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Lincoln National LNC Net premiums earned

Discontinued — last reported Q4 '25

Net premiums earned at other companies

Aflac logo
AflacAFL
$3.25B-6.3%
MetLife logo
MetLifeMET
$11.44B+5.8%
Prudential Financial logo
Prudential FinancialPRU
$6.88B-1.5%
Equitable Holdings logo
Equitable HoldingsEQH
$268M+3.1%
Brighthouse Financial logo
Brighthouse FinancialBHF
$165M-0.6%
Jackson Financial logo
Jackson FinancialJXN
$28M-30.0%

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:PremiumsEarnedNet.

The source filing: Lincoln National’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 5:22 PM EST
Fiscal year
FY2025
Accession
0000059558-26-000016
Line itemFor the Years Ended December 31, 2025For the Years Ended December 31, 2024For the Years Ended December 31, 2023
Direct insurance premiums and fee income$14,485$14,160$13,782
Reinsurance assumed298690
Reinsurance ceded (1)(2,352)(2,419)(4,733)
Total insurance premiums and fee income$12,162$11,827$9,139
Direct insurance benefits$10,818$10,857$10,829
Reinsurance ceded (1)(2,858)(2,939)(4,691)
Total benefits$7,960$7,918$6,138
Direct market risk benefit (gain) loss$(350)$(2,818)$(2,309)

Item 8. Financial Statements and Supplementary Data

FAQ

What is Lincoln National's net premiums earned?
Lincoln National (LNC) reported net premiums earned of $3.04B in Q4 2025.
How has Lincoln National's net premiums earned changed year-over-year?
Lincoln National's net premiums earned increased by 2.8% year-over-year, from $2.96B to $3.04B.
What is the long-term trend for Lincoln National's net premiums earned?
Over 4 years (2021 to 2025), Lincoln National's net premiums earned has grown at a 21.3% compound annual growth rate (CAGR), from $5.62B to $12.16B.
What does net premiums earned mean?
The total insurance premiums earned by the company after accounting for both premiums ceded to reinsurers and premiums assumed from other insurers. This is a primary indicator of the company's core insurance revenue and market scale.

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