74/ 100
Capital adequacy — cross-regime normalized
Strong
Reported under US RBC — normalized to a common 0–100 band so US, Canadian and European insurers compare like-for-like. Open methodology; see sourcing below.
Capital & Solvency
| Capital adequacy (normalized) | Strong (74/100) |
| RBC ratio | 420% |
| Statutory surplus | $8.0B |
| Total adjusted capital | $10.8B |
| Prism ratio (avail/target) | 2.90x |
| Regulatory action level | none |
Curated from public statutory filings (point-in-time). Live refresh pending.
Financial Strength Ratings
| AM BEST | A | Negative |
| SP | BBB | Negative |
| MOODYS | Baa2 | Negative |
| FITCH | A- | Negative |
| Composite | AA | 66/100 |
Curated public rating actions, late-2024/2025.
Reinsurance & capital structurehow reserve risk is financed
Lincoln National Corp. discloses 7 affiliated reinsurance captives (Vermont, Barbados, Bermuda); it also cedes externally to Fortitude Reinsurance Company Ltd., Protective Life Insurance Company, Security Life of Denver Insurance Company ("Resolution Life"). Its capital adequacy is Strong (74/100, RBC 420%). Affiliated captives are a common reserve-financing tool (e.g. XXX/AXXX term- and universal-life reserves); read capital strength alongside how much reserve risk is financed through these vehicles.
Affiliated reinsurance captives
7
Vermont · 5Barbados · 1Bermuda · 1
Cedes externally to
Fortitude Reinsurance Company Ltd.Protective Life Insurance CompanySecurity Life of Denver Insurance Company ("Resolution Life")Commonwealth Annuity and Life Insurance CompanySwiss Re Life & Health America, Inc.Scottish Re
Affiliated captives from the Exhibit 21 entity list; external cedants from the firm's counterparty map; capital from public statutory/regulatory filings. Indicative.