As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the life insurance industry, 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 12 life insurance stocks we track reported a slower Q1. As a group, revenues beat analysts’ consensus estimates by 3.1%.

Thankfully, share prices of the companies have been resilient as they are up 6.3% 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 $4.87 billion, up 3.9% year on year. This print fell short of analysts’ expectations by 1%. Overall, it was a slower quarter for the company with a significant miss of analysts’ book value per share estimates and a narrow beat of analysts’ EPS estimates.

“Our first quarter results reflect continued disciplined execution and consistent, meaningful progress against our strategic priorities," said Ellen Cooper, Chairman, President and CEO of Lincoln Financial.

The market seems disappointed with the results as the stock is down 3% since reporting and currently trades at $36.50.

Read our full report on Lincoln Financial Group here, it’s free.

Best Q1: Primerica (NYSE: PRI)

With a sales force of over 140,000 licensed representatives operating on an independent contractor model, Primerica (NYSE: PRI) provides term life insurance, investment products, and other financial services to middle-income households in the United States and Canada.

Primerica reported revenues of $872.3 million, up 8.6% year on year, outperforming analysts’ expectations by 1.9%. The business had a strong quarter with a solid beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.

The market seems content with the results as the stock is up 1.7% since reporting. It currently trades at $281.57.

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

Weakest Q1: 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 $2.10 billion, down 2.7% year on year, falling short of analysts’ expectations by 4.8%. It was a softer quarter as it posted a significant miss of analysts’ book value per share estimates and a significant miss of analysts’ EPS estimates.

The stock is flat since the results and currently trades at $63.08.

Read our full analysis of Brighthouse Financial’s results here.

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 $3.61 billion, down 4.5% year on year. This print missed analysts’ expectations by 7.3%. Overall, it was a softer quarter as it also logged a narrow beat of analysts’ EPS estimates.

Equitable Holdings had the weakest performance against analyst estimates among its peers. The stock is up 4.3% since reporting and currently trades at $43.26.

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

MetLife (NYSE: MET)

Founded in 1863 by a group of New York businessmen during the Civil War era, MetLife (NYSE: MET) is a global financial services company that provides insurance, annuities, employee benefits, and asset management services to individuals and businesses worldwide.

MetLife reported revenues of $19.68 billion, up 4.5% year on year. This number surpassed analysts’ expectations by 1.4%. Aside from that, it was a mixed quarter as it also produced a solid beat of analysts’ net premiums earned estimates but a significant miss of analysts’ book value per share estimates.

The stock is up 5.8% since reporting and currently trades at $84.82.

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

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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