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Lincoln Financial posts $1.3 billion net income in Q2 2026

The insurer reported record-high ending account balances of $182 billion for annuities, up nearly 9% year over year, alongside Q2 sales of $3.5 billion.

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Lincoln Financial reported second-quarter 2026 net income of $1.3 billion, reversing from a net loss of $699 million in the same period a year earlier, Reinsurance News said. The company also said adjusted operating income was $439 million, up from $427 million in Q2 2025.

The outlet reported that annuities operating income was $287 million, driven by favorable equity markets and higher spread income, partially offset by variable annuity outflows. Lincoln Financial said annuities ended the quarter with record-high ending account balances of $182 billion net of reinsurance, up nearly 9% year over year, and total sales of $3.5 billion with spread-based products accounting for 63% of sales.

Reinsurance News added that life insurance operating income rose to $57 million, up $25 million year over year, supported by favorable mortality and partly offset by lower alternative investment income. The company said total margin increased 160 basis points to 3.6% based on underlying earnings growth.

For its workplace solutions, Lincoln Financial reported group protection operating income of $147 million and a 10.4% margin, with the prior-year quarter including a $15 million experience refund, while premiums rose 2% year over year. The insurer also said retirement plan services operating income climbed 32% year over year to $49 million, despite $2.4 billion in net outflows, as total deposits grew 4% to $3.7 billion and ending account balances reached a record $131 billion.

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