Lincoln Financial announces CFO transition plan. Radnor-based Lincoln Financial announced that it will conduct a search to replace outgoing chief financial officer Chris Neczypor. Neczypor announced his decision to leave the company recently. Neczypor will remain with Lincoln through the end of the month, as Adam Cohen, senior vice president, chief accounting officer and treasurer steps in as interim CFO. Lincoln said it would be considering both internal and external candidates. "Chris has been an excellent leader during a critical period for Lincoln," Ellen Cooper, Chairman, president and CEO, said. "His judgment, strategic perspective and deep financial expertise have been important to Lincoln over the past three years. The progress we have made reflects the collective efforts of an exceptional team, and Chris has played a key role in helping advance our transformation. I am grateful for his many contributions and wish him every success." Cohen has been the company's chief accounting officer since 2022, and took over responsibility for treasury in 2024. He also oversees enterprise expense management and fixed income investor relations. Prior to that role, he led the company's investor relations. Before joining Lincoln, he served as CFO of Archwell and spent 13 years with EY in insurance audit and advisory roles. He holds an MBA from the Wharton School of the University of Pennsylvania, a Master of Science in Accounting from the University of Virginia and a Bachelor of Science in Business Administration from Bucknell University. "Adam is a strong, well-respected leader who brings deep command of our businesses and products," Cooper said. "As chief accounting officer, he has excelled at strengthening our financial controls and driving expense discipline across the enterprise. As Treasurer, he developed and oversees our funding agreement program and brings deep experience in capital markets. That skill set makes him exceptionally well prepared to head our finance organization while we complete our search."

Lincoln National Q2 earnings call highlights. July 31, 2026 Key points. * Lincoln National reported solid second-quarter results, with adjusted operating income rising 3% year over year to $439 million, or $2.24 per share - the company's eighth consecutive quarter of annual earnings growth. Net income reached $1.3 billion, aided by favorable market risk benefit changes. * The company agreed to reinsure approximately $5.8 billion of guaranteed universal life reserves and $500 million of funding agreement business with a Talcott subsidiary. The transaction is expected to reduce long-term risk, increase annual free cash flow by $30 million to $40 million, and bring roughly 60% of Lincoln's guaranteed universal life block under reinsurance once completed. * Retirement Plan Services and Life Insurance improved, with operating income increasing 32% and 78%, respectively, while Annuities income was flat and Group Protection declined. Lincoln maintained strong capital levels, with its RBC ratio above target, and prefunded the potential repurchase or redemption of half of its preferred stock callable next year. * MarketBeat previews top five stocks to own in August. Lincoln National NYSE: LNC reported second-quarter adjusted operating income available to common stockholders of $439 million, or $2.24 per diluted share, as the insurer posted its eighth consecutive quarter of year-over-year adjusted operating earnings growth. Adjusted operating income rose 3% from a year earlier. Net income available to common stockholders was $1.3 billion, or $6.72 per diluted share, with the difference from adjusted operating income driven primarily by favorable changes in market risk benefits amid higher equity markets and interest rates. Alongside its quarterly results, Lincoln announced an agreement with a Talcott Financial Group subsidiary to reinsure a legacy block of guaranteed universal life business. The transaction is expected to close in the fourth quarter, subject to regulatory approvals. Legacy life reinsurance deal targets risk and cash flow. Under the agreement, Lincoln will cede approximately $5.8 billion of in-force guaranteed universal life statutory reserves, representing about 37% of its remaining guaranteed universal life block, along with roughly $500 million of funding agreement business. The deal is structured partly as coinsurance with funds withheld and partly as modified coinsurance, according to Chief Financial Officer Chris Neczypor. Combined with Lincoln's 2023 transaction with Fortitude Re, about 60% of Lincoln's total in-force guaranteed universal life business will be reinsured after the Talcott transaction closes. "Guaranteed Universal Life is among the most capital-intensive, long-tailed parts of our in-force," Neczypor said, adding that the transaction is intended to reduce exposure to long-term mortality, lapse and interest-rate risks. Lincoln expects the transaction to have an all-in statutory capital impact of approximately $200 million, or about 