Life insurer Lincoln Financial Group posted a lower quarterly profit, but beat analysts' estimates, helped by higher group protection sales.
The company reported a first-quarter net income of $245 million, or 83 cents per share, compared with $314 million, or 97 cents per share, a year ago.
Operating profit, a key metric of profitability for insurers as it excludes certain investment gains and losses, fell to $296 million, or $1.00 per share.
Analysts had expected the company to earn 98 cents per share, according to Thomson Reuters I/B/E/S.
Revenue for the quarter was almost flat at $2.71 billion.
Group protection sales rose 47 percent to $67 million during the quarter.
Lincoln Capital's shares were marginally down in extended trade. They closed at $24.58 on Wednesday on the New York Stock Exchange.
