*56014 2016 2010010 0* ANNUAL STATEMENT - …...Bradford Leigh Hewitt Chief Executive Officer 2....
Transcript of *56014 2016 2010010 0* ANNUAL STATEMENT - …...Bradford Leigh Hewitt Chief Executive Officer 2....
FRATERNAL ORDERS - ASSOCIATION EDITION
*56014201620100100*
ANNUAL STATEMENTFor the Year Ended December 31, 2016
of the Condition and Affairs of the
Thrivent Financial for LutheransNAIC Group Code.....2938, 2938 NAIC Company Code..... 56014 Employer's ID Number..... 39-0123480
(Current Period) (Prior Period)Organized under the Laws of WI State of Domicile or Port of Entry WI Country of Domicile USIncorporated/Organized..... November 24, 1902 Commenced Business..... August 15, 1902Statutory Home Office 4321 North Ballard Road….. Appleton ..... WI ..... US ..... 54919-0001
(Street and Number) (City or Town, State, Country and Zip Code)Main Administrative Office 625 Fourth Avenue South MS-Reg Financial….. Minneapolis ..... MN ..... US..... 55415-1624800-847-4836
(Street and Number) (City or Town, State, Country and Zip Code) (Area Code) (Telephone Number)Mail Address 625 Fourth Avenue South MS-Reg Financial….. Minneapolis ..... MN ..... US ..... 55415-1624
(Street and Number or P. O. Box) (City or Town, State, Country and Zip Code)Primary Location of Books and Records 625 Fourth Avenue South MS-Reg Financial….. Minneapolis ..... MN ..... US ..... 55415-1624800-847-4836
(Street and Number) (City or Town, State, Country and Zip Code) (Area Code) (Telephone Number)Internet Web Site Address www.thrivent.comStatutory Statement Contact Joseph Edward Barnes 612-844-4243
(Name) (Area Code) (Telephone Number) (Extension)[email protected] 612-844-7373(E-Mail Address) (Fax Number)
OFFICERSName Title Name Title
1. Bradford Leigh Hewitt Chief Executive Officer 2. Paul Roberts Johnston General Counsel & Secretary3. Randall Lee Boushek Chief Financial Officer, Treasurer 4. Douglas Alan Bearrood Actuary
OTHERRussell William Swansen Chief Investment Officer Mary Scott Nease # Chief Human Resource OfficerTerry William Timm Chief Administrative Officer James Adlai Thomsen President, Thrivent HoldingsSusan Oberman Smith Chief Actuary Teresa Joy Rasmussen President, Thrivent Financial
Christopher Joseph Kopka President, Thrivent ChurchSolutions
DIRECTORS OR TRUSTEESN. Cornell Boggs III Kenneth Arnold Carow Lynn Crump-Caine # Eric John DrautKirk Douglas Farney Bradford Leigh Hewitt Mark Andrew Jeske Frederick George KraegelFrederick Mark Kuhlmann Kathryn Vanstrom Marinello Frank Henry Moeller Bonnie Ellen RaquetAlice Marie Richter James Henry Scott Allan Roy Spies
State of........ MinnesotaCounty of..... Hennepin
The officers of this reporting entity being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting periodstated above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except asherein stated, and that this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to, is a full and true statementof all the assets and liabilities and of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductionstherefrom for the period ended, and have been completed in accordance with the NAIC Annual Statement Instructions and Accounting Practices and Proceduresmanual except to the extent that: (1) state law may differ; or, (2) that state rules or regulations require differences in reporting not related to accounting practices andprocedures, according to the best of their information, knowledge and belief, respectively. Furthermore, the scope of this attestation by the described officers alsoincludes the related corresponding electronic filing with the NAIC, when required, that is an exact copy (except for formatting differences due to electronic filing) of theenclosed statement. The electronic filing may be requested by various regulators in lieu of or in addition to the enclosed statement.
(Signature) (Signature) (Signature)Bradford Leigh Hewitt Paul Roberts Johnston Randall Lee Boushek
1. (Printed Name) 2. (Printed Name) 3. (Printed Name)Chief Executive Officer General Counsel & Secretary Chief Financial Officer, Treasurer
(Title) (Title) (Title)
Subscribed and sworn to before me a. Is this an original filing? Yes [ X ] No [ ]This day of 2017 b. If no 1. State the amendment number
2. Date filed3. Number of pages attached
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
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ASSETSCurrent Year Prior Year
1 2 3 4Net Admitted
Nonadmitted Assets NetAssets Assets (Cols. 1 - 2) Admitted Assets
1. Bonds (Schedule D)........................................................................................................... .........41,908,313,000 .................................... .........41,908,313,000 .........40,508,393,193
2. Stocks (Schedule D):
2.1 Preferred stocks....................................................................................................... ..............125,272,550 .................................... ..............125,272,550 .................96,741,961
2.2 Common stocks....................................................................................................... ...........1,587,930,241 .................................... ...........1,587,930,241 ...........1,363,851,566
3. Mortgage loans on real estate (Schedule B):
3.1 First liens.................................................................................................................. ...........7,775,910,151 .................................... ...........7,775,910,151 ...........7,557,681,445
3.2 Other than first liens................................................................................................. .................................... .................................... .................................0 ....................................
4. Real estate (Schedule A):
4.1 Properties occupied by the company (less $..........0encumbrances)........................................................................................................ .................53,388,403 .................................... .................53,388,403 .................47,160,707
4.2 Properties held for the production of income (less $..........0encumbrances)........................................................................................................ .................................... .................................... .................................0 ....................................
4.3 Properties held for sale (less $..........0 encumbrances).......................................... ...................1,923,400 .................................... ...................1,923,400 ...................2,352,747
5. Cash ($.....(36,670,882), Schedule E-Part 1), cash equivalents ($.....1,419,105,532,Schedule E-Part 2) and short-term investments ($.....348,209,756, Schedule DA)......... ...........1,730,644,406 .................................... ...........1,730,644,406 ...........1,808,324,076
6. Contract loans (including $..........0 premium notes).......................................................... ...........1,166,787,405 ...................2,346,318 ...........1,164,441,087 ...........1,172,411,764
7. Derivatives (Schedule DB)................................................................................................. .................36,048,624 .................................... .................36,048,624 .................26,274,517
8. Other invested assets (Schedule BA)................................................................................ ...........3,068,311,792 ...................6,087,448 ...........3,062,224,344 ...........2,814,868,979
9. Receivables for securities.................................................................................................. .................69,942,386 .................................... .................69,942,386 .................39,467,556
10. Securities lending reinvested collateral assets (Schedule DL)......................................... .................................... .................................... .................................0 ....................................
11. Aggregate write-ins for invested assets............................................................................. .................................0 .................................0 .................................0 .................................0
12. Subtotals, cash and invested assets (Lines 1 to 11)......................................................... .........57,524,472,359 ...................8,433,766 .........57,516,038,593 .........55,437,528,512
13. Title plants less $..........0 charged off (for Title insurers only)........................................... .................................... .................................... .................................0 ....................................
14. Investment income due and accrued................................................................................. ..............430,288,362 ......................690,432 ..............429,597,930 ..............462,365,710
15. Premiums and considerations:
15.1 Uncollected premiums and agents' balances in the course of collection............... ...................7,570,166 .................................... ...................7,570,166 ......................267,987
15.2 Deferred premiums, agents' balances and installments booked but deferredand not yet due (including $..........0 earned but unbilled premiums)...................... ..............117,735,272 .................................... ..............117,735,272 ..............114,562,642
15.3 Accrued retrospective premiums ($..........0) and contracts subject toredetermination ($..........0)....................................................................................... .................................... .................................... .................................0 ....................................
16. Reinsurance:
16.1 Amounts recoverable from reinsurers..................................................................... ...................2,534,931 .................................... ...................2,534,931 ...................3,599,407
16.2 Funds held by or deposited with reinsured companies........................................... .................................... .................................... .................................0 ....................................
16.3 Other amounts receivable under reinsurance contracts......................................... .................................... .................................... .................................0 ....................................
17. Amounts receivable relating to uninsured plans................................................................ .................................... .................................... .................................0 ....................................
18.1 Current federal and foreign income tax recoverable and interest thereon....................... .................................... .................................... .................................0 ....................................
18.2 Net deferred tax asset........................................................................................................ .................................... .................................... .................................0 ....................................
19. Guaranty funds receivable or on deposit........................................................................... .................................... .................................... .................................0 ....................................
20. Electronic data processing equipment and software......................................................... .................53,668,656 .................45,754,096 ...................7,914,560 ...................8,799,014
21. Furniture and equipment, including health care delivery assets ($..........0)..................... .................13,245,365 .................13,245,365 .................................0 ....................................
22. Net adjustment in assets and liabilities due to foreign exchange rates............................ .................................... .................................... .................................0 ....................................
23. Receivables from parent, subsidiaries and affiliates......................................................... .................16,062,246 .................................... .................16,062,246 .................11,302,334
24. Health care ($..........0) and other amounts receivable...................................................... ...................2,869,702 ...................2,869,702 .................................0 ....................................
25. Aggregate write-ins for other-than-invested assets........................................................... .................51,645,403 .................33,268,077 .................18,377,326 .................12,539,612
26. Total assets excluding Separate Accounts, Segregated Accounts and ProtectedCell Accounts (Lines 12 to 25)........................................................................................... .........58,220,092,463 ..............104,261,438 .........58,115,831,025 .........56,050,965,218
27. From Separate Accounts, Segregated Accounts and Protected Cell Accounts............... .........26,717,705,243 .................................... .........26,717,705,243 .........24,061,519,482
28. TOTAL (Lines 26 and 27).................................................................................................. .........84,937,797,706 ..............104,261,438 .........84,833,536,268 .........80,112,484,699
DETAILS OF WRITE-INS1101. ............................................................................................................................................ .................................... .................................... .................................0 ....................................1102. ............................................................................................................................................ .................................... .................................... .................................0 ....................................1103. ............................................................................................................................................ .................................... .................................... .................................0 ....................................1198. Summary of remaining write-ins for Line 11 from overflow page...................................... .................................0 .................................0 .................................0 .................................01199. Totals (Lines 1101 through 1103 plus 1198) (Line 11 above).......................................... .................................0 .................................0 .................................0 .................................02501. Prepaid expenses............................................................................................................... .................23,877,249 .................23,877,249 .................................0 ....................................2502. Miscellaneous accounts receivable................................................................................... .................21,181,976 ...................2,804,650 .................18,377,326 .................12,539,6122503. Unsecured loans................................................................................................................ ...................6,319,797 ...................6,319,797 .................................0 ....................................2598. Summary of remaining write-ins for Line 25 from overflow page...................................... ......................266,382 ......................266,382 .................................0 .................................02599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above).......................................... .................51,645,403 .................33,268,077 .................18,377,326 .................12,539,612
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
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LIABILITIES, SURPLUS AND OTHER FUNDS1 2
Current Year Prior Year1. Aggregate reserve for life contracts (Exhibit 5, Line 9999999) (including $..........0 Modco Reserve)................................................. ..............38,371,564,928 ..............37,009,706,3632. Aggregate reserve for accident and health contracts (Exhibit 6, Line 16, Col. 1) (including $.........0 Modco Reserve)...................... ................5,654,855,652 ................5,304,728,0833. Liability for deposit-type contracts (Exhibit 7, Line 14, Col. 1) (including $..........0 Modco Reserve)................................................... ................3,272,027,273 ................3,104,279,8654. Contract claims:
4.1 Life (Exhibit 8, Part 1, Line 4.4, Column 1 less sum of Columns 9, 10 and 11)......................................................................... ...................260,387,305 ...................235,875,5554.2 Accident and health (Exhibit 8, Part 1, Line 4.4, sum of Columns 9, 10 and 11)....................................................................... .....................35,305,048 .....................39,999,991
5. Refunds due and unpaid (Exhibit 4, Line 10)........................................................................................................................................ ..........................686,377 ..........................682,4586. Provision for refunds payable in following calendar year-estimated amounts:
6.1 Apportioned for payment.............................................................................................................................................................. ...................316,998,769 ...................312,139,8136.2 Not yet apportioned...................................................................................................................................................................... ......................................... .........................................
7. Premiums and annuity considerations for life and accident and health contracts received in advance less $..........0discount; including $.....10,309,330 accident and health premiums (Exhibit 1, Part 1, Col. 1, sum of Lines 4 and 14)...................... .....................15,464,039 .....................14,913,336
8. Contract liabilities not included elsewhere:8.1 Surrender values on canceled contracts..................................................................................................................................... ......................................... .........................................8.2 Other amounts payable on reinsurance including $..........0 assumed and $..........0 ceded...................................................... ......................................... .........................................8.3 Interest Maintenance Reserve (IMR, Line 6)............................................................................................................................... ...................416,344,286 ...................423,117,339
9. Commissions to fieldworkers due or accrued-life and annuity contracts $.....8,221,980 ; accident and health $......581,718and deposit-type contract funds $.....10,403......................................................................................................................................... .......................8,813,414 .....................11,427,935
10. Commissions and expense allowances payable on reinsurance assumed......................................................................................... ......................................... .........................................11. General expenses due or accrued (Exhibit 2, Line 12, Col. 7)............................................................................................................. .....................62,237,148 .....................43,599,00412. Transfers to Separate Accounts due or accrued (net) (including $.....(536,202,049) accrued for expense allowances
recognized in reserves).......................................................................................................................................................................... ..................(567,485,353) ..................(543,937,607)13. Taxes, licenses and fees due or accrued (Exhibit 3, Line 8, Col. 6)..................................................................................................... .......................9,486,954 .......................5,685,81514. Unearned investment income................................................................................................................................................................ .......................5,781,309 .......................1,171,78615. Amounts withheld or retained by Society as agent or trustee............................................................................................................... .....................11,504,636 .....................17,166,79216. Amounts held for fieldworkers' account, including $..........0 fieldworkers' credit balances.................................................................. ......................................... .........................................17. Remittances and items not allocated..................................................................................................................................................... .....................35,632,921 .....................28,393,62318. Net adjustment in assets and liabilities due to foreign exchange rates................................................................................................ ......................................... .........................................19. Liability for benefits for employees and fieldworkers if not included above.......................................................................................... ...................380,600,330 ...................463,019,04420. Borrowed money $..........0 and interest thereon $..........0.................................................................................................................... ......................................... .........................................21. Miscellaneous liabilities:
21.1 Asset valuation reserve (AVR, Line 16, Col. 7)........................................................................................................................... ................1,099,299,998 ...................999,557,75521.2 Reinsurance in unauthorized and certified ($..........0) companies.............................................................................................. ......................................... .........................................21.3 Funds held under reinsurance treaties with unauthorized and certified ($..........0) reinsurers.................................................. ......................................... .........................................21.4 Payable to subsidiaries and affiliates........................................................................................................................................... ..........................754,903 ..........................737,60121.5 Drafts outstanding........................................................................................................................................................................ ......................................... .........................................21.6 Funds held under coinsurance.................................................................................................................................................... ......................................... .........................................21.7 Derivatives.................................................................................................................................................................................... .....................12,758,020 .......................4,115,24121.8 Payable for securities................................................................................................................................................................... ...................384,438,718 ................1,005,172,44021.9 Payable for securities lending...................................................................................................................................................... ...................523,112,437 ...................384,702,841
22. Aggregate write-ins for liabilities............................................................................................................................................................ ...................126,187,842 ...................110,511,87723. Total liabilities excluding Separate Accounts business (Lines 1 to 22)................................................................................................ ..............50,436,756,955 ..............48,976,766,94724. From Separate Accounts statement...................................................................................................................................................... ..............26,671,165,389 ..............24,009,221,43425. Total liabilities (Lines 23 and 24)........................................................................................................................................................... ..............77,107,922,344 ..............72,985,988,38126. Aggregate write-ins for other than liabilities and surplus funds............................................................................................................ ......................................0 ......................................027. Surplus notes......................................................................................................................................................................................... ......................................... .........................................28. Aggregate write-ins for surplus funds.................................................................................................................................................... ..........................500,000 ..........................500,00029. Unassigned funds.................................................................................................................................................................................. ................7,725,113,924 ................7,125,996,31930. Total (Lines 26 through 29) (Page 4, Line 47) (including $.....46,539,850 in Separate Accounts statement)..................................... ................7,725,613,924 ................7,126,496,31931. Totals (Lines 25 + 30) (Page 2, Line 28, Col. 3)................................................................................................................................... ..............84,833,536,268 ..............80,112,484,699
DETAILS OF WRITE-INS2201. Postretirement benefit liability................................................................................................................................................................ ...................111,408,838 ...................108,855,9302202. Other liabilities........................................................................................................................................................................................ .....................14,779,004 .......................1,655,9472203. ................................................................................................................................................................................................................ ......................................... .........................................2298. Summary of remaining write-ins for Line 22 from overflow page.......................................................................................................... ......................................0 ......................................02299. Totals (Lines 2201 through 2203 plus 2298) (Line 22 above).............................................................................................................. ...................126,187,842 ...................110,511,8772601. ................................................................................................................................................................................................................ ......................................... .........................................2602. ................................................................................................................................................................................................................ ......................................... .........................................2603. ................................................................................................................................................................................................................ ......................................... .........................................2698. Summary of remaining write-ins for Line 26 from overflow page.......................................................................................................... ......................................0 ......................................02699. Totals (Lines 2601 through 2603 plus 2698) (Line 26 above).............................................................................................................. ......................................0 ......................................02801. Contingency reserve for Separate Account business........................................................................................................................... ..........................500,000 ..........................500,0002802. ................................................................................................................................................................................................................ ......................................... .........................................2803. ................................................................................................................................................................................................................ ......................................... .........................................2898. Summary of remaining write-ins for Line 28 from overflow page.......................................................................................................... ......................................0 ......................................02899. Totals (Lines 2801 through 2803 plus 2898) (Line 28 above).............................................................................................................. ..........................500,000 ..........................500,000
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
4
SUMMARY OF OPERATIONS1 2
Current Year Prior Year 1. Premiums and annuity considerations for life and accident and health contracts (Exhibit 1, Part 1, Line 20.4, Col. 1).................................... ..........5,450,605,928 ..........5,499,676,439 2. Considerations for supplementary contracts with life contingencies.................................................................................................................. ...............78,072,928 ...............65,555,9803. Net investment income (Exhibit of Net Investment Income, Line 17)................................................................................................................. ..........2,768,468,228 ..........2,805,287,4804. Amortization of Interest Maintenance Reserve (IMR, Line 5)............................................................................................................................. .............118,180,695 .............128,416,2315. Separate Accounts net gain from operations excluding unrealized gains or losses.......................................................................................... .................2,500,000 .................6,300,0006. Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col. 1)................................................................ ...............27,813,232 ...............26,543,7917. Reserve adjustments on reinsurance ceded....................................................................................................................................................... ................................... ...................................8. Miscellaneous Income:
8.1 Income from fees associated with investment management, administration and contract guarantees from Separate Accounts............ .............580,104,456 .............566,274,0668.2 Charges and fees for deposit-type contracts............................................................................................................................................... ................................... ...................................8.3 Aggregate write-ins for miscellaneous income............................................................................................................................................ ...............17,480,688 ...............22,649,633
9. Totals (Lines 1 to 8.3).......................................................................................................................................................................................... ..........9,043,226,157 ..........9,120,703,62010. Death benefits...................................................................................................................................................................................................... ..........1,005,019,661 .............969,111,76911. Matured endowments (excluding guaranteed annual pure endowments)......................................................................................................... .................9,928,652 .................9,458,87912. Annuity benefits.................................................................................................................................................................................................... .............718,538,983 .............628,868,48913. Disability benefits and benefits under accident and health contracts, including premiums waived $.....37,322,543........................................ .............348,279,236 .............344,918,80914. Surrender benefits and withdrawals for life contracts......................................................................................................................................... ..........1,927,702,005 ..........1,832,480,91915. Interest and adjustments on contract or deposit-type contracts funds............................................................................................................... .............121,218,100 .............116,009,75816. Payments on supplementary contracts with life contingencies........................................................................................................................... .............215,841,443 .............228,010,79217. Increase in aggregate reserve for life and accident and health contracts.......................................................................................................... ..........1,711,780,058 ..........1,338,472,92618. Totals (Lines 10 to 17)......................................................................................................................................................................................... ..........6,058,308,137 ..........5,467,332,34119. Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only)
(Exhibit 1, Part 2, Line 31, Col. 1 less Col. 5)...................................................................................................................................................... .............285,876,413 .............294,681,02720. Commissions and expense allowances on reinsurance assumed (Exhibit 1, Part 2, Line 26.2, Col. 1 less Col. 5)......................................... ................................... ...................................21. General insurance expenses and fraternal expenses (Exhibit 2, Line 10, Cols. 1, 2, 3, 4 and 6)..................................................................... .............747,338,144 .............708,906,91622. Insurance taxes, licenses and fees (Exhibit 3, Line 6, Cols. 1, 2, 3 and 5)........................................................................................................ ...............33,949,250 ...............40,238,23023. Increase in loading on deferred and uncollected premiums............................................................................................................................... ................(4,341,539) ................(5,140,655)24. Net transfers to or (from) Separate Accounts net of reinsurance....................................................................................................................... .............902,214,797 ..........1,457,322,85225. Aggregate write-ins for deductions...................................................................................................................................................................... ...............33,248,780 ...............28,814,38326. Totals (Lines 18 to 25)......................................................................................................................................................................................... ..........8,056,593,982 ..........7,992,155,09427. Net gain from operations before refunds to members (Line 9 minus Line 26)................................................................................................... .............986,632,175 ..........1,128,548,52628. Refunds to members (Exhibit 4, Line 17, Cols. 1 + 2)......................................................................................................................................... .............315,385,410 .............315,956,28029. Net gain from operations after refunds to members and before realized capital gains (losses) (Line 27 minus Line 28)................................ .............671,246,765 .............812,592,24630. Net realized capital gains (losses) less capital gains tax of $..........0 (excluding $.....111,165,792 transferred to the IMR)............................. ............(115,438,953) ..............(42,291,791)31. Net income (Lines 29 + 30).................................................................................................................................................................................. .............555,807,813 .............770,300,455
SURPLUS ACCOUNT32. Surplus, December 31, previous year (Page 3, Line 30, Col. 2)........................................................................................................................ ..........7,126,496,319 ..........6,492,586,16633. Net income from operations (Line 31)................................................................................................................................................................. .............555,807,813 .............770,300,45534. Change in net unrealized capital gains (losses) less capital gains tax of $..........0............................................................................................ ...............75,613,231 ............(161,918,683)35. Change in net unrealized foreign exchange capital gain (loss).......................................................................................................................... ................(7,727,465) ................(1,502,978)36. Change in nonadmitted assets............................................................................................................................................................................ ................(6,103,104) ......................98,49937. Change in liability for reinsurance in unauthorized and certified companies...................................................................................................... ................................... ...................................38. Change in reserve on account of change in valuation basis (increase) or decrease......................................................................................... ................................... ...................................39. Change in asset valuation reserve...................................................................................................................................................................... ..............(99,742,243) ..............(27,315,760)40. Surplus (contributed to) withdrawn from Separate Accounts during period....................................................................................................... .................2,500,000 .................6,300,00041. Other changes in surplus in Separate Accounts statement................................................................................................................................ ................(8,258,194) ..............(27,200,578)42. Change in surplus notes...................................................................................................................................................................................... ................................... ...................................43. Cumulative effect of changes in accounting principles....................................................................................................................................... ................................... ...................................44. Change in surplus as a result of reinsurance...................................................................................................................................................... ................................... ...................................45. Aggregate write-ins for gains and losses in surplus............................................................................................................................................ ...............87,027,567 ...............75,149,19846. Net change in surplus for the year (Lines 33 through 45)................................................................................................................................... .............599,117,605 .............633,910,15347. Surplus December 31, current year (Lines 32 + 46) (Page 3, Line 30).............................................................................................................. ..........7,725,613,924 ..........7,126,496,319
DETAILS OF WRITE-INS08.301. Miscellaneous income.................................................................................................................................................................................. .................1,675,033 ....................614,59308.302. Fees from third party for services provided................................................................................................................................................. ...............15,805,655 ...............22,035,04008.303. ...................................................................................................................................................................................................................... ................................... ...................................08.398. Summary of remaining write-ins for Line 8.3 from overflow page............................................................................................................... ...............................0 ...............................008.399. Totals (Lines 08.301 through 08.303 plus 08.398) (Line 8.3 above).......................................................................................................... ...............17,480,688 ...............22,649,6332501. Retirement and disability benefits................................................................................................................................................................ .................3,846,386 .................4,859,6642502. Employee benefits........................................................................................................................................................................................ .................1,579,238 .................2,004,6962503. Expenses related to services provided to third party................................................................................................................................... ...............15,723,155 ...............21,950,0232598. Summary of remaining write-ins for Line 25 from overflow page................................................................................................................ ...............12,100,000 ...............................02599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above).................................................................................................................... ...............33,248,780 ...............28,814,3834501. Pension liability adjustment.......................................................................................................................................................................... ...............87,027,567 ...............75,149,1984502. ...................................................................................................................................................................................................................... ................................... ...................................4503. ...................................................................................................................................................................................................................... ................................... ...................................4598. Summary of remaining write-ins for Line 45 from overflow page................................................................................................................ ...............................0 ...............................04599. Totals (Lines 4501 through 4503 plus 4598) (Line 45 above).................................................................................................................... ...............87,027,567 ...............75,149,198
