Thrivent Financial for Lutherans Insurance Company

Thrivent Financial for Lutherans Insurance Company
625 4th Ave S Ste 100
Minneapolis, Minnesota

Thrivent Financial for Lutherans is an insurance company founded based on faith and deep concern for the community. It is a not-for-profit organization, composed of more than 2.6 million members and created to provide the needs of individuals and families, and create a better future. True to the company’s name which “thrives” to strengthen lives and other people’s lives.

It is an insurance company that supports the values of faith, love for the family, stewardship, and service to others. What makes it different from other insurance companies is its financial proficiency, having been in the industry for more than a century, its shared values, and service.

It is considered as the largest fraternal benefit society, aiming to provide what is best for its members. It is known for the financial solutions it provides, activities for its members which it supports, and the resources it provides for the Lutheran community and other non-profit groups. Fortune 500 recognizes it as one of the financial services organization with a strength of about $67 billion in assets under management.

It envisions to be an organization which Lutherans and institutions will have their needs met as well as creative ways on how to achieve financial stability and resources in the future. Aside from creating financial goals for its members, it hopes to be the organization that is capable of letting other Lutherans give their care, concern, and support for others.

It provides a wide range of financial products such as life insurance, annuities, disability income insurance, mutual funds, and bank products. Also, it is an insurance company that supports outreach programs, events-for-a-cause, schools, charitable groups, and individuals in need.

A.M Best, the organization that rates the financial strength of those in the financial services industry, has rated Thrivent Financial for Lutherans with A++ or Superior rating. This is the highest rate that an organization can obtain. This means that the insurance company has the superior ability to meet its financial obligations to its clients.

AM Best stated that it sees the insurance company as stable, and will continue to develop in the years to come. Its ratings are based on both quantitative and qualitative evaluation of the insurance company’s balance sheet strength, profile or nature of the business, and its logistics.

According to the rating group, Thrivent Financial’s strong presence both in the commercial market and within the community of Lutherans has displayed an appropriate level of risk-adjusted capitalization and proper operating performance results to its success.

Randy Boushek, Senior Vice President and Chief Financial Officer of Thrivent Financial said that this rating give n by AM Best reflects the company’s strong financial bases, which is necessary to dedicate and contribute more to its members.

The rating is also an acknowledgment of a competitive reality in the financial services industry, and that even if Thrivent Financial functions as a fraternal benefit group, it is still met with strong competition from other commercial insurance companies, and especially those that focus on meeting the financial needs of individuals and providing a better future after retirement.