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Lincoln National LNC Variable Annuities — Market Risk Benefit, Benefit Payment

Other product segments

Fixed Annuities
$0

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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:MarketRiskBenefitBenefitPayment.

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 or For the Three Months Ended March 31, 2026 / Variable AnnuitiesAs of or For the Three Months Ended March 31, 2026 / Fixed AnnuitiesAs of or For the Three Months Ended March 31, 2026 / Retirement Plan ServicesAs of or For the Three Months Ended March 31, 2025 / Variable AnnuitiesAs of or For the Three Months Ended March 31, 2025 / Fixed AnnuitiesAs of or For the Three Months Ended March 31, 2025 / Retirement Plan Services
of changes in non-performance risk(4,081)159(45)(3,651)65(42)
Issuances5
Attributed fees collected3758237381
Benefit payments(7)(6)
Effect of changes in interest rates8(6)1396391
Effect of changes in equity markets3408145622
Effect of changes in equity index volatility8231
In-force updates and other changes in MRBs (1)199859(2)1

Item 1. Financial Statements

FAQ

What is Lincoln National's variable annuities — market risk benefit, benefit payment?
Lincoln National (LNC) reported variable annuities — market risk benefit, benefit payment of $7M in Q1 2026.
How has Lincoln National's variable annuities — market risk benefit, benefit payment changed year-over-year?
Lincoln National's variable annuities — market risk benefit, benefit payment increased by 16.7% year-over-year, from $6M to $7M.
What is the long-term trend for Lincoln National's variable annuities — market risk benefit, benefit payment?
Over 3 years (2022 to 2025), Lincoln National's variable annuities — market risk benefit, benefit payment has grown at a -25.5% compound annual growth rate (CAGR), from $63M to $26M.
What does variable annuities — market risk benefit, benefit payment mean?
Reflects the actual cash outflows paid to policyholders for claims related to market risk benefit guarantees. This metric tracks the realization of the company's risk exposure as policyholders trigger their guaranteed benefits. High payments relative to expectations may signal adverse selection or significant market stress impacting the portfolio.

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