This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lincoln National Management Discusses Q2 2012 Results - Earnings Call Transcript

Let me now comment on underlying businesses. Life Insurance sales for the quarter were $128 million, down from a year ago. This decline was expected as we've continued to be a leader in implementing pricing actions that respond to the low-interest rate environment. We are committed to taking additional action if conditions require us to do so.

In addition to making pricing adjustments, we've also continued our pivot to higher-return, less-interest-rate-sensitive products. Second quarter sales of these products, which include Variable Universal Life, Indexed Universal Life and Term, were up 20% from the prior year quarter.

Moving forward, our ability to keep pivoting to these products will be driven by the breadth, depth and capability of our distribution teams.

Turning to the annuity business. We are also responding to low interest rates and market volatility by implementing product changes on our variable annuity platform, by expanding our Protected Funds solutions and by adding new distribution partners and strengthening relations within existing networks. You have heard me say this before, but we are pleased with where we are positioned in the industry. We maintain a consistent market presence, and we remain more interested in offering products on our terms, and we are focused on taking market share.

Positive net flows from the second quarter helped drive annuity account balances of $90 billion, up 2% from a year ago. We continue to see strong results from our Protected Funds series, as evidenced by 65% of June variable annuity purchasers opting for this solution. Our Protected Funds remain a good solution for consumers because they can lower the volatility of their returns and a good offering for Lincoln because they reduce our hedging costs.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs