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Lincoln National LNC Variable Annuities — Policyholder account balances

Other product segments

UL and Other
$35.72B-1.4%
Fixed Annuities
$28.97B+11.3%
Other
$8.15B+58.1%

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$3.24B-9.7%
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$21.64B+31.4%
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KKRVariable Annuities — Separate Account Liabilities
$3B-5.8%
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AMPVariable Universal Life Insurance — Policyholder account balances
$1.72B+4.4%
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AMPFixed accounts of structured variable annuities — Policyholder account balances
$102M+104%
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AMPFixed accounts of variable annuities — Policyholder account balances
$3.19B-9.6%

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:PolicyholderFunds.

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 — policyholder account balances?
Lincoln National (LNC) reported variable annuities — policyholder account balances of $39.14B in Q1 2026.
How has Lincoln National's variable annuities — policyholder account balances changed year-over-year?
Lincoln National's variable annuities — policyholder account balances increased by 13.9% year-over-year, from $34.37B to $39.14B.
What is the long-term trend for Lincoln National's variable annuities — policyholder account balances?
Over 2 years (2023 to 2025), Lincoln National's variable annuities — policyholder account balances has grown at a 19.2% compound annual growth rate (CAGR), from $105.94B to $150.62B.
What does variable annuities — policyholder account balances mean?
The total value of assets held on behalf of policyholders within the variable annuity segment, representing the company's core liability to its customers. Monitoring this balance is essential for assessing the scale of the business and the long-term capital requirements for product guarantees.