Lincoln National Corporation Earnings Recaps
Q3 2025
Oct 31, 2025
Lincoln Financial delivered robust financial results in Q3 2025, marking its fifth consecutive quarter of year-over-year growth in adjusted operating income, driven by strategic execution across its four business segments.
Key takeaways
- Annuities segment posted $4.5 billion in sales, achieving a 36% increase in fixed annuity sales year-over-year.
- Life Insurance and Group Protection divisions saw improved earnings due to operational efficiencies and healthy premium growth.
- Retirement Plan Services reported positive net flows and higher earnings, fueled by increased account balances.
- The annual assumption review yielded favorable adjustments, aligning underlying experience with future expectations.
- Enhanced operational efficiency and a strong capital position with well above the 20 percentage point RBC buffer solidify Lincoln's growth strategy.