What does annuities — policyholder account balances mean?

Represents the total value of funds held on behalf of annuity policyholders, including deposits and accumulated interest or investment returns. This balance is a primary indicator of the scale of the annuity business and the total assets under management within the segment.

Lincoln National LNC Annuities — Policyholder Account Balances

Other segment segments

Retirement Plan Services

$23.62B-0.7%

Other Operations

$7.4B+64.2%

Similar metrics at other companies

PRUAnnuities — Policyholders’ account balances

$3.86B-9.0%

CBAnnuities — Policyholder Account Balance, excluding Unearned Revenue Liability

$2.9B+9.5%

KKRFixed Rate Annuities — Policyholder Account Balance

$68.42B+3.1%

METAnnuities and Risk Solutions — Policyholder Account Balance

$27.49B+11.7%

CINFDeferred Fixed Annuity — Policyholder Account Balance

$546M-6.2%

AFLFixed Annuity — Policyholder Account Balance

$5.01B-8.9%

Other financials

Income statement

See full

Revenue$5.3B+13.1%

Net income-$172.0M+76.2%

EPS (diluted)-$1.10+75.1%

Balance sheet

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Cash & equivalents$7.3B+71.5%

Total debt$6.4B+8.5%

Total equity$10.2B+24.6%

Total assets$406.16B+6.1%

Cash flow

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Operating cash flow$138.0M+151%

Valuation

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Market cap$7.11B+10.3%

Enterprise value$6.13B-25.1%

P/E4.1×-0.7×

P/S0.4×0.0×

Profitability

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Net margin9.2%+2.2pp

Returns & leverage

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Return on equity18.8%+1.8pp

Debt / equity0.6×-0.1×

Where this comes from

Reported directly by Lincoln National in its filing.

Tagged under the XBRL concept us-gaap:SupplementaryInsuranceInformationOtherPolicyClaimsAndBenefitsPayable.

The official record: Lincoln National’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lincoln National's annuities — policyholder account balances?: Lincoln National (LNC) reported annuities — policyholder account balances of $68.79B in Q4 2025.
How has Lincoln National's annuities — policyholder account balances changed year-over-year?: Lincoln National's annuities — policyholder account balances increased by 12.3% year-over-year, from $61.23B to $68.79B.
What does annuities — policyholder account balances mean?: Represents the total value of funds held on behalf of annuity policyholders, including deposits and accumulated interest or investment returns. This balance is a primary indicator of the scale of the annuity business and the total assets under management within the segment.