10 RBC percentage points. The company plans to fund that impact with a portion of remaining proceeds from its 2025 Bain Capital transaction and expects to remain meaningfully above its 420% RBC ratio buffer after closing. The insurer expects the transaction to increase annual free cash flow by approximately $30 million to $40 million. It expects a reduction in GAAP net income through amortization of a deferred loss, but no material change to adjusted operating income. Beginning in the fourth quarter, Lincoln plans to refine its adjusted operating income definition to exclude amortization of deferred gains and losses on blocks exited through reinsurance. Segment results: life and Retirement Plan Services improve. Group Protection reported operating income of $147 million, compared with a record $173 million in the prior-year quarter. The segment's margin was 10.4%, down 210 basis points year over year. Excluding a $15 million prior-year annual experience refund tied to one state's paid family leave program, earnings declined $11 million as favorable group life mortality was more than offset by moderation in disability results. Discover more AI Stocks Report Lincoln said it expects Group Protection to deliver a full-year margin within its targeted 8% to 9% range. Supplemental health premiums increased 28% year over year, while local-market premiums rose more than 3%. Annuities operating income was $287 million, flat from the prior-year quarter and up $12 million sequentially. Higher average account balances and spread income were offset year over year by the company's reallocation of net investment income related to index-credit hedging collateral to non-operating income. Total annuity sales were $3.5 billion, with spread-based products accounting for 63% of sales. Registered index-linked annuity sales rose 10% from a year earlier, while variable annuity sales without living-benefit guarantees increased more than 60% and exceeded sales of variable annuities with guarantees for the first time, according to Chief Executive Officer Ellen Cooper. Average annuity account balances, net of reinsurance, were approximately $179 billion, up 12% from a year earlier. Net outflows totaled about $2.9 billion, driven largely by traditional variable annuities. Retirement Plan Services operating income rose 32% to $49 million. The unit benefited from higher equity markets, higher average account balances and spread expansion. Average account balances grew about 15% to $128 billion, while net outflows of approximately $2.4 billion reflected three large plan sponsor terminations that did not meet Lincoln's profitability thresholds. Life insurance operating income increased to $57 million from $32 million a year earlier, helped by favorable mortality and the benefit of a fourth-quarter captive consolidation. Lower alternative investment returns partially offset those gains. Alternative investments generated an annualized return of 4.9%, below Lincoln's 10% target, creating an approximately $39 million headwind for the life segment. Capital position and preferred stock plans. Lincoln said it prefunded the repurchase and/or redemption of half of the preferred stock that becomes callable next year. During the quarter, the company issued $500 million of hybrid securities and ended the period with approximately $900 million of holding-company cash net of prefunding, up about $100 million from the first quarter. Operating subsidiaries remitted $310 million during the quarter, bringing year-to-date remittances to $580 million. Neczypor said Lincoln continues to expect full-year subsidiary remittances of approximately $1.2 billion to $1.3 billion. The company's estimated RBC ratio remained above its 400% target and 20-point buffer, while its leverage ratio was about 25%, in line with its long-term target. Lincoln has an existing $1.5 billion share repurchase authorization, with more than $700 million remaining, although the program has been dormant since 2022. Neczypor said the board recently reconfirmed the authorization but the company was not announcing timing for any repurchases. About Lincoln National (NYSE:LNC). Lincoln National Corporation, doing business as Lincoln Financial Group, is a diversified financial services holding company focused on providing retirement, insurance, and wealth management solutions in the United States and select international markets. Headquartered in Radnor, Pennsylvania, the company operates through several business segments, including Retirement Plan Services, Life Insurance, and Group Protection. Its offerings are designed to help individuals, families, and institutions plan and prepare for their financial futures. The Retirement Plan Services segment delivers recordkeeping, administrative services, and investment management for defined contribution and defined benefit plans. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Lincoln National, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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