Lincoln National, which markets itself as Lincoln Financial Group, will raise about $600 million from the stock offer.
Excluding volatile food and energy costs, core prices also increased 0.1%, matching expectations.
The Federal Reserve's report on Tuesday showed production at the nation's factories, mines and utilities has fallen for seven straight months. Output also turned out to be a bit weaker — a 0.7 percent decline— in April than the Fed initially reported.
Hedge funds gained 5.77% in May and 10.75% for the year through May 31, according to research from BarclayHedge.
Because the insurance industry has grown to $6.3 trillion in assets under management and $1.2 trillion in annual premiums, the regulations that govern the industry need to be modernized, according to House Capital Markets Subcommittee Chairman Paul Kanjorski, D-Pa.
The Commerce Department said Tuesday that construction of new homes and apartments jumped 17.2% to a seasonally adjusted annual rate of 532,000 units.
Gross domestic production declined nearly 10 percent in the first quarter and the government predict it will decline by 6 to 8 percent this year.
Sun Life Financial Inc. today said that it will buy Lincoln National Corp.’s business in the United Kingdom for about $318.6 million.
Standard and Poor’s Ratings Services has raised its outlook on TARP recipients The Hartford (Conn.) Financial Services Group and Lincoln National Corp.
