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Lincoln National LNC Group Protection — Deferred Policy Acquisition Cost

Other segment segments

UL and Other
$6.08B+2.5%
Traditional Life
$1.27B-3.7%
Other Operations
$6M

Similar metrics at other companies

Corebridge Financial logo
CRBGGroup Retirement — Deferred Policy Acquisition Cost
$1.04B-0.7%
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PRURetirement — Deferred Policy Acquisition Cost
$2.48B+17.7%
Voya Financial logo
VOYAOther — Deferred Policy Acquisition Cost
$20M+11.1%
Prudential Financial logo
PRUTotal — Deferred Policy Acquisition Cost
$22.25B+3.4%
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PRUAnnuities — Deferred Policy Acquisition Cost
$2.19B-10.0%
Corebridge Financial logo
CRBGCorporate & Other — Deferred Policy Acquisition Cost
$0-100%

Other financials

Income statement

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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$8.98B+20.1%
Enterprise value$8B+31.2%
P/E5.2×-1.4×
P/S0.5×+0.1×

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:DeferredPolicyAcquisitionCosts.

The source filing: Lincoln National’s 10-Q, filed May 7, 2026.

Filed
May 7, 2026, 4:23 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000059558-26-000035
Line itemVariable AnnuitiesFixed AnnuitiesTraditional LifeUL and OtherGroup ProtectionRetirement Plan Services
Balance as of beginning-of-year$4,008$452$1,281$6,057$198$242
Deferrals1424624106305
Amortization(108)(19)(35)(83)(32)(4)
Balance as of end-of-period$4,042$479$1,270$6,080$196$243

Item 1. Financial Statements

FAQ

What is Lincoln National's group protection — deferred policy acquisition cost?
Lincoln National (LNC) reported group protection — deferred policy acquisition cost of $196M in Q1 2026.
How has Lincoln National's group protection — deferred policy acquisition cost changed year-over-year?
Lincoln National's group protection — deferred policy acquisition cost increased by 8.3% year-over-year, from $181M to $196M.
What is the long-term trend for Lincoln National's group protection — deferred policy acquisition cost?
Over 2 years (2023 to 2025), Lincoln National's group protection — deferred policy acquisition cost has grown at a 13.4% compound annual growth rate (CAGR), from $588M to $756M.
What does group protection — deferred policy acquisition cost mean?
This metric tracks the unamortized portion of costs directly related to the successful acquisition of new insurance policies, such as commissions and underwriting expenses. By deferring these costs, the company matches expenses with the revenue generated over the life of the policy. It is a key indicator of the efficiency and scale of the company's sales and distribution efforts.

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