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
5
CASH FLOW1 2
Current Year Prior Year CASH FROM OPERATIONS
1. Premiums collected net of reinsurance.......................................................................................................................................... ..................5,523,096,290 ..................5,569,349,5232. Net investment income................................................................................................................................................................... ..................2,288,516,197 ..................2,303,297,9553. Miscellaneous income.................................................................................................................................................................... .....................625,398,374 .....................615,467,4904. Total (Lines 1 through 3)................................................................................................................................................................ ..................8,437,010,861 ..................8,488,114,9675. Benefit and loss related payments................................................................................................................................................. ..................4,214,641,383 ..................4,044,344,5636. Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts.......................................................... .....................923,262,543 ..................1,445,526,8827. Commissions, expenses paid and aggregate write-ins for deductions......................................................................................... ..................1,064,911,856 ..................1,093,746,9208. Dividends paid to policyholders..................................................................................................................................................... .....................310,522,535 .....................239,401,9609. Federal and foreign income taxes paid (recovered) net of $..........0 tax on capital gains (losses).............................................. ........................................... ...........................................10. Total (Lines 5 through 9)................................................................................................................................................................ ..................6,513,338,316 ..................6,823,020,32511. Net cash from operations (Line 4 minus Line 10).......................................................................................................................... ..................1,923,672,544 ..................1,665,094,642
CASH FROM INVESTMENTS12. Proceeds from investments sold, matured or repaid:
12.1 Bonds................................................................................................................................................................................... ................17,551,344,813 ................16,631,516,88112.2 Stocks................................................................................................................................................................................... .....................922,869,011 .....................752,542,63212.3 Mortgage loans.................................................................................................................................................................... .....................808,847,236 .....................920,785,04112.4 Real estate........................................................................................................................................................................... ............................758,740 ............................290,70612.5 Other invested assets.......................................................................................................................................................... .....................883,482,275 .....................863,140,24912.6 Net gains or (losses) on cash, cash equivalents and short-term investments................................................................... ..............................71,538 .........................1,260,94012.7 Miscellaneous proceeds...................................................................................................................................................... ........................................... .......................44,386,03012.8 Total investment proceeds (Lines 12.1 to 12.7).................................................................................................................. ................20,167,373,613 ................19,213,922,480
13. Cost of investments acquired (long-term only):13.1 Bonds................................................................................................................................................................................... ................18,924,248,958 ................18,093,831,83513.2 Stocks................................................................................................................................................................................... ..................1,008,097,586 .....................892,344,33713.3 Mortgage loans.................................................................................................................................................................... ..................1,033,614,568 ..................1,100,830,23613.4 Real estate........................................................................................................................................................................... .......................13,038,077 .........................2,655,35313.5 Other invested assets.......................................................................................................................................................... .....................592,438,856 .....................433,569,30813.6 Miscellaneous applications.................................................................................................................................................. .....................791,293,895 .......................67,088,30413.7 Total investments acquired (Lines 13.1 to 13.6)................................................................................................................. ................22,362,731,940 ................20,590,319,372
14. Net increase (decrease) in contract loans and premium notes..................................................................................................... ........................(5,624,359) ......................(19,785,709)15. Net cash from investments (Line 12.8 minus Lines 13.7 minus Line 14)..................................................................................... .................(2,189,733,967) .................(1,356,611,184)
CASH FROM FINANCING AND MISCELLANEOUS SOURCES16. Cash provided (applied):
16.1 Surplus notes, capital notes................................................................................................................................................. ........................................... ...........................................16.2 Capital and paid in surplus, less treasury stock.................................................................................................................. ........................................... ...........................................16.3 Borrowed funds.................................................................................................................................................................... ........................................... ...........................................16.4 Net deposits on deposit-type contracts and other insurance liabilities............................................................................... .......................56,948,071 .......................18,802,29616.5 Dividends to stockholders.................................................................................................................................................... ........................................... ...........................................16.6 Other cash provided (applied)............................................................................................................................................. .....................131,433,681 ......................(22,143,543)
17. Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)................................. .....................188,381,752 ........................(3,341,247)
RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS18. Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17).......................................... ......................(77,679,671) .....................305,142,21119. Cash, cash equivalents and short-term investments:
19.1 Beginning of year................................................................................................................................................................. ..................1,808,324,077 ..................1,503,181,866
19.2 End of year (Line 18 plus Line 19.1)................................................................................................................................... ..................1,730,644,406 ..................1,808,324,077
Note: Supplemental disclosures of cash flow information for non-cash transactions:20.0001 Mortgage Loan Refinancing................................................................................................................................................ .....................142,612,793 .....................157,892,770
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
6
ANALYSIS OF OPERATIONS BY LINES OF BUSINESS1 Insurance 8 9
2 3 4 5 6 7Aggregate of Total
Life Individual Supplementary Accident All Other Lines (Columns 2)Total Insurance Annuities Contracts and Health of Business through 6) Fraternal Expense
1. Premiums and annuity considerations for life and accident and health contracts................................................................................. ...........5,450,605,928 ........1,559,364,898 ........3,571,694,227 ............................... ...........319,546,803 .............................. ........5,450,605,928 ............................... ...............................2. Considerations for supplementary contracts with life contingencies..................................................................................................... ................78,072,928 ............................... ............................... .............78,072,928 ............................... .............................. .............78,072,928 ............................... ...............................3. Net investment income........................................................................................................................................................................ ...........2,768,468,228 ........1,236,405,143 ...........705,103,534 ...........174,222,598 ...........308,231,644 ..........344,505,309 ........2,768,468,228 ............................... ...............................4. Amortization of interest maintenance reserve (IMR)............................................................................................................................ ..............118,180,695 .............23,048,165 .............24,636,856 ...............6,891,857 ...............4,458,606 ............59,145,211 ...........118,180,695 ............................... ...............................5. Separate Accounts net gain from operations excluding unrealized gains or losses.............................................................................. .................2,500,000 ............................... ...............1,300,000 ............................... ............................... ..............1,200,000 ...............2,500,000 ............................... ...............................6. Commissions and expense allowances on reinsurance ceded............................................................................................................. ................27,813,232 .............27,813,232 ............................... ............................... ............................... .............................. .............27,813,232 ............................... ...............................7. Reserve adjustments on reinsurance ceded........................................................................................................................................ ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................8. Miscellaneous Income:
8.1 Fees associated with income from investment management, administration and contract guarantees from Separate Accounts... ..............580,104,456 .............41,261,025 ...........537,439,076 ...............1,404,355 ............................... .............................. ...........580,104,456 ............................... ...............................8.2 Charges and fees for deposit-type contracts................................................................................................................................ ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................8.3 Aggregate write-ins for miscellaneous income.............................................................................................................................. ................17,480,686 .....................8,175 ............................0 ............................0 ...................47,408 ............17,425,103 .............17,480,686 ............................0 ............................0
9. Totals (Lines 1 to 8.3).......................................................................................................................................................................... ...........9,043,226,155 ........2,887,900,640 ........4,840,173,692 ...........260,591,738 ...........632,284,462 ..........422,275,623 ........9,043,226,155 ............................0 ............................010. Death benefits..................................................................................................................................................................................... ...........1,005,019,661 ........1,005,019,661 ............................... ............................... ............................... .............................. ........1,005,019,661 ............................... ...............................11. Matured endowments (excluding guaranteed annual pure endowments)............................................................................................. .................9,928,652 ...............9,928,652 ............................... ............................... ............................... .............................. ...............9,928,652 ............................... ...............................12. Annuity benefits................................................................................................................................................................................... ..............718,538,983 ............................... ...........718,538,983 ............................... ............................... .............................. ...........718,538,983 ............................... ...............................13. Disability benefits and benefits under accident and health contracts, including premiums waived $.....37,322,543.............................. ..............348,279,236 .............20,017,082 ...................62,837 ............................... ...........328,199,317 .............................. ...........348,279,236 ............................... ...............................14. Surrender benefits and withdrawals for life contracts........................................................................................................................... ...........1,927,702,005 ...........384,942,909 ........1,537,889,225 ...............4,869,686 ........................185 .............................. ........1,927,702,005 ............................... ...............................15. Interest and adjustments on contract or deposit-type contract funds.................................................................................................... ..............121,218,100 ...............8,559,502 .............22,267,752 .............90,378,839 ...................12,006 .............................. ...........121,218,100 ............................... ...............................16. Payments on supplementary contracts with life contingencies............................................................................................................. ..............215,841,443 ............................... ............................... ...........215,841,443 ............................... .............................. ...........215,841,443 ............................... ...............................17. Increase in aggregate reserve for life and accident and health certificates and contracts..................................................................... ...........1,711,780,058 ...........571,206,445 ...........854,689,189 ...........(64,243,146) ...........350,127,570 .............................. ........1,711,780,058 ............................... ...............................18. Totals (Lines 10 to 17)......................................................................................................................................................................... ...........6,058,308,137 ........1,999,674,251 ........3,133,447,986 ...........246,846,821 ...........678,339,079 ...........................0 ........6,058,308,137 ............................0 ............................019. Commissions on premiums and annuity considerations and deposit-type funds (direct business only)................................................ ..............285,876,413 .............89,955,926 ...........176,713,753 .................337,828 .............18,868,906 .............................. ...........285,876,413 ............................... ...............................20. Commissions and expense allowances on reinsurance assumed........................................................................................................ ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................21. General insurance expenses and fraternal expenses........................................................................................................................... ..............747,338,141 ...........220,571,547 ...........300,834,677 .............13,080,031 .............40,696,335 .............................. ...........575,182,590 ...........172,155,550 ...............................22. Insurance taxes, licenses and fees..................................................................................................................................................... ................33,949,251 .............11,131,899 .............18,868,148 .................666,288 ...............2,278,557 .............................. .............32,944,891 ...............1,004,359 ...............................23. Increase in loading on deferred and uncollected premiums.................................................................................................................. ................(4,341,539) .............(4,341,540) ............................1 ............................... ............................... .............................. .............(4,341,539) ............................... ...............................24. Net transfers to or (from) Separate Accounts net of reinsurance.......................................................................................................... ..............902,214,797 .............47,352,750 ...........858,322,882 .............(3,460,835) ............................... .............................. ...........902,214,797 ............................... ...............................25. Aggregate write-ins for deductions...................................................................................................................................................... ................33,248,780 ...........107,028,626 .............89,310,122 ...........(14,093,833) ...........(35,879,815) .........(113,116,320) .............33,248,780 ............................0 ............................026. Totals (Lines 18 to 25)......................................................................................................................................................................... ...........8,056,593,979 ........2,471,373,458 ........4,577,497,569 ...........243,376,300 ...........704,303,062 .........(113,116,320) ........7,883,434,069 ...........173,159,910 ............................027. Net gain from operations before refunds to members (Line 9 minus Line 26)....................................................................................... ..............986,632,176 ...........416,527,182 ...........262,676,123 .............17,215,438 ...........(72,018,600) ..........535,391,943 ........1,159,792,086 ..........(173,159,910) ............................028. Refunds to members........................................................................................................................................................................... ..............315,385,410 ...........305,549,675 .................362,662 ...............1,747,991 ...............7,725,082 .............................. ...........315,385,410 ............................... ...............................29. Net gain from operations after refunds to members and before realized capital gains or (losses) (Line 27 minus Line 28)................... ..............671,246,766 ...........110,977,506 ...........262,313,461 .............15,467,447 ...........(79,743,682) ..........535,391,943 ...........844,406,676 ..........(173,159,910) ............................0
DETAILS OF WRITE-INS08.301. Miscellaneous income.................................................................................................................................................................. .................1,675,031 .....................8,175 ............................... ............................... ...................47,408 ..............1,619,448 ...............1,675,031 ............................... ...............................08.302. Fees from third party for services provided................................................................................................................................... ................15,805,655 ............................... ............................... ............................... ............................... ............15,805,655 .............15,805,655 ............................... ...............................08.303. .................................................................................................................................................................................................... ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................08.398. Summary of remaining write-ins for Item 8.3 from overflow page................................................................................................. ...............................0 ............................0 ............................0 ............................0 ............................0 ...........................0 ............................0 ............................0 ............................008.399. Totals (Lines 08.301 through 08.303 plus 08.398 above) (Line 8.3 above)................................................................................... ................17,480,686 .....................8,175 ............................0 ............................0 ...................47,408 ............17,425,103 .............17,480,686 ............................0 ............................02501. Retirement and disability benefits................................................................................................................................................ .................3,846,386 ............................... ............................... ............................... ............................... ..............3,846,386 ...............3,846,386 ............................... ...............................2502. Employee benefits....................................................................................................................................................................... .................1,579,238 ............................... ............................... ............................... ............................... ..............1,579,238 ...............1,579,238 ............................... ...............................2503. Expenses related to services provided to third party..................................................................................................................... ................15,723,155 ............................... ............................... ............................... ............................... ............15,723,155 .............15,723,155 ............................... ...............................2598. Summary of remaining write-ins for Item 25 from overflow page.................................................................................................. ................12,100,000 ...........107,028,626 .............89,310,122 ...........(14,093,833) ...........(35,879,815) .........(134,265,100) .............12,100,000 ............................0 ............................02599. Totals (Lines 2501 through 2503 plus 2598 above) (Line 25 above)............................................................................................. ................33,248,780 ...........107,028,626 .............89,310,122 ...........(14,093,833) ...........(35,879,815) .........(113,116,320) .............33,248,780 ............................0 ............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
7
ANALYSIS OF INCREASE IN RESERVES DURING THE YEAR1 2 3 4
Life SupplementaryTotal Insurance Annuities Contracts
Involving Life or Disability Contingencies (Reserves)
(Net of Reinsurance Ceded)
1. Reserve December 31, prior year................................................................................................................................................................ ...............................................37,009,706,360 ...............................................22,318,161,920 ...............................................13,050,510,204 .................................................1,641,034,236
2. Tabular net premiums or considerations...................................................................................................................................................... .................................................5,118,941,913 .................................................1,475,578,916 .................................................3,565,837,996 .....................................................77,525,001
3. Present value of disability claims incurred................................................................................................................................................... .....................................................24,719,708 .....................................................24,719,708 ........................................................................ .............................XXX....................................
4. Tabular interest........................................................................................................................................................................................... .................................................1,343,982,815 ...................................................876,125,572 ...................................................392,405,512 .....................................................75,451,731
5. Tabular less actual reserve released........................................................................................................................................................... .....................................................50,825,612 .....................................................11,242,136 .....................................................38,529,170 .......................................................1,054,306
6. Increase in reserve on account of change in valuation basis........................................................................................................................ .....................................................................0 ........................................................................ ........................................................................ ........................................................................
7. Other increases (net)................................................................................................................................................................................... .....................................................49,750,994 .....................................................55,928,694 ......................................................(6,177,700) ........................................................................
8. Totals (Lines 1 to 7)..................................................................................................................................................................................... ...............................................43,597,927,402 ...............................................24,761,756,946 ...............................................17,041,105,182 .................................................1,795,065,274
9. Tabular cost................................................................................................................................................................................................ ...................................................934,770,547 ...................................................934,770,547 ........................................................................ .............................XXX....................................
10. Reserves released by death........................................................................................................................................................................ ...................................................504,828,688 ...................................................504,828,688 .............................XXX.................................... .............................XXX....................................
11. Reserves released by other terminations (net)............................................................................................................................................. .................................................1,182,691,706 ...................................................401,173,170 ...................................................560,609,482 ...................................................220,909,054
12. Annuity, supplementary contract and disability payments involving life contingencies.................................................................................. .................................................1,690,100,872 .....................................................19,807,059 .................................................1,672,928,683 ......................................................(2,634,870)
13. Net transfers to or (from) Separate Accounts............................................................................................................................................... ...................................................913,970,660 .....................................................11,603,038 ...................................................902,367,622 ........................................................................
14. Total deductions (Lines 9 to 13)................................................................................................................................................................... .................................................5,226,362,473 .................................................1,872,182,502 .................................................3,135,905,787 ...................................................218,274,184
15. Reserve December 31, current year............................................................................................................................................................ ...............................................38,371,564,929 ...............................................22,889,574,444 ...............................................13,905,199,395 .................................................1,576,791,090
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
8
EXHIBIT OF NET INVESTMENT INCOME1 2
Collected EarnedDuring Year During Year
1. U.S. government bonds........................................................................................................................................................ (a)..............................47,842,861 ..................................48,292,4821.1 Bonds exempt from U.S. tax................................................................................................................................................. (a)................................................. .....................................................1.2 Other bonds (unaffiliated)...................................................................................................................................................... (a).........................1,654,696,156 .............................1,622,179,0201.3 Bonds of affiliates.................................................................................................................................................................. (a)................................................. .....................................................2.1 Preferred stocks (unaffiliated)............................................................................................................................................... (b)................................6,603,058 ....................................6,838,854
2.11 Preferred stocks of affiliates.................................................................................................................................................. (b)................................................. .....................................................2.2 Common stocks (unaffiliated)................................................................................................................................................ ..................................21,143,396 ..................................21,430,931
2.21 Common stocks of affiliates.................................................................................................................................................. ....................................2,695,171 ....................................2,695,1713. Mortgage loans..................................................................................................................................................................... (c)............................399,143,128 ................................399,145,3864. Real estate............................................................................................................................................................................ (d)..............................24,231,935 ..................................24,231,9365. Contract loans....................................................................................................................................................................... ..................................84,163,720 ..................................83,748,9006. Cash, cash equivalents and short-term investments............................................................................................................ (e)..............................13,189,370 ..................................13,417,4657. Derivative instruments........................................................................................................................................................... (f).................................................. ....................................2,378,2488. Other invested assets........................................................................................................................................................... ................................592,031,775 ................................592,031,7759. Aggregate write-ins for investment income........................................................................................................................... ....................................1,631,598 ....................................1,631,598
10. Total gross investment income............................................................................................................................................. .............................2,847,372,169 .............................2,818,021,76511. Investment expenses.................................................................................................................................................................................................................... (g)..............................38,671,37012. Investment taxes, licenses and fees, excluding federal income taxes.......................................................................................................................................... (g)................................3,006,91113. Interest expense............................................................................................................................................................................................................................ (h).................................................14. Depreciation on real estate and other invested assets................................................................................................................................................................. (i).................................6,683,27515. Aggregate write-ins for deductions from investment income........................................................................................................................................................ ....................................1,191,98116. Total deductions (Lines 11 through 15)......................................................................................................................................................................................... ..................................49,553,53717. Net investment income (Line 10 minus Line 16)........................................................................................................................................................................... .............................2,768,468,228
DETAILS OF WRITE-INS0901. Miscellaneous Investment income........................................................................................................................................ .......................................265,930 .......................................265,9300902. Securities lending.................................................................................................................................................................. ....................................1,365,668 ....................................1,365,6680903. .............................................................................................................................................................................................. ..................................................... .....................................................0998. Summary of remaining write-ins for Line 9 from overflow page............................................................................................ ..................................................0 ..................................................00999. Totals (Lines 0901 through 0903 plus 0998) (Line 9 above)................................................................................................. ....................................1,631,598 ....................................1,631,5981501. Investment expenses.................................................................................................................................................................................................................... ....................................1,191,9811502. ...................................................................................................................................................................................................................................................... .....................................................1503. ...................................................................................................................................................................................................................................................... .....................................................1598. Summary of remaining write-ins for Line 15 from overflow page.................................................................................................................................................. ..................................................01599. Totals (Lines 1501 through 1503 plus 1598) (Line 15 above)....................................................................................................................................................... ....................................1,191,981
(a) Includes $.....33,151,235 accrual of discount less $.....94,112,813 amortization of premium and less $.....12,010,700 paid for accrued interest on purchases.(b) Includes $..........0 accrual of discount less $..........0 amortization of premium and less $..........0 paid for accrued dividends on purchases.(c) Includes $..........0 accrual of discount less $..........0 amortization of premium and less $..........0 paid for accrued interest on purchases.(d) Includes $.....23,741,911 for company's occupancy of its own buildings; and excludes $..........0 interest on encumbrances.(e) Includes $.....1,965,558 accrual of discount less $.....1,350,682 amortization of premium and less $..........0 paid for accrued interest on purchases.(f) Includes $..........0 accrual of discount less $..........0 amortization of premium.(g) Includes $..........0 investment expenses and $..........0 investment taxes, licenses and fees, excluding federal income taxes, attributable to segregated and Separate Accounts.(h) Includes $..........0 interest on surplus notes and $..........0 interest on capital notes.(i) Includes $.....6,683,275 depreciation on real estate and $..........0 depreciation on other invested assets.
EXHIBIT OF CAPITAL GAINS (LOSSES)1 2 3 4 5
Realized Change inGain (Loss) Other Total Realized Change in Unrealized
on Sales Realized Capital Gain (Loss) Unrealized Foreign Exchangeor Maturity Adjustments (Columns 1 + 2) Capital Gain (Loss) Capital Gain (Loss)
1. U.S. government bonds................................................................ ....................8,238,973 ..................................... ....................8,238,973 ..................................... .....................................1.1 Bonds exempt from U.S. tax........................................................ ..................................... ..................................... ..................................0 ..................................... .....................................1.2 Other bonds (unaffiliated)............................................................. ................104,150,733 .................(23,779,729) ..................80,371,004 ....................4,204,726 ...................(4,837,435)1.3 Bonds of affiliates......................................................................... ..................................... ..................................... ..................................0 ..................................... .....................................2.1 Preferred stocks (unaffiliated)...................................................... .......................799,772 ..................................... .......................799,772 ..................................... .....................................
2.11 Preferred stocks of affiliates......................................................... ..................................... ..................................... ..................................0 ..................................... .....................................2.2 Common stocks (unaffiliated)....................................................... ..................66,859,804 .............................(638) ..................66,859,166 ..................83,929,038 .....................................
