UPDATE 1-Insurer Lincoln posts 2nd-qtr loss

* Lincoln posts quarterly loss

* Operating profit lower than a year ago

* Shares little changed after the report

NEW YORK, July 29 (Reuters) - Lincoln National Corp (LNC.N), one of the largest life insurers in the United States, on Wednesday reported a net loss in the second quarter, hurt by investment losses and costs from the sale of a UK business.

Philadelphia-based Lincoln said the loss was $161 million, or a loss of 62 cents a share, compared with a profit of $125 million, or 48 cents a share, in the year-ago quarter.

Operating earnings, which exclude realized gains and losses, were $212 million, or 81 cents a share, compared with $323 million, or $1.24 a share, in the year ago period.

Analysts on average expected operating earnings of 83 cents a share, according to Reuters Estimates.

Lincoln's shares, which closed down 1.74 percent at $18.05, in the regular session, were little changed after the report.

(Reporting by Lilla Zuill; Editing Bernard Orr)