Bain Capital investment
2025
Lincoln National Corporation
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Acquisitions
2
Total Acquisitions
2025
1999
Lincoln is focused on strengthening capital, growing spread-based earnings, improving portfolio management, optimizing legacy life blocks, investing in digital and data capabilities, and deepening distribution relationships.
Lincoln makes money by selling annuities, life insurance, group protection benefits, and retirement plan services. It collects premiums and fees, invests general-account assets, earns spreads, and manages insurance liabilities through underwriting, hedging, reserves, and reinsurance.