Looking back on life insurance stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Lincoln Financial Group (NYSE: LNC) 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 beat analysts’ consensus estimates by 0.8%.

In light of this news, share prices of the companies have held steady as they are up 3.3% on average since the latest earnings results.

Lincoln Financial Group (NYSE: LNC)

Founded in 1905 by a group of Fort Wayne, Indiana businessmen who named the company after Abraham Lincoln, Lincoln National Corporation (NYSE: LNC) provides insurance, retirement plans, and wealth management products through its subsidiaries, operating under four main segments: Annuities, Life Insurance, Group Protection, and Retirement Plan Services.

Lincoln Financial Group reported revenues of $4.73 billion, up 4.4% year on year. This print exceeded analysts’ expectations by 1.1%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ net premiums earned estimates.

"Our second-quarter performance was strong and reflected the significant progress we have made in executing our strategy to reposition Lincoln for sustainable, long-term value creation," said Ellen Cooper, Chairman, President and CEO of Lincoln Financial.

Interestingly, the stock is up 18.7% since reporting and currently trades at $40.58.

Is now the time to buy Lincoln Financial Group? Access our full analysis of the earnings results here, it’s free.

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 $4.43 billion, up 6.1% year on year, outperforming analysts’ expectations by 7.6%. The business had a stunning quarter with a beat of analysts’ EPS estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 1.8% since reporting. It currently trades at $34.13.

Is now the time to buy Corebridge Financial? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Brighthouse Financial (NASDAQ: BHF)

Spun off from MetLife in 2017 to focus specifically on retail financial products, Brighthouse Financial (NASDAQ: BHF) provides annuity contracts and life insurance products designed to help individuals protect wealth, generate income, and transfer assets.

Brighthouse Financial reported revenues of $2.15 billion, down 2.9% year on year, falling short of analysts’ expectations by 1.3%. It was a disappointing quarter as it posted a significant miss of analysts’ net premiums earned estimates and a significant miss of analysts’ EPS estimates.

The stock is flat since the results and currently trades at $46.13.

Read our full analysis of Brighthouse Financial’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 number lagged analysts' expectations by 3.5%. It was a slower quarter as it also produced a significant miss of analysts’ book value per share estimates and a slight miss of analysts’ net premiums earned estimates.

The stock is up 6.6% since reporting and currently trades at $45.07.

Read our full, actionable report on Horace Mann Educators here, it’s free.

Aflac (NYSE: AFL)

Known for its iconic duck mascot that has quacked "Aflac!" in commercials since 2000, Aflac (NYSE: AFL) provides supplemental health and life insurance policies that pay cash benefits directly to policyholders for expenses not covered by their primary insurance.

Aflac reported revenues of $4.54 billion, up 3.5% year on year. This print surpassed analysts’ expectations by 3.1%. More broadly, it was a slower quarter as it recorded a significant miss of analysts’ book value per share estimates and a narrow beat of analysts’ EPS estimates.

The stock is up 8.1% since reporting and currently trades at $107.

Read our full, actionable report on Aflac here, it’s free.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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