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Best’s Special Report: U.S. Life/Annuity Industry Sees Bottom-Line Growth Despite 18% Decline in Total Income in First-Quarter 2026

OLDWICK, N.J.--(BUSINESS WIRE)--The U.S. life/annuity industry saw its total income decrease 18% in the first three months of 2026 from the prior-year period as premiums and annuity considerations fell by $36 billion, according to preliminary financial results. This financial review is detailed in a new AM Best report, “First Look: Three-Month 2026 US Life/Annuity Financial Results,” and the data is derived from companies’ three-month interim statutory statements that were received as of June 9, representing an estimated 94% of total industry 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 at American United Life Insurance Company. Total expenses for the industry decreased 19%; the resulting pretax net operating gain of $15.9 billion was nearly 10% over the prior-year period. A 33.6% reduction in taxes was offset by a slight increase in realized capital losses, resulting in net income of $12.8 billion, up 16% from 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=365695.

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.

Contacts

Matthew Coppola
Director, Data Management
+1 908 882 1707
matthew.coppola@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

AM Best


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Contacts

Matthew Coppola
Director, Data Management
+1 908 882 1707
matthew.coppola@ambest.com

Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
christopher.sharkey@ambest.com

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
al.slavin@ambest.com

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