The Brief · Issue 1
Week of 5 October 2026 — J.D. Power's 2026 ranking and a new Delaware Life annuity lawsuit
Nationwide tops J.D. Power's 2026 life study as trust slips, buyers sue Delaware Life, Aegon votes to become Transamerica, Japan halts Prudential sales.
Compiled on 24 October 2026 for The Brief's launch archive, from sources published between 5 and 11 October 2026.
Four stories that mattered
J.D. Power: Nationwide tops the 2026 life insurance study as trust slips
J.D. Power released its 2026 U.S. Individual Life Insurance Study on 8 October 2026. Based on 6,145 customers surveyed from July 2025 to July 2026, it ranked 23 brands. Nationwide came first with 701 points on a 1,000-point scale, ahead of State Farm (692) and Mutual of Omaha (680), while the industry average slipped 1 point to 649. Trust fell furthest of the dimensions measured, down 9 points overall and 39 points among Gen Z customers. Satisfaction with policies bought direct fell 12 points to 684, while satisfaction with agent- or advisor-sold policies rose 6 points to 645.
For a shopper, the ranking measures how existing customers feel about service, price and communication. It does not measure claims-paying strength or price for your health class. Treat it as one input next to financial strength ratings and quotes, not as a verdict on which policy to buy.
Source: J.D. Power, 2026 U.S. Individual Life Insurance Study, 8 October 2026
A second class action targets Delaware Life and Clear Spring annuities
On 7 October 2026 annuity buyer Robert Kalinsky filed a proposed class action in the U.S. District Court for the Southern District of Florida against Delaware Life Insurance Co., Clear Spring Life and Annuity Co., Guggenheim Partners, Mark Walter and affiliates. The suit says the insurers told buyers only a small share of assets was affiliated, then restated the figure. Per the complaint, Delaware Life had $18.25 billion of $43.88 billion (about 42%) in affiliated investments at the end of 2025, and Clear Spring had $5.90 billion of $9.92 billion (about 59%). It follows a similar suit filed in September. Parent Group 1001 said it will defend the case and that "no court has ruled" it did anything wrong.
Nothing in the suit stops annuity payments, and the insurers say the accounting corrections did not change their reported capital. Contract owners who are thinking about surrendering should first check their surrender charge and market value adjustment. Kalinsky's complaint itemizes $15,325.25 in surrender charges on one contract he surrendered.
Aegon shareholders approve the move that turns it into Transamerica Inc.
At an extraordinary general meeting on 8 October 2026, Aegon shareholders approved moving the company's legal seat from Bermuda to Delaware and its head office from the Netherlands to New York, along with an omnibus incentive plan. The New York Stock Exchange is expected to become the primary listing under the ticker "TA." The company plans to report under U.S. GAAP from its full-year 2027 results and to finish the transition by January 2028. Chief executive Lard Friese is due to relocate to the U.S. at the start of 2027.
For Transamerica policyholders this is a holding-company change. Insurance Business reports that "the insurance companies and policies themselves are not affected," so policy terms, premiums and claims handling stay the same.
Japan orders Prudential's main Japanese life insurer to stop selling until 2027
On 9 October 2026, Japan's Financial Services Agency ordered The Prudential Life Insurance Company (Prudential of Japan) to stop soliciting new business from 13 October 2026 to 31 January 2027. It also partly suspended Gibraltar Life's employed Life Consultant channel and issued a business improvement order to Prudential Holdings of Japan. The orders follow findings that 107 current and former employees defrauded about 500 customers of roughly ¥3.1 billion (about $20 million) between 1991 and 2025. All three companies must submit improvement plans by the end of November.
The orders apply only to the Japanese units, and Insurance Business reports no U.S. regulatory action. Prudential Financial said both insurers remain financially sound. U.S. Prudential policies are issued by separate companies. The case is a reminder that misconduct by individual sellers can go undetected for years, so keep your own records of every payment and document.
Ratings and deals
- Prismic Life, a Bermuda reinsurer sponsored by Prudential Financial and Warburg Pincus, agreed on 5 October 2026 to reinsure about $5 billion of reserves backing U.S.-dollar Japanese whole life policies written by Prudential's Japanese affiliates. Prudential's obligations to those policyholders stay the same, and Prudential keeps administering the contracts. Source: Prismic Life via Business Wire, Prismic Life Announces $5 Billion Reinsurance Agreement with Prudential Financial, 5 October 2026
- AM Best's review of the first half of 2026 found that most upgrades went to life insurers, annuity-focused companies took most downgrades, and affirmations made up 82.3% of rating actions. Source: Reinsurance News, AM Best reports higher number of rating upgrades among US life and health insurers, 5 October 2026
- Meanwhile, a Bermuda-licensed life insurer whose policies are denominated in bitcoin, raised $37.5 million in a round led by Bain Capital Crypto, bringing its total funding above $180 million. Source: Decrypt, This Sam Altman-Backed Life Insurer Runs Entirely on Bitcoin, and Just Raised $37.5 Million, 10 October 2026
One guide to read
This week's J.D. Power results show trust falling while overall satisfaction held steady. The Delaware Life lawsuit is about whether buyers were told the truth about what backs their guarantees. Our guide to the What J.D. Power's life insurance study measures explains what the study measures and what it leaves out, and how to use it alongside financial strength ratings and complaint data when you choose an insurer.
One number
$2.9 billion — new annualized premium from U.S. workplace life insurance sales in the first half of 2026, up 7% from a year earlier, LIMRA reported on 5 October 2026. Individual life policies sold at work grew faster, up 12%.
Workplace coverage is how many families get life insurance, but it usually ends or must be converted when you leave the job. Rising sales mean more people have coverage tied to their employer.