Looking back on life insurance stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Corebridge Financial (NYSE: CRBG) and its peers.
Life insurance companies collect premiums from policyholders in exchange for providing a future death benefit or retirement income stream. Interest rates matter for the sector (and make it cyclical), with higher rates allowing insurers to reinvest their fixed-income portfolios at more attractive yields and vice versa. Additionally, favorable demographic shifts, such as an aging population, are driving strong demand for retirement products while AI and data analytics offer significant opportunities to improve underwriting accuracy and operational efficiency. Conversely, the industry faces headwinds from persistent competition from agile insurtechs that threaten traditional distribution models.
The 15 life insurance stocks we track reported a slower Q2. As a group, revenues were in line with analysts’ consensus estimates.
Thankfully, share prices of the companies have been resilient as they are up 7.4% on average since the latest earnings results.
Best Q2: Corebridge Financial (NYSE: CRBG)
Spun off from insurance giant AIG in 2022 to focus on the growing retirement market, Corebridge Financial (NYSE: CRBG) provides retirement solutions, annuities, life insurance, and institutional risk management products in the United States.
Corebridge Financial reported revenues of $4.42 billion, up 5.8% year on year. This print exceeded analysts’ expectations by 7.3%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS estimates.
Kevin Hogan, President and Chief Executive Officer, said, “Corebridge delivered another quarter with very strong financial results and remains focused on driving shareholder value, as demonstrated by our variable annuity reinsurance transaction that further positions our company for the future.
Unsurprisingly, the stock is down 4.7% since reporting and currently trades at $33.12.
Is now the time to buy Corebridge Financial? Access our full analysis of the earnings results here, it’s free.
F&G Annuities & Life (NYSE: FG)
Founded in 1959 and serving approximately 677,000 policyholders who rely on its financial protection products, F&G Annuities & Life (NYSE: FG) provides fixed annuities, life insurance, and pension risk transfer solutions to retail and institutional clients.
F&G Annuities & Life reported revenues of $1.35 billion, up 12.6% year on year, outperforming analysts’ expectations by 13.8%. The business had a very strong quarter with a beat of analysts’ EPS and net premiums earned estimates.
F&G Annuities & Life scored the biggest analyst estimates beat and fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 3.8% since reporting. It currently trades at $31.90.
Is now the time to buy F&G Annuities & Life? Access our full analysis of the earnings results here, it’s free.
Weakest Q2: Equitable Holdings (NYSE: EQH)
Tracing its roots back to 1859 as one of America's oldest financial institutions, Equitable Holdings (NYSE: EQH) provides retirement planning, asset management, and life insurance products through its two main franchises, Equitable and AllianceBernstein.
Equitable Holdings reported revenues of $3.80 billion, up 5.1% year on year, falling short of analysts’ expectations by 4.5%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
Interestingly, the stock is up 2.9% since the results and currently trades at $52.39.
Read our full analysis of Equitable Holdings’s results here.
Horace Mann Educators (NYSE: HMN)
Founded in 1945 and named after the 19th-century education reformer known as the "father of American public education," Horace Mann Educators (NYSE: HMN) is an insurance company that specializes in providing auto, property, life, and retirement products tailored for educators and other public service employees.
Horace Mann Educators reported revenues of $411.7 million, up 6.1% year on year. This result lagged analysts' expectations by 3.5%. Overall, it was a slower quarter as it also recorded a significant miss of analysts’ book value per share estimates and a slight miss of analysts’ net premiums earned estimates.
The stock is up 8.3% since reporting and currently trades at $45.80.
Read our full, actionable report on Horace Mann Educators here, it’s free.
Globe Life (NYSE: GL)
With roots dating back to 1900 and a rebranding from Torchmark Corporation in 2019, Globe Life (NYSE: GL) is an insurance holding company that offers life insurance, supplemental health insurance, and annuity products through various distribution channels.
Globe Life reported revenues of $1.5 billion, up 3.2% year on year. This print met analysts’ expectations. Aside from that, it was a softer quarter as it logged a significant miss of analysts’ book value per share estimates and a narrow beat of analysts’ EPS estimates.
The stock is up 15.5% since reporting and currently trades at $144.56.
Read our full, actionable report on Globe Life here, it’s free.
Market Update
Thanks to the Fed’s series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% in November), and a notable surge followed Donald Trump’s presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by potential trade policy changes and corporate tax discussions, which could impact business confidence and growth. The path forward holds both optimism and caution as new policies take shape.
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