a sign that changes at the top can make things smoother for you on the ground - faster claim approvals, fewer holdups, and maybe even friendlier customer care.
Companies are also stepping up their tech game. No more endless email threads or “please hold while we transfer your call” moments.
Generative AI Updates
If you have not noticed already, Generative AI is quietly becoming your behind-the-scenes assistant in the insurance world. From speeding up underwriting by scanning and analysing documents to offering personalised service through smart chatbots, AI is ensuring that your queries and claims don’t disappear into a digital black hole.
Imagine chatting with a bot about your policy or having your claim processed in record time without needing to chase multiple emails. That is not a future scenario — it’s already happening, and insurers are doubling down on these investments.
Author Bio
Paybima Team
Paybima is an Indian insurance aggregator on a mission to make insurance simple for people. Paybima is the Digital arm of the already established and trusted Mahindra Insurance Brokers Ltd., a reputed name in the insurance broking industry with 17 years of experience. Paybima promises you the easy-to-access online platform to buy insurance policies, and also extend their unrelented assistance with all your policy related queries and services.
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