|Thrivent Financial for Lutherans reports third-consecutive year of strong results|
|News Releases - Not-for-Profit News|
|Written by Dan Moret|
|Monday, 27 February 2012 15:06|
Not-for-profit membership organization also reports more than $175 million given to communities in 2011
MINNEAPOLIS (Feb. 23, 2012) – Thrivent Financial for Lutherans announced today that its 2011 results led to the third-consecutive year of financial growth for the not-for-profit, Fortune 500 membership organization. Sales, revenue, assets under management, and total adjusted surplus all rose in 2011 and have continued to rise since 2008 despite turbulent economic and market conditions. Thrivent Financial’s statutory revenue climbed to $7.9 billion, up six percent over 2010, and assets under management rose to $75.8 billion, up almost four percent from the previous year.
“For the third consecutive year, Thrivent Financial produced outstanding results,” said Brad Hewitt, president and CEO of Thrivent Financial. “We continue to grow while offering the ongoing strength and stability our members expect from us. Solid business performance and strong investment results are two of the drivers that helped us meet and exceed our target goals.”
Life, health and annuity sales continued to be a major factor in helping Thrivent Financial attain strong results, rising five percent from 2010. Thrivent Financial’s life insurance in force now stands at $170.2 billion, two percent higher than in 2010.
Ongoing strength and stability
Thrivent Financial continues to be one of the strongest and most stable financial services organizations in the industry. The total adjusted surplus of the organization grew seven percent to $5.4 billion in 2011. In addition, Fitch Ratings recently affirmed Thrivent Financial for Lutherans’ AA (Very Strong) rating, the third-highest of Fitch’s 19 categories, and gave the organization a stable outlook. Earlier in 2011, A.M. Best gave Thrivent Financial for Lutherans an A++ (Superior) rating with a stable outlook. A++ (Superior) is the highest of A.M. Best’s 16 ratings categories.
Community giving and outreach
Thrivent Financial, its members and employees continue to strengthen communities nationwide. In 2011, Thrivent Financial and its members gave $175.5 million in direct support to charitable organizations, schools, congregations and individuals in need. In addition, the Thrivent Financial for Lutherans Foundation recently announced that it awarded $15.1 million in grants to Lutheran institutions nationwide and nonprofits in Minneapolis/St. Paul and the Fox Cities (Wis.) area.
Thrivent Financial members and other non-members volunteered more than 10.8 million hours in the communities in which they live and work in support of Thrivent Financial projects in 2011. The 3,000 employees of Thrivent Financial also gave more than 71,000 volunteer hours in support of nonprofit organizations in the Twin Cities (Minn.) and Fox Cities (Wis.). Through the Thrivent Gift Multiplier program, employees’ and financial representatives’ donations were matched by the Foundation for a total of $4,646,222. In addition, through the employee giving campaign employees generated an additional $759,000 for nonprofits, which was matched by the Foundation for a total of $1,518,000.
Thrivent Financial for Lutherans distributed more than $62 million through its Thrivent Choice Dollars program in 2011. More than 20,000 Lutheran congregations and organizations received funding as a result of 259,000 eligible Thrivent Financial members recommending where to distribute a portion of the organization’s charitable funds.
Thrivent Builds with Habitat for Humanity
Through its unique partnership, Thrivent Builds with Habitat for Humanity, Thrivent Financial for Lutherans will contribute $9.2 million to fund the construction and rehabilitation of 142 Habitat for Humanity homes in 32 U.S. states and an additional $1 million to support teams building homes around the world in 2012. With this contribution, Thrivent Financial will have contributed $160 million since the program began in 2005, constructing more than 2,600 homes in the U.S. and around the world.
“Our purpose is to help our members be wise with money and to inspire them to live generously,” continued Hewitt. “For more than 100 years, Thrivent Financial has helped its members achieve financial security and give back to their communities. Our ongoing strength and stability will allow us to be there for them for another 100 years.”
About Thrivent Financial for Lutherans
Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.5 million members achieve financial security and give back to their communities. 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 Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit Thrivent.com. Also, you can find us on Facebook and Twitter.
Insurance products issued or offered by Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, 800-847-4836, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent Financial for Lutherans. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents of Thrivent Financial.For additional important disclosure information, please visit Thrivent.com/disclosures.
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