Thrivent Financial’s managed assets exceed $100 billion

Special to The Freeman

March 3, 2015

APPLETON — For the first time in company history, Thrivent Financial reported its assets under management/advisement surpassed $100 billion.

Thrivent’s 2014 financial results led to a sixth consecutive year of growth for the 113-year-old fraternal benefit society, according to the announcement.

As of Dec. 31, assets under management/advisement were $105.4 billion, up 6.6 percent compared to 2013.

“Total surplus, a key indicator of overall financial strength and stability of a financial services organization, reached $7.6 billion, 10.6 percent higher than 2013, and now stands at an all-time high for the organization. Total revenue was up to $8.9 billion, a 4.9 percent increase from the previous year,” according to the announcement.

Annuity sales and sales of life insurance products both had growth in 2014. Thrivent reported its life insurance sales grew at 1.6 percent for the year while annuity sales climbed at 8.9 percent. Thrivent’s life insurance in force stands at $182.5 billion, an all-time high for the organization.

“Our commitment to fulfil the promises we make is something we’ve prided ourselves on for more than 100 years,” said Randy Boushek, chief financial officer for Thrivent, in a statement. “The balance we’re pursuing in our business and these continued strong results help ensure we'll be around for another hundred years to keep our promises to our members.”