2.21 Common stocks of affiliates......................................................... ..................................... ..................................... ..................................0 ..................15,792,717 .....................................3. Mortgage loans............................................................................. ........................(33,928) ...................(6,504,697) ...................(6,538,625) ..................................... .....................................4. Real estate................................................................................... .......................202,286 ..................................... .......................202,286 ..................................... .....................................5. Contract loans.............................................................................. ..................................... ..................................... ..................................0 ..................................... .....................................6. Cash, cash equivalents and short-term investments.................... .........................71,538 ..................................... .........................71,538 ..................................... .....................................7. Derivative instruments.................................................................. ...............(146,860,148) ..................................... ...............(146,860,148) ..................10,544,028 ...................(1,618,101)8. Other invested assets................................................................... ...................(4,206,581) ...................(3,208,520) ...................(7,415,101) .................(38,857,278) ...................(1,271,929)9. Aggregate write-ins for capital gains (losses)............................... ..........................(2,026) ..................................0 ..........................(2,026) ..................................0 ..................................0
10. Total capital gains (losses)........................................................... ..................29,220,423 .................(33,493,584) ...................(4,273,161) ..................75,613,231 ...................(7,727,465)DETAILS OF WRITE-INS
0901. Miscellaneous Capital Gains/Losses............................................ ..........................(2,026) ..................................... ..........................(2,026) ..................................... .....................................0902. ..................................................................................................... ..................................... ..................................... ..................................0 ..................................... .....................................0903. ..................................................................................................... ..................................... ..................................... ..................................0 ..................................... .....................................0998. Summary of remaining write-ins for Line 9 from overflow page... ..................................0 ..................................0 ..................................0 ..................................0 ..................................00999. Totals (Lines 0901 through 0903 plus 0998) (Line 9 above)........ ..........................(2,026) ..................................0 ..........................(2,026) ..................................0 ..................................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
9
EXHIBIT 1 - PART 1 - PREMIUMS AND ANNUITY CONSIDERATIONS FOR LIFE AND ACCIDENT AND HEALTH CONTRACTS1 Insurance 7 8
2 3 4 5 6Life Individual Accident Aggregate of All Total
Total Insurance Annuities and Health Other Lines of Business (Columns 2 through 5) Fraternal ExpenseFIRST YEAR (other than single)
1. Uncollected............................................................................................................. ............................(1,310,282) ............................(1,334,993) ............................................. ..................................24,711 ............................................. ............................(1,310,282) ............................................. ............................................. 2. Deferred and accrued............................................................................................. .............................6,409,609 .............................6,409,609 ............................................. ............................................. ............................................. .............................6,409,609 ............................................. ............................................. 3. Deferred, accrued & uncollected:
3.1 Direct............................................................................................................... ...........................11,706,623 ...........................11,681,912 ............................................. ..................................24,711 ............................................. ...........................11,706,623 ............................................. .............................................3.2 Reinsurance assumed..................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................3.3 Reinsurance ceded.......................................................................................... .............................6,607,295 .............................6,607,295 ............................................. ............................................. ............................................. .............................6,607,295 ............................................. .............................................3.4 Net (Line 1 + Line 2)........................................................................................ .............................5,099,327 .............................5,074,617 ..........................................0 ..................................24,711 ..........................................0 .............................5,099,327 ..........................................0 ..........................................0
4. Advance................................................................................................................. ...................................2,591 ............................................. ............................................. ...................................2,591 ............................................. ...................................2,591 ............................................. ............................................. 5. Line 3.4 - Line 4...................................................................................................... .............................5,096,737 .............................5,074,617 ..........................................0 ..................................22,120 ..........................................0 .............................5,096,737 ..........................................0 ..........................................0 6. Collected during year:
6.1 Direct............................................................................................................... ......................2,019,677,080 ...........................95,790,813 ......................1,901,153,758 ...........................22,732,509 ............................................. ......................2,019,677,080 ............................................. .............................................6.2 Reinsurance assumed..................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................6.3 Reinsurance ceded.......................................................................................... ...........................11,128,062 ...........................11,128,062 ............................................. ............................................. ............................................. ...........................11,128,062 ............................................. .............................................6.4 Net................................................................................................................... ......................2,008,549,019 ...........................84,662,752 ......................1,901,153,758 ...........................22,732,509 ..........................................0 ......................2,008,549,019 ..........................................0 ..........................................0
7. Line 5 + Line 6.4..................................................................................................... ......................2,013,645,755 ...........................89,737,368 ......................1,901,153,758 ...........................22,754,629 ..........................................0 ......................2,013,645,755 ..........................................0 ..........................................0 8. Prior year (uncollected + deferred and accrued - advance)...................................... .............................4,016,310 .............................3,994,927 ............................................. ..................................21,382 ............................................. .............................4,016,310 ............................................. ............................................. 9. First year premiums and considerations:
9.1 Direct............................................................................................................... ......................2,022,858,481 ...........................98,971,476 ......................1,901,153,758 ...........................22,733,247 ............................................. ......................2,022,858,481 ............................................. .............................................9.2 Reinsurance assumed..................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................9.3 Reinsurance ceded.......................................................................................... ...........................13,229,035 ...........................13,229,035 ............................................. ............................................. ............................................. ...........................13,229,035 ............................................. .............................................9.4 Net (Line 7 - Line 8)......................................................................................... ......................2,009,629,446 ...........................85,742,441 ......................1,901,153,758 ...........................22,733,247 ..........................................0 ......................2,009,629,446 ..........................................0 ..........................................0
SINGLE10. Single premiums and considerations:
10.1 Direct............................................................................................................. .........................995,541,928 .........................461,570,712 .........................533,971,216 ............................................. ............................................. .........................995,541,928 ............................................. .............................................10.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................10.3 Reinsurance ceded........................................................................................ .............................7,875,990 .............................7,875,990 ............................................. ............................................. ............................................. .............................7,875,990 ............................................. .............................................10.4 Net................................................................................................................. .........................987,665,938 .........................453,694,722 .........................533,971,216 ..........................................0 ..........................................0 .........................987,665,938 ..........................................0 ..........................................0
RENEWAL11. Uncollected............................................................................................................. ............................(1,501,345) ............................(3,337,198) ......................................127 .............................1,835,726 ............................................. ............................(1,501,345) ............................................. .............................................12. Deferred and accrued............................................................................................. ...........................54,410,636 ...........................54,410,636 ............................................. ............................................. ............................................. ...........................54,410,636 ............................................. .............................................13. Deferred, accrued & uncollected:
13.1 Direct............................................................................................................. .........................126,815,868 .........................124,980,015 ......................................127 .............................1,835,726 ............................................. .........................126,815,868 ............................................. .............................................13.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................13.3 Reinsurance ceded........................................................................................ ...........................73,906,576 ...........................73,906,576 ............................................. ............................................. ............................................. ...........................73,906,576 ............................................. .............................................13.4 Net (Line 11 + Line 12).................................................................................. ...........................52,909,292 ...........................51,073,439 ......................................127 .............................1,835,726 ..........................................0 ...........................52,909,292 ..........................................0 ..........................................0
14. Advance................................................................................................................. ...........................15,461,448 .............................5,154,450 ......................................259 ...........................10,306,739 ............................................. ...........................15,461,448 ............................................. .............................................15. Line 13.4 - Line 14.................................................................................................. ...........................37,447,843 ...........................45,918,989 .....................................(133) ............................(8,471,013) ..........................................0 ...........................37,447,843 ..........................................0 ..........................................016. Collected during year:
16.1 Direct............................................................................................................. ......................2,550,474,636 ......................1,116,878,940 ......................1,136,569,059 .........................297,026,638 ............................................. ......................2,550,474,636 ............................................. .............................................16.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................16.3 Reinsurance ceded........................................................................................ ...........................91,232,739 ...........................91,063,579 ............................................. ................................169,159 ............................................. ...........................91,232,739 ............................................. .............................................16.4 Net................................................................................................................. ......................2,459,241,897 ......................1,025,815,360 ......................1,136,569,059 .........................296,857,478 ..........................................0 ......................2,459,241,897 ..........................................0 ..........................................0
17. Line 15 + Line 16.4................................................................................................. ......................2,496,689,741 ......................1,071,734,349 ......................1,136,568,926 .........................288,386,466 ..........................................0 ......................2,496,689,741 ..........................................0 ..........................................018. Prior year (uncollected + deferred and accrued - advance)...................................... ...........................43,379,196 ...........................51,806,614 .....................................(327) ............................(8,427,091) ............................................. ...........................43,379,196 ............................................. .............................................19. Renewal premiums and considerations:
19.1 Direct............................................................................................................. ......................2,551,424,180 ......................1,117,872,211 ......................1,136,569,253 .........................296,982,716 ............................................. ......................2,551,424,180 ............................................. .............................................19.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................19.3 Reinsurance ceded........................................................................................ ...........................98,113,635 ...........................97,944,476 ............................................. ................................169,159 ............................................. ...........................98,113,635 ............................................. .............................................19.4 Net (Line 17 - Line 18)................................................................................... ......................2,453,310,545 ......................1,019,927,735 ......................1,136,569,253 .........................296,813,557 ..........................................0 ......................2,453,310,545 ..........................................0 ..........................................0
TOTAL20. Total premiums and annuity considerations:
20.1 Direct............................................................................................................. ......................5,569,824,589 ......................1,678,414,399 ......................3,571,694,227 .........................319,715,963 ..........................................0 ......................5,569,824,589 ..........................................0 ..........................................020.2 Reinsurance assumed................................................................................... ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................020.3 Reinsurance ceded........................................................................................ .........................119,218,660 .........................119,049,501 ..........................................0 ................................169,159 ..........................................0 .........................119,218,660 ..........................................0 ..........................................020.4 Net (Lines 9.4 + 10.4 + 19.4)......................................................................... ......................5,450,605,928 ......................1,559,364,898 ......................3,571,694,227 .........................319,546,803 ..........................................0 ......................5,450,605,928 ..........................................0 ..........................................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
10
EXHIBIT 1 - PART 2 - REFUNDS APPLIED, REINSURANCE COMMISSIONS AND EXPENSEALLOWANCES AND COMMISSIONS INCURRED (direct business only)
1 Insurance 7 82 3 4 5 6
Individual Accident and Aggregate of All Total (Columns 2Total Life Insurance Annuities Health Other Lines of Business through 5) Fraternal Expense
REFUNDS APPLIED (included in Part 1)
21. To pay renewal premiums.............................................................................................................. ........................92,471,343 ........................92,001,271 ........................................... .............................470,072 ........................................... ........................92,471,343 ........................................... ...........................................
22. All other.......................................................................................................................................... ......................190,596,846 ......................190,596,846 ........................................... ........................................... ........................................... ......................190,596,846 ........................................... ...........................................
REINSURANCE COMMISSIONS AND EXPENSE ALLOWANCES INCURRED
23. First year (other than single):
23.1 Reinsurance ceded............................................................................................................... ..........................9,882,023 ..........................9,882,023 ........................................... ........................................... ........................................... ..........................9,882,023 ........................................... ...........................................
23.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................... ........................................... ........................................... ........................................... ........................................0 ........................................... ...........................................
23.3 Net ceded less assumed....................................................................................................... ..........................9,882,023 ..........................9,882,023 ........................................0 ........................................0 ........................................0 ..........................9,882,023 ........................................0 ........................................0
24. Single:
24.1 Reinsurance ceded............................................................................................................... .............................692,412 .............................692,412 ........................................... ........................................... ........................................... .............................692,412 ........................................... ...........................................
24.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................... ........................................... ........................................... ........................................... ........................................0 ........................................... ...........................................
24.3 Net ceded less assumed....................................................................................................... .............................692,412 .............................692,412 ........................................0 ........................................0 ........................................0 .............................692,412 ........................................0 ........................................0
25. Renewal:
25.1 Reinsurance ceded............................................................................................................... ........................17,238,798 ........................17,238,798 ........................................... ........................................... ........................................... ........................17,238,798 ........................................... ...........................................
25.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................... ........................................... ........................................... ........................................... ........................................0 ........................................... ...........................................
25.3 Net ceded less assumed....................................................................................................... ........................17,238,798 ........................17,238,798 ........................................0 ........................................0 ........................................0 ........................17,238,798 ........................................0 ........................................0
26. Totals:
26.1 Reinsurance ceded (Page 6, Line 6)..................................................................................... ........................27,813,232 ........................27,813,232 ........................................0 ........................................0 ........................................0 ........................27,813,232 ........................................0 ........................................0
26.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................0 ........................................0 ........................................0 ........................................0 ........................................0 ........................................0 ........................................0
26.3 Net ceded less assumed....................................................................................................... ........................27,813,232 ........................27,813,232 ........................................0 ........................................0 ........................................0 ........................27,813,232 ........................................0 ........................................0
COMMISSIONS INCURRED (direct business only)
27. First year (other than single).......................................................................................................... ......................199,193,356 ........................79,146,631 ......................111,094,502 ..........................8,952,223 ........................................... ......................199,193,356 ........................................... ...........................................
28. Single............................................................................................................................................. ........................30,765,187 ........................10,761,378 ........................20,003,808 ........................................... ........................................... ........................30,765,187 ........................................... ...........................................
29. Renewal......................................................................................................................................... ........................55,580,042 ...............................47,916 ........................45,615,442 ..........................9,916,683 ........................................... ........................55,580,042 ........................................... ...........................................
30. Deposit-type contract funds............................................................................................................ .............................337,828 ........................................... .............................337,828 ........................................... ........................................... .............................337,828 ........................................... ...........................................
31. Totals (to agree with Page 6, Line 19)........................................................................................... ......................285,876,412 ........................89,955,926 ......................177,051,581 ........................18,868,906 ........................................0 ......................285,876,412 ........................................0 ........................................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
11
EXHIBIT 2 - GENERAL EXPENSESInsurance 5 6 7
1 Accident and Health 42 3 Aggregate of
Cost All All Other LinesLife Containment Other of Business Investment Fraternal Total
1. Rent.................................................................................................. ......24,877,246 .............13,959 ........1,829,292 ......................... - .................... ........1,052,003 ......27,772,5002. Salaries and wages.......................................................................... ....215,874,065 ........1,494,196 ......16,116,361 ......................... ......27,860,316 ......22,550,441 ....283,895,379
3.11 Insured benefit plans for employees................................................ ......36,035,542 ...........311,652 ........3,361,470 ......................... ........4,116,441 ........6,572,379 ......50,397,4843.12 Insured benefit plans for fieldworkers............................................... ......50,383,411 ...........299,414 ........3,229,475 ......................... ......................2 .......(3,626,997) ......50,285,3053.21 Uninsured benefit plans for employees............................................ ........7,055,661 .............27,024 ...........291,483 ......................... .............17,773 ...........376,630 ........7,768,5713.22 Uninsured benefit plans for fieldworkers.......................................... ........4,680,617 .............27,826 ...........300,135 ......................... - .................... ..........(337,435) ........4,671,1433.31 Other employee welfare................................................................... ........1,522,203 ...............5,053 .............54,497 ......................... ...............6,883 .............81,386 ........1,670,0223.32 Other fieldworker welfare................................................................. ........2,360,632 .............12,864 ...........138,754 ......................... ..................418 ...........303,423 ........2,816,0914.1 Legal fees and expenses................................................................. ........7,131,273 .............31,282 ...........337,407 ......................... ...........124,899 ...........368,258 ........7,993,1194.2 Medical examination fees................................................................. ........2,836,732 .............46,565 ...........502,253 ......................... ......................... ...........270,285 ........3,655,8354.3 Inspection report fees....................................................................... ...........464,504 ...............6,046 .............65,215 ......................... ....................18 .............31,443 ...........567,2264.4 Fees of public accountants and consulting actuaries....................... ...........597,045 ...............3,418 .............36,862 ......................... .............20,931 ...............3,638 ...........661,8944.5 Expense of investigation and settlement of certificate claims.......... ...........191,127 ...............3,072 .............33,133 ......................... ....................60 .............16,889 ...........244,2815.1 Traveling expenses.......................................................................... ......11,190,936 .............64,870 ...........699,685 ......................... ...........310,846 ........2,966,455 ......15,232,7925.2 Advertising........................................................................................ ......13,759,441 .............62,830 ...........677,684 ......................... .............38,747 ........2,445,484 ......16,984,1865.3 Postage, express, telegraph and telephone..................................... ........9,853,038 .............96,534 ........1,041,215 ......................... .............47,086 ........1,166,857 ......12,204,7305.4 Printing and stationery...................................................................... ........8,168,252 .............43,513 ...........469,332 ......................... .............64,359 ........4,331,933 ......13,077,3895.5 Cost or depreciation of furniture and equipment.............................. ........1,406,694 ...............6,782 .............73,151 ......................... ...........262,870 ...........114,029 ........1,863,5265.6 Rental of equipment......................................................................... ........1,099,737 ...............8,106 .............87,434 ......................... .............26,613 ...........220,837 ........1,442,7275.7 Cost or depreciation of EDP equipment and software..................... ........9,071,281 .............46,443 ...........500,938 ......................... ...........108,450 ........1,252,995 ......10,980,1075.8 Lodge supplies less $..........0 from sales......................................... ......................... ......................... ......................... ......................... ......................... ......................... ......................06.1 Books and periodicals...................................................................... ...........229,044 ...............1,292 .............13,937 ......................... .............23,197 .............53,914 ...........321,3846.2 Bureau and association dues........................................................... ........2,563,827 .............10,505 ...........113,305 ......................... .............78,662 ...........202,985 ........2,969,2846.3 Insurance, except on real estate...................................................... ...........782,971 ...............4,714 .............50,846 ......................... .............25,743 .............51,420 ...........915,6946.4 Miscellaneous losses....................................................................... ........4,933,920 .............27,183 ...........293,192 ......................... ...............6,147 ...........295,297 ........5,555,7396.5 Collection and bank service charges................................................ ...........275,228 ...............1,677 .............18,092 ......................... .............10,482 ..............(2,092) ...........303,3876.6 Sundry general expenses................................................................. ......85,404,884 ...........536,044 ........5,781,763 ......................... ........2,859,407 ......12,649,809 ....107,231,9077.1 Field expense allowance.................................................................. ........2,318,453 .............10,337 ...........111,491 ......................... ..................768 ...........939,582 ........3,380,6317.2 Fieldworkers' balances charged off (less $...........0 recovered)....... ......12,445,574 .............69,200 ...........746,386 ......................... ...............1,792 ........1,122,906 ......14,385,8587.3 Field conferences other than local meetings.................................... ........7,517,435 .............32,657 ...........352,239 ......................... - .................... - .................... ........7,902,3318.1 Official publications.......................................................................... ...........480,435 ...............1,547 .............16,685 ......................... - .................... ........1,672,870 ........2,171,5378.2 Expense of supreme lodge meetings............................................... ......................... ......................... ......................... ......................... ......................... ......................... ......................09.1 Real estate expenses....................................................................... ...........193,237 ..................992 .............10,701 ......................... ........2,609,598 .............67,971 ........2,882,4999.2 Investment expenses not included elsewhere.................................. ........8,781,809 ...............2,912 .............31,413 ......................... .............48,862 ......................... ........8,864,9969.3 Aggregate write-ins for expenses..................................................... ......................0 ......................0 ......................0 ......................0 ......................0 ....114,939,955 ....114,939,95510. General expenses incurred.............................................................. ....534,486,254 ........3,310,509 ......37,385,826 ......................0 ......38,671,370 (a)172,155,550 (b)786,009,50911. General expenses unpaid December 31, prior year......................... ......28,635,209 ...........159,782 ........1,906,267 ......................... ........2,106,866 ......10,790,880 ......43,599,00412. General expenses unpaid December 31, current year..................... ......42,321,244 ...........262,130 ........2,960,253 ......................... ........3,062,044 ......13,631,477 ......62,237,14813. General expenses paid during year (Lines 10 + 11 - 12 )................ ....520,800,219 ........3,208,161 ......36,331,840 ......................0 ......37,716,192 ....169,314,953 ....767,371,365
DETAILS OF WRITE-INS09.301 Fraternal Benevolences................................................................... ......................... ......................... ......................... ......................... ......................... ....103,584,271 ....103,584,27109.302 Fraternal Information and relations.................................................. ......................... ......................... ......................... ......................... ......................... ...........324,263 ...........324,26309.303 Local branch-lodge expenses.......................................................... ......................... ......................... ......................... ......................... ......................... ........1,585,561 ........1,585,56109.398 Summary of remaining write-ins for Line 9.3 from overflow page.... ......................0 ......................0 ......................0 ......................0 ......................0 ........9,445,860 ........9,445,86009.399 Totals (Lines 09.301 through 09.303 plus 09.398)(Line 9.3 above). ......................0 ......................0 ......................0 ......................0 ......................0 ....114,939,955 ....114,939,955
(a) Show the distribution of this amount in the following categories: 1. Charitable $.....8,209,084; 2. Institutional $.....6,391,860; 3. Recreational and Health $.....1,472,609; 4. Educational $.....6,412,121 5. Religious $.....37,182,464; 6. Membership $.....1,653,715; 7. Other $.....110,833,697; 8. Total $.....172,155,550(b) Includes management fees of $..........0 to affiliates and $..........0 to non-affiliates.
EXHIBIT 3 - TAXES, LICENSES AND FEESInsurance 4 5 6
1 2 3Aggregate of
Accident All Other LinesLife and Health of Business Investment Fraternal Total
1. Real estate taxes........................................................................................................... ......................... ......................... ......................... ........1,523,774 ......................... ........1,523,7742. State insurance department licenses and fees............................................................. ........1,701,754 ...........127,156 ......................... .............39,331 .............66,546 ........1,934,7873. Other state taxes, including $..........0 for employee benefits........................................ ...........118,693 ...............8,359 ......................... ...............5,289 ......................... ...........132,3414. U.S. Social Security taxes............................................................................................. ......31,973,607 ........2,366,302 ......................... ........1,588,942 ...........856,396 ......36,785,2475. All other taxes................................................................................................................ .......(3,127,719) ..........(223,260) ......................... ..........(150,425) .............81,417 .......(3,419,987)6. Taxes, licenses and fees Incurred................................................................................. ......30,666,335 ........2,278,557 ......................0 ........3,006,911 ........1,004,359 ......36,956,1627. Taxes, licenses and fees unpaid December 31, prior year........................................... ........4,731,423 ...........281,678 ......................... ...........426,834 ...........245,880 ........5,685,8158. Taxes, licenses and fees unpaid December 31, current year....................................... ........3,795,295 ...........273,544 ......................... ...........416,270 ...........128,269 ........4,613,3789. Taxes, licenses and fees paid during year (Lines 6 + 7 - 8).......................................... ......31,602,463 ........2,286,691 ......................0 ........3,017,475 ........1,121,970 ......38,028,599
EXHIBIT 4 - DIVIDENDS OR REFUNDS1 2
Life Accident and Health1. Applied to pay renewal premiums............................................................................................................................................... ...............................92,001,518 ....................................470,0722. Applied to shorten the endowment or premium-paying period................................................................................................... .................................................. ..................................................3. Applied to provide paid-up additions........................................................................................................................................... .............................190,629,248 ..................................................4. Applied to provide paid-up annuities........................................................................................................................................... ......................................10,138 ..................................................5. Total (Lines 1 to 4)...................................................................................................................................................................... .............................282,640,904 ....................................470,0726. Paid in cash................................................................................................................................................................................ ...............................19,208,026 .................................7,156,0107. Left on deposit............................................................................................................................................................................ .................................1,047,523 ..................................................8. Aggregate write-ins for dividend or refund.................................................................................................................................. ...............................................0 ...............................................09. Total (Lines 5 to 8)...................................................................................................................................................................... .............................302,896,453 .................................7,626,08210. Amount due and unpaid.............................................................................................................................................................. ....................................686,377 ..................................................11. Provision for dividends or refunds payable in the following calendar year................................................................................. .............................309,780,769 .................................7,218,00012 Terminal dividends...................................................................................................................................................................... .................................................. ..................................................13. Provision for deferred dividend contracts.................................................................................................................................... .................................................. ..................................................14. Amount provisionally held for deferred dividend contracts not included in Line 13.................................................................... .................................................. ..................................................15. Total (Line 10 through Line 14)................................................................................................................................................... .............................310,467,146 .................................7,218,00016. Total from prior year.................................................................................................................................................................... .............................305,703,271 .................................7,119,00017. Total dividends or refunds (Line 9 + 15 - 16).............................................................................................................................. .............................307,660,328 .................................7,725,082
DETAILS OF WRITE-INS0801. .................................................................................................................................................................................................... .................................................. ..................................................0802. .................................................................................................................................................................................................... .................................................. ..................................................0803. .................................................................................................................................................................................................... .................................................. ..................................................0898. Summary of remaining write-ins for Line 8 from overflow page.................................................................................................. ...............................................0 ...............................................00899. Totals (Line 0801 through 0803 plus 0898) (Line 8 above)........................................................................................................ ...............................................0 ...............................................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
12
EXHIBIT 5 - AGGREGATE RESERVE FOR LIFE CONTRACTS1 2 3 4 5 6
Credit(Group and
Valuation Standard Total Industrial Ordinary Individual) GroupLife Insurance:0100001. 41 CSO 3.25% 1902-1935 ....................................................................................... ...............493,058 ............................. ...............493,058 ............................. .............................0100002. AE 3.5% 1918-1936 ................................................................................................. ............5,499,605 ............................. ............5,499,605 ............................. .............................0100003. 41 CSO 3.0% 1926-1935 ......................................................................................... ............3,860,726 ............................. ............3,860,726 ............................. .............................0100004. AE 3.0% 1934-1951 ................................................................................................. ........174,609,949 ............................. ........174,609,949 ............................. .............................0100005. 41 CSO 2.5% 1948-1964 ......................................................................................... .....1,057,689,850 ............................. .....1,057,689,850 ............................. .............................0100006. 58 CSO 2.5% 1962-1979 ......................................................................................... .....1,840,654,801 ............................. .....1,840,654,801 ............................. .............................0100007. 58 CSO 3.0% 1971-1988 ......................................................................................... ........377,973,143 ............................. ........377,973,143 ............................. .............................0100008. 58 CSO 3.5% 1972- .................................................................................................. ........932,431,938 ............................. ........932,431,938 ............................. .............................0100009. 58 CSO 4.0% 1980- .................................................................................................. ........852,619,085 ............................. ........852,619,085 ............................. .............................0100010. Fund value 1982-1988 .............................................................................................. .....5,803,876,970 ............................. .....5,803,876,970 ............................. .............................0100011. 58 CSO 4.5% 1983-1988 ......................................................................................... ............5,658,906 ............................. ............5,658,906 ............................. .............................0100012. 80 CSO 4.0% 1986- .................................................................................................. .....5,966,395,779 ............................. .....5,966,395,779 ............................. .............................0100013. 80 CSO 4.5% 1993- .................................................................................................. .....2,053,822,924 ............................. .....2,053,822,924 ............................. .............................0100014. 80 CSO 5.0% 1993-1995 .......................................................................................... ..........98,634,755 ............................. ..........98,634,755 ............................. .............................0100015. 80 CSO 5.5% 1987-1992 .......................................................................................... ........100,096,963 ............................. ........100,096,963 ............................. .............................0100016. 80 CSO 4.0%-5.0% 1994-.......................................................................................... ..........38,565,401 ............................. ..........38,565,401 ............................. .............................0100017. 2001 CSO 3.5% 2012-............................................................................................... .....1,411,310,244 ............................. .....1,411,310,244 ............................. .............................0100018. 2001 CSO 4.0% 2006-2012....................................................................................... .....2,229,502,769 ............................. .....2,229,502,769 ............................. .............................0199997. Totals (Gross)................................................................................................................... ...22,953,696,866 ..........................0 ...22,953,696,866 ..........................0 ..........................00199998. Reinsurance ceded.......................................................................................................... ........688,841,664 ............................. ........688,841,664 ............................. .............................0199999. Totals (Net)....................................................................................................................... ...22,264,855,202 ..........................0 ...22,264,855,202 ..........................0 ..........................0
Annuities (excluding supplementary contracts with life contingencies):0200001. 37 SA Def 2.5%, a-1949 Def 3%, 3.5%, 4% 67-90..................................................... ........428,590,138 ..........XXX............ ........428,590,138 ..........XXX............ .............................0200002. a-1949 Imm 3%, 3.5%, 5.5% 70-85............................................................................. .................35,170 ..........XXX............ .................35,170 ..........XXX............ .............................0200003. a62 Imm 3.50% 68-73, 71 IAM Imm 5.50/4.50% 74-83................................................ .................46,771 ..........XXX............ .................46,771 ..........XXX............ .............................0200004. 83a Def Various Rates 79-84........................................................................................ ........138,779,296 ..........XXX............ ........138,779,296 ..........XXX............ .............................0200005. 83a Def Various Rates 81-95........................................................................................ .....2,725,141,210 ..........XXX............ .....2,725,141,210 ..........XXX............ .............................0200006. 83a Def Various Rates 95-06........................................................................................ .....1,717,263,550 ..........XXX............ .....1,717,263,550 ..........XXX............ .............................0200007. 83a Def Various Rates 91-97....................................................................................... .....1,863,265,851 ..........XXX............ .....1,863,265,851 ..........XXX............ .............................0200008. 83a Def Various Rates, AG43 Guar Benefit 94-97....................................................... ............1,478,584 ..........XXX............ ............1,478,584 ..........XXX............ .............................0200009. 9. 83a Imm 6.25%/20/4.50% 84-99.............................................................................. ..........12,424,846 ..........XXX............ ..........12,424,846 ..........XXX............ .............................0200010. 83a Imm 5.5% 86-89.................................................................................................... ...............697,569 ..........XXX............ ...............697,569 ..........XXX............ .............................0200011. 83a Imm Various Rates 90-97...................................................................................... ..........12,693,436 ..........XXX............ ..........12,693,436 ..........XXX............ .............................0200012. a-2000 Def Various Rates 98-14.................................................................................. .....5,410,410,515 ..........XXX............ .....5,410,410,515 ..........XXX............ .............................0200013. a-2000 Def Various Rates, AG43 Guar Benefit 98-14................................................. ............1,491,336 ..........XXX............ ............1,491,336 ..........XXX............ .............................0200014. a-2000 Imm Various Rates 98-03, 07-14..................................................................... ........726,103,073 ..........XXX............ ........726,103,073 ..........XXX............ .............................0200015. 2012 AIR Def Various Rates 15-NB............................................................................. ........813,617,524 ..........XXX............ ........813,617,524 ..........XXX............ .............................0200016. 2012 AIR Def Various Rates, AG 43 Guar Benefit 15-NB............................................ ..........................0 ..........XXX............ ............................. ..........XXX............ .............................0200017. 2012 AIR Imm Various Rates 15-NB............................................................................ ..........52,782,384 ..........XXX............ ..........52,782,384 ..........XXX............ .............................0299997. Totals (Gross)................................................................................................................... ...13,904,821,253 ..........XXX............ ...13,904,821,253 ..........XXX............ ..........................00299999. Totals (Net)....................................................................................................................... ...13,904,821,253 ..........XXX............ ...13,904,821,253 ..........XXX............ ..........................0
Supplementary Contracts with Life Contingencies:0300001. 37 SA Imm 2.5% 48-86, a62 Imm 2.5%, 3.0% 55-74................................................... .................32,485 ............................. .................32,485 ............................. .............................0300002. a-1949 Imm 3%, 3.5%, 5.5% 71-85.............................................................................. ...............144,703 ............................. ...............144,703 ............................. .............................0300003. 71 IAM Imm 3.0%, 5.5%/20/4.5% 74-84....................................................................... ...............325,843 ............................. ...............325,843 ............................. .............................0300004. 83a Imm 6.25%/20/4.50% 84-99 .................................................................................. ..........66,210,588 ............................. ..........66,210,588 ............................. .............................0300005. 83a Imm 5.5% 85-90..................................................................................................... ............1,960,355 ............................. ............1,960,355 ............................. .............................0300006. 83a Imm Various Rates 90-97...................................................................................... ..........52,221,227 ............................. ..........52,221,227 ............................. .............................0300007. a2000 Imm Various Rates 98-03, 11-14....................................................................... .....1,378,443,701 ............................. .....1,378,443,701 ............................. .............................0300008. 2012 IAR Imm Various Rates 15-NB............................................................................ ..........77,452,190 ............................. ..........77,452,190 ............................. .............................0399997. Totals (Gross)................................................................................................................... .....1,576,791,092 ..........................0 .....1,576,791,092 ..........................0 ..........................00399999. Totals (Net)....................................................................................................................... .....1,576,791,092 ..........................0 .....1,576,791,092 ..........................0 ..........................0
Accidental Death Benefits:0400001. 1926-33 Interco., 2.5%.................................................................................................. ...............110,162 ............................. ...............110,162 ............................. .............................0400002. 1926-33 Interco., 3.0%.................................................................................................. ..........................0 ............................. ............................. ............................. .............................0400003. 59 ADB 2.5%................................................................................................................. ............1,210,403 ............................. ............1,210,403 ............................. .............................0400004. 59 ADB 3.0%................................................................................................................. ..........14,051,084 ............................. ..........14,051,084 ............................. .............................0400005. 59 ADB 3.5%................................................................................................................. ...............917,530 ............................. ...............917,530 ............................. .............................0400006. 59 ADB 4.0%................................................................................................................. ............1,602,903 ............................. ............1,602,903 ............................. .............................0400007. 59 ADB 4.5%................................................................................................................. ...............276,527 ............................. ...............276,527 ............................. .............................0499997. Totals (Gross)................................................................................................................... ..........18,168,609 ..........................0 ..........18,168,609 ..........................0 ..........................00499998. Reinsurance ceded.......................................................................................................... ......................249 ............................. ......................249 ............................. .............................0499999. Totals (Net)....................................................................................................................... ..........18,168,360 ..........................0 ..........18,168,360 ..........................0 ..........................0
Disability - Active Lives:0500001. 52 Interco Disa 2.5%..................................................................................................... ............3,720,668 ............................. ............3,720,668 ............................. .............................0500002. 52 Interco Disa 3.0%..................................................................................................... ...............780,840 ............................. ...............780,840 ............................. .............................0500003. 52 Interco Disa 3.5%..................................................................................................... ..........24,100,732 ............................. ..........24,100,732 ............................. .............................0500004. 52 Interco Disa 4.0%..................................................................................................... ........132,649,312 ............................. ........132,649,312 ............................. .............................0500005. 52 Interco Disa 4.5%...................................................................................................... ..........89,180,017 ............................. ..........89,180,017 ............................. .............................0500006. Class (3) & 1941 CSO 2.50%........................................................................................ ...................9,768 ............................. ...................9,768 ............................. .............................0500007. Class (3) & AE 3.0%...................................................................................................... ..........................0 ............................. ............................. ............................. .............................0599997. Totals (Gross)................................................................................................................... ........250,441,337 ..........................0 ........250,441,337 ..........................0 ..........................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
12.1
EXHIBIT 5 - AGGREGATE RESERVE FOR LIFE CONTRACTS1 2 3 4 5 6
Credit(Group and
Valuation Standard Total Industrial Ordinary Individual) Group0599998. Reinsurance ceded.......................................................................................................... ...............231,534 ............................. ...............231,534 ............................. .............................0599999. Totals (Net)....................................................................................................................... ........250,209,803 ..........................0 ........250,209,803 ..........................0 ..........................0
Disability - Disabled Lives:0600001. 52 Interco Disa 2.5%..................................................................................................... ..........55,948,841 ............................. ..........55,948,841 ............................. .............................0600002. 52 Interco Disa 3.0%..................................................................................................... ............1,255,329 ............................. ............1,255,329 ............................. .............................0600003. 52 Interco Disa 3.5%..................................................................................................... ........258,715,373 ............................. ........258,715,373 ............................. .............................0600004. 52 Interco Disa 4.0%..................................................................................................... ..........28,183,855 ............................. ..........28,183,855 ............................. .............................0600005. 52 Interco Disa 4.5%..................................................................................................... ..........10,276,330 ............................. ..........10,276,330 ............................. .............................0600006. Class (3) 3.0%............................................................................................................... .................84,889 ............................. .................84,889 ............................. .............................0600007. Class (3) AE 3.0%......................................................................................................... ...................2,718 ............................. ...................2,718 ............................. .............................0699997. Totals (Gross)................................................................................................................... ........354,467,335 ..........................0 ........354,467,335 ..........................0 ..........................00699998. Reinsurance ceded.......................................................................................................... ...............297,620 ............................. ...............297,620 ............................. .............................0699999. Totals (Net)....................................................................................................................... ........354,169,715 ..........................0 ........354,169,715 ..........................0 ..........................0
Miscellaneous Reserves:0700001. For reserve for variable life insurance minimum death benefit guarantees................. ............1,724,142 ............................. ............1,724,142 ............................. .............................
