Lincoln National Corp (NYSE: LNC-PD)

Lincoln National Corporation is a holding company that operates multiple insurance and retirement businesses through subsidiary companies. The firm offers wealth accumulation wealth protection group protection and retirement income products and solutions. It is organized under the laws of Indiana and maintains its principal executive offices in Radnor Pennsylvania. Lincoln Financial is the marketing name for the corporation and its subsidiaries.

Revenue is generated primarily through insurance premiums fees and investment income. The company receives premium payments from individual and group policyholders charges fees for administrative and recordkeeping services and earns spreads on invested assets supporting policy reserves. Revenue also comes from distribution and advisory services provided through its wholesale and retail channels.

The company operates through the following segments: Annuities Life Insurance Group Protection and Retirement Plan Services.

• The Annuities segment offers variable fixed and registered index linked annuities that provide tax deferred growth lifetime income options and various guarantee features such as death benefits withdrawal benefits and income benefits. It serves individual investors seeking retirement accumulation and protection.

• The Life Insurance segment provides term universal indexed universal and variable universal life policies along with linked benefit and critical illness riders. It generates revenue from premiums cost of insurance charges and investment income while paying death claims and administering policies.

• The Group Protection segment offers short and long term disability insurance absence management services group term life accident critical illness hospital indemnity dental and vision products to employers of all sizes. Revenue comes from premiums and fees for administrative services.

• The Retirement Plan Services segment provides recordkeeping investment options and advisory services for defined contribution plans such as 401(k) 403(b) and 457 plans. It offers proprietary target date portfolios and guaranteed income benefits and earns fees from asset charges and spread income.

Lincoln National Corporation holds a competitive position in the U. S. insurance and retirement markets where it faces competition from large diversified financial firms such as Prudential Financial MetLife Allianz and Vanguard. Its advantages include a broad distribution network a diverse product suite strong financial strength ratings and a focus on technology enabled service delivery.

The company serves individual retail customers employer groups financial intermediaries such as brokers advisers banks and third party administrators. Specific customer names are not disclosed in the filing.