secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL LIFE INSURANCE CO /IN/ (—)
CIK:        0000726865
Form:       8-K
Filed at:   2023-03-27T23:59:59+00:00
Accession:  0001193125-23-080609
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 4.02
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln National Life Insurance restates 2021-2022 financials on reinsurance gain timing error
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- Board determined prior audited financials for 2021, 2022 and Q1-Q3 2022 should no longer be relied upon.
- Error: a deferred gain from a 2021 reinsurance deal with Resolution Life should have been recognized as a one-time realized gain at asset transfer.
- Restatement will not impact distributable earnings, free cash flow, statutory filings, or risk-based capital ratio.
- Company plans to file restated financials on Form 10-K/A promptly.
- Other reinsurance transactions and previously reported capital generated from the deal are unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/726865/000119312523080609/0001193125-23-080609-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/726865/000119312523080609/d463711d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-080609

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