About Company
Lincoln National Corporation is a US-based holding company that runs various investment handling and insurance enterprises via subsidiary organizations. Lincoln National Corporation’s name features among the Fortune 250 companies. The brand name for Lincoln National Corporation and its subsidiary organizations is Lincoln Financial Group.
In 1968, Lincoln National Corporation was structured according to the rules of Indiana state, and it keeps its main administrative bureaus in Radnor, Pennsylvania. The firm draws its origin from its oldest forerunner established in 1905.
Furthermore, Lincoln National Corporation functions as the nomination rights patron of Lincoln Financial Field in Philadelphia. The Philadelphia Eagles team uses it as the home ground for the NFL (National Football League).
Which industry does Lincoln National Corporation belong to?
Lincoln National Corporation belongs to the asset management and insurance industries.
When was it founded?
Lincoln Financial Group was set up in 1905, one hundred and sixteen years back.
Who is the founder of LNC?
The establisher of LNC is Perry Randall.
Business Operations of Lincoln National Corporation
Lincoln National Corporation splits its business operations into four commercial divisions: life cover, annuities, group cover, and retirement scheme facilities.
The major subsidiaries of LNC are the following:
- Lincoln Life & Annuity Company of New York
- Lincoln National Life Insurance Company
- Lincoln Financial Distributors
- First Penn-Pacific Life Insurance Company
- Lincoln Financial Securities
- Lincoln Financial Advisors
On 31st December 2016, Lincoln National Corporation featured consolidated shareholders’ equity worth US $14.5 billion and consolidated assets under supervision worth US $262 billion.
Chronology
The starting years: 1905-30
1905 – The Lincoln National Life Insurance Company is set up. Robert Todd Lincoln, son of erstwhile US President Abraham Lincoln, concedes approval to utilize the name of his father and similarity.
1906 – An earthquake took place in San Francisco.
1909 – NAACP (National Association for the Advancement of Colored People) is established.
1912- The Lincoln National Life Insurance Company gets into the reinsurance trade. This move turned the company into one of the trailblazers in the US-based reinsurance trade.
1914 – The First World War starts.
1920 – The Nineteenth Amendment offers American women the privilege to exercise their franchise.
1920-1940 – Women started playing leadership roles in the corporate world.
1928 – Formation of The Lincoln Historical Research Foundation took place to supervise the organization’s compilation of the relics of Abraham Lincoln.
1929 – Stock Market crumbles; Great Depression commences.
New dedication and expansion
1931—1955
1932 – The sculpture, “Abraham Lincoln – The Hoosier Youth,” is revealed at the initial Lincoln National Life Insurance bureau in Fort Wayne, Indiana.
1933 – Lincoln Financial Group attains US $1 billion of insurance effectively.
1941 – The United States participates in the 2nd World War.
1950 – Campaign for parity speeds up and is underpinned throughout the organization.
1955 – LNC observes the year as the 9th biggest life insurer in the US.
Developing impetus: 1956—1980
1962 – Setting up of Lincoln Financial Foundation takes place.
1964 – Congress promulgates Civil Rights Act.
1968 – LNC (Lincoln National Corporation) comes into existence, launching one of the oldest parent companies in the insurance sector.
1969 – Lincoln National Corporation commences buying and selling of stocks on the Midwest Stock Exchange and New York Stock Exchange (NYSE).
1973 – Oil emergency starts.
1973 – LNIMC (Lincoln National Investment Management Co.) is created, and the organization starts investment consultancy operations and managed mutual funds for Lincoln associates.
New business ventures: 1981—2005
1983 – LNC outdoes the landmark of US $100 billion of insurance effectively.
1987 – Lincoln National Corporation launches MoneyGuard®, a unique and ground-breaking universal life (UL) insurance brand with a benefit clause for long-standing care.
1996 – Lincoln Life & Annuity Company of New York commences operations in Syracuse, New York.
1998 – LNC launches its new promotional name “Lincoln Financial Group” for growing its acknowledgment as a financial services provider.
2001 – Creation of Lincoln Financial Distributors took place as the wholesale supply company of the Lincoln Financial Group.
2002 – Lincoln Financial Group obtains the nominating privileges to the new arena of the Philadelphia Eagles team, Lincoln Financial Field.
2005 – LFG observes its 100th birthday.
The 2nd century
2006 – A merger of Jefferson Pilot Financial takes place with Lincoln National Corporation, forming one of the biggest financial services providers in the country.
2008 – Commemorating the 2nd birth centenary of Abraham Lincoln, LFG bestows the Lincoln Museum Collection assessed at more than US $20 million to Indiana. The Collection comprises the Emancipation Proclamation, which is domiciled at the Indiana State Museum and Allen County Public Library in Indianapolis.
2013 – World Finance periodical ranks Lincoln Financial Group as the Best Life Insurance Company in the US.
2015 – LFG commemorates its 110th birthday of financial vigor, commitment, and facility to its clientele and the neighboring communities where it resides and functions.
2016 – LFG got the honor of the Best Life Insurance Company in 2015 in the US by World Finance journal.
How many employees work for LNC?
Lincoln Financial Group recruits around 9,000 employees.
Tie-Ups
Lincoln Financial Group is the distinguished patron of the National Forensic League and also the National Speech and Debate Tournament organized by the NFL.
Insurance copyright
Lincoln National Corporation is the proprietor of the United States Patent # 7,089,201, “process and setup for offering retirement earnings gains”. This copyright encompasses procedures for managing variable annuities. The company’s profitable goods that are addressed by this copyright incorporate the 4LaterSM Advantage and i4LIFE Advantage endowment plans.
