Lincoln National Logs Record Q4 2025 Operating Income, Eyes Share Repurchases

LNCLNC

Lincoln National recorded a record operating income in Q4 2025, driven by strength in its life insurance and retirement solutions segments. Management emphasized using excess capital for share repurchases and strategic investments to support future growth.

1. Q4 2025 Earnings Highlights

Lincoln National achieved its highest-ever quarterly operating income in Q4 2025, with gains attributed to robust underwriting results in life insurance and stronger returns in retirement solutions. Management noted that improved mortality experience and fee income expansion contributed significantly to the outperformance.

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