Lincoln National Corporation

Lincoln Financial Closes $6.3 Billion Reinsurance Transaction with Talcott

Lincoln Financial closed its $6.3 billion reinsurance transaction with Talcott Financial Group, effective October 1, 2026. A Talcott subsidiary reinsured approximately $5.8 billion of in-force guaranteed universal life statutory reserves, about 37% of Lincoln's remaining GUL block. Combined with the 2023 Fortitude Re deal, roughly 60% of Lincoln's total GUL block is now reinsured, reducing exposure to the legacy, capital-intensive block while Lincoln continues to administer the policies.

•24d ago

LNC: SC TO-I · share repurchase

Lincoln National Corporation has commenced two concurrent issuer tender offers to purchase for cash up to $500,000,000 in aggregate liquidation preference of its depositary shares representing interests in its 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C and its 9.000% Non-Cumulative Preferred Stock, Series D. The offers expire at 5:00 p.m. New York City time on September 8, 2026, with settlement expected on September 10, 2026. Lincoln will pay $1,055.00 per Series C depositary share (total consideration $1,057.31 including accrued dividends) and $26.30 per Series D depositary share (total consideration $26.36), premiums of roughly 5.5% and 5.2% over liquidation preference. The Series D depositary shares, which trade on the NYSE under the symbol LNC PRD, last closed at $26.35 on August 7, 2026. The company stated the principal purpose of the offers is to efficiently manage its capital structure and reduce its future dividend payment obligations. Acceptance prioritizes Series C over Series D: if all 500,000 Series C depositary shares are tendered, no Series D shares will be accepted, and Series D will otherwise be subject to proration if the $500 million cap is exceeded. Each series has $500 million of aggregate liquidation preference outstanding, or $1 billion combined, so a fully subscribed offer would retire up to half of the outstanding preferred and cancel dividends on Lincoln's highest-coupon equity. Holders whose shares are purchased forfeit future preferred dividends, and the remaining Series D float could see reduced liquidity and higher volatility.

SEC SC TO-I•2mo ago

Lincoln National Corporation’s Board of Directors Declares Quarterly Cash Dividend & Announces Plans to Resume Share Repurchases in the Third Quarter of 2026

Lincoln Financial declared a quarterly cash dividend of $0.45 per share, payable on November 2, 2026, to shareholders of record on October 12, 2026. The company announced it intends to resume repurchasing shares in the third quarter of 2026, utilizing its existing authorization which has approximately $714 million remaining. As of June 30, 2026, the company reported end-of-period account balances of $366 billion across its annuities, life insurance, group protection, and retirement plan services.

•2mo ago

LNC: 10-Q · periodic report

Lincoln National Corporation reported a significant financial turnaround for the six months ended June 30, 2026, with net income reaching $1.16 billion compared to a net loss of $23 million in the prior year period. Total revenues increased 13% year-over-year to $9.85 billion, supported by growth in net investment income and fee income, while total assets rose to approximately $429.8 billion. The company strengthened its capital structure by issuing $500 million in 6.800% Subordinated Notes due 2056 and refinancing its variable-rate term loan, maintaining compliance with all financial covenants.

SEC 10-Q•2mo ago

Lincoln Financial Announces Reinsurance Transaction with Talcott

Lincoln Financial entered into an agreement with Talcott Financial Group to cede approximately $5.8 billion of in-force Guaranteed Universal Life reserves and $500 million of funding agreement business. The transaction covers about 37% of Lincoln's remaining GUL block and is expected to deliver an all-in statutory capital impact of approximately $200 million while increasing annual subsidiary remittances by $30–$40 million. This move reduces exposure to long-term mortality and interest rate risk, strengthens free cash flow, and advances the strategy to shift the liability mix toward sustainable returns.

•2mo ago

LNC: 8-K · earnings release

Lincoln Financial reported second quarter 2026 net income available to common stockholders of $1.3 billion, or $6.72 per diluted share, a significant increase from the prior year. Adjusted operating income available to common stockholders was $439 million, or $2.24 per diluted share, reflecting growth across Life Insurance and Retirement Plan Services segments. The Life Insurance segment reported operating income of $57 million, up 78% from the prior year, while Retirement Plan Services operating income increased 32% to $49 million. Annuities delivered operating income of $287 million, in line with the prior-year quarter, with record-high ending account balances of $182 billion. Holding company available liquidity increased to $903 million, net of prefunding amounts, supported by the completion of a $500 million subordinated debt issuance. The company cited strength across all businesses and improved profitability as key drivers of the quarter's performance.

SEC 8-K•2mo ago

Centro and Lincoln Expand API Integration to Streamline RFP and Quoting Process

Lincoln Financial expanded its API integration with Centro Benefits Research to automate the RFP and quoting process, building on a 2025 policy API launch. The integration connects the Centro Broker Portal directly to Lincoln systems to reduce manual entry and accelerate turnaround times for brokers. Lincoln reported approximately 17 million customers and $324 billion in account balances as of late 2024.

•5mo ago