Lincoln National Reports Q3 2026 Net Income of $1.3 Billion Driven by Market Risk Benefits
Lincoln National (LNC) reported strong third-quarter 2026 results, highlighted by a net income of $1.3 billion, or $6.77 per diluted share. This performance was primarily fueled by favorable changes in market risk benefits and the fair value of embedded derivatives. Despite an unfavorable impact from the annual assumption review, adjusted operating income reached $339 million. The company saw significant growth in its annuity segment, with total sales rising 21% sequentially to $4.3 billion. Fixed annuity sales more than doubled compared to the previous quarter as the spread-based platform scaled. Additionally, alternative investment yields performed exceptionally well at a 16.5% annualized return, exceeding the company's 10% target by $55 million in after-tax income. While life insurance operating income improved due to favorable mortality and investment returns, Group Protection margins saw a slight decline. Management also signaled upcoming headwinds in Retirement Plan Services, projecting a $3 billion outflow in Q4 following a large plan termination.
Tickers: $LNC
Topics: Annuity Sales Life Insurance Net Income Operating Income