Winners And Losers Of Q3: Horace Mann Educators (NYSE:HMN) Vs The Rest Of The Life Insurance Stocks

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Aflac and the best and worst performers in the life insurance industry.

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 Q3. As a group, revenues beat analysts’ consensus estimates by 4.9%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q3: Aflac

Known for its iconic duck mascot that has quacked "Aflac!" in commercials since 2000, Aflac 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 $4.41 billion, up 2.8% year on year. This print fell short of analysts’ expectations by 0.9%, but it was still a very strong quarter for the company with an impressive beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.

Commenting on the company's results, Aflac Incorporated Chairman and Chief Executive Officer Daniel P. Amos stated: "Aflac delivered very solid earnings for the quarter and the first nine months. These results reflect our focused efforts to execute on our strategy of creating long-term value for shareholders.

The market was likely pricing in the results, and the stock is flat since reporting. It currently trades at $109.84.

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

F&G Annuities & Life

Founded in 1959 and serving approximately 677,000 policyholders who rely on its financial protection products, F&G Annuities & Life provides fixed annuities, life insurance, and pension risk transfer solutions to retail and institutional clients.

F&G Annuities & Life reported revenues of $1.69 billion, up 17.3% year on year, outperforming analysts’ expectations by 20.8%. The business had a very strong quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ net premiums earned estimates.

The market seems happy with the results as the stock is up 5.8% since reporting. It currently trades at $31.61.

Is now the time to buy F&G Annuities & Life? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Brighthouse Financial

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

Brighthouse Financial reported revenues of $2.17 billion, flat year on year, falling short of analysts’ expectations by 4%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and net premiums earned estimates.

The stock is flat since the results and currently trades at $65.26.

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

Prudential

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

Prudential reported revenues of $16.24 billion, down 16.7% year on year. This result topped analysts’ expectations by 14.4%. Overall, it was a strong quarter as it also recorded an impressive beat of analysts’ net premiums earned estimates and a solid beat of analysts’ revenue estimates.

Prudential had the slowest revenue growth among its peers. The stock is up 5.7% since reporting and currently trades at $106.99.

Read our full, actionable report on Prudential here, it’s free for active Edge members.

Corebridge Financial

Spun off from insurance giant AIG in 2022 to focus on the growing retirement market, Corebridge Financial provides retirement solutions, annuities, life insurance, and institutional risk management products in the United States.

Corebridge Financial reported revenues of $5.63 billion, up 34% year on year. This print surpassed analysts’ expectations by 49.7%. Taking a step back, it was a slower quarter as it logged a significant miss of analysts’ EPS estimates.

Corebridge Financial achieved the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is down 7.9% since reporting and currently trades at $28.51.

Read our full, actionable report on Corebridge Financial here, it’s free for active Edge members.

Looking back on life insurance stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Principal Financial Group 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 Q3. As a group, revenues beat analysts’ consensus estimates by 4.9%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Principal Financial Group

Founded in 1879 by a Civil War veteran seeking to provide financial security for families, Principal Financial Group (NASDAQGS:PFG) provides retirement solutions, asset management, and employee benefits to businesses, individuals, and institutional clients globally.

Principal Financial Group reported revenues of $3.90 billion, up 6.2% year on year. This print fell short of analysts’ expectations by 4.7%. Overall, it was a disappointing quarter for the company with a significant miss of analysts’ revenue and net premiums earned estimates.

Interestingly, the stock is up 6% since reporting and currently trades at $84.31.

Read our full report on Principal Financial Group here, it’s free for active Edge members.

Best Q3: Aflac

Known for its iconic duck mascot that has quacked "Aflac!" in commercials since 2000, Aflac 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 $4.41 billion, up 2.8% year on year, falling short of analysts’ expectations by 0.9%. However, the business still had a very 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 $110.64.

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

Weakest Q3: Brighthouse Financial

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

Brighthouse Financial reported revenues of $2.17 billion, flat year on year, falling short of analysts’ expectations by 4%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and net premiums earned estimates.

The stock is flat since the results and currently trades at $65.58.

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

Primerica

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

Primerica reported revenues of $838.9 million, up 8.4% year on year. This print surpassed analysts’ expectations by 1.7%. Zooming out, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but a miss of analysts’ book value per share estimates.

The stock is up 3.1% since reporting and currently trades at $263.11.

Read our full, actionable report on Primerica here, it’s free for active Edge members.

F&G Annuities & Life

Founded in 1959 and serving approximately 677,000 policyholders who rely on its financial protection products, F&G Annuities & Life provides fixed annuities, life insurance, and pension risk transfer solutions to retail and institutional clients.

F&G Annuities & Life reported revenues of $1.69 billion, up 17.3% year on year. This result beat analysts’ expectations by 20.8%. Overall, it was a very strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ net premiums earned estimates.

The stock is up 6.7% since reporting and currently trades at $31.88.

Read our full, actionable report on F&G Annuities & Life here, it’s free for active Edge members.

As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at insurance stocks, starting with Kemper .

