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Lincoln National LNC Variable Annuities — Market risk benefit liabilities

Other product segments

Fixed Annuities
$168M+22.6%

Similar metrics at other companies

Principal Financial Group logo
PFGVariable Annuity — Market Risk Benefit Liability Amount
$81.4M+1.2%
Jackson Financial logo
JXNVariable annuity — Market risk benefit liabilities, at fair value
$3.76B-7.2%
MetLife logo
METVariable Annuity — Market Risk Benefit, Benefit Payment
$24M+4.3%
Principal Financial Group logo
PFGVariable Annuity — Market Risk Benefit Asset Amount
$163.7M+3.2%
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PFGVariable Annuity — Market Risk Benefit Increase Decrease From Interest Rate Change
-810,000,000%-2,960,000,000pp
MetLife logo
METVariable Annuity — Market Risk Benefit, after Increase (Decrease) from Instrument-Specific Credit Risk
$1.95B-10.9%

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$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:MarketRiskBenefitLiabilityAmount.

The official record: Lincoln National’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lincoln National's variable annuities — market risk benefit liabilities?
Lincoln National (LNC) reported variable annuities — market risk benefit liabilities of $957M in Q1 2026.
How has Lincoln National's variable annuities — market risk benefit liabilities changed year-over-year?
Lincoln National's variable annuities — market risk benefit liabilities decreased by 17.9% year-over-year, from $1.17B to $957M.
What is the long-term trend for Lincoln National's variable annuities — market risk benefit liabilities?
Over 2 years (2023 to 2025), Lincoln National's variable annuities — market risk benefit liabilities has grown at a -18.2% compound annual growth rate (CAGR), from $6.23B to $4.17B.
What does variable annuities — market risk benefit liabilities mean?
Reflects the estimated present value of future obligations arising from market risk benefits, such as guaranteed minimum withdrawal or income benefits, within variable annuity products. This liability fluctuates based on market performance, interest rates, and policyholder behavior assumptions. High or rising liabilities may indicate increased exposure to market volatility and potential future capital requirements.