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Lincoln National LNC Group Protection — Less: Reinsurance recoverables

Other segment segments

UL and Other
$5.58B+5.0%
Payout Annuities
$1.39B-6.0%
Traditional Life
$261M-27.5%

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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:LiabilityForFuturePolicyBenefitReinsuranceRecoverableAfterAllowance.

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 itemGroup Protection / As of or For the Three Months Ended March 31, 2026Group Protection / As of or For the Three Months Ended March 31, 2025
Ending balance at original discount rate6,2046,187
Effect of cumulative changes in discount
rate assumptions(411)(475)
Balance as of end-of-period5,7935,712
Less: Reinsurance recoverables123121
Balance as of end-of-period, net of reinsurance$5,670$5,591
Weighted-average duration of liability for future
claims (years)55

Item 1. Financial Statements

FAQ

What is Lincoln National's group protection — less: reinsurance recoverables?
Lincoln National (LNC) reported group protection — less: reinsurance recoverables of $123M in Q1 2026.
How has Lincoln National's group protection — less: reinsurance recoverables changed year-over-year?
Lincoln National's group protection — less: reinsurance recoverables increased by 1.7% year-over-year, from $121M to $123M.
What is the long-term trend for Lincoln National's group protection — less: reinsurance recoverables?
Over 2 years (2023 to 2025), Lincoln National's group protection — less: reinsurance recoverables has grown at a 0.6% compound annual growth rate (CAGR), from $487M to $493M.
What does group protection — less: reinsurance recoverables mean?
Represents the amount of insurance risk transferred to third-party reinsurers, which is deducted from the gross liability for future policy benefits. This metric indicates the company's reliance on reinsurance to mitigate exposure to large claims or catastrophic events.

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