v3.25.4
Statutory Information and Restrictions (Tables)
 12 Months Ended
Dec. 31, 2025
Insurance [Abstract]  
Statutory Financial Information
As of December 31,
20252024
U.S. capital and surplus$7,931 $7,306 

For the Years Ended December 31,
202520242023
U.S. net gain (loss) from operations, after-tax$(1,824)$(3,192)$(2,495)
U.S. net income (loss)(181)(2,283)(2,924)
U.S. cash dividends to LNC685 491 495 
Effects on Statutory Surplus Compared to NAIC Statutory Surplus
The favorable (unfavorable) effects on statutory surplus compared to NAIC statutory surplus from the use of these prescribed and permitted practices (in millions) were as follows:
As of December 31,
20252024
State Prescribed Practices
Calculation of reserves using the Indiana universal life method$(9)$(3)
Conservative valuation rate on certain annuities1 1 
Calculation of reserves using continuous CARVM1 1 
Conservative Reg 213 reserves on variable annuity and individual life contracts18 20 
State Permitted Practices
Derivative instruments and equity indexed reserves$(260)$(232)
Fixed income assets at book value259 – 
Assets in group fixed annuity contracts held at general account balances170 304 
Vermont Subsidiaries Permitted Practices
Lesser of LOC and XXX additional reserve as surplus$– $1,722 
LLC notes and variable value surplus notes1,192 1,320 
Excess of loss reinsurance agreements2,601 541