Close Close

Portfolio > Alternative Investments > Real Estate

Lincoln Increases Net Income Despite Flat Revenue

Your article was successfully shared with the contacts you provided.

Real estate and tax accounting were bright spots for Lincoln National Corp. during the second quarter.[@@]

Lincoln, Philadelphia, is reporting $198 million in net income for the second quarter on $1.4 billion in revenue, up from $187 million in net income on $1.4 billion in revenue for the second quarter of 2004.

Although life operating income plateaued at $76 million, first-year retail premium revenue for variable universal life was up 34%.

Retirement unit income increased to $119 million, from $102 million.

But the second-quarter results also included a favorable tax adjustment.

In addition, “the second quarter was impacted by a better than expected performance in Lincoln’s alternative investments, specifically partnership income and fees earned from its standby real estate equity commitment program,” Lincoln says in a discussion of its results.