secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL CORP (LNC)
CIK:        0000059558
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001564590-23-006854
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln cedes $28B in reserves to Fortitude Re; preliminary Q1 net loss up to $919M
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- Cedes ~$28B in ULSG, MoneyGuard, fixed annuity reserves; expected close Q2 2023, effective Apr 1.
- Transaction expected to improve RBC ratio by ~15 points and add >$100M annual free cash flow.
- GAAP quarterly dilution of ($35-40)M; Q1 Life Insurance operating loss ($8-23)M.
- Preliminary Q1 net loss ($904-919)M or ($5.34-5.43)/diluted share; adjusted ops income $250-265M.
- Estimated Q1 RBC ratio 377-380% (flat YoY); 2023 distributable earnings outlook unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/59558/000156459023006854/0001564590-23-006854-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/59558/000156459023006854/lnc-8k_20230502.htm
  HTML page:      https://secwatch.observer/filing/0001564590-23-006854

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