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Lincoln National LNC Other — Separate account liabilities

Other product segments

Variable Annuities
11,671,600,000,000%+2.7%
UL and Other
3,323,700,000,000%+18.3%

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METInsurance, Other — Separate account liabilities
$31.55B+30.0%
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BHFULSG — Separate account liabilities
$0
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CRBGCorporate & Other — Separate account liabilities
$49.12B+1.0%
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AMPVariable Annuity — Separate account liabilities
$63.24B-0.3%
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METInvestment Product — Separate account liabilities
3,742,700,000,000%-72,800,000,000pp
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BHFRollforwards Total — Separate account liabilities
$85.38B-0.5%

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:SeparateAccountsLiability.

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 itemAs of March 31, 2026As of December 31, 2025
Variable Annuities$116,716$122,945
UL and Other33,23734,038
Retirement Plan Services22,03123,047
Other Operations (1)5962
Total separate account liabilities$172,043$180,092

Item 1. Financial Statements

FAQ

What is Lincoln National's other — separate account liabilities?
Lincoln National (LNC) reported other — separate account liabilities of 5,900,000,000% in Q1 2026.
How has Lincoln National's other — separate account liabilities changed year-over-year?
Lincoln National's other — separate account liabilities increased by 3.5% year-over-year, from 5,700,000,000% to 5,900,000,000%.
What is the long-term trend for Lincoln National's other — separate account liabilities?
Over 2 years (2023 to 2025), Lincoln National's other — separate account liabilities has grown at a 10.0% compound annual growth rate (CAGR), from 19,900,000,000% to 24,100,000,000%.
What does other — separate account liabilities mean?
This represents the total liabilities associated with separate accounts where the investment risk is primarily borne by the policyholder rather than the insurance company. These accounts are typically linked to variable annuity or variable life insurance products. The balance reflects the value of assets held in these accounts that must be returned to policyholders based on investment performance.

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