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Lincoln National's Business Segments
Lincoln National's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q1 FY2026
Reportable Segments
5
Largest Segment
Life
Total Revenue
$ 5,306
Regions Reported
-
Revenue Share by Reportable Segment - Q1 FY2026
- Life33.6%
- Annuities29.7%
- Group Protection29.3%
- Retirement Plan Services6.5%
- Corporate and Unallocated0.9%
Revenue by Reportable Segment - Q1 FY2026
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Life | $ 1,785 | 33.6% |
| Annuities | $ 1,576 | 29.7% |
| Group Protection | $ 1,555 | 29.3% |
2 more segments available
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Description of Lincoln National
Lincoln National Corporation (LNC) is a prominent American financial services organization headquartered in Radnor, Pennsylvania. The corporation is well-regarded for its diverse range of services and products across multiple sectors. Lincoln National operates primarily in four business segments: Lincoln Retirement, Life Insurance, Investment Management, and Lincoln UK. Each segment serves distinct yet interconnected roles within the overall mission of the company.
1. Lincoln Retirement
The Lincoln Retirement segment focuses on providing retirement solutions including defined contribution plans, such as 401(k) plans, and individual retirement accounts (IRAs). The company aims to help individuals and institutions save for retirement by offering a variety of investment products, including annuities and mutual funds. LNC is also involved in pension risk transfer solutions, helping organizations manage and de-risk their pension liabilities. This segment emphasizes long-term growth and security, aligning with their mission to ensure financial peace of mind for their clients.
Life Insurance
The Life Insurance segment of Lincoln National Corporation offers a variety of life insurance products, including term life, universal life, and whole life insurance policies. These products are tailored to meet the needs of different demographics, with options suitable for both individuals and families. The Life Insurance segment aims to provide financial security to beneficiaries and peace of mind to policyholders, ensuring that individuals have coverage in the event of unforeseen circumstances.
Investment Management
Lincoln National’s Investment Management segment provides asset management services, focusing on delivering investment solutions across various asset classes. This segment caters to institutional investors, retail portfolios, and other investment funds. The company offers a variety of investment strategies, including equities, fixed income, and alternative investments. With an experienced team of investment professionals, Lincoln aims to achieve competitive returns while managing the risks associated with market fluctuations.
Lincoln UK
Lincoln UK operates as an extension of Lincoln National’s diverse offerings, providing financial services and products specific to the United Kingdom market. This segment includes retirement and investment solutions tailored for UK consumers, reflecting the local markets regulatory environment and consumer preferences. By engaging with customers in the UK, LNC aims to broaden its international reach and explore potential growth opportunities in European markets.
Recent Developments and Strategic Initiatives
In recent years, Lincoln National Corporation has focused on innovation and modernization across its business segments. The reorganization undertaken at the turn of the millennium has allowed LNC to better tailor its offerings to meet the evolving needs of its customers and the marketplace. This flexibility has enabled Lincoln to adapt to changing regulatory environments, demographic shifts, and technological advancements in the financial services industry.
The establishment of Lincoln Financial Distributors (LFD) has been a crucial element in recognizing the importance of financial intermediaries and optimizing sales and distribution channels. By enhancing relationships with financial advisors and intermediaries, LFD aims to ensure that clients receive personalized financial solutions and services.
Financial Performance
Lincoln National Corporation has demonstrated solid financial performance, supported by effective risk management and strategic planning. The companys ability to generate strong cash flows and maintain robust capital levels positions it well in a competitive marketplace. The balance sheet reflects a prudent approach to capital allocation, with ongoing investments in technology and product development to ensure competitiveness and sustainability.
Corporate Social Responsibility and Community Engagement
LNC is committed to corporate social responsibility, dedicating resources and efforts to community engagement and sustainability initiatives. The company invests in programs aimed at enhancing financial literacy, inclusion, and well-being, contributing positively to the communities it serves.
Conclusion
Lincoln National Corporation has continuously evolved to address the dynamic landscape of financial services. By focusing on its core segments of retirement, life insurance, investment management, and international operations, LNC aims to deliver comprehensive financial solutions that cater to the diverse needs of its clients. As it navigates future challenges and opportunities, LNC remains steadfast in its commitment to enhancing financial security and empowerment for individuals and organizations alike.
