Life Insurance Industry Q1 2026: AM Best Reports Growth Despite Income Decline, Globe Life Hits 52-Week High, Retirement Confidence Dips
June 23, 2026 — The U.S. life insurance industry is sending mixed signals in mid-2026. AM Best reports bottom-line growth despite an 18% drop in total income during the first quarter. Globe Life Inc. shares hit a 52-week high. And worker retirement confidence has fallen to its lowest level in nearly a decade, raising urgent questions about financial preparedness and the role of life insurance in retirement planning.
AM Best: U.S. Life/Annuity Industry Sees Bottom-Line Growth Despite 18% Income Decline
The U.S. life and annuity industry saw its total income decrease 18% in the first three months of 2026 compared to the prior-year period, according to preliminary financial results detailed in a new AM Best special report titled “First Look.” The decline was driven primarily by a $36 billion drop in premiums and annuity considerations.
According to the Best’s Special Report, the drop in premiums and annuity considerations was predominantly due to a $24.2 billion reduction at Voya Retirement Insurance & Annuity Co. Other income also declined by 67%, driven by a $20.6 billion reduction of reserve adjustments on reinsurance ceded and assumed.
Despite the headline income decline, AM Best noted that the industry still achieved bottom-line growth, suggesting that operating fundamentals remain relatively healthy. The report highlights that while top-line revenue may be shrinking due to specific carrier actions like Voya’s reinsurance strategy, the underlying profitability of the industry is holding steady.
This disconnect between total income and bottom-line growth is an important signal for consumers. It indicates that insurers are actively managing their risk exposures and restructuring their product portfolios, which can ultimately lead to more sustainable product offerings for policyholders.
Globe Life Inc. Hits 52-Week High Amid Industry Reshuffling
On June 11, 2026, shares of Globe Life Inc. (NYSE: GL) traded at a new 52-week high of $164.79, currently trading at $164.64. The stock has moved 2.1% over the past week, with a 52-week range between $116.73 and $164.79.
Globe Life Inc. delivers diverse life insurance and supplementary health coverage, alongside annuity products, targeting households in the lower-middle to middle-income brackets throughout the United States. The company’s operations are structured into four key segments:
- Life Insurance — whole life, term life, and other life protection plans
- Supplemental Health Insurance — including Medicare supplements
- Annuities — retirement income products
- Investments — supporting the insurance operations
The 52-week high is notable because it signals investor confidence in Globe Life’s focus on the lower-middle to middle-income market segment, which is precisely the demographic being hit hardest by declining retirement confidence. As we’ll see in the next section, workers in this income bracket are struggling with savings, debt, and healthcare costs — making Globe Life’s affordable life insurance products increasingly relevant.
Retirement Confidence Falls to Lowest Level Since 2017
The Employee Benefit Research Institute (EBRI) released its 2026 Retirement Confidence Survey — now in its 36th year — and the results paint a concerning picture. Worker confidence in retirement readiness has reached its lowest level since 2017.
Only 61% of workers surveyed said they believe they will have enough money for a comfortable retirement. That is down from a record high of 72% in 2021 and only slightly above the 60% who felt that way in 2017. The percentage of workers who are saving for retirement is also down, with 59% of workers saying they are currently saving — a 5% drop from 64% in 2025.
Key Factors Driving the Confidence Decline
- Inflation and economic uncertainty — top reasons workers lack confidence
- Little to no savings — the primary reason cited by unconfident workers
- Debt burden — 58% of workers say debt interferes with their ability to save
- Healthcare costs — a major factor interfering with retirement saving
- Housing costs — rising costs eating into discretionary income
Craig Copeland, EBRI’s director of wealth benefits research, noted that savings are at the heart of retirement confidence. Among workers who feel confident, having enough money to cover their bills and having money in retirement funds and investments were the top reasons given. On the other side, workers who don’t feel confident cited having little to no savings as the top reason.
The Disconnect: Workers Think They’re Saving When They’re Not
One of the most striking findings from the EBRI survey is a disconnect between workers who believe they are saving in their employer’s retirement plan and those who are actively participating in it. Researchers found that 6 in 10 workers surveyed said they are saving in their employers’ retirement plan, although they are not.
Daniella Moiseyev, head of retirement income solutions content strategy with Principal Financial Group, identified four levers to address this gap:
- Make workers’ contribution status visible — many workers can’t tell whether they are contributing
- Use re-enrollment as a way to encourage contributions
- Use trigger moments, such as onboarding and benefits enrollment season, to encourage participation
- Provide guidance to workers — employees indicated they want help
Why This Matters to Life Insurance Consumers
The intersection of these three stories — industry restructuring, carrier stock performance, and declining retirement confidence — has direct implications for anyone considering life insurance in 2026.
First, the AM Best report shows that insurers are actively managing their portfolios, which can lead to product changes. Consumers should review their policies regularly to ensure their coverage still meets their needs, especially if their carrier has undergone restructuring.
