Lincoln National

Lincoln National Corp. is among U.S. insurers that gained more than MetLife this year in New York trading. The Radnor, Pennsylvania-based company almost doubled since Dec. 31 by yesterday as it expanded variable-annuity sales.

Results at Lincoln, the No. 2 seller of the retirement products this year, are closely linked to rising stocks and higher rates. CEO Dennis Glass said today he’s seeking to diversify the company’s sources of earnings by adding more risks tied to lifespans to reduce volatility.

“In a rising market, derisking would actually be a headwind in terms of performance,” said Bhullar, who has a neutral rating on Lincoln and outperform for MetLife. “If market trends deteriorate, it should help the performance.”

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