PIQUA — Fitch Ratings has upgraded Thrivent Financial’s Insurer Financial Strength rating to AA+ (Very Strong), the second-highest of Fitch’s 19 categories, and given the organization a stable outlook.
Thrivent Financial is represented locally by Mark Reedy, whose office is located at 429 N. Main St. in Piqua.
Fitch Ratings, a global leader in credit ratings and research, cited Thrivent’s extremely strong level of capitalization, which was enhanced by the material growth of surplus in recent years. The organization is committed to maintaining statutory capital levels in excess of rating guidelines.
As part of the upgrade, Thrivent was also recognized for its consistently solid profitability and favorable position within the Lutheran market as well as its growing franchise within the broader Christian community.
“As a membership organization, we know that our members count on us to fulfill our promises, allowing them to be wise with money and live generously,” said Randy Boushek, chief financial officer for Thrivent Financial. “This ratings upgrade from Fitch recognizes our commitment to serving our members from a position of strength and stability.”
These ratings reflect Thrivent Financial’s overall financial strength and claims-paying ability, but do not apply to the investment performance of investment products.