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Lincoln Financial records third quarter income rise

Revenue for the third quarter was $2.61bn.

Lincoln Financial Group has reported net income available to common stockholders of $245m, or $0.75 per diluted share, for the third quarter of 2010, compared to $137m, or $0.44 per diluted share, for the same quarter of the previous year.

Revenue for the third quarter of the 2010 was $2.61bn, compared to $2.08bn for the same quarter of 2009.

Life Insurance income from operations was reported $60m for the third quarter of 2010, compared to $137m in the third quarter of 2009.

The Individual Annuities segment reported income from operations of $126m in the third quarter of 2010 versus income from operations of $95m in the year-ago period, reflecting a 14% increase in the average annuity account values.

The third quarter income from operations was $206m, or $0.63 per diluted share available to common stockholders, compared to $276m, or $0.84 per diluted share, in the third quarter of 2009.

Consolidated deposits of $5.5bn up 4% compared to the prior-year quarter driving consolidated net flows of $1.7bn in the period.

Lincoln Financial president and CEO Dennis Glass said, in the quarter the company saw good indicators of growth continuing including strong double-digit growth in retirement deposits and net flows driving half of the year-over-year increase in total account balances.