A.M. Best Upgrades Financial Strength Rating of Lincoln Financial Group's Primary Insurance Subsidiary to A+ Superior.Business Editors PHILADELPHIA--(BUSINESS WIRE)--June 11, 2002 Lincoln National Corporation Lincoln National Corporation (NYSE: LNC) is a holding company, which operates multiple insurance and investment management businesses through subsidiary companies. LNC was organized under the laws of the state of Indiana in 1968, and maintains its principal executive offices (LNC LNC Legal Nurse Consultant LNC Libertarian National Committee LNC Low Noise Converter LNC Lloyd Noble Center (University of Oklahoma, Norman campus) LNC Local Node Clock LNC Chief Legalman (Naval Rating) ), the parent company of the Lincoln Financial Group of companies announced today that the Lincoln National Life Insurance Company and its subsidiaries, First Penn-Pacific Life Insurance Company and Lincoln Life and Annuity Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , have received an upgrade of their financial strength ratings from A.M. Best to A+ (Superior) from A (Excellent). The A+ rating is the second highest A.M. Best rating. "We are very proud to have the hard work of our employees recognized by the A.M. Best Company with a rating upgrade based on our improved fundamentals, especially during a time when rating downgrades have far exceeded upgrades," said Jon A. Boscia, Lincoln's chairman and chief executive officer. "Our ability to successfully narrow our focus on wealth accumulation and wealth protection businesses through a series of acquisitions, divestitures and business closings After advocating such measures for fifteen years, proponents of mandatory plant closing notification secured federal legislation in August 1988 with the Worker Adjustment and Retraining Notification Act, 100 P.L. 379. , while continuing to produce solid earnings and positive enterprise-wide net flows, were the primary factors behind this positive upgrade," he added. According to A.M. Best, Lincoln's execution of a strategic repositioning of its businesses over the past few years has contributed to its improved quality of earnings. Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE NYSE See: New York Stock Exchange :LNC) and its affiliates. With headquarters in Philadelphia, Lincoln Financial Group has consolidated assets of nearly $98 billion and had annual consolidated revenues of $6.4 billion in 2001. Through its wealth accumulation and protection businesses, the company provides annuities, life insurance, 401(k) plans, 529 plans, mutual funds, managed accounts, institutional investment and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against and advisory services. |
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