On April 3, Lincoln National Corporation completed a merger with Jefferson-Pilot Corporation. The merged company will operate under the name Lincoln Financial Group and will be listed on the New York Stock Exchange as LNC.
The product lines of the companies will remain distinct during 2006 and will be combined in 2007. The purpose of the merger was to combine the strengths of both companies to create a product portfolio of fixed and variable universal life, fixed and equity indexed annuities, variable annuities, 401(k) and 403(b) offerings, and group life, disability, and dental insurance products, according to a statement from the company.
"Lincoln Financial now has superior size and scale, a comprehensive and balanced product portfolio, greater distribution penetration and geographic, market and earnings diversity. In short, the company is extremely well-positioned for even greater growth in the financial services marketplace," said Jon Boscia, chairman and CEO of Lincoln Financial Group, in a statement.