Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Financial Planning > Behavioral Finance

Agency To Review Thrivent Rating

Your article was successfully shared with the contacts you provided.

NU Online News Service, Sept. 28, 2004, 3:12 p.m. EDT

Moody’s Investors Service, New York, is reviewing Thrivent Financial for Lutherans’ insurance financial strength rating for a possible downgrade.[@@]

Thrivent, Minneapolis, now has an Aa1 rating. The rating is Moody’s second highest rating.

Moody’s says its review will focus on Thrivent’s profitability and expense structure. In addition, the agency says it will review the company’s exposure to long term care insurance. Thrivent discontinued sales of its own LTC product in early 2003 but still markets LTC insurance from outside insurers.

Thrivent Financial was created in 2002 from the merger of 2 fraternal organizations, the Aid Association for Lutherans and the Lutheran Brotherhood.

Moody’s says its review will evaluate whether the financial benefits it had expected from the merger have been realized.

Any downgrade that might occur as a result of the review would be no more than 1 notch, Moody’s says. The agency expects to conclude its review in the fourth quarter of 2004.

Thrivent issued a statement emphasizing that it still has the second highest rating that Moody’s gives.

The Moody’s announcement “means that Moody’s has some unresolved areas that it needs to review,” Thrivent says in the statement. “We look forward to working with Moody’s to resolve any concerns they may have and will provide additional information which we believe supports our current rating.”


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.