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Indiana
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1-6028
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35-1140070
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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·
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Deterioration
in general economic and business conditions, both domestic and foreign,
that may affect foreign exchange rates, premium levels, claims experience,
the level of pension benefit costs and funding and investment
results;
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·
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Future
economic declines and credit market illiquidity could cause us to realize
additional impairments on investments and certain intangible assets,
including goodwill and a valuation allowance against deferred tax assets,
which may reduce future earnings and/or affect its financial condition and
ability to raise additional capital or refinance existing debt as it
matures;
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·
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Uncertainty
about the impact of the U.S. Treasury's Troubled Asset Relief Program on
the economy;
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·
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The
cost and other consequences of our participation in the
Capital Purchase Program, including the impact of existing and
future regulations to which we may become
subject;
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·
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Legislative,
regulatory or tax changes, both domestic and foreign, that affect the cost
of, or demand for, Lincoln's products, the required amount of reserves
and/or surplus, or otherwise affect our ability to conduct business,
including changes to statutory reserves and/or risk-based capital
requirements related to secondary guarantees under universal life and
variable annuity products such as Actuarial Guideline 43 also known as
VACARVM; restrictions on revenue sharing and 12b-1 payments; and the
potential for U.S. Federal tax
reform;
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·
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The
initiation of legal or regulatory proceedings against us, and the outcome
of any legal or regulatory proceedings, such as: adverse
actions related to present or past business practices common in businesses
in which we compete; adverse decisions in significant actions including,
but not limited to, actions brought by federal and state authorities and
extra-contractual and class action damage cases; new decisions that result
in changes in law; and unexpected trial court
rulings;
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·
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Changes
in interest rates causing a reduction of investment income, the margins on
our fixed annuity and life insurance businesses and demand for our
products;
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·
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A
decline in the equity markets causing a reduction in the sales of our
products, a reduction of asset-based fees that we charge on various
investment and insurance products, an acceleration of amortization of
deferred acquisition costs, value of business acquired, deferred sales
inducements and deferred front-end loads and an increase in liabilities
related to guaranteed benefit features of our variable annuity
products;
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·
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Ineffectiveness
of our various hedging strategies used to offset the impact of changes in
the value of liabilities due to changes in the level and volatility of the
equity markets and interest rates;
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·
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A
deviation in actual experience regarding future persistency, mortality,
morbidity, interest rates or equity market returns from the assumptions
used in pricing our products, in establishing related insurance reserves
and in the amortization of intangibles that may result in an increase in
reserves and a decrease in net
income;
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·
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Changes
in GAAP that may result in unanticipated changes to our net
income;
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·
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Lowering
of one or more of our debt ratings issued by nationally recognized
statistical rating organizations and the adverse impact such action may
have on our ability to raise capital and on its liquidity and financial
condition;
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·
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Lowering
of one or more of the insurer financial strength ratings of our insurance
subsidiaries and the adverse impact such action may have on the premium
writings, policy retention, profitability and liquidity of our insurance
subsidiaries;
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·
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Significant
credit, accounting, fraud or corporate governance issues that may
adversely affect the value of certain investments in the portfolios of our
companies requiring that we realize losses on such
investments;
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The
impact of acquisitions and divestitures, restructurings, product
withdrawals and other unusual items, including our ability to integrate
acquisitions and to obtain the anticipated results and synergies from
acquisitions;
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The
adequacy and collectibility of reinsurance that we have
purchased;
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Acts
of terrorism, a pandemic, war or other man-made and natural catastrophes
that may adversely affect our businesses and the cost and availability of
reinsurance;
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Competitive
conditions, including pricing pressures, new product offerings and the
emergence of new competitors, that may affect the level of premiums and
fees that we can charge for our
products;
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The
unknown impact on our business resulting from changes in the demographics
of our client base, as aging baby-boomers move from the asset-accumulation
stage to the asset-distribution stage of life;
and
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·
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Loss
of key management, financial planners or
wholesalers.
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Item
9.01.
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Financial
Statements and Exhibits.
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(d)
Exhibits.
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Exhibit
Number
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Description
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99.1
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LINCOLN
NATIONAL CORPORATION
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By
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/s/ Frederick J.
Crawford
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Name:
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Frederick
J. Crawford
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Title:
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Executive
Vice President and
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Chief
Financial Officer
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Exhibit
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Number
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Description
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99.1
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