1. Lincoln Retirement
The Lincoln Retirement segment focuses on providing retirement solutions including defined contribution plans, such as 401(k) plans, and individual retirement accounts (IRAs). The company aims to help individuals and institutions save for retirement by offering a variety of investment products, including annuities and mutual funds. LNC is also involved in pension risk transfer solutions, helping organizations manage and de-risk their pension liabilities. This segment emphasizes long-term growth and security, aligning with their mission to ensure financial peace of mind for their clients.
Life Insurance
The Life Insurance segment of Lincoln National Corporation offers a variety of life insurance products, including term life, universal life, and whole life insurance policies. These products are tailored to meet the needs of different demographics, with options suitable for both individuals and families. The Life Insurance segment aims to provide financial security to beneficiaries and peace of mind to policyholders, ensuring that individuals have coverage in the event of unforeseen circumstances.
Investment Management
Lincoln National’s Investment Management segment provides asset management services, focusing on delivering investment solutions across various asset classes. This segment caters to institutional investors, retail portfolios, and other investment funds. The company offers a variety of investment strategies, including equities, fixed income, and alternative investments. With an experienced team of investment professionals, Lincoln aims to achieve competitive returns while managing the risks associated with market fluctuations.
Lincoln UK
Lincoln UK operates as an extension of Lincoln National’s diverse offerings, providing financial services and products specific to the United Kingdom market. This segment includes retirement and investment solutions tailored for UK consumers, reflecting the local markets regulatory environment and consumer preferences. By engaging with customers in the UK, LNC aims to broaden its international reach and explore potential growth opportunities in European markets.
Recent Developments and Strategic Initiatives
In recent years, Lincoln National Corporation has focused on innovation and modernization across its business segments. The reorganization undertaken at the turn of the millennium has allowed LNC to better tailor its offerings to meet the evolving needs of its customers and the marketplace. This flexibility has enabled Lincoln to adapt to changing regulatory environments, demographic shifts, and technological advancements in the financial services industry.
The establishment of Lincoln Financial Distributors (LFD) has been a crucial element in recognizing the importance of financial intermediaries and optimizing sales and distribution channels. By enhancing relationships with financial advisors and intermediaries, LFD aims to ensure that clients receive personalized financial solutions and services.
Financial Performance
Lincoln National Corporation has demonstrated solid financial performance, supported by effective risk management and strategic planning. The companys ability to generate strong cash flows and maintain robust capital levels positions it well in a competitive marketplace. The balance sheet reflects a prudent approach to capital allocation, with ongoing investments in technology and product development to ensure competitiveness and sustainability.
Corporate Social Responsibility and Community Engagement
LNC is committed to corporate social responsibility, dedicating resources and efforts to community engagement and sustainability initiatives. The company invests in programs aimed at enhancing financial literacy, inclusion, and well-being, contributing positively to the communities it serves.
Conclusion
Lincoln National Corporation has continuously evolved to address the dynamic landscape of financial services. By focusing on its core segments of retirement, life insurance, investment management, and international operations, LNC aims to deliver comprehensive financial solutions that cater to the diverse needs of its clients. As it navigates future challenges and opportunities, LNC remains steadfast in its commitment to enhancing financial security and empowerment for individuals and organizations alike.
Lincoln National Corporation Overview
Lincoln National Corporation (LNC), a prominent diversified financial services organization, is based in the United States and provides a comprehensive suite of products and services. LNC’s primary focus areas include retirement solutions, life insurance, investment management, and ancillary services. The company is committed to meeting the diverse needs of both individual and institutional clients, offering tax-advantaged products, wealth protection solutions, and a range of investment opportunities designed to secure financial futures.
1. Lincoln Retirement Segment
Overview
The Lincoln Retirement segment operates extensively from strategic locations such as Fort Wayne, Indiana, and Hartford, Connecticut, with additional offices in Portland, Maine, and Arlington Heights, Illinois. This segment prioritizes delivering tax-deferred investment growth and lifetime income solutions, chiefly through fixed and variable annuities. The aim is to support clients in achieving long-term financial stability during retirement.