0700002. For non-deduction of deferred fractional premiums or return of premiums at thedeath of the insured ...............447,221 ............................. ...............447,221 ............................. .............................
0700003. Annuity LTC combo rider reserves.............................................................................. ...............378,140 ............................. ...............378,140 ............................. .............................0700004. Additional actuarial reserves - Asset/Liability Analysis................................................ ..........................0 ............................. ............................. ............................. .............................0799997. Totals (Gross)................................................................................................................... ............2,549,503 ..........................0 ............2,549,503 ..........................0 ..........................00799999. Totals (Net)....................................................................................................................... ............2,549,503 ..........................0 ............2,549,503 ..........................0 ..........................09999999. Totals (Net) - Page 3, Line 1............................................................................................ ...38,371,564,928 ..........................0 ...38,371,564,928 ..........................0 ..........................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
13
EXHIBIT 5 - INTERROGATORIES1.1 Has the reporting entity ever issued both participating and non-participating contracts? Yes [ ] No [ X ]1.2 If not, state which kind is issued
PARTICIPATING
2.1 Does the reporting entity at present issue both participating and non-participating contracts? Yes [ ] No [ X ]2.2 If not, state which kind is issued
PARTICIPATING
3. Does the reporting entity at present issue or have in force contracts that contain non-guaranteed elements? Yes [ X ] No [ ]If so, attach a statement that contains the determination procedures, answers to the interrogatories and an actuarial opinion asdescribed in the instructions.
4. Has the reporting entity any assessment or stipulated premium contracts in force? If so, state: Yes [ ] No [ X ]4.1 Amount of insurance: $...........................................4.2 Amount of reserve: $...........................................4.3 Basis of reserve:
4.4 Basis of regular assessments:
4.5 Basis of special assessments:
4.6 Assessments collected during year: $...........................................5. If the contract loan interest rate guaranteed in any one or more of its currently issued contracts is less than 5%, not in advance, state the
contract loan rate guarantees on any such contracts.
6. Does the reporting entity hold reserves for any annuity contracts that are less than the reserves that would be held on a standard basis? Yes [ ] No [ X ]6.1 If so, state the amount of reserve on such contracts on the basis actually held: $...........................................
6.2 That would have been held (on an exact or approximate basis) using the actual ages of the annuitants; the interest rate(s) used in 6.1; andthe same mortality basis used by the reporting entity for the valuation of comparable annuity benefits issued to standard lives. If the reporting entityhas no comparable annuity benefits for standard lives to be valued, the mortality basis shall be the table most recently approved by thestate of domicile for valuing individual annuity benefits: $...........................................Attach statement of methods employed in their valuation.
7. Does the reporting entity have any Synthetic GIC contracts or agreements in effect as of December 31 of the current year? Yes [ ] No [ X ]7.1 If yes, state the total dollar amount of assets covered by these contracts or agreements: $...........................................7.2 Specify the basis (fair value, amortized cost, etc.) for determining the amount:
7.3 State the amount of reserves established for this business: $...........................................7.4 Identify where the reserves are reported in the blank.
8. Does the reporting entity have any Contingent Deferred Annuity contracts or agreements in effect as of December of the current year? Yes [ ] No [ X ]8.1 If yes, state the total dollar amount of account value covered by these contracts or agreements. $...........................................8.2 State the amount of reserves established for this business. $...........................................8.3 Identify where the reserves are reported in the blank.
9. Does the reporting entity have any Guaranteed Lifetime Income Benefit contracts, agreements or riders in effect as of December 31 of the current year? Yes [ ] No [ X ]9.1 If yes, state the total dollar amount of any account value associated with these contracts, agreements or riders. $...........................................9.2 State the amount of reserves established for this business. $...........................................9.3 Identify where the reserves are reported in the blank.
EXHIBIT 5A - CHANGES IN BASES OF VALUATION DURING THE YEAR1 Valuation Basis 4
2 3 Increase in ActuarialDescription of Valuation Class Changed From Changed To Reserve Due To Change
NONE
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
14
EXHIBIT 6 - AGGREGATE RESERVES FOR ACCIDENT AND HEALTH CONTRACTS1 2 Other Individual Contracts
3 4 5 6 7Non-Renewable Other
Collectively Non- Guaranteed for Stated AccidentTotal Renewable Cancelable Renewable Reasons Only Only All Other
ACTIVE LIFE RESERVE1. Unearned premium reserves............................................ ..........55,347,792 ............................ ...........1,699,752 .........53,577,185 ................70,854 ............................ ............................
2. Additional contract reserves (a)........................................ .....4,331,999,291 ............................ .........51,305,967 ....4,274,904,928 ...........5,788,397 ............................ ............................
3. Additional actuarial reserves-Asset/Liability analysis....... ........281,000,000 ............................ ............................ .......281,000,000 ............................ ............................ ............................
4. Reserve for future contingent benefits............................. ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
5. Aggregate write-ins for reserves...................................... ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
6. Totals (Gross)................................................................... .....4,668,347,083 .........................0 .........53,005,719 ....4,609,482,113 ...........5,859,251 .........................0 .........................0
7. Reinsurance ceded.......................................................... ...............229,060 ............................ ..............223,196 ..................5,865 ............................ ............................ ............................
8. Totals (Net)....................................................................... .....4,668,118,023 .........................0 .........52,782,523 ....4,609,476,248 ...........5,859,251 .........................0 .........................0
CLAIM RESERVE9. Present value of amounts not yet due on claims.............. ........987,054,159 ............................ .........65,955,146 .......918,819,408 ...........2,279,605 ............................ ............................
10. Additional actuarial reserves-Asset/Liability analysis....... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
11. Reserve for future contingent benefits............................. ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
12. Aggregate write-ins for reserves...................................... ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
13. Totals (Gross)................................................................... ........987,054,159 .........................0 .........65,955,146 .......918,819,408 ...........2,279,605 .........................0 .........................0
14. Reinsurance ceded.......................................................... ...............316,529 ............................ ..............316,529 ............................ ............................ ............................ ............................
15. Totals (Net)....................................................................... ........986,737,630 .........................0 .........65,638,617 .......918,819,408 ...........2,279,605 .........................0 .........................0
16. TOTAL (Net)..................................................................... .....5,654,855,652 .........................0 .......118,421,140 ....5,528,295,656 ...........8,138,856 .........................0 .........................0
17. TABULAR FUND INTEREST........................................... ........232,715,520 ............................ ...........4,551,966 .......227,836,319 ..............327,235 ............................ ............................
DETAILS OF WRITE-INS
0501. ......................................................................................... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
0502. ......................................................................................... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
0503. ......................................................................................... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
0598. Summary of remaining write-ins for Line 5from overflow page........................................................... ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
0599. Totals (Lines 0501 through 0503+0598) (Line 5 above) ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
1201. ......................................................................................... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
1202. ......................................................................................... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
1203. ......................................................................................... ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
1298. Summary of remaining write-ins for Line 12from overflow page........................................................... ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
1299. Totals (Lines 1201 through 1203+1298) (Line 12 above) ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
(a) Attach statement as to valuation standard used in calculating this reserve, specify reserve bases, interest rates and method.
EXHIBIT 7 - DEPOSIT-TYPE CONTRACTS1 2 3 4 5 6
Guaranteed Dividend Premium andInterest Annuities Supplemental Accumulations Other Deposit
Total Contracts Certain Contracts or Refunds Funds
1. Balance at beginning of the year before reinsurance............................... .....3,104,279,867 ............................. ........387,260,857 .....2,644,589,108 ..........72,117,387 ...............312,515
2. Deposits received during the year............................................................ ........656,138,397 ............................. ..........16,034,673 ........639,015,474 ............1,050,939 .................37,311
3. Investment earnings credited to the account............................................ ........110,799,335 ............................. ..........17,776,789 ..........90,368,517 ............2,658,220 ..................(4,191)
4. Other net change in reserves................................................................... ..........................0 ............................. ............................. ............................. ............................. .............................
5. Fees and other charges assessed............................................................ ..........................0 ............................. ............................. ............................. ............................. .............................
6. Surrender charges.................................................................................... ..........................0 ............................. ............................. ............................. ............................. .............................
7. Net surrender or withdrawal payments..................................................... ........599,190,326 ............................. ..........66,891,698 ........526,668,134 ............5,552,349 .................78,145
8. Other net transfers to or (from) Separate Accounts.................................. ..........................0 ............................. ............................. ............................. ............................. .............................
9. Balance at the end of the current year before reinsurance(Lines 1 + 2 + 3 + 4 - 5 - 6 - 7 - 8)............................................................. .....3,272,027,273 ..........................0 ........354,180,621 .....2,847,304,965 ..........70,274,197 ...............267,490
10. Reinsurance balance at the beginning of the year................................... ..........................0 ............................. ............................. ............................. ............................. .............................
11. Net change in reinsurance assumed........................................................ ..........................0 ............................. ............................. ............................. ............................. .............................
12. Net change in reinsurance ceded............................................................. ..........................0 ............................. ............................. ............................. ............................. .............................
13. Reinsurance balance at the end of the year (Lines 10 + 11 - 12)............. ..........................0 ..........................0 ..........................0 ..........................0 ..........................0 ..........................0
14. Net balance at the end of current year after reinsurance (Lines 9 + 13).. .....3,272,027,273 ..........................0 ........354,180,621 .....2,847,304,965 ..........70,274,197 ...............267,490
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
15
EXHIBIT 8 - PART 1 - CLAIMS FOR LIFE AND ACCIDENT AND HEALTH CONTRACTSLiability End of Current Year
1 2 Ordinary 6 Group Accident and Health3 4 5 7 8 9 10 11
Credit Life CreditIndustrial Life Individual Supplementary (Group and Life (Group and
Total Life Insurance Annuities Contracts Individual) Insurance Annuities Group Individual) Other1. Due and unpaid:
1.1 Direct................................................................................................... ................23,856,449 ................................. ................9,986,632 ...............13,475,682 ...................394,136 ................................. ................................. ................................. ................................. ................................. .................................1.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................1.3 Reinsurance ceded.............................................................................. ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................1.4 Net....................................................................................................... ................23,856,449 ..............................0 ................9,986,632 ...............13,475,682 ...................394,136 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0
2. In course of settlement:2.1 Resisted:
2.11 Direct................................................................................................. ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................2.12 Reinsurance assumed........................................................................ ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................2.13 Reinsurance ceded............................................................................. ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................2.14 Net..................................................................................................... ................................0 ..............................0 (b)..........................0 (b)..........................0 ..............................0 (b)..........................0 (b)..........................0 ..............................0 ..............................0 ..............................0 ..............................0
2.2 Other:2.21 Direct................................................................................................. ...............235,701,839 ................................. .............108,235,565 .............101,252,784 ................................. ................................. ................................. ................................. ................................. ................................. ...............26,213,4892.22 Reinsurance assumed........................................................................ ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................2.23 Reinsurance ceded............................................................................. ..................7,112,647 ................................. ................7,110,287 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .......................2,3602.24 Net..................................................................................................... ...............228,589,192 ..............................0 (b)........101,125,278 (b)........101,252,784 ..............................0 (b)..........................0 (b)..........................0 ..............................0 (b)..........................0 (b)..........................0 (b)..........26,211,129
3. Incurred but unreported:3.1 Direct................................................................................................... ................43,246,712 ................................. ...............33,201,318 ...................951,475 ................................. ................................. ................................. ................................. ................................. ................................. ................9,093,9193.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................3.3 Reinsurance ceded.............................................................................. ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................3.4 Net....................................................................................................... ................43,246,712 ..............................0 (b)..........33,201,318 (b)...............951,475 ..............................0 (b)..........................0 (b)..........................0 ..............................0 (b)..........................0 (b)..........................0 (b)............9,093,919
4. Totals:4.1 Direct................................................................................................... ...............302,805,000 ..............................0 .............151,423,515 .............115,679,941 ...................394,136 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............35,307,4084.2 Reinsurance assumed.......................................................................... ................................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................04.3 Reinsurance ceded.............................................................................. ..................7,112,647 ..............................0 ................7,110,287 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .......................2,3604.4 Net....................................................................................................... ...............295,692,353 (a)..........................0 (a)........144,313,228 .............115,679,941 ...................394,136 ..............................0 (a)..........................0 ..............................0 ..............................0 ..............................0 ...............35,305,048
(a) Including matured endowments (but not guaranteed annual pure endowments) unpaid amounting to $..........0 in Column 2, $..........0 in Column 3 and $..........0 in Column 7. (b) Include only portion of disability and accident and health claim liabilities applicable to assumed "accrued" benefits. Reserves (including reinsurance assumed and net of reinsurance ceded) for unaccrued benefits for Ordinary Life Insurance $.....354,169,715, Individual Annuities $...........0, Credit Life (Group and Individual) $..........0, and Group Life $..........0, are included in Page 3, Line 1, (See Exhibit 5, Section on Disability Disabled Lives); and for Group Accident and Health $..........0, Credit (Group and Individual) Accident and Health $..........0 and Other Accident and Health $.....986,737,630 are included in Page 3, Line 2, (See Exhibit 6, Claim Reserve).
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
16
EXHIBIT 8 - PART 2 - CONTRACT CLAIMS FOR LIFE AND ACCIDENT AND HEALTH CONTRACTSIncurred During the Year
1 2 Ordinary 6 Group Accident and Health3 4 5 7 8 9 10 11
Industrial Life Credit Life Life CreditLife Insurance Individual Supplementary (Group and Insurance (Group and
Total (a) (b) Annuities Contracts Individual) (c) Annuities Group Individual) Other1. Settlements during the year:
1.1 Direct................................................................................................... ............2,330,438,037 ................................. ..........1,079,776,528 .............696,932,466 .............220,780,332 ................................. ................................. ................................. ................................. ................................. .............332,948,7111.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................1.3 Reinsurance ceded.............................................................................. ................48,454,153 ................................. ...............48,399,703 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .....................54,4501.4 Net....................................................................................................... (d).......2,281,983,884 ..............................0 ..........1,031,376,825 .............696,932,466 .............220,780,332 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .............332,894,261
2. Liability December 31, current year from Part 1:2.1 Direct................................................................................................... ...............302,805,000 ..............................0 .............151,423,515 .............115,679,941 ...................394,136 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............35,307,4082.2 Reinsurance assumed.......................................................................... ................................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................02.3 Reinsurance ceded.............................................................................. ..................7,112,647 ..............................0 ................7,110,287 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .......................2,3602.4 Net....................................................................................................... ...............295,692,353 ..............................0 .............144,313,228 .............115,679,941 ...................394,136 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............35,305,048
3. Amounts recoverable from reinsurers Dec. 31, current year........................ ..................2,534,931 ................................. ................2,534,931 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................4. Liability December 31, prior year:
4.1 Direct................................................................................................... ...............280,530,417 ................................. .............146,442,524 ...............94,028,061 .....................58,359 ................................. ................................. ................................. ................................. ................................. ...............40,001,4724.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................4.3 Reinsurance ceded.............................................................................. ..................4,654,871 ................................. ................4,653,390 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .......................1,4814.4 Net....................................................................................................... ...............275,875,546 ..............................0 .............141,789,134 ...............94,028,061 .....................58,359 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............39,999,991
5. Amounts recoverable from reinsurers December 31, prior year................... ..................3,599,407 ................................. ................3,599,407 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................6. Incurred benefits:
6.1 Direct................................................................................................... ............2,352,712,620 ..............................0 ..........1,084,757,519 .............718,584,346 .............221,116,109 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .............328,254,6476.2 Reinsurance assumed.......................................................................... ................................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................06.3 Reinsurance ceded.............................................................................. ................49,847,453 ..............................0 ...............49,792,124 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .....................55,3296.4 Net....................................................................................................... ............2,302,865,167 ..............................0 ..........1,034,965,395 .............718,584,346 .............221,116,109 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .............328,199,317
(a) Including matured endowments (but not guaranteed annual pure endowments) amounting to $..........0 in Line 1.1, $..........0 in Line 1.4, $..........0 in Line 6.1 and $..........0 in line 6.4. (b) Including matured endowments (but not guaranteed annual pure endowments) amounting to $.....9,928,652 in Line 1.1, $.....9,928,652 in Line 1.4, $.....9,928,652 in Line 6.1 and $.....9,928,652 in line 6.4. (c) Including matured endowments (but not guaranteed annual pure endowments) amounting to $..........0 in Line 1.1, $..........0 in Line 1.4, $..........0 in Line 6.1 and $..........0 in line 6.4. (d) Includes $.....37,010,538 premiums waived under total and permanent disability benefits.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
17
EXHIBIT OF NONADMITTED ASSETS1 2 3
Current Year Prior Year Change in TotalTotal Total Nonadmitted Assets
Nonadmitted Assets Nonadmitted Assets (Col. 2 - Col. 1)
1. Bonds (Schedule D)....................................................................................................................... ................................................. ................................................. .............................................0
2. Stocks (Schedule D):
2.1 Preferred stocks................................................................................................................... ................................................. ................................................. .............................................0
2.2 Common stocks.................................................................................................................... ................................................. ................................................. .............................................0
3. Mortgage loans on real estate (Schedule B):
3.1 First liens.............................................................................................................................. ................................................. ................................................. .............................................0
3.2 Other than first liens............................................................................................................. ................................................. ................................................. .............................................0
4. Real estate (Schedule A):
4.1 Properties occupied by the company................................................................................... ................................................. ................................................. .............................................0
4.2 Properties held for the production of income........................................................................ ................................................. ................................................. .............................................0
4.3 Properties held for sale........................................................................................................ ................................................. ................................................. .............................................0
5. Cash (Schedule E-Part 1), cash equivalents (Schedule E-Part 2)and short-term investments (Schedule DA)................................................................................... ................................................. ................................................. .............................................0
6. Contract loans................................................................................................................................ ...............................2,346,318 ................................................. ..............................(2,346,318)
7. Derivatives (Schedule DB)............................................................................................................. ................................................. ................................................. .............................................0
8. Other invested assets (Schedule BA)............................................................................................ ...............................6,087,448 ...............................5,780,908 .................................(306,540)
9. Receivables for securities.............................................................................................................. ................................................. ................................................. .............................................0
10. Securities lending reinvested collateral assets (Schedule DL)....................................................... ................................................. ................................................. .............................................0
11. Aggregate write-ins for invested assets......................................................................................... .............................................0 .............................................0 .............................................0
12. Subtotals, cash and invested assets (Lines 1 to 11)...................................................................... ...............................8,433,766 ...............................5,780,908 ..............................(2,652,858)
13. Title plants (for Title insurers only)................................................................................................. ................................................. ................................................. .............................................0
14. Investment income due and accrued............................................................................................. ..................................690,432 ..................................706,227 ....................................15,794
15. Premiums and considerations:
15.1 Uncollected premiums and agents' balances in the course of collection............................. ................................................. ................................................. .............................................0
15.2 Deferred premiums, agents' balances and installments booked butdeferred and not yet due...................................................................................................... ................................................. ................................................. .............................................0
15.3 Accrued retrospective premiums and contracts subject to redetermination......................... ................................................. ................................................. .............................................0
16. Reinsurance:
16.1 Amounts recoverable from reinsurers.................................................................................. ................................................. ................................................. .............................................0
16.2 Funds held by or deposited with reinsured companies........................................................ ................................................. ................................................. .............................................0
16.3 Other amounts receivable under reinsurance contracts....................................................... ................................................. ................................................. .............................................0
17. Amounts receivable relating to uninsured plans............................................................................. ................................................. ................................................. .............................................0
18.1 Current federal and foreign income tax recoverable and interest thereon..................................... ................................................. ................................................. .............................................0
18.2 Net deferred tax asset.................................................................................................................... ................................................. ................................................. .............................................0
19. Guaranty funds receivable or on deposit........................................................................................ ................................................. ................................................. .............................................0
20. Electronic data processing equipment and software...................................................................... .............................45,754,096 .............................46,668,600 ..................................914,504
21. Furniture and equipment, including health care delivery assets.................................................... .............................13,245,365 .............................11,952,037 ..............................(1,293,328)
22. Net adjustment in assets and liabilities due to foreign exchange rates.......................................... ................................................. ................................................. .............................................0
23. Receivables from parent, subsidiaries and affiliates...................................................................... ................................................. ................................................. .............................................0
24. Health care and other amounts receivable..................................................................................... ...............................2,869,702 ...............................2,644,234 .................................(225,468)
25. Aggregate write-ins for other-than-invested assets........................................................................ .............................33,268,077 .............................30,406,329 ..............................(2,861,748)
26. Total assets excluding Separate Accounts, Segregated Accounts and ProtectedCell Accounts (Lines 12 through 25).............................................................................................. ...........................104,261,438 .............................98,158,335 ..............................(6,103,104)
27. From Separate Accounts, Segregated Accounts and Protected Cell Accounts............................. ................................................. ................................................. .............................................0
28. TOTALS (Lines 26 and 27)............................................................................................................ ...........................104,261,438 .............................98,158,335 ..............................(6,103,104)
DETAILS OF WRITE-INS
1101. ....................................................................................................................................................... ................................................. ................................................. .............................................0
1102. ....................................................................................................................................................... ................................................. ................................................. .............................................0
1103. ....................................................................................................................................................... ................................................. ................................................. .............................................0
1198. Summary of remaining write-ins for Line 11 from overflow page................................................... .............................................0 .............................................0 .............................................0
1199. Totals (Lines 1101 through 1103 plus 1198) (Line 11 above)........................................................ .............................................0 .............................................0 .............................................0
2501. Prepaid expenses........................................................................................................................... .............................23,877,249 .............................20,021,405 ..............................(3,855,845)
2502. Miscellaneous assets and receivables........................................................................................... ...............................3,071,032 ...............................4,512,578 ...............................1,441,546
2503. Unsecured loans............................................................................................................................ ...............................6,319,797 ...............................5,872,347 .................................(447,449)
2598. Summary of remaining write-ins for Line 25 from overflow page................................................... .............................................0 .............................................0 .............................................0
2599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)........................................................ .............................33,268,077 .............................30,406,329 ..............................(2,861,748)
NOTES TO FINANCIAL STATEMENTS
1. Summary of Significant Accounting Policies
A. Accounting Practices
The financial statements of Thrivent Financial for Lutherans (Thrivent Financial) are presented on the basis of accounting practices and procedures prescribed by the Office of the Commissioner of Insurance of the State of Wisconsin. The Office of the Commissioner of Insurance of the State of Wisconsin recognizes only statutory accounting practices prescribed by the State of Wisconsin for determining and reporting the financial condition and results of operations of an insurance company, for determining its solvency under the Wisconsin Insurance Law. The National Association of Insurance Commissioners' (NAIC) Statutory Accounting Practices and Procedures (SAP) manual has been adopted as a component of prescribed practices by the State of Wisconsin. The Office of the Commissioner of Insurance of the State of Wisconsin has the right to permit other specific practices that deviate from prescribed practices. A reconciliation of Thrivent Financial's net income and surplus between NAIC SAP and practices prescribed and permitted by the state of Wisconsin is shown below:
B. Use of Estimates in the Preparation of the Financial Statements
The preparation of financial statements in conformity with SAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and notes to the financial statements. The more significant estimates involve those relating to fair values of investments, reserves for life, health and annuity contracts, pension and other retirement benefit liabilities. Actual results could differ from those estimates.
