Overview
Lincoln National Corp. is a holding company based in Radnor, Pa., for a group of insurance and investment-management businesses. Their offerings include institutional and retail fixed and indexed annuities, variable annuities, universal life insurance, variable universal life insurance, term life insurance, mutual funds and managed accounts. The company, which uses Lincoln Financial Group as its marketing name, is one of the largest insurers in the U.S. and was the fifth biggest issuer of variable annuities in 2008 and among the top sellers of life insurance. Lincoln Financial Field is the home of professional football's Philadelphia Eagles.
Like other insurers, Lincoln has suffered from concerns about its liquidity. The company has received approval from state regulators for about $300 million in relief, easing capital requirements to allow for more breathing room, and has embarked on a cost-cutting campaign to save about $250 million. In 2009, it acquired Newton County Loan & Savings FSB and received approval for a savings and loan charter, which allows the company to qualify for Treasury Department funds. Lincoln took $950 million of the government's approved $2.5 billion while raising about $1.2 billion on its own, according to The Wall Street Journal.