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Lincoln Financial Group Comments on Standard & Poor''s Ratings Action
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Copyright 2008 Insurance Weekly News via VerticalNews.com Insurance Weekly News
November 21, 2008
EXPANDED REPORTING; Pg. 39
357 words
LINCOLN FINANCIAL GROUP; Lincoln Financial Group Comments on Standard & Poor's Ratings Action
Lincoln Financial Group (NYSE:LNC) announced that Standard & Poor's ("S & P") affirmed its AA counterparty credit and financial strength ratings on The Lincoln National Life Insurance Company and Lincoln Life & Annuity Company of New York, and revised its outlook for the insurance subsidiaries from positive to stable.
Dennis R. Glass, president and CEO, commented, "We are pleased with the affirmation of the financial strength ratings for our major insurance subsidiaries. These ratings validate our commitment to meeting our obligations to policyholders. S & P's actions corroborate the strength of our business model and operating earnings, as well as our balanced investment portfolio, while recognizing the difficult market environment."
S & P also affirmed the A+ counterparty credit rating on Lincoln National Corporation and revised its outlook for the holding company from stable to negative, citing among other factors the challenging macro-economic outlook for the industry. The AA- counterparty and financial strength rating on First-Penn Pacific Company was also affirmed with a revised outlook to stable.
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $200 billion as of September 30, 2008. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Affiliates also include: Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; and Lincoln UK. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit http://www.lincolnfinancial.com/.
Keywords: Lincoln Financial Group.
This article was prepared by Insurance Weekly News editors from staff and other reports. Copyright 2008, Insurance Weekly News via VerticalNews.com.
November 12, 2008
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