Life insurance sector sees 22% growth in July
India's life insurance industry just had a big month—new business premiums shot up by 22.4% in July 2025, reaching ₹38,958.05 crore.
Both private and public insurers played a part, showing that more people are interested in securing their future despite economic ups and downs.
Individual and group policies both show strong gains
The surge came from all sides: individual policies (both single and regular payments) saw solid gains, while group single premiums jumped almost 30%.
This points to rising demand for life insurance across different types of buyers.
Over 3.47 lakh new agents added this year
It's not just about money—the sector added over 3.47 lakh new agents this year, making it easier for people to access insurance.
Year-to-date collections also climbed 9%, hitting ₹1.32 lakh crore.
LIC still leads, but private insurers are closing the gap
Private insurers grew fast with a 22% jump in new business premiums in July 2025 compared to July 2024 (₹16,340 crore), but LIC still leads the pack with ₹22,618 crore collected in July alone.
The takeaway? Life insurance is on more people's radar than ever before.