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Lincoln National LNC Market risk benefits

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Segments

By product

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Variable Annuities$957M-17.9%
Fixed Annuities$168M+22.6%

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$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:MarketRiskBenefitLiabilityAmount.

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 / March 31, 2026As of / December 31, 2025
Policyholder account balances$135,683$136,245
Future contract benefits42,01042,077
Funds withheld reinsurance liabilities17,56417,922
Market risk benefit liabilities1,1271,118
Deferred front-end loads7,8047,586
Payables for collateral on investments6,5567,954
Short-term debt400400
Long-term debt5,9695,866

Item 1. Financial Statements

FAQ

What is Lincoln National's market risk benefits?
Lincoln National (LNC) reported market risk benefits of $1.13B in Q1 2026.
How has Lincoln National's market risk benefits changed year-over-year?
Lincoln National's market risk benefits decreased by 13.7% year-over-year, from $1.31B to $1.13B.
What is the long-term trend for Lincoln National's market risk benefits?
Over 3 years (2022 to 2025), Lincoln National's market risk benefits has grown at a -18.7% compound annual growth rate (CAGR), from $2.08B to $1.12B.
What does market risk benefits mean?
This liability represents the fair value of market risk benefits embedded in insurance and annuity contracts that provide protection against capital market volatility. It captures the company's obligation to policyholders for guarantees related to investment performance or account value protection. Fluctuations in this metric are highly sensitive to changes in interest rates, equity markets, and policyholder behavior.

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