Lincoln Financial Group Announces Stream Reinsurance Transaction with Talcott Resolution | Business

RADNOR, Pa .– (BUSINESS WIRE) – Sep 23, 2021–

Lincoln Financial Group (NYSE: LNC) today announced that it has entered into an agreement with Talcott Resolution Life Insurance Company to reinsure up to $ 1.5 billion in sales of Lincoln’s main variable annuity rider. The transaction covers business issued from April 1, 2021 to June 30, 2022.

“Recent industry transactions reflect an active reinsurance market with attractive pricing, and we are extremely pleased to announce this flow reinsurance deal in the wake of the life block transaction we announced last week,” said Dennis R. Glass, President and CEO of Lincoln. Financial group. “This transaction is another example of how we are using creative solutions, such as bulk and flow transactions in our operations, to maximize value for our shareholders. “

“We are delighted to enter this relationship with Talcott and will continue to explore opportunities to develop this partnership,” said Ellen Cooper, Executive Vice President, Chief Investment Officer, Head of Enterprise Risk and Annuity Solutions. of Lincoln Financial Group. “This transaction is in line with our strategy to continue to develop the variable annuity business while maintaining a good mix of sales with and without long-term guarantees. The terms of the reinsurance transaction are consistent with our rigorous pricing of new business while improving the return on retained business. “

Pursuant to the reinsurance agreement, Lincoln Financial will retain the administration of accounts and record keeping of the annuity policies. Lincoln Financial will cede $ 1.5 billion in living benefit riders, but will retain 100% of the cash flow of the base contract. The transaction will have no impact on Lincoln Financial’s relationship with, or commitments to, its distribution partners and policyholders. Additionally, Lincoln Financial remains focused on the continued growth of its variable annuity business, with plans to introduce new products and further expand distribution to achieve successful long-term growth.

The transaction is dated September 17, 2021 and is structured as a coinsurance treaty with a comfort trust to mitigate counterparty credit risk.

About Lincoln Financial Group

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million clients trust our expertise in retirement, insurance and wealth protection to help them achieve their lifestyle, savings and income goals, and protect themselves. against long-term care expenses. Based in Radnor, Pa., Lincoln Financial Group is the trading name of Lincoln National Corporation (NYSE: LNC) and its subsidiaries. The company had $ 324 billion in account values ​​as of June 30, 2021. Lincoln Financial Group is a committed corporate citizen included in major sustainability indices, including the Dow Jones Sustainability Index North America and FTSE4Good. Dedicated to diversity and inclusion, we have achieved 100 percent perfect scores on the Corporate Equality Index and the Disability Equality Index, and we rank among the top Forbes’ Top Large Employers and Top Employers for Women, and Newsweek The most responsible companies. For more information: Follow us on Facebook, Twitter, LinkedIn and Instagram. Sign up to receive email alerts at

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SOURCE: Lincoln Financial Group

Copyright Business Wire 2021.

PUB: 23/09/2021 08: 00 / DISC: 23/09/2021 08:02

Copyright Business Wire 2021.

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