In 2006 September, LNC sued Transamerica Life Insurance Company for copyright breach. Lincoln averred that Transamerica violated its insurance copyright. In October 2007, it made a related complaint versus Jackson National Life.
On 19 February 2009, a panel of judges ascertained that the Lincoln copyright was legitimate and breached by Transamerica and others. Evaluation of compensation took place at the “rational fee rate”. A decree was passed and Transamerica and others received an instruction to compensate US $13 million to Lincoln, or 0.11% of the resources valued at more than US $12 billion they possessed under supervision by merit of violating the copyright.
Lincoln National Corporation Management
Dennis R. Glass, President and CEO
Dennis R. Glass serves as the Chief Executive Officer and President of Lincoln National Corporation. Glass is also a director of the BoD for LNC. As the President of the organization, Dennis is a part of the board of the primary insurance ancillaries of Lincoln Financial Group.
From 2006 April till 2007 July, Dennis served as the Chief Operating Officer (COO) and President of Lincoln Financial Group. Earlier, he worked as the Chief Executive Officer and President of Jefferson Pilot Corporation, which in 2006 amalgamated with LFG. Before becoming a part of Jefferson Pilot Corporation in 1993, Dennis occupied managerial-level asset management and finance roles in the investment and insurance sectors.
Dennis presently acts as the Co-Chairman of the board of directors of the Alliance for Lifetime Income that is a non-profit-seeking establishment concentrated on generating consciousness and enlightening US citizens regarding the significance of protected lifetime earnings. Dennis has been a part of the Board of Directors of the ACLI (American Council of Life Insurers) and the Executive Committee of the council and presently is a part of various other ACLI teams. Dennis has been a member of other sector committees and has been dynamically involved in many public and benevolent campaigns.
Dennis is a University of Wisconsin-Milwaukee alumnus, where he attained a Bachelor of Arts degree and a Master of Business Administration degree.
Randal J. Freitag, FSA, MAAA
Freitag serves as the Chief Financial Officer, Executive Vice President, and Head of Individual Life of Lincoln Financial Group. In this position, Freitag offers managerial leadership to assets, business finance, business actuarial, business taxation, acquisition, appraisal, as well as investor relations. Furthermore, Randal functions intimately with higher-ranking leaders across the organization for devising plans to poise the establishment for the time to come.
Over and above his function as the CFO of Lincoln Financial Group, Randal took over supervision tasks for the organization’s Life Insurance trade in 2017 June.
Randal has acted in a variety of positions at Jefferson Pilot and Lincoln Financial Group after he became a part of the organization in 1995. In 2007, Freitag got the appointment of the Chief Risk Officer with comprehensive responsibilities for cash and wealth oversight, enterprise risk management, assets and equity risk management.
Before working as the Chief Risk Officer, Randal served as the Senior Vice President of profitability management and product risk for the individual annuities and life trades. His domains of responsibility incorporated equity risk and asset-liability (variable annuity hedging) management and financial management. Besides, Randal has functioned in the business actuarial domain where his task incorporated rating bureau affairs, mergers and acquisitions, and capital distribution. Before working for LNC, Randal occupied several actuarial positions.
Randal has a Bachelor’s degree from the University of Minnesota in Mathematics and is a Society of Actuaries associate.
Lincoln National Corporation Financial Performance
Third-quarter (Q3) 2021 results of Lincoln Financial Group (figures are in million US dollars, barring per share data)
The board of directors of LNC sanctioned upping the quarterly dividend for its common
stocks to US $0.45 per share. This dividend symbolizes a 7% hike on the previous-year extent. The hiked dividend on the common share will be allocated on 1st February 2022 to stockholders on document at the end of trade on 10th January 2022.
Lincoln National Corporation Stock Performance
The common stocks of Lincoln Financial Group are traded on the New York Stock Exchange with the ticker symbol LNC. Besides, it is a constituent of the Standard & Poor 500 index.
On December 3, 2021, Lincoln National Corporation (NYSE: LNC) closed trading at US $65.55 at 4:00 pm Eastern Standard Time (EST).
Lincoln National Corporation accolades and acknowledgment
Listed below are some of the accolades and honors won by LNC:
- One of the most dependable companies in the United States: Newsweek Magazine has nominated Lincoln Financial Group as one of the most creditworthy organizations in 2021 in the United States. This is the 2nd year that the ratings incorporated the robust company conduct of Lincoln National Corporation and clear reporting performances.
- Best Workplace for Disability Inclusion – For the 4th successive year, LNC achieved a 100% mark and also the recognition of Best Places to Work for Disability Inclusion, as laid down by the 2019 DEI (Disability Equality Index©).
- Accountable corporate activities – For over 10 decades, the company has observed the significance of business conduct as a means of bettering the lifestyle of various communities and authorizing every individual to lead a better life.
- Added Forbes Credit – For the 3rd successive year, the company got nominated as the Best Employer for Diversity. Lincoln National Corporation also holds the top 3rd position in the list released in 2020. The company enjoys positions on the list of the World’s Best Employer brought out by the periodical in 2019, a yearly rating of the two thousand biggest public companies in the world grounded on worker testimonials. Besides, Lincoln Financial Group has repeatedly obtained acknowledgment from Forbes as a Best Large Employer and a Best Employer for Women.
What is the viewpoint of Lincoln National Corporation?
The company believes in diversity and inclusion as necessary attributes to boost its capacity to deliver on its vow to assist clients to safeguard their economic futures.
Disclaimer: This case study is intended for academic purposes only and is not an investment consultation. So, after going through the financials of the research report, one must not make a hasty decision for any investment. Cautious handling of your finances is always a rational approach. Discussion with your advisor is a level-headed measure to tackle financial contingencies.
