ICMIF member Thrivent (USA) has announced that it will provide USD 542 million in dividend payments and policy enhancements, such as additional credited interest and reduced fees, to clients with membership in 2024. The total payout marks a 22% increase over 2023, reaching more clients than ever before, says Thrivent.
As a membership-owned organisation founded more than 120 years ago, Thrivent doesn’t have stockholders and instead returns value to its clients, distributing more than USD 3 billion in the last 10 years alone. As part of this year’s record-breaking total payout, 77% of Thrivent’s policies—over 2.1 million—will receive some form of dividend or policy enhancement in 2024, a 9% increase from 2023.
“Thrivent serves millions of clients, and we deliver value to them with competitive products and solutions, strong investment performance and a commitment to financial stewardship. We have grown Thrivent’s surplus significantly over the past few years because of our disciplined financial management, and now we’re able to deliver record-breaking total payouts to our clients in 2024,” said David Royal, Chief Financial and Investment Officer. “Although never guaranteed, we’ve offered dividends to our clients for more than 100 consecutive years. This financial strength and stability—combined with Thrivent’s work to empower lives of service and faith—is why our clients put their trust in Thrivent.”
Thrivent says its strong business results and disciplined financial management has been reinforced by the strong ratings it continues to receive from independent rating agencies. Earlier this year, ICMIF Supporting Member AM Best reaffirmed Thrivent’s A++ (Superior) rating, its strongest possible rating, which the organisation has received for more than two decades. Thrivent also carries an Aa2 (Excellent) rating from Moody’s Investor Service, the third highest of the agency’s 21 rating categories, and an AA+ (Very Strong) rating from S&P Global Ratings, the second highest of the agency’s 20 rating categories.
