U.S. Insurance Stocks Lose 470 Billion in a Day, Short Selling Rises

On the 24th, Lincoln National Corporation (NYSE: LNC), a U.S. life insurer, closed at $36.23 on the New York Stock Exchange, plunging 5.13% from the previous day. Trading volume was approximately 1.43 million shares, and its market capitalization stood at about $6.9 billion (roughly KRW 9.7 trillion), erasing around $340 million (KRW 470 billion) in a single session.

In its first-quarter results announced last month, the company significantly narrowed its net loss year-on-year while boosting adjusted operating income, extending its profitability recovery trend. As of the end of May, short interest totaled about 9.11 million shares—nearly 5% of the float—cited as a driver of near-term volatility.

Founded in 1905, Lincoln National is a U.S. insurance and asset-management holding company that operates under the Lincoln Financial Group brand, offering annuities, life insurance, retirement plans and group protection products. Headquartered in Radnor, Pennsylvania, the Fortune 200 company is led by CEO Ellen Cooper and is also known as the naming sponsor of Lincoln Financial Field, home of the Philadelphia Eagles.