Let’s dig into the relative performance of Equitable Holdings (NYSE: EQH) and its peers as we unravel the now-completed Q1 life insurance earnings season.

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 11 life insurance stocks we track reported a slower Q1. As a group, revenues missed analysts’ consensus estimates by 1.1%.

Thankfully, share prices of the companies have been resilient as they are up 7.1% on average since the latest earnings results.

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 fell short of analysts’ expectations by 7.3%. Overall, it was a softer quarter for the company with a significant miss of analysts’ revenue estimates and a narrow beat of analysts’ EPS estimates.

“We reported solid first quarter results with Non-GAAP operating earnings per share of $1.62, or $1.68 excluding notable items, up 25% from the prior year quarter. Within our businesses, we continued to see healthy organic growth momentum, highlighted by $1.3 billion of net inflows in Retirement and $2.0 billion of advisory net inflows in Wealth Management. Looking forward, we remain confident in achieving our 2026 guidance of $1.8 billion of cash generation and over 15% growth in earnings per share,” said Mark Pearson, President and Chief Executive Officer.

Equitable Holdings delivered the weakest performance against analyst estimates of the whole group. Interestingly, the stock is up 6.1% since reporting and currently trades at $44.04.

Read our full report on Equitable Holdings 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 an impressive beat of analysts’ book value per share and revenue estimates.

The market seems content with the results as the stock is up 1.9% since reporting. It currently trades at $281.99.

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’ revenue and book value per share estimates.

The stock is flat since the results and currently trades at $63.01.

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

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 number came in 1% below analysts’ expectations. Overall, it was a slower quarter as it also produced a significant miss of analysts’ book value per share estimates.

The stock is flat since reporting and currently trades at $37.25.

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

Prudential (NYSE: PRU)

Recognized by its iconic Rock of Gibraltar logo symbolizing strength and stability since 1896, Prudential Financial (NYSE: PRU) provides life insurance, annuities, retirement solutions, investment management, and other financial services to individual and institutional customers globally.

Prudential reported revenues of $15.23 billion, up 13.6% year on year. This result surpassed analysts’ expectations by 8.1%. It was a strong quarter as it also recorded an impressive beat of analysts’ net premiums earned and revenue estimates.

Prudential achieved the biggest analyst estimate beat and fastest revenue growth among its peers. The stock is up 8% since reporting and currently trades at $108.28.

Read our full, actionable report on Prudential 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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