Lincoln Financial Group Releases 2Q Earnings
Proquest LLC |
In its release on
"Lincoln delivered another strong quarter, achieving record levels of operating revenues, operating earnings and assets under management," said
Operating Highlights - Second Quarter 2014 versus Second Quarter 2013
-Consolidated total account balances of
-Annuities total account balances of
-Retirement Plan Services total deposits of
-
-Group Protection non-medical earned premiums of
The quarter included net favorable items of approximately
Second Quarter 2014 - Segment Results
Annuities
The Annuities segment reported income from operations of
Gross annuity deposits in the second quarter were
The company continues to focus on shifting the mix of variable annuity sales with and without guaranteed living benefits. Net of reinsurance, variable annuity deposits without a guaranteed living benefit rider as a percentage of total variable annuity deposits were 42 percent, compared to 40 percent in the first quarter of 2014.
In July, the company amended and restated its reinsurance treaty covering new sales of its variable annuity guaranteed living benefit product. The treaty will provide an additional
Retirement Plan Services
Retirement Plan Services reported income from operations of
Total deposits for the quarter of
Life Insurance
Life Insurance income from operations increased 10 percent to
Life insurance sales in the quarter were
Life insurance average in-force of
The quarter's results included net favorable items of
Group Protection
For the second quarter, Group Protection income from operations was
Group Protection second quarter sales of
Non-medical net earned premiums were
Other Operations
Other Operations reported a loss from operations of
The quarter's results included net favorable items of
Realized Gains and Losses
Realized gains/losses (after-tax) in the quarter included:
-A net gain from general account investments of
-A
Unrealized Gains and Losses
The company reported a net unrealized gain of
Capital
During the quarter, the company repurchased 3.1 million shares of stock at a cost of
Book Value
As of
More information and complete details:
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