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Lincoln National LNC Variable Annuities — Separate account liabilities

Other product segments

UL and Other
3,323,700,000,000%+18.3%
Other
5,900,000,000%+3.5%

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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$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:SeparateAccountsLiability.

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 — separate account liabilities?
Lincoln National (LNC) reported variable annuities — separate account liabilities of 11,671,600,000,000% in Q1 2026.
How has Lincoln National's variable annuities — separate account liabilities changed year-over-year?
Lincoln National's variable annuities — separate account liabilities increased by 2.7% year-over-year, from 11,363,500,000,000% to 11,671,600,000,000%.
What is the long-term trend for Lincoln National's variable annuities — separate account liabilities?
Over 2 years (2023 to 2025), Lincoln National's variable annuities — separate account liabilities has grown at a 4.7% compound annual growth rate (CAGR), from 43,788,000,000,000% to 48,005,300,000,000%.
What does variable annuities — separate account liabilities mean?
The total value of assets held in separate accounts that are legally segregated from the insurer's general account to support variable annuity policyholder obligations. This metric tracks the scale of assets managed on behalf of policyholders where the investment risk is primarily borne by the client.