ICMIF member Thrivent (USA) has announced that it will pay an estimated USD 296 million in dividends in 2022 to clients who own eligible insurance products.
Thrivent’s structure as a not-for-profit, fraternal benefit society allows it to return a portion of any surplus to eligible clients in the form of dividends. These are the result of rigorous expense management, strong investment practices and careful underwriting of new business which reflects Thrivent’s commitment to helping clients achieve their financial goals.
While dividends are not guaranteed, Thrivent has paid them since 1913. Last year, Thrivent returned USD 280 million in dividends to eligible clients. In the last 10 years, more than USD 2.9 billion in dividends have been distributed.
The Thrivent Board of Directors determines whether dividends are issued each year, after setting aside amounts necessary for providing for the growth of the organisation and for protecting the organisation’s ability to meet ongoing and future claims and obligations.
As a mission-driven, diversified financial services organisation, Thrivent helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs over the phone, online as well as through financial professionals and independent agents nationwide.
Driven by a higher purpose at its core, Thrivent is committed to focusing on its clients’ goals and priorities, guiding them towards financial choices that will help them live the life they want today – and tomorrow.
Thrivent was one of the case studies featured in the 2022 ICMIF report Leveraging the mutual difference. The case study “A purpose-driven company for future generations” was featured in the section of the report that looked at how ICMIF members were leveraging the mutual/cooperative status as a point of difference when marketing and communicating to customers.
Thrivent also presented at a session on “Mutuality: Creating sustainable, purpose-driven companies of the future” during the 2021 ICMIF Americas Digital Conference, which covered the organisation’s transformation to create a purpose-led and customer-centric insurance company, beginning with the development of its new brand expression to reflect its fundamental purpose and promise to clients.
ICMIF members can exclusively access both the ICMIF report and a recording/summary of this video presentation through the ICMIF Knowledge Hub.