Group Protection was Lincoln National’s largest segment in fiscal 2025, bringing in $6.10B of $18.21B (33%).
| Segment | FY 2011 | FY 2012 | FY 2013 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Life Insurance | — | $4.93B | $6.29B | $5.90B | |||
| Life | — | — | — | — | |||
| Group Protection | — | $5.55B | $5.71B | $6.10B | |||
| Annuities | $4.48B | $732.00M | $4.70B | $4.86B | |||
| Retirement Plan Services | $1.27B | $1.27B | $1.28B | $1.33B | |||
| Investment Gains (Losses) | $20.00M | — | — | — | |||
| Amortization Of Deferred Gain Arising From Reserve Changes On Business Sold Through Reinsurance, Pre-Tax | — | — | — | — | |||
| Amortization Of Dfel Associated With Benefit Ratio Unlocking, Pre-Tax | — | — | — | — | |||
| Changes In The Fair Value Of Reinsurance-Related Embedded Derivatives, Trading Securities & Certain Mortgage Loans | -$52.00M | — | — | — | |||
| Other Operations | — | -$843.00M | $463.00M | $24.00M | |||
| Excluded Realized Gain (Loss) Pre-Tax | — | — | — | — | |||
| Total | $5.72B | $11.65B | $18.44B | $18.21B |
Lincoln National brought in $18.21B from its five segments in fiscal 2025, the year ended December 31, 2025. That was down 1.2% from $18.44B in fiscal 2024. Group Protection was the largest at $6.10B (33.5%), ahead of Life Insurance at $5.90B (32.4%) and Annuities at $4.86B (26.7%). The other two segments brought in $1.36B combined.
Compared with fiscal 2024, Group Protection grew fastest, up 6.8% to $6.10B, while Life Insurance fell the most, down 6.2% to $5.90B.
Lincoln National stopped reporting Investment Gains (Losses) as a separate segment after fiscal 2022, when it brought in $20.00M.
Life was Lincoln National’s largest segment in fiscal 2010, bringing in $4.59B of $10.55B (44%).
| Segment Reporting Information By Segment | FY 2010 |
|---|---|
| Life | $4.59B |
| Annuities | $2.65B |
| Group Protection | $1.83B |
| Retirement Plan Services | $988.00M |
| Other Operations | $487.00M |
| Total | $10.55B |
Lincoln National brought in $10.55B from its five segments in fiscal 2010, the year ended December 31, 2010. Life was the largest at $4.59B (43.5%), ahead of Annuities at $2.65B (25.2%) and Group Protection at $1.83B (17.4%). The other two segments brought in $1.48B combined.
Lincoln National (LNC) reports its revenue by segment and by segment reporting information by segment. In fiscal 2025, Group Protection was its largest segment, bringing in $6.10B (33.5% of the total), followed by Life Insurance at $5.90B (32.4%).
Group Protection was Lincoln National's largest segment in fiscal 2025, bringing in $6.10B, or 33.5% of the $18.21B total across its five segments.
Among Lincoln National's segments that make up at least 2% of revenue, Group Protection grew fastest in fiscal 2025, up 6.8% from $5.71B to $6.10B.
Every figure comes from Lincoln National's annual financial filings, as reported. Each line keeps the name Lincoln National gives it, and years follow its fiscal calendar.
Lincoln National's revenue by segment goes back to fiscal 2011, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.