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NEW YORK, Oct 28 (Reuters) - Lincoln National Corp, a large U.S. life insurer, on Wednesday recorded a profit after posting losses in the past three quarters, helped by the rising stock market. Philadelphia-based Lincoln was hurt as investment losses and a surge in costs for stock market linked annuities took a heavy toll. But Lincoln's and the sector's fortunes have improved in recent months as investment values and stock markets began to rise. The company reported net income of $153 million, or 44 cents a share, compared with a profit of $148.4 million, or 58 cents a share, in the year-ago quarter. On an operating basis, Lincoln earned $275.5 million, or 84 cents a share, in the quarter compared with $297.8 million, or $1.16 a share a year ago. Along with Hartford Financial, Lincoln accepted funds from the U.S.
Treasury earlier this year, helping to shore up capital drained away by its recent losses. Lincoln's shares fell 5.6 percent to $22.25 in the regular session, and climbed about 18 cents in late trading. (Reporting by Elinor Comlay and Lilla Zuill) Keywords: LINCOLNNATIONAL/ (elinor.comlay@thomsonreuters.com; +1 646 223 6116) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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