C. Accounting Policy
Traditional life premiums are recognized as income over the premium paying period of the related policies. Variable life, universal life and annuity premiums are recognized as revenue when received. Deposits on deposit-type contracts are entered directly as a liability when received. Health premiums are earned over the terms of the insurance policies. Expenses incurred in connection with acquiring new insurance business, including acquisition costs such as sales commissions, are charged to operations as incurred. The amount of dividends to be paid to policyholders is determined annually by Thrivent Financial’s Board of Directors. The aggregate amount of policyholders’ dividends is related to actual interest, mortality, morbidity, and expense experience for the year and judgment as to the appropriate level of statutory surplus to be retained by Thrivent Financial. In addition, Thrivent Financial uses the following accounting policies: (1) Short-term investments have contractual maturities of one year or less at the time of
acquisition. Investments in money market mutual funds are carried at fair value and investments in commercial paper and agency notes are carried at amortized cost, which approximates fair value.
SSAP #
F/S Page
F/S Line # 2016
2015
NET INCOME (1) Thrivent Financial for Lutherans state
basis (Page 4, Line 31, Column 1 & 2) $555,807,813 $770,300,455
(2) State Prescribed Practices that increase/decrease NAIC SAP
- -
(3) State Permitted Practices that increase/decrease NAIC SAP
- -
(4) NAIC SAP (1 – 2 – 3 = 4) $555,807,813 $770,300,455 SURPLUS (5) Thrivent Financial for Lutherans state
basis (Page 3, Line 30, Column 1 & 2) $7,725,613,924 $7,126,496,319
(6) State Prescribed Practices that increase/decrease NAIC SAP
- -
(7) State Permitted Practices that increase/decrease NAIC SAP
- -
(8) NAIC SAP (5 – 6 – 7 = 8) $7,725,613,924 $7,126,496,319
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18
NOTES TO FINANCIAL STATEMENTS
(2) Bonds are valued and reported in accordance with the NAIC Valuation of Securities
manual prepared by the Securities Valuation Office (SVO). Bonds, excluding loan-backed securities and structured securities, are stated at amortized cost, except for those with an NAIC designation of 6 that are reported at lower of amortized cost or fair market value. Bonds eligible for amortization are amortized using the modified scientific method.
(3) Common stocks of unaffiliated companies are stated at market value. Common stocks of uncombined subsidiaries and affiliates are carried on the statutory equity basis.
(4) Preferred stocks are generally stated at amortized cost. Issues rated not in good standing are reported at lower of amortized cost or fair market value.
(5) Mortgage loans on real estate are stated at unpaid principal balances, less valuation adjustments. See note 5A for more information about investments in mortgage loans.
(6) Loan-backed and structured securities are valued in accordance with the procedures established by the Purposes and Procedures manual of the SVO and stated at amortized cost using the modified scientific method adjusted to anticipate prepayment patterns. See note 5D for more information about loan-backed investments.
(7) The common stock of Thrivent Financial's wholly-owned subsidiary (Thrivent Financial Holdings Inc.) is carried under the statutory equity method.
(8) Thrivent Financial has ownership interests in joint ventures, partnerships and limited liability companies. Thrivent Financial carries these interests based on the underlying audited equity of the investee as reported under U.S. generally accepted accounting principles (GAAP).
(9) Derivative financial instruments that hedge specific assets or liabilities are valued and reported in a manner consistent with the hedged item. See note 8 for more information about derivative investments.
(10) Thrivent Financial anticipates investment income as a factor in the premium deficiency calculation for disability income and long-term care products, in accordance with Statement of Statutory Accounting Principles (SSAP) No. 54, Individual and Group Accident and Health Contracts.
(11) Unpaid losses and loss adjustment expenses include an amount determined from individual case estimates and loss reports and an amount, based on past experience, for losses incurred but not reported. Such liabilities are necessarily based on assumptions and estimates and while management believes the amount is adequate, the ultimate liability may be in excess of or less than the amount provided. The methods for making such estimates and for establishing the resulting liability is periodically reviewed and any adjustments are reflected in the period determined.
(12) Thrivent Financial has not modified its capitalization policy from the prior period. (13) Thrivent Financial is not a participant in any pharmaceutical rebate program.
D. Going Concern (1-4) There is not substantial doubt regarding Thrivent Financial’s ability to continue as a going concern.
2. Accounting Changes and Corrections of Errors During the current year's financial statement preparation, no material changes in accounting principles and/or corrections of errors were implemented or discovered.
3. Business Combinations and Goodwill
A. Thrivent Financial did not acquire any organizations accounted for under the statutory purchase method for the years ended December 31, 2016 and 2015.
B. Thrivent Financial did not participate in a statutory merger for the years ended December 31,
2016 and 2015. C. Thrivent Financial did not enter into any assumption reinsurance agreements for the years
ended December 31, 2016 and 2015. D. Not Applicable
4. Discontinued Operations
A-D. Thrivent Financial had no discontinued operations during the years ended December 31, 2016 and 2015.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.1
NOTES TO FINANCIAL STATEMENTS
5. Investments
A. Mortgage Loans
(1) The maximum and minimum loan rates for mortgage loans during 2016 were 5.5% and 2.8%, respectively.
(2) The maximum percentage of any one loan to the value of security at the time of the loan,
exclusive of insured or guaranteed or purchase money mortgages was 75%.
2016 2015 (3) Taxes, assessments, and any amounts advanced and not
included in the mortgage loan total $ - $ -
(4) Age Analysis of Mortgage Loans as of December 31 was as follows:
Farm
Residential Commercial
Mezzanine
Total
Insured All
Other
Insured
All Other a. Current year 1. Recorded Investment (All) (a) Current $ - $ - $ - $ - $ 7,766,019,755 $ - $7,766,019,755 (b) 30-59 Day Past Due - - - - 3,218,404 - 3,218,404 (c) 60-89 Days Past Due - - - - 1,372,574 - 1,372,574 (d) 90-179 Days Past Due - - - - - - - (e) 180+ Days past Due - - - - 5,299,416 - 5,299,416 2. Accruing Interest 90-179 Days
Past Due
(a) Recorded Investment $ - $ - $ - $ - $ - $ - $ - (b) Interest Accrued - - - - - - -
Farm
Residential
Commercial
Mezzanine
Total
Insured All
Other
Insured
All Other 3
. Accruing Interest 180+ days Past
(a) Recorded Investment $ - $ - $ - $ - $ 5,299,416 $ - $ 5,299,416 (b) Interest Accrued - - - - $ 690,432 - $ 690,432 4
. Interest Reduced
(a) Recorded Investment $ - $ - $ - $ - $ 150,611,568 $ - $ 150,611,568 (b) Number of Loans - - - - 179 - 179 (c) Percent Reduced - - - - 1.5% - 1.5%
Farm
Residential Commercial Mezzanine
Total
Insured All
Other
Insured
All Other b. Prior Year 1
. Recorded Investment (All)
(a) Current $ - $ - $ - $ - $ 7,548,332,525 $ - $7,548,332,525 (b) 30-59 Days Past Due - - - - 2,390,930 - 2,390,930 (c) 60-89 Days Past Due - - - - 1,554,000 - 1,554,000 (d) 90-179 Days Past Due - - - - - - - (e) 180+ Days past Due - - - - 5,403,989 - 5,403,989 2
. Accruing Interest 90-179 Days Past Due
(a) Recorded Investment $ - $ - $ - $ - $ - $ - $ - (b) Interest Accrued - - - - - - - 3
. Accruing Interest 180+ days Past
(a) Recorded Investment $ - $ - $ - $ - $ 5,403,989 $ - $ 5,403,989 (b) Interest Accrued - - - - $ 706,227 - $ 706,227 4
. Interest Reduced
(a) Recorded Investment $ - $ - $ - $ - $ 167,952,103 $ - $ 167,952,103 (b) Number of Loans - - - - 177 - 177 (c) Percent Reduced - - - - 1.3% - 1.3%
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.2
NOTES TO FINANCIAL STATEMENTS
(5) Investment in Impaired Loans with or Without Allowance for Credit Losses:
Farm
Residential Commercial
Mezzanine
Total
Insured All
Other
Insured
All Other a. Current Year 1. With Allowance for Credit
Losses
$ -
$ -
$ -
$ -
$ -
$ -
$ - 2. No Allowance for Credit
Losses $ - $ - $ - $ - $ 2,101,942 $ - $2,101,942 b. Prior Year 1. With Allowance for Credit
Losses
$ -
$ -
$ -
$ -
$ -
$ -
$ - 2. No Allowance for Credit
Losses $ - $ - $ - $ - $ 2,166,641 $ - $ 2,166,641 (6) Investment in Impaired Loans – Average Recorded Investment, Interest Income
Recognized, Recorded Investment on Nonaccrual Status and Amount of Interest Income Recognized Using a Cash-basis Method of Accounting:
Farm
Residential Commercial
Mezzanine
Total
Insured All
Other
Insured
All Other a. Current year 1. Average Recorded Investment $ - $ - $ - $ - $ 1,050,971 $ - $ 1,050,971 2. Interest Income Recognized - - - - - - - 3. Recorded Investments on
Nonaccrual Status
-
-
-
-
112,248
-
112,248 4. Amount of Interest Income
Recognized Using Cash-Basis Method of Accounting
-
-
-
-
-
-
- b. Prior year 1. Average Recorded Investment $ - $ - $ - $ - $ 1,083,320 $ - $ 1,083,320 2. Interest Income Recognized - - - - - - - 3. Recorded Investments on
Nonaccrual Status
-
-
-
-
144,047
-
144,047 4. Amount of Interest Income
Recognized Using Cash-Basis Method of Accounting
-
-
-
-
-
-
-
(7) Allowance for Credit Losses:
2016 2015 a. Balance at beginning of period $ - $ - b. Additions charged to operations $ - $ - c. Direct write-downs charged against the allowances $ - $ - d. Recoveries of amounts previously charged off $ - $ - e. Balance at end of period $ - $ -
(8) Mortgage Loans Derecognized as Result of Foreclosure:
2016 a. Aggregate amount of mortgage loans derecognized $ - b. Real estate collateral recognized $ - c. Other collateral recognized $ - d. Receivables recognized from a government guarantee of the
foreclosed mortgage loans
$ - (9) Thrivent Financial recognizes interest income on its impaired loans upon receipt.
B. Debt Restructuring
2016 2015 (1) The total recorded investment in restructured loans, as of year-end $ 4,028,921 $ 4,093,620 (2) The realized capital losses related to these loans 6,538,625 461,368 (3) Total contractual commitments to extend credit to debtors owing
receivables whose terms have been modified in troubled debt restructurings
$ -
$ -
(4) Thrivent Financial accrues interest income on impaired loans to the extent it is deemed collectible (delinquent less than 180 days) and the loan continues to perform under its original or restructured contractual terms. Interest income on non-performing loans is generally recognized on a cash basis.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.3
NOTES TO FINANCIAL STATEMENTS
C. Reverse Mortgages
Thrivent Financial did not have any reverse mortgages during the years ended December 31, 2016 and 2015.
D. Loan-Backed Securities
(1) Prepayment assumptions for mortgage-backed/asset-backed and structured securities were obtained from Bloomberg.
(2) For all securities within the scope of SSAP No. 43R, Loan-Backed and Structured Securities,
no other-than-temporary impairment (OTTI) was recognized by Thrivent Financial on the basis of either ‘intent to sell’ or ‘inability or lack of intent to retain the investment in the security for a period of time sufficient to recover the amortized cost basis’.
(3) Thrivent Financial recognized other-than-temporary impairments during 2016 on the
following loan-backed securities where the present value of cash flows expected to be collected was less than the amortized cost basis of the security:
1
CUSIP
2
Book/Adjusted Carry Value
Amortized Cost before current period OTTI
3
Present Value of Projected Cash Flows
4
Recognized
OTTI
5
Amortized cost after OTTI
6
Fair Value at the time of
OTTI
7
Date of Financial
Statement where
Reported 05949AZT0 $ 9,480,503 $ - $ 320,520 $ 9,167,983 $ 9,251,177 Q4 94983BAT6 7,120,204 - 102,743 7,017,461 7,035,146 Q4 05948KVV8 9,592,535 - 120,359 9,472,176 9,335,817 Q4 05949AMK3 1,611,323 - 5,766 1,605,557 1,617,548 Q4 07389QAA6 6,951,349 - 229,064 6,722,285 5,928,884 Q4 75970QAJ9 2,651,684 - 118,536 2,533,148 2,301,220 Q4 22943HAG1 5,696,998 - 474,001 5,222,997 4,002,020 Q4 Totals $ 43,104,596 $ - $ 1,370,989 $ 41,741,607 $ 39,471,812
(4) As of December 31, 2016, Thrivent Financial held loan-backed securities with a book
adjusted carrying value of $2.2 billion and a fair value of $2.2 billion. The securities have unrealized gains of $42 million and unrealized losses totaling $36 million.
a. The aggregate amount of unrealized losses 1. Less than 12 Months $ 34,194,189 2. 12 Months or Longer $ 1,726,903 b. The aggregate related fair value of securities with unrealized losses 1. Less than 12 Months $ 2,229,664,769 2. 12 Months or Longer $ 3,266,565
(5) All loan-backed securities in an unrealized loss position were reviewed to determine whether
an other-than-temporary impairment should be recorded. Thrivent Financial has evaluated projected cash flows and impaired those securities where cash flows expected to be collected was less than the amortized cost basis. Detailed analysis of underlying credit and cash flows are reviewed for each security. It is possible that Thrivent Financial could recognize other-than-temporary impairments in the future on some of the securities held at December 31, 2016, as additional information regarding these securities becomes known.
E. Repurchase Agreements and/or Securities Lending Transactions
(1) Thrivent Financial has no repurchase agreements as of December 31, 2016 and 2015.
For securities lending agreements, Thrivent Financial follows statutory guidance for minimum collateral required on loaned securities at the outset of the contract. Cash collateral received is invested in bonds, cash equivalents and short-term investments and the offsetting collateral liability is included in payable for securities lending. The fair value of the collateral as of December 31, 2016 was $513 million.
(2) Thrivent Financial did not pledge any of its assets as collateral for security lending
arrangements as of December 31, 2016.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.4
NOTES TO FINANCIAL STATEMENTS
(3) Collateral Received - Securities Lending
a. Aggregate Amount Collateral Received
1. Repurchase Agreement Fair Value (a) Open $ - (b) 30 Days or Less - (c) 31 to 60 Days - (d) 61 to 90 Days - (e) Greater Than 90 Days - (f) Sub-total - (g) Securities Received - (h) Total Collateral Received $ - 2. Securities Lending (a) Open $ 513,022,836 (b) 30 Days or Less - (c) 31 to 60 Days - (d) 61 to 90 Days - (e) Greater Than 90 Days - (f) Sub-total 513,022,836 (g) Securities Received - (h) Total Collateral Received $ 513,022,836 3. Dollar Repurchase Agreement (a) Open $ - (b) 30 Days or Less - (c) 31 to 60 Days - (d) 61 to 90 Days - (e) Greater Than 90 Days - (f) Sub-total - (g) Securities Received - (h) Total Collateral Received $ -
b.
The fair value of that collateral and of the portion of that collateral that it has sold or repledged
$ 513,022,836
c. Thrivent Financial receives cash collateral in an amount in excess of the fair value of
the securities loaned. The cash collateral is reinvested and administered by Thrivent Financial, which invests in bonds, cash equivalents and short-term securities.
(4) For securities lending transactions administered by Thrivent Financial, the aggregate value
of Thrivent Financial’s reinvested collateral that is reported in the investment schedules is $513 million. Thrivent Financial has no reinvested collateral administered by Thrivent Financial that is one-line reported.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.5
NOTES TO FINANCIAL STATEMENTS
(5) Collateral Reinvested - Securities Lending
a. Thrivent Financial's aggregate amount of cash collateral reinvested in its securities lending program as of December 31, 2016 is: Aggregate Amount Cash Collateral Reinvested
1. Repurchase Agreement
Amortized Cost
Fair Value
(a) Open $ - $ - (b) 30 days or less - - (c) 31 to 60 days - - (d) 61 to 90 days - - (e) 91 to 120 days - - (f) 121 to 180 days - - (g) 181 to 365 days - - (h) 1 to 2 years - - (i) 2 to 3 years - - (j) Greater than 3 years - - (k) Sub-total $ - $ - (l) Securities received - - (m) Total Collateral
Reinvested $
-
$
-
2. Securities Lending Amortized Cost Fair Value (a) Open $ 95,010,000 $ 95,010,000 (b) 30 days or less 316,806,458 316,806,458 (c) 31 to 60 days 53,231,378 53,231,378 (d) 61 to 90 days 4,210,000 4,210,000 (e) 91 to 120 days - - (f) 121 to 180 days 5,000,000 5,000,000 (g) 181 to 365 days 10,000,000 10,000,000 (h) 1 to 2 years - - (i) 2 to 3 years - - (j) Greater than 3 years 28,765,000 28,765,000 (k) Sub-total $ 513,022,836 $ 513,022,836 (l) Securities received - - (m) Total Collateral
Reinvested $
513,022,836
$
513,022,836
3. Dollar Repurchase Agreement (a) Open $ - $ - (b) 30 days or less - - (c) 31 to 60 days - - (d) 61 to 90 days - - (e) 91 to 120 days - - (f) 121 to 180 days - - (g) 181 to 365 days - - (h) 1 to 2 years - - (i) 2 to 3 years - - (j) Greater than 3 years - - (k) Sub-total $ - $ - (l) Securities received - - (m) Total Collateral
Reinvested $
-
$
-
b. The maturity dates of the liabilities generally match the maturity dates of the invested
assets.
(6) Thrivent Financial has not accepted collateral that it is not permitted to sell or repledge. (7) Collateral for securities lending transactions that extends beyond one year from December
31, 2016:
Description of Collateral Amount Long-term bonds (refer to schedule DL Part 2 for details) $ 28,765,000 Total Collateral Extending beyond one year of the reporting date $ 28,765,000
F. Real Estate
(1) During 2016, there were $0 million of impairment losses recognized on investments
in real estate, which are included in net realized capital gains and losses on the Summary of Operations.
(2) Thrivent Financial has approximately $2 million of real estate classified as held for
sale with no firm dates as to any anticipated sales.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.6
NOTES TO FINANCIAL STATEMENTS
(3) Thrivent Financial has not experienced any changes to a plan of sale for any
investment in real estate. (4) Thrivent Financial does not engage in any retail land sales operations. (5) Thrivent Financial does not hold real estate investments with participating mortgage loan
features.
G. Thrivent Financial has no investments in low-income housing tax credits as of December 31, 2016.
H. Restricted Assets
(1) Restricted Assets (including Pledged)
Restricted Asset Category
Gross Restricted Current Year 6 7
1 2 3 4 5
Total General Account
(G/A)
G/A Supporting
S/A Activity (a)
Total Separate Account
(S/A) Restricted
Assets
S/A Assets Supporting G/A Activity
(b)
Total 1+3
Total from Prior Year
Increase/ (Decrease) (5 – 6)
a. Subject to contractual obligation for with liability is not shown
$ -
$ -
$ -
$ -
$ -
$ -
$ - b. Collateral
held under security lending agreements
513,022,836
-
-
-
513,022,836
377,077,104
135,945,732 c. Subject to
repurchase agreements
-
-
-
-
-
-
- d. Subject to
reverse repurchase agreements
-
-
-
-
-
-
- e. Subject to
dollar repurchase agreements
-
-
-
-
-
-
- f. Subject to
dollar reverse repurchase agreements
-
-
-
-
-
-
- g. Placed under
option contracts
-
-
-
-
-
-
- h. Letter stock
or securities restricted as to sale
-
-
-
-
-
-
- i. FHLB capital
stock
-
-
-
-
-
-
- j. On deposit
with states
1,093,874
-
-
-
1,093,874
671,906
421,968 k. On deposit
with other regulatory bodies
-
-
-
-
-
-
- l. Pledged as
collateral to FHLB
-
-
-
-
-
-
- m.
