Lincoln National Corporation: Lincoln's $9.4 billion life reinsurance transaction is credit negative
Lincoln's life reinsurance deal with Resolution is a credit negative for Lincoln because it will give up a low-risk life block and use most of the released capital for share repurchases.Lincoln National operates multiple insurance and retirement businesses through its subsidiary companies. The company provides products and services through four segments as follows: Annuities, which provides tax-deferred investment growth and lifetime income opportunities for its clients by providing variable annuities, fixed annuities and indexed variable annuities; Retirement Plan Services, which provides employers with retirement plan products and services, primarily in the defined contribution retirement plan marketplace; Life Insurance, which focuses on the creation and protection of wealth for its clients; and Group Protection, which provides group non-medical insurance products.
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