Lincoln National Corporation


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Lincoln National Corporation: Initiation of Coverage – A Tale Of Strategic Repositioning & Improving Cost Management! 


Lincoln Financial Group delivered a robust performance in the first quarter of 2024, attributed to strategic repositioning and growth across its various business segments. The company reported strong results in its Annuities, Group Protection, Retirement Plan Services, and Life business areas. Key highlights include a significant earnings quarter for the Annuities division and strong year-over-year earnings growth in Group Protection. The Annuities business benefited from higher ending account balances, driven by favorable equity markets and solid product sales, although there was a noted decrease compared to the last quarter of the previous year. The introduction of innovative products like the second-generation Retirement Income Level Annuities (RILAs) demonstrates Lincoln Financial’s commitment to refreshing its product offerings to stay competitive and meet customer needs. The Group Protection segment delivered one of its best earnings quarters, with substantial premium growth and margin expansion. This performance reflects the successful execution of a pricing discipline and strong customer relationships. Efforts to improve the underwriting technology and customer service model have also contributed to this success.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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