Second, Globe Life’s stock performance highlights the growing importance of the middle-income life insurance market. If you’re in the lower-middle to middle-income bracket, there are affordable options designed specifically for you.
Third, the retirement confidence survey reveals that only 2 in 10 workers feel confident they will have enough money to last their entire life. More than one-third of workers would find guaranteed lifetime income options the most valuable improvement to their workplace retirement savings plan, and more than 4 in 5 workers would be interested in purchasing a guaranteed income product with retirement savings. This is where life insurance products with living benefits and annuities can play a critical role.
Industry Financial Performance at a Glance
| Metric | Q1 2026 | Change |
|---|---|---|
| Total industry income | Down 18% | vs. Q1 2025 |
| Premiums & annuity considerations | -$36 billion | Year-over-year |
| Voya Retirement reduction | -$24.2 billion | Largest single driver |
| Other income | Down 67% | Reserve adjustments |
| Bottom-line growth | Positive | Despite income decline |
Globe Life Inc. Stock Performance Snapshot
| Metric | Value (June 11, 2026) |
|---|---|
| 52-week high | $164.79 |
| 52-week low | $116.73 |
| Current price | $164.64 |
| Weekly change | +2.1% |
| Avg. 30-day volume | 569,680 shares |
| Market focus | Lower-middle to middle-income households |
Retirement Confidence Trends (2017–2026)
| Year | Worker Confidence | Savings Rate |
|---|---|---|
| 2017 | 60% | N/A |
| 2021 (record high) | 72% | N/A |
| 2025 | N/A | 64% |
| 2026 | 61% | 59% |
Guaranteed Income Interest Surges
The EBRI survey also revealed strong consumer interest in guaranteed lifetime income products. More than 4 in 5 workers said they would be interested in purchasing a guaranteed income product with retirement savings. This aligns with the broader industry trend of insurers retooling their annuity and life insurance products to meet growing demand for retirement income certainty.
For consumers, this means the market is likely to see more innovative product offerings combining life insurance protection with retirement income features. If you’re considering a policy, now may be an opportune time to explore options that include living benefits, annuity riders, or guaranteed income components.
Related Resources
- AM Best Insurance Ratings — Check your carrier’s financial strength rating
- NAIC Consumer Resources — Regulatory information and policyholder rights
- Social Security Administration — Retirement and survivor benefits information
Explore More Life Insurance Resources
- Term Life Insurance Rates by Age — Compare rates and find affordable coverage
- Life Insurance Buying Checklist — Step-by-step guide to choosing the right policy
- Burial Insurance: What You Need to Know in 2026 — Final expense coverage options
- No Medical Exam Life Insurance — Coverage options without health screenings
- The Annuity Boom and Its Hidden Risks — Understanding annuity products in 2026
Frequently Asked Questions
What does the AM Best Q1 2026 report mean for policyholders?
The 18% decline in total industry income was driven primarily by Voya’s reinsurance strategy, not by widespread carrier instability. Bottom-line growth remained positive, meaning insurers are still profitable. For policyholders, this means your coverage is secure, but you may see product changes as carriers restructure their portfolios.
Why is Globe Life stock performing well?
Globe Life focuses on the lower-middle to middle-income market segment, which represents a large underserved demographic in the U.S. The company’s 52-week high reflects investor confidence in this strategy. Globe Life offers whole life, term life, supplemental health, and annuity products designed for budget-conscious households.
What is driving the decline in retirement confidence?
The EBRI survey identifies multiple factors: inflation and economic uncertainty, little to no savings, debt burden (58% of workers say debt interferes with saving), healthcare costs, and rising housing costs. Only 59% of workers are currently saving for retirement, down from 64% in 2025.
How can life insurance help with retirement planning?
Life insurance products with living benefits, cash value accumulation, and annuity components can provide guaranteed lifetime income — something more than 4 in 5 workers say they want. Permanent life insurance builds cash value that can supplement retirement income, while annuities can guarantee steady payments for life.
Should I be worried if my insurer’s income declined?
Not necessarily. The income decline was concentrated in specific carriers like Voya due to reinsurance transactions. Check your carrier’s AM Best financial strength rating to assess their stability. Most U.S. life insurers maintain strong capital positions despite the headline income numbers.
What is the disconnect in retirement savings participation?
The EBRI survey found that 6 in 10 workers believe they are saving in their employer’s retirement plan when they are not. Many assumed they were auto-enrolled or confused prior balances with active contributions. This highlights the importance of verifying your contribution status with your employer’s HR department.
Get the Right Coverage for Your Family
If declining retirement confidence has you thinking about your family’s financial security, now is the time to explore life insurance options. Whether you need term life for income replacement, whole life for permanent protection, or an annuity for guaranteed retirement income, comparing quotes from multiple carriers is the best way to find affordable coverage that fits your budget.
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