Lincoln Financial Group Announces Reinsurance Transaction With Resolution Life and Significant Capital Deployment
Lincoln National Corporation (LNC)
Last lincoln national corporation earnings: 2/5 04:15 pm
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US:NYSE Investor Relations:
lfg.com/public/aboutus/investorrelations&audience_page_id=1422918942386
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Source: Business Wire
Transaction will generate approximately $1.2 billion in capitalApproximately $900 million of proceeds to be used for incremental share repurchases and the remainder expected to be used primarily to pay down debt Transaction expected to be approximately 5% accretive to adjusted operating EPS RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE: LNC) today announced it has entered into an agreement with Security Life of Denver Insurance Company, a subsidiary of Resolution Life, to reinsure approximately $9.4 billion of in-force executive benefit and universal life reserves. The transaction will generate approximately $1.2 billion of capital. The proceeds will predominantly be used to fund incremental share repurchases of approximately $900 million that we expect to be completed by the end of the first quarter of 2022. The remaining proceeds will be used for general corporate uses, primarily paying down debt. The transaction is expected to be approximately 5% accretive to Linco
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Earnings
- 2/8/24 - Miss
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Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEFA14A
- 4/11/24 - Form DEF
- LNC's page on the SEC website