Life insurer Lincoln National Corp., with operations in Hartford, posted a quarterly operating profit that beat market estimates, helped by higher life insurance sales, Reuters reports.
The Philadelphia company, also known as Lincoln Financial Group, said second-quarter net income rose to $325 million, or $1.01 a share, from $255 million, or 33 cents a share, a year ago.
On an operating basis, the company earned $1.09 a share.
Analysts had expected the company to earn 94 cents a share, according to Thomson Reuters I/B/E/S.
Life insurance sales rose 12 percent to $157 million during the quarter.
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During the quarter the life insurer bought back 5.1 million shares for $150 million.