The insurance industry absorbs and diversifies risk, providing financial protection against unforeseen life, health, property, and liability events. Profits come from underwriting—collecting more in premiums than paid in claims—and investing the 'float'. This cyclical industry benefits from 'hard markets' with strong pricing power and higher interest rates that enhance investment income. AI adoption is improving underwriting through sophisticated data analysis and reducing costs via automation. However, 'soft markets' and low rates create headwinds, while the industry faces elevated claims costs from climate catastrophes, inflation, and rising litigation expenses.

The 57 insurance stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 3.8%.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Kemper

Originally known as Unitrin until rebranding in 2011, Kemper is an insurance holding company that provides automobile, homeowners, life, and other insurance products to individuals and businesses across the United States.

Kemper reported revenues of $1.24 billion, up 4.8% year on year. This print exceeded analysts’ expectations by 1.5%. Despite the top-line beat, it was still a softer quarter for the company with a significant miss of analysts’ EPS and book value per share estimates.

“Our results for the quarter were disappointing and below our expectations,” said C. Thomas Evans, Jr., Interim CEO.

Unsurprisingly, the stock is down 13.9% since reporting and currently trades at $36.70.

Read our full report on Kemper here, it’s free for active Edge members.

Best Q3: Hamilton Insurance Group

Founded in 2013 and operating through three distinct underwriting platforms across four countries, Hamilton Insurance Group operates global specialty insurance and reinsurance platforms across Lloyd's, Ireland, Bermuda, and the United States.

Hamilton Insurance Group reported revenues of $667.7 million, up 30.2% year on year, outperforming analysts’ expectations by 10.3%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates.

The market seems happy with the results as the stock is up 10.3% since reporting. It currently trades at $26.01.

Is now the time to buy Hamilton Insurance Group? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: Brighthouse Financial

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

Brighthouse Financial reported revenues of $2.17 billion, flat year on year, falling short of analysts’ expectations by 4%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and net premiums earned estimates.

The stock is flat since the results and currently trades at $65.54.

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

Stewart Information Services

Founded in 1893 during America's westward expansion when property records were often disputed, Stewart Information Services provides title insurance and real estate services, helping homebuyers, sellers, and lenders verify property ownership and protect against title defects.

Stewart Information Services reported revenues of $796.9 million, up 19.3% year on year. This result beat analysts’ expectations by 31%. Overall, it was a stunning quarter as it also logged an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is down 5.1% since reporting and currently trades at $71.25.

Read our full, actionable report on Stewart Information Services here, it’s free for active Edge members.

Assured Guaranty

Serving as a financial safety net for over $11 trillion in debt service payments since its founding in 2003, Assured Guaranty provides credit protection products that guarantee scheduled payments on municipal bonds, infrastructure projects, and structured finance obligations.

Assured Guaranty reported revenues of $207 million, down 23% year on year. This print surpassed analysts’ expectations by 12.2%. It was an incredible quarter as it also put up a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

The stock is up 8.1% since reporting and currently trades at $88.09.

Read our full, actionable report on Assured Guaranty here, it’s free for active Edge members.

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the life insurance stocks, including Corebridge Financial 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 Q3. As a group, revenues beat analysts’ consensus estimates by 4.9%.

While some life insurance stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.6% since the latest earnings results.

Corebridge Financial

Spun off from insurance giant AIG in 2022 to focus on the growing retirement market, Corebridge Financial provides retirement solutions, annuities, life insurance, and institutional risk management products in the United States.

Corebridge Financial reported revenues of $5.63 billion, up 34% year on year. This print exceeded analysts’ expectations by 49.7%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ EPS estimates.

Corebridge Financial pulled off the biggest analyst estimates beat and fastest revenue growth of the whole group. Still, the market seems discontent with the results. The stock is down 0.9% since reporting and currently trades at $27.76.

Read our full report on Corebridge Financial here, it’s free for active Edge members.

Best Q3: Aflac

Known for its iconic duck mascot that has quacked "Aflac!" in commercials since 2000, Aflac 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 $4.41 billion, up 2.8% year on year, falling short of analysts’ expectations by 0.9%. However, the business still had a very strong quarter with a solid beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.

However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $109.80.

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

Weakest Q3: Brighthouse Financial

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

Brighthouse Financial reported revenues of $2.17 billion, flat year on year, falling short of analysts’ expectations by 4%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue estimates and a significant miss of analysts’ net premiums earned estimates.

The stock is flat since the results and currently trades at $65.54.

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

Horace Mann Educators

Founded in 1945 and named after the 19th-century education reformer known as the "father of American public education," Horace Mann Educators 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 $438.5 million, up 6.4% year on year. This number beat analysts’ expectations by 0.9%. Aside from that, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates but a significant miss of analysts’ book value per share estimates.

The stock is up 1.5% since reporting and currently trades at $45.94.

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

CNO Financial Group

Rebranded from Conseco in 2010 to signal a fresh start after navigating financial challenges, CNO Financial Group develops and markets health insurance, annuities, and life insurance products primarily targeting middle-income pre-retirees and retirees.

CNO Financial Group reported revenues of $964.9 million, up 2.5% year on year. This result was in line with analysts’ expectations. Zooming out, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but a significant miss of analysts’ book value per share estimates.

The stock is flat since reporting and currently trades at $39.29.

Read our full, actionable report on CNO Financial Group here, it’s free for active Edge members.