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Lincoln Financial Group (NYSE: LNC) has announced that its board of directors has declared a quarterly cash dividend of $0.45 per share on the ’s common stock. This dividend will be payable on August 1, 2024, to shareholders of record as of the close of business on July 10, 2024.
Lincoln Financial Group (NYSE:LNC) has expanded its partnership with EvolutionIQ to enhance its disability insurance claims process using human-in-the-loop AI technology. This development aims to improve disability claims management, offer better guidance to claimants, and streamline processes. The AI technology analyzes claims data, providing timely insights to claims professionals, assisting claimants in their return-to-work journeys. The partnership, which began in early 2023, has shown success with long-term disability claims and has now been extended to short-term disability claims. Lincoln's Group Protection claimants reported a 91% satisfaction rate in 2023.
Lincoln Financial Group (NYSE: LNC) announced the launch of Lincoln Level Advantage 2SM, an enhanced version of its Lincoln Level Advantage indexed variable annuity. This new version introduces industry-first features, such as accounts tracking Capital Group active ETFs and the Secure Lock+SM feature. These innovations offer investors more growth opportunities, better protection, and greater control. The new ETF strategies include the Capital Group Growth ETF (CGGR) and Capital Group Global Growth Equity ETF (CGGO), both aimed at long-term capital growth. The Secure Lock+ feature allows investors to lock in gains, reset protection, and reallocate funds, addressing market volatility concerns and enhancing investor confidence. This launch comes amid increasing demand for RILA products, driven by inflation and retirement income concerns. Lincoln Level Advantage has been highly successful, with over $23 billion in lifetime sales since its inception in 2018.
Lincoln Financial Group (NYSE: LNC) has appointed Brian Kroll as Executive Vice President, Head of Retail Life and Annuity Solutions, effective May 16, 2024. Kroll will oversee all aspects of the Life Insurance and Annuity businesses, including product manufacturing, underwriting, new business, inforce operations, and strategic planning. With over 30 years of industry experience and a prior 18-year tenure at Lincoln, Kroll is expected to drive profitable growth through strategic realignment of product mixes. He will report to CEO Ellen Cooper and collaborate closely with John Kennedy, EVP, Chief Distribution and Brand Officer. Kroll's expertise includes launching Lincoln's registered index-linked annuity (RILA) and expanding fixed indexed annuity offerings. Matt Grove, EVP, will advise during the transition following Lincoln's wealth management deal with Osaic Inc., closing on May 6, 2024.
Lincoln Financial Group (NYSE: LNC) introduces Lincoln MoneyGuard Market Advantage to cater to shifting customer needs for growth and flexibility in the hybrid long-term care space. The product offers consumers market-driven growth, increased investment options, flexibility, and tax advantages. It provides enhanced flexibility for consumers and financial professionals alike, reinforcing Lincoln's commitment to meeting client preferences.
Lincoln Financial Group announced that Lincoln National will hold its 2024 Annual Meeting of Shareholders on May 23, 2024, in a virtual format. Shareholders as of March 18, 2024, are entitled to attend. The meeting will be accessible online, and questions can be submitted in advance.
Lincoln Financial Group and American Century Investments have announced a partnership to enhance their variable insurance trusts lineup. Nine American Century Variable Portfolio funds have been adopted by the Lincoln Variable Insurance Products Trust, providing investors with additional opportunities and diversification. This collaboration aims to leverage American Century's investment expertise and Lincoln Financial's platform to offer leading insurance, retirement, and variable annuity solutions.
Lincoln Financial Group (NYSE: LNC) has completed the sale of its wealth management business to Osaic, Inc., providing approximately $650 million of capital benefit. The company plans to use the funds to increase its risk-based capital ratio and reduce leverage. This strategic move aligns with Lincoln's focus on growing its insurance and workplace solutions businesses to deliver long-term value for stakeholders.
Lincoln Financial Group (NYSE: LNC) reported first-quarter results with net income available to common stockholders at $1.2 billion. Adjusted operating income was $71 million, impacted by legal accrual, severance expense, and tax-related items. The primary differences between net income and adjusted operating income were due to market risk benefits and a change in the fair value of an embedded derivative. The company's strategic realignment showed progress, with Annuities, Group Protection, and Retirement Plan Services performing well.
Lincoln National has declared a quarterly dividend of $562.50 per share on the 's 9.000% Non-Cumulative Preferred Stock, Series D. The dividend will be payable on June 1, 2024, to holders of record on May 15, 2024, with an ex-dividend date of May 14, 2024.
