National Lutheran News

Thrivent Financial receives affirmation for business practices

Thrivent Financial for Lutherans recently received recognition for good business practices from two professional resources.

For the 17th consecutive year, Thrivent Financial for Lutherans has been named to Fortune magazine’s Fortune 500 list based on annual revenues. The organization moved up 24 spots in the 2011 ranking to become the 318th largest company in the United States. The ranking was based on Thrivent Financial’s 2010 revenue of $7.470 billion. In addition, Fortune listed Thrivent Financial as the sixth largest mutual life/health insurance organization in the United States and the 14th largest company headquartered in Minnesota.

“We’re pleased to again be ranked among America’s leading companies,” said Randy Boushek, Thrivent Financial senior vice president and chief financial officer. “Our growth in revenue in 2010 reflects our success in meeting member needs and making a difference in the lives of those we serve.”

Thrivent gains superior rating

In addition, A.M. Best has affirmed Thrivent Financial for Lutherans A++ (Superior) rating and given the organization a stable outlook. A++ (Superior) is the highest of A.M. Best’s 16 ratings categories. A.M. Best cited improved operating results, strong risk-adjusted capitalization, and strong market presence within the Lutheran community as some of the overall strengths of the organization.

“The affirmation of our A++ (Superior) rating with a stable outlook, along with our recent affirmation from Fitch Ratings, reflects both agencies’ continued confidence in Thrivent Financial for Lutherans,” said Boushek. “This affirmation is just one more indicator of our overall financial strength and the value we provide to our members.”

A.M. Best also cited Thrivent Financial’s growth in assets under management and increased scale of its core life and annuity businesses.

This rating reflects Thrivent Financial’s overall financial integrity and claims-paying ability, explained Boushek, but does not apply to the investment performance of investment products.

Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com.

Tags: , , , , , , , , , ,