EARNINGS

EARNINGS

LINCOLN NATIONAL GAINS

FROM SALE OF SUBSIDIARYFORT WAYNE, Ind. - Lincoln National Corp. saw its net income for the fourth quarter balloon, to $639.2 million from $142.8 million the previous year.

The figure included $776.9 million from the sale of LNC's American States Financial Corp. subsidiary, which was sold to Safeco Corp. in June for $2.8 billion.

The life insurance holding company also earned $28.9 million in realized investment gains for the fourth quarter, up from $15.7 million.

Net income for the full year grew, to $934 million from $513.5 million in 1996. The 1997 figure included $97.7 million in realized gains on investments as well as the gain on the sale of American States. In 1996, LNC earned $79.4 million in realized gains.

LNC's fourth-quarter revenue stayed the same at $1.3 billion. Year-end revenue grew, to $5 billion from $4.7 billion in 1996.

AMERICAN BANKERS POSTS

PROFIT AMID TAKEOVER BATTLE

MIAMI - American Bankers Insurance Group Inc., the target of a fight between Cedent Corp. and American International Group over which will own it, reported growth in its fourth-quarter net income, to $30 million from $26.2 million for the same period in 1996.

The insurer, which sells credit and other insurance products through banks, said its net income for 1997 rose, to $114.9 million from $94.5 million the previous year.

Total revenue was up for the quarter, to $402.3 million from $368 million for the 1996 period. Full-year revenue rose, to $1.6 billion last year from $1.5 billion the year before. The company did not report its combined ratio figures.

UNUM'S NET INCOME

SOARED IN QUARTER, YEAR

PORTLAND, Maine - UNUM Corp.'s 1997 net income rose, to $370.3 million from $238 million for 1996.

Net income for the disability insurer's fourth quarter was also up, to $76.2 million from $48 million in the 1996 period.

Total revenue for 1997 increased, to $4.1 billion from $4 billion the previous year. Total revenue for the fourth quarter stayed unchanged at $1 billion.