Lincoln Financial To Cede ~$5.8B Of In-Force Guaranteed Universal Life Statutory Reserves To Talcott Financial; Will Also Reinsure ~$500M Of Funding Agreement Business With Talcott

Lincoln National Corp

Lincoln National Corp

LNC

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  • Risk transfer transaction encompassing approximately 37% of Lincoln’s remaining in-force guaranteed universal life ("GUL") block
  • Further reduces Lincoln’s exposure to long-term mortality, lapse, and interest rate risk on a legacy, capital-intensive block
  • Represents an all-in statutory capital impact of approximately $200 million
  • Strengthens free cash flow1 and shareholder value, with an expected $30–$40 million increase in annual subsidiary remittances over the medium term
  • Advances our strategy to shift our liability mix and grow sustainable free cash flow while improving risk-adjusted returns on capital and reducing earnings volatility.
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