Pledged as collateral not captured in any other categories
38,400,000
-
-
-
38,400,000
46,551,886
(8,151,886) n. Other
restricted assets
-
-
-
-
-
-
- o. Total
Restricted Assets
$552,516,710
$ -
$ -
$ -
$ 552,516,710
$ 424,300,896
$ 128,215,814
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.7
NOTES TO FINANCIAL STATEMENTS
Restricted Asset Category
Current Year
8
9
Percentage
10
11
Total
Nonadmitted Restricted
Total Admitted
Restricted
Gross (Admitted &
Nonadmitted) Restricted to Total
Assets (c)
Admitted Restricted to Total Admitted Assets (d)
a. Subject to contractual obligation for with liability is not shown
$ -
$ -
-
-
b. Collateral held under security lending agreements
-
513,022,836
0.60%
0.60%
c. Subject to repurchase agreements -
-
-
-
d. Subject to reverse repurchase agreements -
-
-
-
e. Subject to dollar repurchase agreements -
-
-
-
f. Subject to dollar reverse repurchase agreements
-
-
-
-
g. Placed under option contracts -
-
-
-
h. Letter stock or securities restricted as to sale -
-
-
-
i. FHLB capital stock -
-
-
-
j. On deposit with states -
1,093,874
0%
0%
k. On deposit with other regulatory bodies -
-
-
-
l. Pleaded as collateral to FHLB -
-
-
-
m. Pledged as collateral not captured in any other categories
-
38,400,000
0.05%
0.05%
n. Other restricted assets -
-
-
-
o. Total Restricted Assets $ -
$552,516,710
0.65%
0.65%
(c) Column 5 divided by Asset Page, Column 1, Line 28 (d) Column 9 divided by Asset Page, Column 3, Line 28
(2) Detail of Assets Pledged as Collateral Not Captured in Other Categories (Contracts that Share Similar Characteristics, Such as Reinsurance and Derivatives, Are Reported in the Aggregate)
Other Restricted
Asset
Gross Restricted 8 Percentage Current Year 6 7 9 10
1 2 3 4 5
Total General Account
(G/A)
G/A Supporting
S/A Activity (a)
Total Separate Account
(S/A) Restricted
Assets
S/A Assets
Supporting G/A
Activity (b)
Total 1+3
Total from Prior Year
Increase/ (Decrease)
(5 – 6)
Total Current
Year Admitted
Restricted
Gross (Admitted &
Nonadmitted) Restricted to Total Assets
Admitted Restricted
to Total Admitted Assets
Pledged on Futures Contracts
$38,400,000
$ -
$ -
$ -
$38,400,000
$46,551,886
$5,409,967
$38,440,000
0.05%
0.05%
Total (c) $38,400,000 $ - $ - $ - $38,400,000 $46,551,886 $8,151,886 $38,440,000 0.05% 0.05% (a) subset of column 1 (b) subset of column 3 (c) Total Line for Columns 1 through 7 should equal 5H(1)m Columns 1 through 7 respectively and Total Line for Columns 8 through 10 should equal 5H(1)m
Columns 9 thought 11 Respectively
(3) Detail of Other Restricted Assets (Contracts That Share Similar Characteristics, Such as Reinsurance and Derivatives, Are Reported in the Aggregate)
Collateral Agreement
Gross Restricted 8
Percentage Current Year
6 7
9
10 1 2 3 4 5
Total General Account
(G/A)
G/A Supporting S/A Activity
(a)
Total Separate Account
(S/A) Restricted
Assets
S/A Assets Supporting
G/A Activity (b)
Total 1+3
Total from Prior Year
Increase/ (Decrease)
(5 – 6)
Total Current
Year admitted
Restricted
Gross (Admitted &
Nonadmitted) Restricted to Total Assets
Admitted Restricted
to Total Admitted Assets
NONE Total (c) (a) subset of column 1 (b) subset of column 3 (c) Total Line for Columns 1 through 7 should equal 5H(1)m Columns 1 through 7 respectively and Total Line for Columns 8 through 10 should
equal 5H(1)m Columns 9 thought 11 Respectively
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.8
NOTES TO FINANCIAL STATEMENTS
(4) Collateral Received and Reflected as Assets Within the Reporting Entity’s Financial
Statements
Collateral Assets
1
Book/Adjusted Carrying Value (BACV)
2
Fair Value
3 % of BACV to Total
Assets (Admitted and Nonadmitted)*
4
% of BACV to Total Admitted Assets**
a. Cash $ 460,737,860 $ 460,737,860 0.79% 0.79% b. Schedule D, Part 1 52,284,976 52,284,976 0.09% 0.09% c. Schedule D, Part 2, Section 1 - - - - d. Schedule D, Part 2, Section 2 - - - - e. Schedule B - - - - f. Schedule A - - - - g. Schedule BA, Part 1 - - - - h. Schedule DL, Part 1 - - - - i. Other - - - - j. Total Collateral Assets
(a+b+c+d+e+f+g+h+i)
$ 513,022,836
$ 513,022,836
0.88%
0.88% *Column 1 divided by Asset Page, Line 26 (Column 1) **Column 1 divided by Asset Page, Line 26 (Column 3)
1
Amount
2 % of Liability to Total
Liabilities* k. Recognized Obligation to
Return Collateral Asset $ 523,112,442
1.04%
*Column 1 divided by Liability Page, Line 23 (Column 1)
I. Working Capital Finance Investments
Thrivent Financial holds no working capital finance investments as of December 31, 2016.
J. Offsetting and Netting of Assets and Liabilities
Thrivent Financial presents securities lending agreements and derivatives on a gross basis in the financial statements.
K. Structured Notes
CUSIP Identification
Actual Cost
Fair Value
Book/Adjusted Carrying Value
Mortgage-referenced Security
(YES/NO) 912810QF8 $ 5,425,719 $ 6,925,686 $ 6,002,523 NO 912828B25 25,204,134 26,354,835 26,099,570 NO 912828HN3 15,310,623 17,760,207 17,315,334 NO 912828JE1 64,496,454 75,610,151 72,247,804 NO 912828NM8 26,269,079 30,436,367 29,055,121 NO 912828QV5 77,902,815 83,005,004 83,110,321 NO 912828UH1 26,561,875 27,027,390 27,641,159 NO TOTAL $ 241,170,699 $ 267,119,640 $ 261,471,832
L. 5* Securities
Thrivent Financial held no “5*” securities at either December 31, 2016 or 2015.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.9
NOTES TO FINANCIAL STATEMENTS
6. Joint Ventures, Partnerships, and Limited Liability Companies
A. Thrivent Financial has no investments in Joint Ventures, Partnerships, or Limited Liability
Companies that exceed 10% of its admitted assets.
B. During 2016, there were $1 million of impairment losses recognized on investments in Joint Ventures, Partnerships, or Limited Liability Companies and these losses are included in net realized gains and losses on the Summary of Operations.
7. Investment Income
A. Investment income due and accrued was excluded from surplus on the following bases: All investment income due and accrued with amounts that are over 90 days past due with the exception of mortgage loans in default.
B. The amount of investment income due and accrued that was nonadmitted and excluded from surplus was $1 million at both December 31, 2016 and 2015.
8. Derivative Instruments
A-C. Thrivent Financial uses derivative financial instruments in the normal course of business to manage investment risks, to reduce interest rate and duration imbalances determined in asset/liability analyses and to offset risks associated with the guaranteed living benefits features of certain variable annuity products. The accounting for derivatives complies with the guidance as outlined in SSAP No. 86, Derivatives.
Thrivent Financial uses over-the-counter S&P 500 index call spread options (i.e. buying call options and selling cap call options) to manage risks associated with its fixed indexed deferred annuities. The call options are reported at fair value as a derivatives asset and the cap call options are reported at fair value as a derivatives liability. The changes in the fair value of the call spread options are recorded in unrealized gains and losses.
Thrivent Financial utilizes exchange-traded futures to reduce market risk from changes in
interest rates, to alter mismatches between the duration of assets in a portfolio and the duration of liabilities supported by those assets and to hedge against changes in the value of securities it owns or anticipates acquiring or selling. In exchange-traded futures transactions, Thrivent agrees to purchase or sell a specified number of contracts, the values of which are determined by the values of designated classes of securities, and to post variation margin on a daily basis in an amount equal to the difference in the daily market values of those contracts. The fair value of exchange-traded futures is based on market quotes. Cash paid for the future contract is recorded as a derivatives asset. The future contracts are valued at fair value at each reporting period and the change in the fair value is recognized in earnings.
Thrivent Financial sells covered written call option contracts to enhance the return on
residential mortgage-backed “to be announced” collateral which it owns. The premium received for these call options is recorded as a derivatives liability at book value at each reporting period. All positions in these contracts are settled at month end. Upon disposition of the options, the gains are recorded as a component of net investment income. During the years ended December 31, 2016 and 2015, $10 million and $12 million were received in call premium, respectively.
Thrivent Financial utilizes foreign currency swaps to manage the risk associated with changes in the exchange rate of foreign currency to U.S. dollar payments. The swaps are valued at fair value at each reporting period, and the change in the fair value is recognized in earnings. No cash is exchanged at the outset of the swaps, and interest payments received are recorded as a component of net investment income. The statement values of the swaps are $20 million and $21 million for years ended 2016 and 2015, respectively.
D. Thrivent Financial has no unrealized gains or losses recognized on derivatives designated for
hedge accounting that were excluded from the assessment of hedge effectiveness. E. Thrivent Financial has no unrealized gains or losses that were recognized on derivatives that
no longer qualify for hedge accounting. F. Thrivent Financial has no cash flow hedges of forecasted transactions.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.10
NOTES TO FINANCIAL STATEMENTS
9. Income Taxes
Thrivent Financial is a fraternal benefit society and, as such, is generally exempt from federal income taxes.
10. Information Concerning Parent, Subsidiaries, Affiliates and Other Related Parties
A/B/C. Thrivent Financial received no dividend for the year ended 2016 and $46 million in cash
dividends from its wholly-owned subsidiaries, Thrivent Financial Holdings, Inc. (Holdings) and Gold Ring Holdings, LLC (Gold Ring), in 2015. Thrivent Financial contributed capital to these subsidiaries totaling $16 million and $19 million during the years ended December 31, 2016 and 2015, respectively.
Thrivent Financial received $765 million and $757 million in distributions from its majority-owned limited partnerships, Thrivent White Rose Funds Limited (WRF) and Pacific Street Fund Limited (PSF) in 2016 and 2015, respectively. Thrivent Financial contributed capital to these limited partnerships totaling $509 million and $397 million during the years ended December 31, 2016 and 2015, respectively. Thrivent Financial contributed capital to Red Heart Education Funding LLC totaling $11 million during the year ended December 31, 2016.
D. As of December 31, 2016 and 2015, Thrivent Financial had an outstanding net receivable of
$16 million and $11 million, respectively, with its affiliates. All outstanding intercompany balances are generally settled within 30 days.
E. Thrivent Financial has not made any guarantees or other commitments that might result in a material contingent exposure of Thrivent Financial, except as disclosed in Note 14.
F. Thrivent Financial has service agreements with various subsidiaries and affiliates, which provide
human resources, IT services, facilities, product administration, marketing support and sales support. The agreements obligate the subsidiaries and affiliates to reimburse Thrivent Financial for the cost of providing such services. Costs for these services are allocated amongst the members of the affiliated group using allocation methodologies that are in accordance with SSAP No. 70, Allocation of Expenses.
G. Thrivent Financial is a fraternal benefit society and is owned by its members.
H. Thrivent Financial does not own any shares of stock in any upstream affiliated company.
I. Thrivent Financial does not have any investment in any affiliated company with a value of more
than 10% of Thrivent Financial’s admitted assets.
J. Thrivent Financial does not have any investment in any affiliated company that is impaired. K. Thrivent Financial does not have any investment in a foreign insurance subsidiary.
L. Thrivent Financial has investments in downstream noninsurance companies whose value is
determined based on audited GAAP financial statements.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.11
NOTES TO FINANCIAL STATEMENTS
M. All SCA Investments
(1) Balance Sheet Value (Admitted and Nonadmitted) All SCAs
SCA Entity
Percentage
of SCA Ownership
Gross Amount
Admitted Amount
Nonadmitted Amount
a. SSAP No. 97 8a Entities $ $ $ Total SSAP No. 97 8a Entities XXX $ $ $ b. SSAP No. 97 8b(ii) Entities Thrivent Financial Holdings Inc. 100% $ 104,755,408 $ 104,755,408 $ Total SSAP No. 97 8b(ii) Entities XXX $ $ $ c. SSAP No. 97 8b(iii) Entities $ $ $ Total SSAP No. 97 8b(iii) Entities XXX $ $ $ d. SSAP No. 97 8b(iv) Entities $ $ $ Total SSAP No. 97 8b(iv) Entities XXX $ $ $ e. Total SSAP No. 97 8b Entities(b+c+d) XXX $ 104,755,408 $ 104,755,408 $ f. Aggregate Total (a+e) XXX $ 104,755,408 $ 104,755,408 $
(2) NAIC Filing Response Information
SCA Entity (Should be same entities as shown in M(1)
above.)
Type of
NAIC Filing*
Date of Filing to the NAIC
NAIC Valuation Amount
NAIC Response Received
Y/N
NAIC Disallowed
Entities Valuation Method,,
Resubmission Required
Y/N
Code**
a. SSAP No. 97 8a Entities $ Total SSAP No. 97 8a Entities XXX XXX $ XXX XXX XXX b. SSAP No. 97 8b(ii) Entities Thrivent Financial Holdings Inc. S2 May 12, 2016 $ 82,580,762 Y N Total SSAP No. 97 8b(ii) Entities XXX XXX $ XXX XXX XXX c. SSAP No. 97 8b(iii) Entities $ Total SSAP No. 97 8b(iii) Entities XXX XXX $ XXX XXX XXX d. SSAP No. 97 8b(iv) Entities $ Total SSAP No. 97 8b(iv) Entities XXX XXX $ XXX XXX XXX e. Total SSAP No. 97 8b Entities(b+c+d) XXX XXX $ 82,580,762 XXX XXX XXX f. Aggregate Total (a+e) XXX XXX $ 82,580,762 XXX XXX XXX
* S1 – Sub-1, S2 – Sub-2 or RDF – Resubmission of Disallowed Filing ** I – Immaterial or M – Material
N. Thrivent Financial does not have an interest in an insurance SCA which departs from NAIC
statutory accounting practices and procedures. 11. Debt
A. Thrivent Financial has no outstanding obligations for capital notes, reverse repurchase
agreements or borrowed money as of December 31, 2016 and 2015.
B. Thrivent Financial has not entered into any advances, lines of credit or borrowing arrangements with the Federal Home Loan Bank.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.12
NOTES TO FINANCIAL STATEMENTS
12. Retirement Plans, Deferred Compensation, Postemployment Benefits and Compensated
Absences, and Other Postretirement Benefit Plans A. Defined Benefit Plans
Thrivent Financial has a qualified noncontributory defined benefit retirement plan which provides benefits to substantially all home office and field employees upon retirement. Thrivent Financial also provides certain health care and life insurance benefits for substantially all retired home office and field personnel. A summary of assets, obligations and assumptions of the Retirement and Other Postretirement Benefit Plans as of December 31 are as follows:
(1) Change in projected benefit obligation a. Pension Benefits Overfunded Underfunded 2016 2015 2016 2015 1. Benefit obligation at January 1 $ - $ - $ 1,111,318,884 $ 1,170,298,685 2. Service cost - - 22,669,450 23,189,245 3. Interest cost - - 50,031,355 48,211,029 4. Contribution by plan participants - - 215,035 554,401 5. Actuarial gain/loss - - (57,377,694) (89,101,233) 6. Foreign currency exchange rate changes - - - - 7. Benefits paid - - (43,684,032) (41,833,243) 8. Plan amendments - - - - 9. Business combinations, divestitures,
curtailments, settlements and special termination benefits
-
-
-
- 10. Benefit obligation at December 31 $ - $ - $ 1,083,172,998 $ 1,111,318,884
b. Postretirement Benefits Overfunded Underfunded 2016 2015 2016 2015 1. Benefit obligation at January 1 $ - $ - $ 108,855,930 $ 122,691,427 2. Service cost - - 1,635,323 1,847,662 3. Interest cost - - 4,860,259 5,015,491 4. Contribution by plan participants - - - - 5. Actuarial gain/loss - - 1,254,424 (14,379,111) 6. Foreign currency exchange rate changes - - - - 7. Benefits paid - - (5,197,098) (6,319,539) 8. Plan amendments - - - - 9. Business combinations, divestitures,
curtailments, settlements and special termination benefits
-
-
-
- 10. Benefit obligation at December 31 $ - $ - $ 111,408,838 $ 108,855,930
c. Special or Contractual Benefits Per SSAP No. 11 Overfunded Underfunded 2016 2015 2016 2015 1. Benefit obligation at January 1 $ - $ - $ - $ - 2. Service cost - - - - 3. Interest cost - - - - 4. Contribution by plan participants - - - - 5. Actuarial gain/loss - - - - 6. Foreign currency exchange rate changes - - - - 7. Benefits paid - - - - 8. Plan amendments - - - - 9. Business combinations, divestitures,
curtailments, settlements and special termination benefits
-
-
-
- 10. Benefit obligation at December 31 $ - $ - $ - $ -
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.13
NOTES TO FINANCIAL STATEMENTS
(2) Change in plan assets Pension Benefits Postretirement Benefits Special or Contractual
Benefits Per SSAP No 11 2016 2015 2016 2015 2016 2015 a. Fair value of plan assets at
January 1
$892,033,006
$870,898,219
$ -
$ - $ -
$ -
b. Actual return on plan assets 66,804,021 2,413,629 - - c. Foreign currency exchange rate
changes
-
- d. Reporting entity contribution 20,000,000 60,000,000 5,197,098 6,319,539 - - e. Plan participants’ contributions 215,035 554,401 - - f. Benefits paid (43,684,032) (41,833,243) (5,197,098) (6,319,539 - - g. Business combinations,
divestitures and settlements
-
- h. Fair value of plan assets at
December 31
$935,368,030
$892,033,006
$ -
$ -
$ -
$ -
(3) Funded Status Pension Benefits Postretirement Benefits
2016 2015 2016 2015 Overfunded: a. Assets 1. Prepaid benefit costs $ 151,792,875 $ 162,654,009 $ - $ - 2. Overfunded plan assets (151,792,875) (162,654,009) - -
3. Total assets (nonadmitted) $ - $ - $ - $ - Underfunded: b. Liabilities recognized 1. Accrued benefit costs $ - $ - $(122,204,500) $(114,982,122) 2. Liability for pension benefits (147,804,968) (219,285,878) 10,795,662 6,126,192 3. Total liability recognized $(147,804,968) $(219,285,878) $(111,408,838) $(108,855,930) c. Unrecognized liability $ - $ - $ - $ -
(4) Components of net periodic benefit cost Pension benefits Postretirement Benefits Special or Contractual
Benefits Per SSAP No 11 2016 2015 2016 2015 2016 2015 a. Service cost $ 22,669,450 $ 23,189,245 $ 1,635,323 $ 1,847,662 $ - $ - b. Interest Cost 50,031,355 48,211,029 4,860,259 5,015,491 - - c. Expected return on plan assets (68,076,250) (68,696,877) - - - - d. Amortization of unrecognized
transition obligation or transition asset
-
-
-
-
-
- e. Amount of recognized gain and
losses
27,291,855
32,204,284
(1,340,742)
(482,253)
-
- f. Amount of prior service cost
recognized
(1,055,276)
(1,055,276)
7,264,636
7,264,637
-
- g. Amount of gain or loss
recognized due
-
-
-
-
-
- h. Total net period benefit cost $ 30,861,134 $ 33,852,405 $ 12,419,476 $ 13,645,537 $ - $ - (5) Amounts in unassigned funds (surplus) recognized as components of net period benefit cost Pension Benefits Postretirement Benefits 2016 2015 2016 2015 a. Items not yet recognized as a
component of net periodic cost – prior year
$ -
$ -
$ -
$ - b. Net transition asset or obligation
recognized
-
-
-
- c. Net prior service cost or credit
arising during the period
-
-
-
- d. Net prior service cost or credit
recognized
1,055,276
1,055,276
(7,264,636)
(7,264,637) e. Net gain and loss arising during
the period
(56,105,465)
(22,817,985)
1,254,424
(14,379,111) f. Net gain and loss recognized (27,291,855) (32,204,284) 1,340,742 482,253 g. Items not yet recognized as a
component of net period cost – current year
$(82,342,044)
$(53,966,993)
$ (4,669,470)
$(21,161,495)
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.14
NOTES TO FINANCIAL STATEMENTS
(6) Amounts in unassigned funds (surplus) expected to be recognized in the next fiscal year as components of net
periodic benefit cost Pension Benefits Postretirement Benefits 2016 2015 2016 2015 a. Net transition asset or obligation $ - $ - $ - $ - b. Net prior service cost or credit (1,055,276) (1,055,276) 7,517,714 7,264,636 c. Net recognized gains and losses $ 19,233,582 $ 27,291,855 $ (1,090,358) $ (1,340,742)
(7) Amounts in unassigned funds (surplus) that have not yet been recognized in the next fiscal year as components of net periodic benefit cost
Pension Benefits Postretirement Benefits 2016 2015 2016 2015 a. Net transition asset or obligation $ - $ - $ - $ - b. Net prior service cost or credit (1,055,273) (2,110,549) 11,664,250 18,928,886 c. Net recognized gains and losses $ 300,653,116 $ 384,050,436 $ (22,459,912) $ (25,055,078)
(8) Weighted-average assumptions used to determine net periodic benefit cost: 2016 2015 a. Weighted-average discount rate 4.60% 4.60% b. Expected long term rate of return on plan assets 7.75% 8.00% c. Rate of compensation increase 3.90% 3.00% Weighted-average assumptions used to determine projected benefit obligations: 2016 2015 d. Weighted-average discount rate 4.30% 4.60% e. Rate of compensation increase N/A N/A
(9) The amount of the accumulated benefit obligation for the defined benefit plan was $1.0 billion and $1.1 billion for the years ended December 31, 2016 and 2015 respectively.
(10) For measurement purposes, a 7.00% and 8.25% annual rate of increase for pre-65 participants and post-65 participants respectively, in the per capita cost of covered health care benefits was assumed for 2016. The rate was assumed to decrease gradually to 4.50% for 2026 and remain at that level thereafter.
(11) For postretirement benefits other than pensions, assumed health care costs trend rates
have a significant effect on the amounts reported for the health care plans. A one-percentage-point change in assumed health care cost trend rate would have the following effects:
1 Percentage Point
Increase 1 Percentage
Point Decrease a. Effect on total of service and interest cost components $ 827,678 $ 700,409 b. Effect on postretirement benefit obligation $ 12,110,171 $ 10,355,807
(12) The following estimated future payments, which reflect future service, as appropriate, are
expected to be paid in the years indicated:
Retirement Plans
Other Postretirement Benefit Plans
a. 2017 50,500,000 6,587,000 b. 2018 52,400,000 7,092,000 c. 2019 55,100,000 7,597,000 d. 2020 57,700,000 8,001,000 e. 2021 59,900,000 8,204,000 f. 2022 336,800,000 42,049,000
(13) The minimum pension contribution for 2016 under the Employee Retirement Income
Security Act of 1974 guidelines will be determined in the first quarter of 2017.
(14) Pension plan holds $66 million in affiliated mutual funds.
(15) Thrivent Financial does not use alternative methods to amortize prior service amounts or unrecognized net gains or losses.
(16) Thrivent Financial does not use any substantive commitments as the basis for accounting
for the benefit obligation.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.15
NOTES TO FINANCIAL STATEMENTS
(17) Thrivent Financial did not have any special contractual benefits recognized during the
period. (18) Thrivent Financial did not have any significant changes in benefit obligations not apparent in
other disclosure requirements of SSAP No. 102, Pensions and SSAP No. 92, Postretirement Benefits Other Than Pensions.
(19) There are no plans to return plan assets to Thrivent Financial during 2017 or beyond. (20) See Note 12(A)(3) for information relating to Thrivent Financial’s defined benefit pension
and postretirement benefit plans funded status and note 12(A)(5) for benefit plan related surplus impacts during 2016 and 2015.
(21) Thrivent Financial did not elect the transition guidance and fully recognized the impact of
adoption of SSAP No. 102, Pensions and SSAP No. 92, Postretirement Benefits Other Than Pensions in 2016.
B. The defined benefit pension plan asset allocation as of the measurement date December 31 and
the target asset allocation, presented as a percentage of total plan assets were as follows:
2016
2015
Target Allocation
a. Debt Securities 39% 39% 40% b. Equity Securities 61% 61% 60% c. Total 100% 100% 100%
The assets of Thrivent Financial’s qualified defined benefit plan are held in trust. Thrivent Financial has a benefit plan advisory committee that sets investment guidelines, which are established based on market conditions, risk tolerance, funding requirements and expected benefit payments. A third party oversees the investment allocation process and monitors asset performance. As pension liabilities are long-term in nature, Thrivent Financial employs a long-term total return approach to maximize the long-term rate of return on plan assets for a prudent level of risk. The investment portfolio contains a diversified portfolio of investment categories including equities and fixed income securities. Securities are also diversified in terms of domestic and international securities, short and long-term securities, growth and value styles, large cap and small cap stocks, active and passive management and derivative-based styles. With prudent risk tolerance and asset diversification, the plan is expected to meet its pension obligations in the future.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.16
NOTES TO FINANCIAL STATEMENTS
C.
