Lincoln Has Big Increase in Fixed Equity Indexed Annuities

With the help of big sales increases for both variable annuities and fixed equity indexed annuities, Lincoln Financial Group earned $56 million more in the first quarter of this year compared with the first quarter of last year.  Henry Steelman’s Annuity News Journal article, “Lincoln Financial Group Up 16 Percent From Last Year,” said that Lincoln had $339 million in net income for a 16% increase in the first quarter.  Their CEO Dennis Glass said their increase was due to strong sales and margins based partly on increasing equity markets and net flows.  Almost all of their divisions showed increases in the first quarter, which led to a gain of $.25 in the company’s earnings per share.  Their earnings per share went from $.83 to $1.08.  Annuities increased 16%, consolidated deposits increased 13%, and life insurance policies increased 12%.

Lincoln has more than $2.6 billion in annuity assets, which increased significantly by their strong sales of fixed equity indexed annuities and variable annuities in the past year.  Annuity sales increases have helped their stock price go up to $30.85, which is the highest it has ever been.  Lincoln’s annuity division had a 33% sales increase in 2010 from its sales in 2009.  A 26% increase in third quarter sales last year was another big reason for their strong 2010.  They were also able to repay the entire loan that they had received from the government after the economic crisis in 2008.  As annuity sales continue to drive Lincoln’s financial success, look for them to stay on an increasing sales and stock price path.

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