Capital position strengthens as company issues subordinated debt
Holding company available liquidity, net of prefunding amounts, rose to $903 million during the quarter. Lincoln also completed a $500 million subordinated debt issuance, with proceeds earmarked to support the potential repurchase or redemption of outstanding preferred stock. Book value per common share, excluding accumulated other comprehensive income, rose to $77.39, while adjusted book value per share reached $79.45. The company’s overall unrealized loss position on available-for-sale securities narrowed to $8.5 billion pre-tax as of June 30, 2026, from $9.1 billion a year earlier, reflecting tighter credit spreads across its investment portfolio.