As the Q2 earnings season wraps, let’s dig into this quarter’s best and worst performers in the life insurance industry, including Aflac (NYSE: AFL) 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 mixed Q2. As a group, revenues missed analysts’ consensus estimates by 8.2%.

While some life insurance stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.8% since the latest earnings results.

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 $4.22 billion, down 6.9% year on year. This print was in line with analysts’ expectations, and overall, it was a satisfactory quarter for the company with an impressive beat of analysts’ book value per share estimates but EPS in line with analysts’ estimates.

Commenting on the company's results, Aflac Incorporated Chairman and Chief Executive Officer Daniel P. Amos stated: "Aflac delivered solid earnings for the quarter and for the first six months. These results reflect execution of our strategy, driving long-term value for shareholders. In Japan, we have secured new opportunities through successful product initiatives including Anshin Palette (medical insurance), Miraito (cancer insurance) and Tsumitasu (life insurance). In the U.S., our focus is on meeting the evolving needs of employers and their employees with supplemental health products and related benefits."

Even though it had a relatively good quarter, the market seems discontent with the results. The stock is down 9.2% since reporting and currently trades at $114.96.

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

Best Q2: 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 $443.5 million, up 7.7% year on year, in line with analysts’ expectations. The business had a very strong quarter with a beat of analysts’ EPS estimates.

Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 9.4% since reporting. It currently trades at $47.21.

Is now the time to buy Horace Mann Educators? 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 $2.10 billion, down 2.4% year on year, falling short of analysts’ expectations by 2%. It was a softer quarter as it posted a significant miss of analysts’ book value per share and EPS estimates.

As expected, the stock is down 15.6% since the results and currently trades at $52.23.

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

Unum Group (NYSE: UNM)

Tracing its roots back to 1848 when financial security for workers was virtually non-existent, Unum Group (NYSE: UNM) provides workplace financial protection benefits including disability, life, accident, critical illness, dental and vision insurance primarily through employers.

Unum Group reported revenues of $2.96 billion, down 12.3% year on year. This number lagged analysts’ expectations by 2%. Overall, it was a slower quarter as it also recorded a significant miss of analysts’ book value per share estimates and EPS in line with analysts’ estimates.

Unum Group had the slowest revenue growth in the group. The stock is up 6.2% since reporting and currently trades at $93.37.

Read our full, actionable report on Unum 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 $14.16 billion, up 4.8% year on year. This print missed analysts’ expectations by 0.9%. Zooming out, it was a mixed quarter as it also logged a solid beat of analysts’ net premiums earned estimates but a significant miss of analysts’ book value per share estimates.

The stock is down 5.2% since reporting and currently trades at $117.18.

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

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.