Thrivent Financial for Lutherans Continues Growth

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Assets under management, revenue, and surplus all climb as membership organization continues record-setting growth; Members and employees turn financial success into positive community impact

MINNEAPOLIS (February 28, 2013) -- Thrivent Financial for Lutherans today announced its 2012 financial results led to a fourth consecutive year of growth for the not-for-profit membership organization. Against the backdrop of a continuing sluggish economy, the firm continued to increase its financial strength and along with its members provided more than 8.7 million volunteer hours and $165.3 million in direct support to charitable organizations, schools, congregations and communities across the country.

"2012 was an outstanding year for Thrivent Financial for Lutherans and our members," said Brad Hewitt, president and CEO of Thrivent Financial for Lutherans. "Our strong business performance was driven by our ability to offer our members a diversified set of new and existing products that performed well in the economic environment."

Assets under management, statutory revenue, adjusted surplus, and life insurance all rose as Thrivent Financial experienced one of its best years of performance in its 111-year history. Assets under management grew to $82.2 billion, up 8.4 percent over 2011, while statutory revenue was up 4 percent, climbing to $8.3 billion from the previous year. Adjusted surplus, a key indicator of overall financial strength and stability of a financial services organization, reached $6.1 billion, 13 percent higher than 2011, and now stands at an all-time high for the organization.

Strong overall sales in life, health and annuity products as well as the introduction of new life and long-term care insurance products helped drive Thrivent Financial's 2012 growth. Life insurance sales rose 14 percent, health insurance sales climbed 13 percent, and variable annuity sales were up 18 percent as the organization continued its existing focus on ensuring its members have the proper protection products in place while still taking advantage of the market rebound. In addition, mutual fund sales grew 9.3 percent over 2011 to $1.65 billion as Americans returned to the equity marketplace.