Lincoln Financial Group has posted net income of $239m, or $0.86 per diluted share for the first quarter of 2013, compared to of $243m, or $0.82 per diluted share during the same period prior year.
For the quarter period ended on 31 March 2013, its income from operations stood at $285m, or $1.02 per diluted share, against $293m, or $0.99 per diluted share, during the comparable period last year.
Lincoln Financial Group president and CEO Dennis R Glass said that the results in the quarter continued to reflect the successful execution of its product strategy as its distribution strength led to sales growth across all businesses.
The Annuities segment posted income from operations of $159m in the first quarter of 2013, with an increase of 16% compared to $137m during the corresponding period earlier year.
Retirement Plan Services segment reported income from operations remained flat to $35m, while Life Insurance segment income from operations stood at $112m, versus $139m in the prior-year quarter.
For the first quarter, its Group Protection segment income from operations stood at $14m, compared to $16m in the prior-year period.
With headquarters in Philadelphia, the companies of Lincoln Financial Group had assets under management of $186bn as of 31 March 2013, and provide annuities, life, group life, disability and dental insurance; 401(k) and 403(b) plans; savings plans, through its affiliated companies.
