Lincoln National Corporation (LNC) is a holding company engaged in multiple insurance and investment management businesses through its subsidiaries. The primary operating subsidiaries that comprise LNC are Lincoln National Life Insurance Company (LNL), First Penn-Pacific Life Insurance Company, Lincoln Life & Annuity Company of New York, Delaware Management Holdings, Inc., Lincoln National (UK) plc, Lincoln Financial Advisors (LFA) and Lincoln Financial Distributors. Operations are divided into four segments: The Lincoln Retirement segment provides tax-deferred investment growth and lifetime income opportunities for its clients; the Life Insurance segment creates and protects wealth for its clients; the Investment Management segment offers various asset management services to retail and institutional clients, and the Lincoln UK conducts its business throughout the United Kingdom and offers unit-linked life and pension products.