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Lincoln National Shares Up On Reinsurance Deal With Resolution Life

Shares of Lincoln Financial Group (LNC) are rising over 3% Friday morning, after the company announced an agreement with Security Life of Denver Insurance Co., a subsidiary of Resolution Life, to reinsure about $9.4 billion of in-force executive benefit and universal life reserves.

The company noted that the transaction, which would generate about $1.2 billion of capital, is expected to be about 5% accretive to Lincoln Financial's adjusted operating earnings per share and expand ROE in 2022.

The stock, which has been trading between $29.42 and $71.68 for the past one year, is currently trading at $68.83, up $2.25 or 3.38%. Trading volume is over 757K versus an average volume of 1.28 million shares.

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