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Lincoln Financial posts $402m income in Q3

Lincoln Financial has registered a net income of $402m, or $1.41 per diluted share, for the third quarter of 2012, from $153m, or $0.47 per diluted share during the same period last fiscal.

Third quarter income from operations stood at $335m, or $1.18 per diluted share, compared to $329m, or $1.03 per diluted share, during the comparable period earlier year.

Lincoln Financial Group president and CEO Dennis Glass said that the positive third quarter results represent company efforts to increase earnings per share and return on equity.

"We are aggressively investing to further build our franchise, while at the same time maintaining our balance sheet strength and flexibility," Glass said.

The Annuities segment income from operations declined by 9% to $139m, compared to $153m, while the Retirement plan services posted income from operations of $29m, down by 25.6% from $39m in the prior-year quarter.

Life Insurance income from operations remain unchanged from last year, which was $154m, while Group Protection income from operations was $16m, with a decrease of 40.7% against $27m in the prior-year period.

Headquartered in the Philadelphia, the companies of Lincoln Financial Group had assets under management of $174bn, as of 30 September 2012.

The company through its affiliated firms, provides annuities; life, group life, disability and dental insurance, 401(k) and 403(b) plans, savings plans, and comprehensive financial planning and advisory services.