Net income for the U.S. life/annuity (L/A) insurance industry remained relatively flat in the first half of 2026 compared with the same prior-year period, according to a new AM Best report.

This financial review is detailed in a new Best’s Special Report, titled, “First Look: Six-Month 2026 US Life/Annuity Financial Results,” and the data is derived from companies’ six-month 2026 interim statutory statements that were received as of Sept. 2, representing an estimated 97% of total industry premiums and annuity considerations.

The L/A industry’s total income decreased 8.1% in first-half 2026 from the same prior-year period as premiums and annuity considerations fell $39.4 billion, predominantly due to a $24.1 billion reduction at Voya Retirement Insurance & Annuity Co., and other income declined $31.1 billion, driven by a $21.5 billion reduction of reserve adjustments on reinsurance ceded at American United Life Insurance Co. Although total expenses for the L/A industry decreased by 8%, they were not enough to offset the income decline, resulting in pretax net operating gain declining by 10.3% to $23.3 billion. A 2.9% reduction in taxes and an 83.1% decline in realized capital losses resulted in a net income of $19.1 billion, which was 1.3% lower than the same period in 2025.

To access the full copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=368697.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2026 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Media gallery

About The Author
Business Wire