Lincoln National Corporation reports developments across insurance and retirement businesses marketed as Lincoln Financial, including annuities, life insurance, group protection, and retirement plan services. Recurring updates cover earnings performance by business line, sales trends in retirement and protection products, capital actions, and dividends on common stock and Series D preferred depositary shares.
Company news also includes product launches such as fixed indexed annuity income solutions, technology integrations that connect broker platforms with Lincoln systems for policy, RFP, and quoting workflows, and leadership or governance developments affecting operating units. Coverage reflects the company’s role as a diversified provider of retirement income, workplace benefits, and life insurance products.
Lincoln Financial Group (NYSE: LNC) announced the appointment of Christen White as senior vice president of Group Benefit Claims. With over 20 years of experience, White previously held a similar role at MetLife, overseeing claims and call center operations. Her focus at Lincoln will be on enhancing customer service and implementing best practices in claim management. This leadership change aims to strengthen the claims team's effectiveness, as highlighted by James Reid, executive vice president. Lincoln Financial serves approximately 16 million customers, managing $282 billion in account values as of December 31, 2022.
Lincoln Financial Group (NYSE: LNC) expressed gratitude to the Philadelphia Eagles for their commendable season, acknowledging the team's dedication and memorable moments despite not winning the Super Bowl. The company has been the stadium sponsor of Lincoln Financial Field since 2003 and is involved in various community initiatives, including the Eagles Autism Challenge. The partnership reflects Lincoln's commitment to community engagement. As of December 31, 2022, Lincoln Financial reported $282 billion in account values, demonstrating its strong financial standing and focus on providing financial solutions that empower customers in their financial journeys.
Lincoln Financial Group (NYSE:LNC) has announced the declaration of preferred stock dividends. A semi-annual dividend of $635.9375 per share will be paid on its 9.250% Fixed Rate Reset Non-Cumulative Preferred Stock, Series C, with a payment of $25.4375 per depositary share. Additionally, a quarterly dividend of $618.75 per share will be distributed for the 9.000% Non-Cumulative Preferred Stock, Series D, translating to $0.61875 per depositary share (LNC,PRD). These dividends are payable on March 1, 2023, with a record date of February 18, 2023.
Lincoln Financial Group (NYSE: LNC) reported a net income of $6 million or $0.01 per diluted share for Q4 2022, a significant drop from $220 million or $1.20 per share in Q4 2021. The full-year net loss was $(2.2) billion, or $(13.10) per share, compared to a net income of $1.4 billion, or $7.43 per share, in 2021. Adjusted operating EPS fell to $0.97 from $1.56 year-over-year. Book value per share decreased 84% to $18.41, driven by higher treasury rates affecting unrealized gains. While annuity sales rose 1% year-over-year, total revenues decreased to $18.8 billion from $19.2 billion in 2021.
Lincoln Financial Group (NYSE: LNC) has appointed Christopher Neczypor as Executive Vice President and Chief Financial Officer effective February 17, 2023. He succeeds Randal Freitag, who will assist in the transition until the end of Q1 2023. Neczypor, who has over 20 years of industry experience, joined Lincoln in 2018 as Head of Investment Risk and Strategy. He has significantly contributed to the company’s strategic objectives and team building. Tom Faenza will expand his role to Senior Vice President, Chief Strategy Officer, overseeing long-term strategic planning. Both appointments signal a strengthening of leadership for Lincoln Financial.
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Lincoln Financial Group (NYSE: LNC) has appointed Vince Garzarella as senior vice president of Retirement Plan Services Operations. In this new role, Garzarella will oversee strategy development, customer service, and plan administration. He aims to enhance administrative capabilities to better serve plan sponsors and participants. Reporting to Ralph Ferraro, president of Retirement Plan Services, Garzarella joins the Corporate Leadership Group. He previously held leadership roles at Lincoln and spent 19 years at Vanguard. Lincoln Financial Group, based in Radnor, Pennsylvania, manages approximately $270 billion in account values as of September 30, 2022.
Lincoln Financial Group (NYSE: LNC) celebrated its long-standing sponsorship of Lincoln Financial Field after the Philadelphia Eagles clinched the NFC Championship. The company's involvement extends beyond sports, focusing on financial wellness for players. This partnership has been in place since the 2003 season, symbolizing Lincoln Financial's commitment to community and financial education.
Lincoln Financial Group highlights the financial struggles faced by consumers in 2022, with one in three Americans reporting financial difficulties. A study shows that 76% of respondents expect worsening conditions due to inflation and debt. However, those who set financial goals were significantly more likely to see improvements in their financial wellness. Lincoln suggests three actionable goals: 1. Develop a budget, focusing on both fixed and flexible expenses; 2. Save from each paycheck, even small amounts can accumulate; 3. Consult a financial professional for tailored financial planning. Increased financial guidance could lead to better outcomes for consumers.
Lincoln Financial Network, part of Lincoln Financial Group (NYSE: LNC), has announced the addition of David Layo, a seasoned financial planner, to their team. Layo brings 25 years of experience, having managed approximately $125 million in client assets throughout his career. He joins LFN after 17 years at Citadel Credit Union and will benefit from Lincoln's extensive resources and advisory support. Layo emphasizes Lincoln's strong client-focused culture and integrity as key reasons for his decision. This move aligns with LFN’s ongoing commitment to enhance its advisory talent pool.