Woodroffe Sean sold $498K of LNC

Lincoln National (LNC) said CFO Chris Neczypor will leave and Adam Cohen will serve as interim CFO. The company plans to resume share repurchases next quarter under its existing $1.5 billion authorization. The leadership change and capital return plan were announced together, with buybacks expected to restart in Q3 2026.

Lincoln Financial said CFO Chris Neczypor left to pursue a non-insurance role. Adam Cohen, previously chief accounting officer, became interim CFO immediately. The change follows other 2026 senior exits. Despite leadership turnover, Lincoln reported eight straight quarters of adjusted operating income growth, a $5.8B reinsurance deal, and a $0.45 dividend, with share repurchases planned.

Lincoln Financial reported Q2 2026 net income of $1.3 billion versus a $699 million net loss a year earlier. Adjusted operating income was $439 million. Annuities operating income was $287 million, with ending account balances of $182 billion. Retirement Plan Services operating income rose 32% to $49 million despite $2.4 billion net outflows. Group Protection operating income was $147 million.

Lincoln Financial reported Q2 2026 net income available to common stockholders of $1.3 billion, or $6.72 per diluted share. Adjusted operating income was $439 million, or $2.24 per diluted share. Annuities operating income was $287 million and ending account balances reached a record $182 billion. The company also issued $500 million subordinated debt.

Lincoln Financial Group (NYSE:LNC) has entered a reinsurance agreement with Talcott Financial Group covering a large portion of its guaranteed universal life portfolio. The deal transfers US$5.8b of in force guaranteed universal life reserves, which represents about 37% of Lincoln Financial's remaining GUL block. The transaction is intended to reduce exposure to capital intensive legacy policies and adjust future subsidiary cash remittances.

Lincoln National (LNC) reported Q2 2026 earnings call highlights. Annuity net outflows were about $2.9B, and Retirement Plan Services net outflows were $2.4B. Alternative investment returns were below target at 4.9%, a $39M headwind. CFO said a GUL reinsurance deal should add $30M to $40M annual free cash flow. LNC discussed repurchase authorization and Q3 earnings baseline of $57M.