Lines of Business
- Individual Annuities: This line focuses on marketing non-qualified and qualified fixed and variable annuities directly to individuals, enhancing retirement readiness through features like tax-deferred growth and diverse payout options.
- Employer-Sponsored Markets: LNC offers a robust suite of fixed and variable annuities via an all-in-one retirement program designed specifically for employers. This includes investment options, record-keeping, employee education, and compliance services, catering to various sectors, including healthcare, public/government, education, corporate, and not-for-profit.
Products
- Annuities: LNC categorizes annuities into immediate or deferred, with options for fixed and variable contracts.
- Fixed Annuities: Provide guaranteed minimum interest rates with principal preservation, including:
- Lincoln Select Fixed Annuity
- ChoicePlus Fixed Annuity
- StepFive Fixed Annuity: Features a withdrawal window without surrender charges between guarantee periods.
- Variable Annuities: Offer customizable investment choices among various sub-accounts. Examples are:
- Individual and Group Multi-Fund Variable Annuity: Featuring a multitude of fund alternatives managed by reputable investment advisors.
Life Insurance Segment
Overview
The Life Insurance segment, primarily operating from Hartford, Connecticut, and Fort Wayne, Indiana, is focused on wealth creation and protection. This segment develops life insurance products catered to affluent clients who possess significant investable assets.
Core Products
- Universal Life (UL) and Variable Universal Life (VUL): Provide a combination of death benefits and cash value accumulation. UL delivers fixed interest, while VUL links to investment performance with various fund options.
- Interest-Sensitive Whole Life (ISWL): This product integrates death benefits with cash value, placing emphasis on interest crediting.
- Corporate Owned Life Insurance (COLI): Designed for corporate entities, COLI aids in funding employee benefits while offering various investment and coverage options.
- Term Life Insurance: Offers straightforward coverage with a death benefit and no cash accumulation.
- Linked-Benefit Products: Combine universal life insurance with benefits for long-term care needs, ensuring comprehensive protection for policyholders.
Investment Management Segment
Overview
Headquartered in Philadelphia, Pennsylvania, the Investment Management segment encompasses a broad array of services tailored for both individual and institutional investors, emphasizing strategic investment growth.
Product Offerings
- Mutual Funds and Managed Accounts: Delivered by Delaware Management Holdings, Inc. a range of retail mutual funds and managed accounts are available that accommodate various risk profiles and investment strategies.
- 401(k) Plans and Retirement Services: LNC manages traditional employer-sponsored retirement plans, offering a wealth of investment options suited for employees.
- 529 College Savings Plans: These investment products assist families in funding higher education expenses.
- Institutional Investment Services: Aimed at public retirement plans, endowments, and Taft-Hartley plans, Delaware offers tailored investment solutions and separately managed accounts designed primarily for larger investments.
Lincoln UK
Overview
The Lincoln UK segment is predominantly focused on managing a closed block of business from Barnwood, Gloucester, aiming to retain existing customers while limiting new initiatives. This segment parallels U.S. offerings by providing unit-linked life and pension products.
Product Portfolio
- Unit-Linked Products: These offerings encompass life insurance and pension products that present investment options linked to the performance of underlying assets, akin to U.S. variable products. These products are tailored to meet the specific needs of UK policyholders.
Conclusion
Lincoln National Corporation employs a multifaceted approach to satisfy the diverse financial needs of its clients through a comprehensive range of offerings in retirement solutions, life insurance, and investment management. The organization’s dedication to tax-advantaged products, coupled with exemplary service, positions LNC as an influential player in the financial services sector, with a strong emphasis on supporting both individual and institutional markets in their financial journeys.
Lincoln National Corporation (LNC), a prominent diversified financial services organization, is based in the United States and provides a comprehensive suite of products and services. LNC’s primary focus areas include retirement solutions, life insurance, investment management, and ancillary services. The company is committed to meeting the diverse needs of both individual and institutional clients, offering tax-advantaged products, wealth protection solutions, and a range of investment opportunities designed to secure financial futures.