(1) Fair Value Measurement of Plan Assets as of December 31, 2016:
Description of each class of plan assets (Level 1) (Level 2) (Level 3) Total Bonds: U.S. government and agency securities $ 102,572,325 $ 15,553 $ - $ 102,587,878 Securities issued by foreign governments - 1,336,790 - 1,336,790 Corporate debt securities - 173,350,978 828,088 174,179,066 Residential mortgage-backed securities - 103,285,860 380,656 103,666,516 Commercial mortgage-backed securities - 5,116,644 - 5,116,644 Collateralized debt obligations - - - - Other debt obligations - 11,700,583 - 11,700,583 Common stocks 361,124,865 7,473,550 - 368,598,415 Preferred Stock - 409,023 - 409,023 Affiliated mutual funds-equity funds 66,434,806 - - 66,434,806 Cash, Cash Equivalents, Short-term investments - 155,109,874 - 155,109,874 Limited Partnerships - - 34,797,421 34,797,421 Derivatives 189,655 - - 189,655 Total Plan Assets $ 530,321,651 $ 457,798,855 $ 36,006,165 $ 1,024,126,671
(2) Fair Value Measurement in Level 3 of the Fair Value Hierarchy
Description of each class of plan assets
Beginning Balance at 01/01/2016
Transfers into Level
3
Transfers
out of Level 3
Return on Assets Still
Held
Return on
Assets Sold
Purchases
Issuances
Sales
Settlements
Ending
Balance at 12/31/2016
Limited Partnerships
$19,028,746
$ -
$ -
$3,046,144
$ -
$ 20,276,633
$ -
$(7,554,102)
$ -
$34,797,421
Residential mortgage-backed securities
443,493
-
-
10,717
-
-
-
(73,554)
-
380,656 Corporate
Debt Securities
288,619
-
-
86,363
-
823,283
-
(370,176)
-
828,089 Collateralized
Debt Obligations
-
-
-
-
-
-
-
-
-
- Total Plan
Assets
$19,760,858
$ -
$ - $3,143,224
$ -
$ 21,099,916
$ -
$(7,997,832)
$ -
$36,006,166
(3) See footnote 20c for discussion regarding valuation techniques and inputs used to measure fair value
D. As pension liabilities are long-term in nature, Thrivent Financial employs a long-term total return
approach to maximize the long-term rate of return on plan assets for a prudent level of risk. The investment portfolio contains a diversified portfolio of investment categories including equities and fixed income securities. Securities are also diversified in terms of domestic and international securities, short and long-term securities, growth and value styles, large cap and small cap stocks, active and passive management and derivative-based styles. With prudent risk tolerance and asset diversification, the plan is expected to meet its pension obligations in the future.
E. Defined Contribution Plans
Thrivent Financial provides contributory and noncontributory defined contribution retirement benefits, which cover substantially all home office and field employees. Eligible participants in the 401(k) plan may elect to contribute a percentage of their eligible earnings and Thrivent Financial will match participant contributions up to six percent of eligible earnings. In addition, Thrivent Financial will contribute a percentage of eligible earnings for participants in a non-contributory plan for field employees. A portion of the assets of the defined contribution plans were invested in a deposit administration contract issued by Thrivent Financial. The amounts of these assets were $90 million and $93 million as of December 31, 2016 and 2015, respectively. Employer contributions to the plans were $34 million and $32 million for the years ended December 31, 2016 and 2015, respectively.
F. Multi-employer Plans
Thrivent Financial does not participate in any multi-employer plans.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.17
NOTES TO FINANCIAL STATEMENTS
G. Consolidated/Holding Company Plans
Thrivent Financial does not participate in any consolidated/holding company plans.
H. Postemployment Benefits and Compensated Absences Thrivent Financial has accrued for compensated absences that are attributable to employees'
services already rendered. I. Impact of Medicare Modernization Act on Postretirement Benefits
The Medicare Prescription Drug, Improvement and Modernization Act of 2003 includes a federal subsidy to sponsors of retirement health care plans that provide a prescription benefit that is at least actuarially equivalent to Medicare Part D. Thrivent’s Medicare prescription plan is fully insured and therefore the plan’s insurer receives the federal subsidy. Thrivent Financial offers a prescription benefit option of a fully insured Medicare Part D Plan to insureds of a retirement health care plan. Thrivent Financial and the insured share the cost of the premium for the prescription benefit option. The provider of this Medicare Part D Plan pays the benefits on behalf of the insured.
13. Capital and Surplus, Shareholders’ Dividends Restrictions and Quasi-Reorganizations
(1) Thrivent Financial has no common stock authorized, issued or outstanding. (2) Thrivent Financial has no preferred stock authorized, issued or outstanding. (3) Thrivent Financial does not pay ordinary dividends as a fraternal benefit society. (4) Thrivent Financial does not pay ordinary dividends as a fraternal benefit society. (5) Thrivent Financial does not pay ordinary dividends as a fraternal benefit society. (6) There are no restrictions on Thrivent Financial's unassigned surplus. (7) There have been no advances to surplus not repaid. (8) There was no stock held by Thrivent Financial for special purposes. (9) Thrivent Financial has no special surplus funds. (10) The portion of unassigned surplus represented or reduced by cumulative unrealized
gains and (losses) was:
2016 2015 a. Unrealized gains and losses $ 425,162,465 $ 357,276,699
(11) Thrivent Financial has issued no surplus debentures. (12) Thrivent Financial has not completed any quasi-reorganizations.
14. Liabilities, Contingencies and Assessments
A. Contingent Commitments
Thrivent Financial has guaranteed that it will maintain the capital and surplus of its insurance affiliate and its trust affiliate above certain levels required by its respective regulatory authority.
Thrivent Financial has commitments to extend credit for mortgage loans and other lines of
credit of $290 million. Thrivent Financial has commitments to fund joint ventures, private placement bonds and
limited partnerships of $2.2 billion. (1) No liabilities have been recorded for any of these commitments.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.18
NOTES TO FINANCIAL STATEMENTS
(2) The following tables provide additional information concerning the type of guarantee
extended by Thrivent Financial as of December 31, 2016:
(3) The following table provides an aggregate compilation of guarantee obligations by Thrivent
Financial as of December 31, 2016:
a. Aggregate Maximum Potential of Future Payments of All Guarantees (undiscounted) the guarantor could be required to make under guarantees. (Should equal total of column 4 for (2) above)
$ 36,700,000 b. Current Liability Recognized in F/S 1. Noncontingent Liabilities $ - 2. Contingent Liabilities $ - c. Ultimate Financial Statement Impact if action under the guarantee is required 1. Investment in SCA $ - 2. Joint Venture $ - 3. Dividend to Stockholders (Capital Contribution) $ - 4. Expenses $ - 5. Other $ 36,700,000 6. Total (Should equal (3)a.) $ 36,700,000
B. Assessments
Thrivent Financial is not aware of any assessments that could have a material financial effect.
C. Gain Contingencies
Thrivent Financial is not aware of any gain contingencies that could have a material financial effect.
D. Claims Related Extra Contractual Obligation and Bad Faith Losses Stemming from Lawsuits Thrivent Financial had no significant claim activity related to extra contractual obligations or bad
faith losses from lawsuits during 2016.
E. Joint and Several Liabilities Thrivent Financial does not have any joint and several liability arrangements.
F. All Other Contingencies Thrivent Financial is involved in various lawsuits, contractual matters and other contingencies that have arisen from the normal course of business. Thrivent Financial assesses its exposure to these matters periodically and adjusts its provision accordingly. As of December 31, 2016, Thrivent Financial believes adequate provision has been made for any losses that may result from these matters.
15. Leases
A. Lessee Leasing Arrangements
(1) Thrivent Financial leases office equipment and real estate under various noncancelable operating lease agreements that expire at various dates through 2022. Rental expense for 2016 and 2015 was $14 million and $12 million, respectively.
1 2 3 4 5 Nature and circumstances of guarantee and key attributes
Liability recognition of
guarantee
Ultimate financial statement impact if action under the
guarantee is required
Maximum
potential of future
payments
Current status of payments or performance
risk of guarantee
Under the terms of a guarantee of a letter of credit issued by local banks, Thrivent Financial is obligated to make an advance if a local civic organization is unable to make timely payments on its debt secured by a letter of credit from the local banks. Thrivent Financial’s guarantee is secured by the civic organization’s assets, which include all funds held by the organization to support the debt and the organization’s building. Thrivent Financial would acquire these assets in the event of default.
No Liability Recognized
General Insurance Expenses
$36,700,000
Remote
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.19
NOTES TO FINANCIAL STATEMENTS
(2) At January 1, 2017, the minimum aggregate rental commitments for leases with initial or
remaining noncancelable lease terms in excess of one year are as follows:
Year Ending December 31
Operating Leases
1. 2017 3,300,000 2. 2018 2,300,000 3. 2019 1,000,000 4. 2020 600,000 Remaining 500,000
5. Total $ 7,700,000
Thrivent Financial has no noncancelable subleases as of December 31, 2016. (3) Thrivent Financial was not involved in any material sale-leaseback transactions.
B. Lessor Leasing Arrangements
Leasing is not a significant part of Thrivent Financial’s business activities as lessor.
16. Information about Financial Instruments with Off-Balance Sheet Risk and Financial
Instruments with Concentrations of Credit Risk
(1) The table below summarizes the notional amounts of Thrivent Financial’s financial instruments with off-balance-sheet risk.
See Schedule DB of Thrivent Financial’s annual statement for additional detail.
(2-4)Thrivent Financial utilizes financial instruments in the normal course of business to manage investment risks, reduce interest rate and duration imbalances. Thrivent Financial had open swap agreements with a statement value for the swaps are $19.5 million and $21.1 million as of December 31, 2016 and 2015, respectively. Thrivent Financial had options with an unrealized loss of $0.7 million and an unrealized gain of $0.2 million as of December 31, 2016 and 2015, respectively. The statement value of the options is $4.5 million and $2.1 million as of December 31, 2016 and 2015, respectively.
17. Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities
A. Thrivent Financial did not enter into any transfers of receivables reported as sales during the years ended December 31, 2016 and 2015.
B. Transfer and Servicing of Financial Assets
(1) Securities loaned under Thrivent Financial’s securities lending agreement are carried in the accompanying Assets page at amortized cost or fair value, depending on the nature of the security and as prescribed by NAIC guidelines. Thrivent Financial measures the fair value of securities loaned against collateral received on a daily basis. Additional collateral is obtained as necessary to ensure such transactions are adequately collateralized. The SAP fair value of loaned securities at December 31, 2016 is $512 million.
(2-7) None
C. Wash Sales
(1) In the normal course of Thrivent Financial's asset management activities, we periodically acquire securities that we had previously sold.
Assets Liabilities 2016 2015 2016 2015
a. Swaps $ 146,369,148 $ 153,248,737 $ 30,500,000 $ - b. Futures $ 327,650 $ 506,995 $ - $ - c. Options $ 170,740,118 $ 97,950,018 $ 327,538,667 $ 502,028,155 d. Total $ 317,436,916 $ 251,705,750 $ 358,038,667 $ 502,028,155
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.20
NOTES TO FINANCIAL STATEMENTS
(2) The table below lists those securities sold and reacquired within 30 days of the sale date to
enhance Thrivent Financial's total return on its investment portfolio. The details by NAIC designation 3 or below of securities sold during the year ended December 31, 2016 and acquired within 30 days of the sale date are:
Number of Transactions
Book Value of Securities
Sold
Cost of Securities
Repurchased
Gain (loss) Bonds: a. NAIC 3 19 $ 8,031,915 $ 7,823,661 $ (504,008) b. NAIC 4 20 $ 9,169,922 $ 10,286,122 $ 1,094,918 c. NAIC 5 - $ - $ - $ - d. NAIC 6 - $ - $ - $ - Preferred Stock e. NAIC P/RP3 1 $ 1,419,152 $ 1,476,559 $ 276,262 f. NAIC P/RP4 - $ - $ - $ - g. NAIC P/RP5 - $ - $ - $ - h. NAIC P/RP6 - $ - $ - $ -
18. Gain or Loss to the Reporting Entity from Uninsured Plans and the Uninsured Portion of Partially Insured Plans
A/B/C. Thrivent Financial has no uninsured accident and health plans, nor does it serve as an administrator for an uninsured portion of partially insured plans.
19. Direct Premium Written/Produced by Managing General Agents/Third Party Administrators
Thrivent Financial had no direct premium written/produced by managing general agents/TPAs that were in excess of 5% of surplus.
20. Fair Value Measurement A. (1) Fair Value at Reporting Date
Level 1: Fair value based on quoted prices for identical assets in active markets that are accessible.
Level 2: Fair value based on quoted prices for similar instruments in active markets that
are accessible; quoted prices for identical or similar instruments in markets that are not active; or model-derived valuations where the significant value driver inputs are observable.
Level 3: Fair value based on significant value driver inputs that are not observable.
The fair values of Thrivent Financial’s financial instruments measured and reported at fair value as of December 31, 2016 are presented below:
(Level 1) (Level 2) (Level 3) Total Financial assets: Unaffiliated Common stocks $ 1,133,891,258 $ 76,618,289 $ - $ 1,210,509,547 Cash, Cash Equivalents, and Short-term investments
285,144,016
-
-
285,144,016
Assets held in separate accounts - 26,717,705,243 - 26,717,705,243 Other invested assets - 21,768,639 4,451,707 26,220,346
Total $ 1,419,035,274 $ 26,816,092,171 $ 4,451,707 $ 28,239,579,152 Financial liabilities:
Other liabilities $ - $ 2,265,602 $ 9,812,729 $ 12,078,331
Thrivent Financial had no transfers into or out of Level 1 or 2 fair value measurements during 2016 or 2015.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.21
NOTES TO FINANCIAL STATEMENTS
(2) Fair Value Measurements in (Level 3) of the Fair Value Hierarchy
The following table shows the changes in fair values for the investments categorized as Level 3:
Beginning balance at 1/1/2016
Transfer
into Level 3
Transfers out of Level 3
Total Gains and (Losses) Included in Net Income
Total Gains and (Losses) Included in
Surplus Purchases Issuances Sales
Settlements
Ending Balance at 12/31/2016
Assets: Unaffiliated common stocks
$ 5,011
$ -
$ -
$ (761)
$ (4,250)
$ -
$ -
$ -
$ -
$ 0 Other invested assets
5,109,577
-
-
558,624
3,930,546
10,349,235
-
(5,683,547)
-
14,264,435 Total Assets $ 5,114,588 $ - $ - $ 557,863 $ 3,926,296 $ 10,349,235 $ - $ (5,683,547) $ - $ 14,264,435
Liabilities: Other liabilities
$ 3,042,332
$ -
$ -
$(1,296,217)
$ 4,199,216
$ 6,573,206
$ -
$ (2,705,807)
$ -
$ 9,812,730
Total Liabilities
$ 3,042,332
$ -
$ -
$(1,296,217)
$ 4,199,216
$ 6,573,206
$ -
( 2,705,807)
$ -
$ 9,812,730
(3) The fair values of significant transfers between Thrivent Financial’s Level 1, Level 2 and
Level 3 fair value measurements as of December 31 were as follows:
Transfers out of Level 1 into: Transfers out of Level 2 into: Transfers out of Level 3 into: Level 2 Level 3 Level 1 Level 3 Level 1 Level 2
2016 $ - $ - $ - $ 96,762,879 $ - $ 261,096,784 2015 $ - $ - $ - $ 2,667,462 $ - $ 51,178,953
Transfers between fair value hierarchy levels are recognized at the end of the reporting period.
(4) See Item C in this footnote for descriptions of valuation techniques and inputs.
(5) The fair value disclosures for derivative assets and liabilities on a gross basis are included
in paragraph 1 above. Certain derivative assets and liabilities have been classified as Level 3 and the disclosures required are incorporated into paragraphs 2-4 above
B. Thrivent Financial elects to disclose only fair value per SSAP No. 100, Fair Value.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.22
NOTES TO FINANCIAL STATEMENTS
C. The reported value and fair value of all financial instruments as of December 31, 2016 are
presented below:
Aggregate Fair Value
Admitted Assets
(Level 1) (Level 2) (Level 3)
Not Practicable (carrying
value)
Financial assets: Bonds $43,778,607,209 $41,908,313,000 $2,408,645,162 $33,951,515,770 $7,418,446,277 $ - Unaffiliated preferred
stocks 135,511,406
125,272,550 - 106,114,143 29,397,263 - Unaffiliated Common
stocks 1,210,509,547
1,210,509,547 1,133,891,258 76,618,289 - Mortgage loans 8,178,747,434 7,775,910,151 - - 8,178,747,434 - Contract loans 1,164,441,087 1,164,441,087 - - 1,164,441,087 - Cash, cash
equivalents and short-term investments 1,730,644,407
1,730,644,407 264,479,049 1,466,165,358 - - Limited Partnerships 2,932,303,073 2,920,128,174 - - 2,932,303,073 - Real estate–held-for-
sale 2,069,572
1,923,400 - - 2,069,572 - Assets held in
separate accounts 26,717,705,243
26,717,705,243 - 26,717,705,243 - - Other invested assets 210,984,434 178,144,794 - 24,460,441 186,523,993 -
Financial liabilities: Deferred annuities $12,957,511,158 $13,110,633,670 $ - $ - $12,957,511,158 $ - Other deposit
contracts 3,104,817,618
3,104,817,618 - - 3,104,817,618 - Other liabilities 12,640,772 12,758,019 - 2,265,602 10,375,170 - Liabilities related to
separate accounts 26,671,165,389
2,711,382,095 - 2,711,382,095 - -
The financial instruments of Thrivent Financial have been classified, for disclosure purposes, into one of three categories based on the evaluation of the amount of observable and unobservable inputs used to determine fair value.
Fair Value Descriptions Level 1 Financial Instruments Level 1 financial instruments reported at fair value include certain bonds, unaffiliated common stocks and short-term investments. Bonds and unaffiliated common stocks primarily are valued using quoted prices in active markets. Short-term investments consist of money market mutual funds whose fair value is based on the quoted daily net asset values of the invested funds.
Level 1 financial instruments not reported at fair value include bonds, which are priced based on quoted market prices, and primarily include U.S. Treasury bonds, cash and certain cash equivalents.
Level 2 Financial Instruments Level 2 financial instruments reported at fair value include, certain unaffiliated common stocks, short-term investments and assets held in separate accounts. Unaffiliated common stocks are valued based on market quotes where the stocks are not considered actively traded. Short-term investments are valued using significant observable inputs. The fair values for separate account assets are based on published daily net asset values of the funds in which the separate accounts are invested.
Level 2 financial instruments not reported at fair value include bonds, unaffiliated preferred stocks, cash equivalents and short-term investments, other invested assets and liabilities related to separate accounts.
Bonds that are priced using a third party pricing vendor primarily include certain corporate debt securities and asset-backed securities. Pricing from a third party pricing vendor varies by asset class but generally includes inputs such as estimated cash flows, benchmark yields, reported trades, issuer spreads, bids, offers, credit quality, industry events and economic events. If Thrivent Financial is unable to obtain a price from a third party pricing vendor, management may obtain broker quotes or utilize an internal pricing model specific to the asset. The internal pricing models apply practices that are standard among the industry and utilize observable market data. Fair values of unaffiliated preferred stocks are based on market quotes where these securities are not considered actively traded.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.23
NOTES TO FINANCIAL STATEMENTS
Cash equivalents and short-term investments includes investments in commercial paper and agency notes. The carrying amounts for these investments approximate their fair values. Other invested assets include investments in surplus notes in which the fair values are based on quoted market prices. The carrying amounts of liabilities related to separate accounts reflect the amounts in the separate account assets and approximate their fair values.
Level 3 Financial Instruments
Level 3 financial instruments reported at fair value include other invested assets, which consist of certain derivatives. The fair value is determined using independent broker quotes.
Level 3 financial instruments not reported at fair value include bonds, mortgage loans, contract loans, limited partnerships, real estate, other invested assets, deferred annuities, other deposit contracts and other liabilities.
Level 3 bonds primarily include private placement debt securities and convertible bonds. Private placement debt securities are valued using internal pricing models specific to the assets using unobservable inputs such as issuer spreads, estimated cash flows, internal credit ratings and volatility adjustments. Market comparable discount rates ranging from 0% to 12% are used as the base rate in the discounted cash flows used to determine the fair value of certain assets. Increases or decreases in the credit spreads on the comparable assets could cause the fair value of assets to significantly decrease or increase, respectively. Additionally, Thrivent Financial may adjust the base discount rate or the modeled price by applying an illiquidity premium of 25 basis points, given the highly structured nature of certain assets. Convertible bonds are valued using third party broker quotes to determine fair value.
Limited partnerships include private equity investments. The fair values of these investments are estimated based on assumptions in the absence of observable market data. In determining fair value the following valuation techniques are generally used: most recent capital balance adjusted for current cash flows; internal valuation methodologies designed for specific asset classes, primarily sponsor valuations or net asset value; discounted cash flow models; or applying current market multiples to earnings before interest, taxes, depreciation and amortization (EBITDA).
The fair values for mortgage loans are estimated using discounted cash flow analyses based on interest rates currently being offered for similar loans to borrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The carrying amounts for contract loans approximate their fair values. The fair value of real estate held-for-sale is based on current market price assessments on the properties. Other invested assets primarily include real estate joint ventures. The fair values of real estate joint venture investments are derived using GAAP audited financial statements.
The fair values for deferred annuities and other deposit contracts, which include supplementary contracts without life contingencies, deferred income settlement options and refunds on deposit, are estimated to be the cash surrender value payable upon immediate withdrawal. The fair values for other liabilities, which consist of certain derivatives, are derived from broker quotes.
D. Thrivent Financial has no financial instruments where it is not practicable to estimate the fair
value as of December 31, 2016. 21. Other Items
A. Thrivent Financial had no unusual or infrequent events or transaction. B. Thrivent Financial had no troubled debt restructuring. C. Thrivent Financial had no other items requiring disclosure. D. Thrivent Financial had no business interruption insurance recoveries that have occurred during
the years ended December 31, 2016 and 2015 that should be disclosed. E. Thrivent Financial had no state transferable and non-transferable tax credits.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.24
NOTES TO FINANCIAL STATEMENTS
F. Subprime Mortgage Related Risk Exposure.
(1) Thrivent Financial holds approximately $197 million of residential mortgage backed
securities that meet our definition of subprime mortgage exposure which is based on a FICO score of less than 650 or mortgages with less than conventional documentation. The majority of Thrivent Financial's exposure is fixed rate mortgage loans. Thrivent Financial values these securities according to our standard policies and procedures which include obtaining independent third-party quotes. Thrivent Financial monitors these securities for positive or negative indicators of changes in risk and manages the aggregate portfolio against a target total rate of return.
(2) As of December 31, 2016, Thrivent Financial has no direct exposure through investments in subprime mortgage loans.
(3) Direct exposure through other investments as of December 31, 2016:
Description
Actual Cost
Book/Adj Carrying Value
Fair Value
OTTI Recognized
a. Residential Mortgage Backed Securities $ 248,646,813 $ 196,612,573 $ 210,660,975 $ 821,611 b. Commercial Mortgage Backed Securities - - - - c. Collateralized Debt Obligations - - - - d. Structured Securities - - - - e. Equity Investment in SCAs - - - - f. Other Assets - - - - g. Total $ 248,646,813 $ 196,612,573 $ 210,660,975 $ 821,611
(4) As of December 31, 2016, Thrivent Financial has no underwriting exposure through
Mortgage Guaranty or Financial Guaranty insurance coverage. G. Thrivent Financial has no Retained Assets Accounts. H. Thrivent Financial does not participate in any insurance-linked security transactions.
22. Events Subsequent
No events have occurred subsequent to December 31, 2016 that requires disclosure in or adjustment to these financial statements.
23. Reinsurance
A. Ceded Reinsurance Report
Section 1 – General Interrogatories
(1) Are any of the reinsurers, listed in Schedule S as non-affiliated, owned in excess of 10% or controlled, either directly or indirectly, by Thrivent Financial or by any representative, officer, trustee, or director of Thrivent Financial? Yes () No (X)
(2) Have any policies issued by Thrivent Financial been reinsured with a company
chartered in a country other than the United States (excluding U.S. Branches of such companies) that is owned in excess of 10% or controlled directly or indirectly by an insured, a beneficiary, a creditor or an insured or any other person not primarily engaged in the insurance business? Yes () No (X)
Section 2 – Ceded Reinsurance Report – Part A
(1) Does Thrivent Financial have any reinsurance agreements in effect under which the reinsurer may unilaterally cancel any reinsurance for reasons other than for nonpayment of premium or other similar credits? Yes () No (X)
(2) Does Thrivent Financial have any reinsurance agreements in effect such that the
amount of losses paid or accrued through the statement date may result in a payment to the reinsurer of amounts that, in aggregate and allowing for offset of mutual credits from other reinsurance agreements with the same reinsurer, exceed the total direct premium collected under the reinsured policies? Yes () No (X)
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.25
NOTES TO FINANCIAL STATEMENTS
Section 3 – Ceded Reinsurance Report – Part B
(1) What is the estimated amount of the aggregate reduction in surplus, (for agreements other than those under which the reinsurer may unilaterally cancel for reasons other than for nonpayment of premium or other similar credits that are reflected in Section 2 above) of termination of ALL reinsurance agreements, by either party, as of the date of this statement? Where necessary, Thrivent Financial may consider the current or anticipated experience of the business reinsured in making this estimate. NONE
(2) Have any new agreements been executed or existing agreements amended, since January 1 of the year of this statement, to include policies or contracts that were in force or which had existing reserves established by Thrivent Financial as of the effective date of the agreement? Yes () No (X)
B. Uncollectible Reinsurance
Thrivent Financial has not written off any reinsurance balances due from other companies as uncollectible during the years ended December 31, 2016 and 2015.
C. Commutation of Ceded Reinsurance Thrivent Financial has not commuted any reinsurance with other companies.
D. Not Applicable E. Thrivent Financial has not entered into any reinsurance of variable annuity contracts
with an affiliated captive reinsurer.
