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VA Gains Help Lincoln Net Income

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NU Online News Service, Feb. 9, 2004, 6:13 p.m. EST – Strong variable annuity sales helped Lincoln National Corp., Philadelphia, increase its profits in the fourth quarter of 2003.[@@]

The company is reporting $194.3 million in net income for the latest quarter on $1.7 billion in revenue, up from $51 million in net income on $1.2 billion in revenue for the fourth quarter of 2002.

Gross variable annuity deposits increased to $31.7 billion at the end of the quarter, from $25.9 billion a year earlier.

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