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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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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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[
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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[
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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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 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 Lincoln or its
subsidiaries, and the outcome of any legal or regulatory proceedings, such
as: (a) adverse actions related to present or past business practices
common in businesses in which Lincoln and its subsidiaries compete; (b)
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; (c) new decisions that result in changes in
law; and (d) unexpected trial court
rulings;
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·
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Changes
in interest rates causing a reduction of investment income, the margins of
Lincoln's fixed annuity and life insurance businesses and demand for
Lincoln's products;
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·
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A
decline in the equity markets causing a reduction in the sales of
Lincoln's products, a reduction of asset-based fees that Lincoln charges
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 Lincoln's variable
annuity products;
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·
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Ineffectiveness
of Lincoln's 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 Lincoln's
assumptions used in pricing its 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, including as a
result of investor-owned life insurance
business;
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·
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Changes
in GAAP that may result in unanticipated changes to Lincoln's net income,
including the impact of Statement of Financial Accounting Standards No.
157, "Fair Value Measurements," and SFAS No. 159, "The Fair Value Option
for Financial Assets and Financial
Liabilities;"
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·
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Lowering
of one or more of Lincoln's debt ratings issued by nationally recognized
statistical rating organizations and the adverse impact such action may
have on Lincoln's 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 Lincoln's
insurance subsidiaries and the adverse impact such action may have on the
premium writings, policy retention and profitability of its 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
Lincoln's companies requiring that Lincoln realize losses on such
investments;
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·
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The
impact of acquisitions and divestitures, restructurings, product
withdrawals and other unusual items, including Lincoln's ability to
integrate acquisitions and to obtain the anticipated results and synergies
from acquisitions, including Lincoln's ability to successfully integrate
Jefferson-Pilot's businesses, to achieve the expected synergies from the
merger or to achieve such synergies within our expected
timeframe;
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·
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The
adequacy and collectibility of reinsurance that Lincoln has
purchased;
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·
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Acts
of terrorism, war or other man-made and natural catastrophes that may
adversely affect Lincoln's businesses and the cost and availability of
reinsurance;
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·
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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 Lincoln can charge for its
products;
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·
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The
unknown impact on Lincoln's business resulting from changes in the
demographics of Lincoln's client base, as aging baby-boomers move from the
asset-accumulation stage to the asset-distribution stage of
life;
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·
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Loss
of key management, portfolio managers in the Investment Management
segment, financial planners or
wholesalers;
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·
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Changes
in general economic or business conditions, both domestic and foreign,
that may be less favorable than expected and may affect foreign exchange
rates, premium levels, claims experience, the level of pension benefit
costs and funding and investment results;
and
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·
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Continued
economic declines and credit market volatility that could cause us to
realize additional impairments on investments and certain intangible
assets and dampen future earnings.
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(c)
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Exhibits.
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Exhibit
Number
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Description
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99.1
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99.2
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LINCOLN
NATIONAL CORPORATION
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By
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/s/ Douglas N.
Miller
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Name:
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Douglas
N. Miller
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Title:
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Vice
President and
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Chief
Accounting Officer
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Exhibit
Number
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Description
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99.1
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99.2
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