1. Lincoln Retirement Segment
Overview
The Lincoln Retirement segment operates extensively from strategic locations such as Fort Wayne, Indiana, and Hartford, Connecticut, with additional offices in Portland, Maine, and Arlington Heights, Illinois. This segment prioritizes delivering tax-deferred investment growth and lifetime income solutions, chiefly through fixed and variable annuities. The aim is to support clients in achieving long-term financial stability during retirement.
Lines of Business
- Individual Annuities: This line focuses on marketing non-qualified and qualified fixed and variable annuities directly to individuals, enhancing retirement readiness through features like tax-deferred growth and diverse payout options.
- Employer-Sponsored Markets: LNC offers a robust suite of fixed and variable annuities via an all-in-one retirement program designed specifically for employers. This includes investment options, record-keeping, employee education, and compliance services, catering to various sectors, including healthcare, public/government, education, corporate, and not-for-profit.
Products
- Annuities: LNC categorizes annuities into immediate or deferred, with options for fixed and variable contracts.
- Fixed Annuities: Provide guaranteed minimum interest rates with principal preservation, including:
- Lincoln Select Fixed Annuity
- ChoicePlus Fixed Annuity
- StepFive Fixed Annuity: Features a withdrawal window without surrender charges between guarantee periods.
- Variable Annuities: Offer customizable investment choices among various sub-accounts. Examples are:
- Individual and Group Multi-Fund Variable Annuity: Featuring a multitude of fund alternatives managed by reputable investment advisors.
Life Insurance Segment
Overview
The Life Insurance segment, primarily operating from Hartford, Connecticut, and Fort Wayne, Indiana, is focused on wealth creation and protection. This segment develops life insurance products catered to affluent clients who possess significant investable assets.
Core Products
- Universal Life (UL) and Variable Universal Life (VUL): Provide a combination of death benefits and cash value accumulation. UL delivers fixed interest, while VUL links to investment performance with various fund options.
- Interest-Sensitive Whole Life (ISWL): This product integrates death benefits with cash value, placing emphasis on interest crediting.
- Corporate Owned Life Insurance (COLI): Designed for corporate entities, COLI aids in funding employee benefits while offering various investment and coverage options.
- Term Life Insurance: Offers straightforward coverage with a death benefit and no cash accumulation.
- Linked-Benefit Products: Combine universal life insurance with benefits for long-term care needs, ensuring comprehensive protection for policyholders.
Investment Management Segment
Overview
Headquartered in Philadelphia, Pennsylvania, the Investment Management segment encompasses a broad array of services tailored for both individual and institutional investors, emphasizing strategic investment growth.
Product Offerings
- Mutual Funds and Managed Accounts: Delivered by Delaware Management Holdings, Inc. a range of retail mutual funds and managed accounts are available that accommodate various risk profiles and investment strategies.
- 401(k) Plans and Retirement Services: LNC manages traditional employer-sponsored retirement plans, offering a wealth of investment options suited for employees.
- 529 College Savings Plans: These investment products assist families in funding higher education expenses.
- Institutional Investment Services: Aimed at public retirement plans, endowments, and Taft-Hartley plans, Delaware offers tailored investment solutions and separately managed accounts designed primarily for larger investments.
Lincoln UK
Overview
The Lincoln UK segment is predominantly focused on managing a closed block of business from Barnwood, Gloucester, aiming to retain existing customers while limiting new initiatives. This segment parallels U.S. offerings by providing unit-linked life and pension products.
Product Portfolio
- Unit-Linked Products: These offerings encompass life insurance and pension products that present investment options linked to the performance of underlying assets, akin to U.S. variable products. These products are tailored to meet the specific needs of UK policyholders.
Conclusion
Lincoln National Corporation employs a multifaceted approach to satisfy the diverse financial needs of its clients through a comprehensive range of offerings in retirement solutions, life insurance, and investment management. The organization’s dedication to tax-advantaged products, coupled with exemplary service, positions LNC as an influential player in the financial services sector, with a strong emphasis on supporting both individual and institutional markets in their financial journeys.