Philadelphia’s Lincoln Financial Group, with Hartford operations, was saddled with life insurance writedowns and landed in the red in the fourth quarter.
For three months ended Dec. 31, Lincoln lost $514 million, or $1.73 a fully diluted share, compared to net income of $196 million, or 60 cents a share, a year ago.
For the full year, Lincoln netted $290 million, or 92 cents a fully diluted share, down from $812 million, or $2.54 a share, netted in 2010.
Known more formally as Lincoln National Corp., it sells individual annuities, life insurance and retirement plans.
