Lincoln National Corporation

Lincoln National Corporation (NYSE: LNC) is a leading provider of retirement, insurance, and annuity products in the United States, headquartered in Radnor, Pennsylvania, offering financial protection and wealth accumulation solutions to approximately 17 million customers through workplace, employer-sponsored, and individual distribution channels. Founded in 1905 and named in honor of Abraham Lincoln, Lincoln Financial Group has built one of the most recognized brands in the U.S. life insurance, annuity, and retirement industry through decades of product innovation and distribution excellence across its core markets. According to its website at lincolnfinancial.com, the company's mission is to help people take charge of their future by providing financial solutions that help them live with more confidence, security, and opportunity.

Lincoln National's product portfolio, described at lincolnfinancial.com, includes annuities — encompassing fixed, variable, and registered index-linked annuities (RILAs) for retirement income; life insurance spanning term life, universal life, variable universal life, and indexed universal life for financial protection; group protection including employer-sponsored group life, disability, dental, vision, and accident insurance; and retirement plan services encompassing 401(k), 403(b), and other defined contribution retirement plan administration and investment management. Lincoln's annuities business has been a market leader in the RILA segment — a fast-growing category providing market participation with downside protection buffers — and in variable annuities with guaranteed living benefit riders that provide retirees with lifetime income protection. The company's group protection and retirement plan services businesses serve thousands of employers and millions of employees across the American workforce.

Lincoln National has executed a significant strategic and financial restructuring following challenges encountered during the COVID-19 pandemic period — including elevated life insurance mortality claims and annuity reserve strengthening — undertaking expense reduction, business simplification, and capital optimization initiatives designed to rebuild financial strength and improve earnings quality. According to lincolnfinancial.com, the company's strategic priorities include growing its annuity and group protection businesses where Lincoln has strong competitive positions, improving the returns and capital efficiency of its life insurance portfolio, and maintaining financial discipline that supports consistent capital return to shareholders through dividends and share repurchases. Lincoln National's combination of diversified insurance and annuity business model, recognized brand in retirement markets, significant distribution relationships, and strategic focus on financial improvement positions it as a major participant in the U.S. life insurance and retirement income market.