Lincoln National Corp., the insurer that repay a $950 million U.S. bailout, thought it’s looking for to make more commercial real estate loans after the company’s selection windswept the economic slump.
“We’re very buoyant on the advantage class,” Chief Financial Officer Frederick Crawford said today at an industry symposium in Baltimore. The Radnor, Pennsylvania-based insurer’s assurance is based on a “longer-term” basis, Crawford said.
Life insurers extend loans to property owners as part of their speculation strategy. MetLife Inc., the biggest U.S. life insurer, and No. 2 Prudential Financial Inc. said this year there may be opportunity to invest in commercial real estate. Lincoln had about $6.9 billion in commercial mortgages as of June 30, and borrowers were present on 99 percent of their loans, the company said in a filing in August.
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