F. Thrivent Financial has not entered into any reinsurance of variable annuity contracts with an affiliated captive reinsurer.
G. Thrivent Financial has no Risk-Based Capital short fall that exists per the Risk-Based Capital XXX/AXXX Captive Reinsurance Consolidated Exhibit.
24. Retrospectively Rated Contracts and Contracts Subject to Redetermination
Thrivent Financial does not sell any products that are retrospectively rated or subject to redetermination.
25. Change in Incurred Losses and Loss Adjustment Expenses
Thrivent Financial does not have a provision for incurred loss and loss adjustment expenses, attributable to insured events of prior years.
26. Intercompany Pooling Arrangements Thrivent Financial was not part of a group of affiliated insurers that utilizes a pooling arrangement
during the statement period. 27. Structured Settlements Thrivent Financial did not enter into any structured settlement agreements during the years ended
December 31, 2016 and 2015. 28. Health Care Receivables Thrivent Financial has no health care receivables as of December 31, 2016 and 2015. 29. Participating Policies
For the year ended December 31, 2016, all premiums received were issued under participating policies. Thrivent Financial accounts for its contractholder dividends based upon the accrual basis and paid dividends in the amount of $311 million to contract holders for the year ended December 31, 2016.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.26
NOTES TO FINANCIAL STATEMENTS
30. Premium Deficiency Reserves
Annually, gross premium valuations are performed for the Long Term Care and Disability Income lines of business to determine if premium deficiency reserves are required. A gross premium valuation is not performed for Medicare Supplement because premiums are revised annually and annual loss ratios for the line of business are managed below 100%.
At year-end 2016, no premium deficiency reserve is required for Disability Income. A premium deficiency reserve of $281 million will be held for Long Term Care Insurance.
1. Liability carried for premium deficiency reserves $ 281,000,000 2. Date of the most recent evaluation of this liability 12/31/2016 3. Was anticipated investment income utilized in the calculation? YES
31. Reserves for Life Contracts and Annuity Contracts
(1) Thrivent Financial waives deduction of deferred fractional premiums upon death of insured and returns any portion of the final premium beyond the date of death. Surrender values are not promised in excess of the legally computed reserves.
(2) Ordinary certificates issued on a substandard basis are valued in the same manner as
standard certificates, except that the valuation mortality rates are loaded to reflect the substandard rating.
(3) As of December 31, 2016 and 2015, Thrivent Financial had $14.0 billion and $12.4 billion,
respectively, of insurance in force for which the gross premiums are less than the net premiums according to the standard valuation set by the State of Wisconsin. Reserves to cover the above insurance totaled $63 million and $60 million as of December 31, 2016 and 2015, respectively, and are reported in Exhibit 5, Life Insurance.
(4) The Tabular interest (Page 7, Line 4), Tabular Less Actual Reserve Released (Page 7, Line 5),
and Tabular Cost (Page 7, Line 9) have all been determined by formula as described in the instructions for Page 7.
(5) The Tabular Interest for supplementary contracts not involving life contingencies (Page 14,
Exhibit 7, Line 3) has been determined by formula as described in the instructions for Page 7. (6) Thrivent Financial had no significant reserve changes in 2016.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.27
NOTES TO FINANCIAL STATEMENTS
32. Analysis of Annuity Actuarial Reserves and Deposit Type Liabilities by Withdrawal Characteristics
Withdrawal Characteristics of Annuity Actuarial Reserves and Deposit-Type Contract Funds and other Liabilities without Life or Disability Contingencies
General Account
Separate Account with Guarantees
Separate Account
Nonguaranteed
Total
% of Total
A. Subject to discretionary withdrawal (1) With market value adjustment $ - $ 361,033,872 $ - $ 361,033,872 0.8%
(2) At book value less current surrender charge of 5% or more
4,943,101,553
-
-
4,943,101,553
11.2%
(3) At fair value - - 24,815,363,096 24,815,363,096 56.4% (4) Total with market value adjustment or
at fair value total (1 through 3)
4,943,101,553
361,033,872
24,815,363,096
30,119,498,522
68.5% (5) At book value without adjustment
(minimal or no charge or adjustment)
12,517,966,140
-
-
12,517,966,140
28.5% B. Not subject to discretionary withdrawal 1,292,950,065 - 56,252,547 1,349,202,611 3.1% C. Total (gross: direct + assumed) 18,754,017,758 361,033,872 24,871,615,643 43,986,667,273 100.0% D. Reinsurance ceded - - - - E. Total (net)* (C)-(D) $ 18,754,017,758 $ 361,033,872 $24,871,615,643 $43,986,667,273 *Reconciliation of total annuity actuarial reserves and deposit fund liabilities.
F. Amount Life & Accident & Health Annual Statement: (1) Exhibit 5, Annuities, Total (net) $ 13,905,199,393 (2) Exhibit 5, Supplementary Contracts with Life Contingencies, Total (net) 1,576,791,092 (3) Exhibit 7, Deposit-Type contracts, Line 14, Column 1 3,272,027,273 (4) Subtotal 18,754,017,758 Separate Accounts Annual Statement (5) Exhibit 3, Line 0299999, Column 2 25,155,706,207 (6) Exhibit 3, Line 0399999, Column 2 47,486,675 (7) Policyholder dividend and coupon accumulations - (8) Policyholder premiums - (9) Guaranteed interest contracts - (10) Exhibit 4, Other contract deposit funds 29,456,633 (11) Subtotal 25,232,649,515 (12) Combined Total $ 43,986,667,273
33. Premium and Annuity Considerations Deferred and Uncollected A. Deferred and uncollected life insurance premiums and annuity considerations as of December
31, 2016 were as follows:
Type Gross Net of Loading (1) Industrial $ - $ - (2) Ordinary new business 5,074,235 2,436,530 (3) Ordinary renewal 61,506,105 121,007,901 (4) Credit Life - - (5) Group Life - - (6) Group Annuity - - (7) Totals $ 66,580,340 $ 123,444,431
34. Separate Accounts A. Separate Account Activity
(1) Thrivent Financial utilizes separate accounts to record and account for assets and liabilities for particular lines of business. For the current reporting year, Thrivent Financial reported assets and liabilities from the following product lines into separate account:
- Variable Universal Life - Variable Deferred Annuities - Variable Payout Annuities - Modified Guaranteed Annuities
In accordance with the domiciliary state procedures for approving items within the separate account, separate account classification of the following items are supported by specified state statue:
- All products - Wisconsin Statute 632
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.28
NOTES TO FINANCIAL STATEMENTS
(2) In accordance with the products recorded within the separate account, some assets are
considered legally insulated whereas others are not legally insulated from the general account. As of December 31, 2016 and 2015, the separate account statement included legally insulated assets of $26 billion and $24 billion, respectively. The assets legally insulated from the general account as of December 31, 2016 are attributed to the following products:
Product/Transaction
Legally Insulated
Assets
Separate Account Assets (Not
Legally Insulated) Thrivent Variable Annuity Account II $ 53,104,305 $ - Thrivent Variable Annuity Account A 1,346,012,015 - Thrivent Variable Annuity Account B 1,955,847,413 - Thrivent Variable Annuity Account I 22,043,451,817 - Thrivent Variable Life Account I 675,972,502 - Thrivent Variable Insurance Account A 237,337,061 - Market Value Adjustment - 405,980,132 Totals $ 26,311,725,113 $ 405,980,132
(3) In accordance with the products recorded within the separate account, some separate
account liabilities are guaranteed by the general account. As of December 31, 2016, the general account of Thrivent Financial has a maximum guarantee for separate account liabilities of $148 million. To compensate the general account for the risk taken, the separate account has paid the following risk charges for the years ended December 31,
2016 $99,202,380 2015 $98,650,623 2014 $86,181,346
2013 $58,488,861 2012 $42,074,044
For the years ended December 31, the general account of Thrivent Financial has paid the following towards separate account guarantees: 2016 $5,334,866 2015 $4,221,873 2014 $2,885,497
2013 $2,895,291 2012 $3,628,827
(4) Thrivent Financial does not engage in securities lending transactions within the separate account.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.29
NOTES TO FINANCIAL STATEMENTS
B. General Nature and Characteristics of Separate Accounts Business
Most separate and variable accounts held by Thrivent Financial relate to individual variable life and variable annuities of a non-guaranteed return nature. The net investment experience of the separate account is credited directly to the contract holder and can be positive or negative. Variable annuities generally provide an incidental death benefit. One block of variable annuities provides the greater of account value or premium paid during the first six years after issue. At the end of the sixth year and every six years thereafter, the minimum guaranteed death benefit is adjusted to the current account value. Another block of variable annuities provides the greater of the current account value, premium paid, and the highest past anniversary account value (maximum anniversary). In 2002, Thrivent Financial began offering a variable annuity with the following minimum guaranteed death benefits options: maximum anniversary, premium accumulation, and earnings addition, along with the basic death benefit which is the greater of the account value or premium paid. Variable life contracts generally provide an incidental death benefit as long as required premiums have been paid. The assets and liabilities of these accounts are carried at market value. The minimum guaranteed death benefit reserves for life insurance and annuities are held in Exhibit 5 of the General Account. This business has been included in the table below. In 2002, Thrivent Financial began offering a non-indexed separate account variable annuity with a guaranteed return of less than 4%. These accounts are subject to withdrawal with a market value adjustment. The assets and liabilities of these accounts are carried at market value. This business has been included in the table below.
In 2005, Thrivent Financial began offering a variable annuity with a minimum guaranteed account balance on money invested in specific allocation subaccounts. This block has been closed for new sales as of December 2013.
In 2007, Thrivent Financial began offering a variable annuity guaranteed living withdrawal benefit
rider. The money is invested in specific allocation subaccounts. As of December 31, 2016, Thrivent Financial has $47 million in seed money (M.V.) invested in
separate account business.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.30
NOTES TO FINANCIAL STATEMENTS
Information regarding the separate accounts of Thrivent Financial is as follows:
(1) (2) (3) (4) (5)
Index
Non-indexed Guarantee
Less than/equal to
4%
Non-Indexed
Guarantee More than
4%
Non-guaranteed Separate Accounts Total
(1) Premiums, considerations or deposits for year ended 12/31/16
$ -
$ 5,743,228
$ -
$ 1,925,557,759
$ 1,931,300,987
Reserves at 12/31/16 - 361,033,872 - 25,742,519,341 26,103,553,214 (2) For accounts with assets at: a. Fair value - 361,033,872 - 25,742,519,341 26,103,553,214 b. Amortized cost - - c. Total Reserves* - 361,033,872 - 25,742,519,341 26,103,553,214
(3) By withdrawal characteristics a. Subject to discretionary
withdrawal
i. With market value adjustment
- 361,033,872 - - 361,033,872
ii. At book value without market value adjustment and with current surrender charge of 5% or more
-
-
-
-
-
iii. At fair value - - - 25,686,266,795 25,686,266,795 iv. At book value without
market value adjustment and with current surrender charge less than 5%
-
-
-
-
-
v. Subtotal - 361,033,872 - 25,686,266,795 26,047,300,667 b. Not subject to discretionary
withdrawal - - - 56,252,547 56,252,547
c. Total $ - $361,033,872 $ - $25,742,519,341 $26,103,553,214 Line 2(c) should equal Line 3(h).
(4) Reserves for Asset Default Risk in Lieu of AVR
$ - $ - $ - $ - $ -
C. Reconciliation of Net Transfers To or (From) Separate Accounts
(1) Transfer as reported in the Summary of Operations of the Separate Accounts Statement: a. Transfers to Separate Accounts (Page 4, Line 1.4) $ 1,930,432,758 b. Transfers from Separate Accounts (Page 4,Line 10) $ 1,026,682,692 c. Net Transfers to or (from) Separate Accounts (a)(b) $ 903,750,066 (2) Reconciling Adjustments a. Transfers on account of deposit type contracts $ (4,455,538) b. Other $ 2,920,269 (3) Transfers as Reported in the Summary of Operations of the Life, Accident & Health Annual Statement (1c)+(2)=Page 4, Line 24 $ 902,214,797
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.31
NOTES TO FINANCIAL STATEMENTS
35. Loss/Claim Adjustment Expenses
The balance in the liability for unpaid accident and health claim adjustment expenses as of December 31, 2016 and 2015 was $0.5 million and $0.6 million, respectively. Thrivent Financial incurred $3.3 million and paid $3.3 million of claim adjustment expenses in 2016, of which $2.6 million of the paid amount was attributable to insured or covered events of prior years. Thrivent Financial did not increase or decrease the provision for insured events of prior years. Thrivent Financial did not adjust the liability for unpaid claims/losses for estimated anticipated salvage and subrogation.
36. Reserves for Accident and Health Contracts
Valuation standards used in calculating additional reserves for active life reserves for accident and health certificates (Exhibit 6, Active Life Reserve): - Valuation methods: one-year preliminary term, two-year preliminary term, and net level
- Valuation bases: modified pricing assumptions and requirements defined in Wisconsin Administrative Code Ins 3.17 and the Health Insurance Reserves Model Regulation, where applicable
- Valuation interest rates: Range from 2.5% to 5.5%, never greater than the valuation interest rate defined in the Standard Valuation Law
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
18.32
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
19
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
GENERAL1.1 Is the reporting entity a member of an Insurance Holding Company System consisting of two or more affiliated persons, one or more of which is an insurer? Yes [ X ] No [ ]
If yes, complete Schedule Y, Parts 1, 1A and 2.1.2 If yes, did the reporting entity register and file with its domiciliary State Insurance Commissioner, Director or Superintendent or with such regulatory
official of the state of domicile of the principal insurer in the Holding Company System, a registration statement providing disclosure substantiallysimilar to the standards adopted by the National Association of Insurance Commissioners (NAIC) in its Model Insurance Holding CompanySystem Regulatory Act and model regulations pertaining thereto, or is the reporting entity subject to standards and disclosure requirementssubstantially similar to those required by such Act and regulations? Yes [ X ] No [ ] N/A [ ]
1.3 State regulating? Wisconsin2.1 Has any change been made during the year of this statement in the charter, by-laws, articles of incorporation, or deed of settlement of the
reporting entity? Yes [ ] No [ X ]2.2 If yes, date of change:3.1 State as of what date the latest financial examination of the reporting entity was made or is being made. 12/31/20143.2 State the as of date that the latest financial examination report became available from either the state of domicile or the reporting entity.
This date should be the date of the examined balance sheet and not the date the report was completed or released. 12/31/20143.3 State as of what date the latest financial examination report became available to other states or the public from either the state of domicile or
the reporting entity. This is the release date or completion date of the examination report and not the date of the examination (balance sheet date). 03/31/20163.4 By what department or departments?
Wisconsin Office of the Commissioner of Insurance3.5 Have all financial statement adjustments within the latest financial examination report been accounted for in a subsequent financial
statement filed with departments? Yes [ ] No [ ] N/A [ X ]3.6 Have all of the recommendations within the latest financial examination report been complied with? Yes [ X ] No [ ] N/A [ ]4.1 During the period covered by this statement, did any agent, broker, sales representative, non-affiliated sales/service organization or any combination
thereof under common control (other than salaried employees of the reporting entity) receive credit or commissions for or control a substantial part(more than 20 percent of any major line of business measured on direct premiums) of:
4.11 sales of new business? Yes [ ] No [ X ]4.12 renewals? Yes [ ] No [ X ]
4.2 During the period covered by this statement, did any sales/service organization owned in whole or in part by the reporting entity or an affiliate,receive credit or commissions for or control a substantial part (more than 20 percent of any major line of business measured on direct premiums) of:
4.21 sales of new business? Yes [ ] No [ X ]4.22 renewals? Yes [ ] No [ X ]
5.1 Has the reporting entity been a party to a merger or consolidation during the period covered by this statement? Yes [ ] No [ X ]5.2 If yes, provide the name of entity, NAIC company code, and state of domicile (use two letter state abbreviation) for any entity that has ceased to exist as a
result of the merger or consolidation.1
Name of Entity
2NAIC
CompanyCode
3
State ofDomicile
6.1 Has the reporting entity had any Certificates of Authority, licenses or registrations (including corporate registration, if applicable) suspended or revokedby any governmental entity during the reporting period? Yes [ ] No [ X ]
6.2 If yes, give full information:
7.1 Does any foreign (non-United States) person or entity directly or indirectly control 10% or more of the reporting entity? Yes [ ] No [ X ]7.2 If yes,
7.21 State the percentage of foreign control %7.22 State the nationality(s) of the foreign person(s) or entity(s); or if the entity is a mutual or reciprocal, the nationality of its manager or
attorney-in-fact and identify the type of entity(s) (e.g., individual, corporation, government, manager or attorney-in-fact).1
Nationality2
Type of Entity
8.1 Is the company a subsidiary of a bank holding company regulated with the Federal Reserve Board? Yes [ ] No [ X ]8.2 If response to 8.1 is yes, please identify the name of the bank holding company.
8.3 Is the company affiliated with one or more banks, thrifts or securities firms? Yes [ X ] No [ ]8.4 If the response to 8.3 is yes, please provide below the names and locations (city and state of the main office) of any affiliates regulated by a federal financial
regulatory services agency [i.e. the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit InsuranceCorporation (FDIC) and the Securities Exchange Commission (SEC)] and identify the affiliate’s primary federal regulator.
1Affiliate Name
2Location (City, State)
3FRB
4OCC
5FDIC
6SEC
Thrivent Life Insurance Company Minneapolis, MN YESThrivent Trust Company Appleton, WI YES YESThrivent Investment Management Inc. Minneapolis, MN YESThrivent Financial Investor Services Inc. Minneapolis, MN YESThrivent Asset Management LLC Minneapolis, MN YESThrivent Distributors LLC Minneapolis, MN YES
9. What is the name and address of the independent certified public accountant or accounting firm retained to conduct the annual audit?PricewaterhouseCoopers, LLP, 45 South Seventh Street, Suite 3400, Minneapolis, MN 55402
10.1 Has the insurer been granted any exemptions to the prohibited non-audit services provided by the certified independent public accountant requirementsas allowed in Section 7H of the Annual Financial Reporting Model Regulation (Model Audit Rule), or substantially similar state law or regulation? Yes [ ] No [ X ]
10.2 If the response to 10.1 is yes, provide information related to this exemption:
10.3 Has the insurer been granted any exemptions related to other requirements of the Annual Financial Reporting Model Regulation as allowedfor in Section 18A of the Model Regulation, or substantially similar state law or regulation? Yes [ ] No [ X ]
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
19.1
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
10.4 If the response to 10.3 is yes, provide information related to this exemption:
10.5 Has the reporting entity established an Audit Committee in compliance with the domiciliary state insurance laws? Yes [ X ] No [ ] N/A [ ]10.6 If the response to 10.5 is no or n/a, please explain:
11. What is the name, address and affiliation (officer/employee of the reporting entity or actuary/consultant associated with an actuarial consulting firm)of the individual providing the statement of actuarial opinion/certification?Douglas Bearrood, Actuary for Thrivent Financial, 625 Fourth Avenue South, Minneapolis, MN 55415
12.1 Does the reporting entity own any securities of a real estate holding company or otherwise hold real estate indirectly? Yes [ X ] No [ ]12.11 Name of real estate holding company Gold Ring Holdings, LLC12.12 Number of parcels involved
112.13 Total book/adjusted carrying value $
5,790,68812.2 If yes, provide explanation
The Limited Liability Corporation (LLC) was created to hold title for foreclosed properties. Thrivent Financial for Lutherans is the sole member of the LLC.13. FOR UNITED STATES BRANCHES OF ALIEN REPORTING ENTITIES ONLY:13.1 What changes have been made during the year in the United States manager or the United States trustees of the reporting entity?
13.2 Does this statement contain all business transacted for the reporting entity through its United States Branch on risks wherever located? Yes [ ] No [ ]13.3 Have there been any changes made to any of the trust indentures during the year? Yes [ ] No [ ]13.4 If answer to (13.3) is yes, has the domiciliary or entry state approved the changes? Yes [ ] No [ ] N/A [ X ]14.1 Are the senior officers (principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar
functions) of the reporting entity subject to a code of ethics, which includes the following standards? Yes [ X ] No [ ](a) Honest and ethical conduct, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;(b) Full, fair, accurate, timely and understandable disclosure in the periodic reports required to be filed by the reporting entity;(c) Compliance with applicable governmental laws, rules and regulations;(d) The prompt internal reporting of violations to an appropriate person or persons identified in the code; and(e) Accountability for adherence to the code.
14.11 If the response to 14.1 is no, please explain:
14.2 Has the code of ethics for senior managers been amended? Yes [ X ] No [ ]14.21 If the response to 14.2 is yes, provide information related to amendment(s).
The Code of Ethics was amended to require Investment Personnel to report broker entertainment and outside business activities and to restrict their trading insmall cap and high yield securities for 7 days after client transactions. Procedures for approval to serve as an outside director of a public company weremodified.
14.3 Have any provisions of the code of ethics been waived for any of the specified officers? Yes [ ] No [ X ]14.31 If the response to 14.3 is yes, provide the nature of any waiver(s).
15.1 Is the reporting entity the beneficiary of a Letter of Credit that is unrelated to reinsurance where the issuing or confirming bank is not on the SVOBank List? Yes [ ] No [ X ]
15.2 If the response to 15.1 is yes, indicate the American Bankers Association (ABA) Routing Number and the name of the issuing or confirming bank ofthe Letter of Credit and describe the circumstances in which the Letter of Credit is triggered.
1American Bankers Association (ABA)
Routing Number
2
Issuing or Confirming Bank Name
3Circumstances That Can Trigger
the Letter of Credit
4
Amount
BOARD OF DIRECTORS16. Is the purchase or sale of all investments of the reporting entity passed upon either by the Board of Directors or a subordinator committee thereof? Yes [ X ] No [ ]17. Does the reporting entity keep a complete permanent record of the proceedings of its Board of Directors and all subordinate committees thereof? Yes [ X ] No [ ]18. Has the reporting entity an established procedure for disclosure to its Board of Directors or trustees of any material interest or affiliation on the part
of any of its officers, directors, trustees or responsible employees that is in conflict or is likely to conflict with the official duties of such person? Yes [ X ] No [ ]
FINANCIAL19. Has this statement been prepared using a basis of accounting other than Statutory Accounting Principles (e.g., Generally Accepted Accounting Principles)? Yes [ ] No [ X ]20.1 Total amount loaned during the year (inclusive of Separate Accounts, exclusive of policy loans):
20.11 To directors or other officers $ 020.12 To stockholders not officers $ 020.13 Trustees, supreme or grand (Fraternal only) $ 0
20.2 Total amount of loans outstanding at the end of year (inclusive of Separate Accounts, exclusive of policy loans):20.21 To directors or other officers $ 020.22 To stockholders not officers $ 020.23 Trustees, supreme or grand (Fraternal only) $ 0
21.1 Were any assets reported in this statement subject to a contractual obligation to transfer to another party without the liability for such obligationbeing reporting in the statement? Yes [ ] No [ X ]
21.2 If yes, state the amount thereof at December 31 of the current year:21.21 Rented from others $21.22 Borrowed from others $21.23 Leased from others $21.24 Other $
22.1 Does this statement include payments for assessments as described in the Annual Statement Instructions other than guaranty fund orguaranty association assessments? Yes [ X ] No [ ]
22.2 If answer is yes:
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
19.2
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
22.21 Amount paid as losses or risk adjustment $22.22 Amount paid as expenses $ 903,16522.23 Other amounts paid $
23.1 Does the reporting entity report any amounts due from parent, subsidiaries or affiliates on Page 2 of this statement? Yes [ X ] No [ ]23.2 If yes, indicate any amounts receivable from parent included in the Page 2 amount: $ 0
INVESTMENT24.01 Were all of stocks, bonds and other securities owned December 31 of current year, over which the reporting entity has exclusive control,
in the actual possession of the reporting entity on said date (other than securities lending programs addressed in 24.03)? Yes [ ] No [ X ]24.02 If no, give full and complete information, relating thereto:
Thrivent Financial engages in an on-going securities lending program per a tri-party agreement with the lending agent (Deutsche Bank) and the custodianbank (State Street Bank). Morgan Stanley holds the collateral pledged for trading futures contracts for the Company.
24.03 For security lending programs, provide a description of the program including value for collateral and amount of loaned securities, and whethercollateral is carried on or off-balance sheet (an alternative is to reference Note 17 where this information is also provided).See Item 17B in Notes to Financial Statements
24.04 Does the company’s security lending program meet the requirements for a conforming program as outlined in the Risk-Based Capital Instructions? Yes [ X ] No [ ] N/A [ ]24.05 If answer to 24.04 is yes, report amount of collateral for conforming programs. $ 513,022,83424.06 If answer to 24.04 is no, report amount of collateral for other programs $24.07 Does your securities lending program require 102% (domestic securities) and 105% (foreign securities) from the counterparty at the outset
of the contract? Yes [ X ] No [ ] N/A [ ]24.08 Does the reporting entity non-admit when the collateral received from the counterparty falls below 100%? Yes [ X ] No [ ] N/A [ ]24.09. Does the reporting entity or the reporting entity’s securities lending agent utilize the Master Securities Lending Agreement (MSLA) to
conduct securities lending? Yes [ X ] No [ ] N/A [ ]24.10 For the reporting entity's security lending program, state the amount of the following as of December 31 of the current year:
24.101 Total fair value of reinvested collateral assets reported on Schedule DL, Parts 1 and 2: $ 513,022,83424.102 Total book adjusted/carrying value of reinvested collateral assets reported on Schedule DL, Parts 1 and 2: $ 513,022,83424.103 Total payable for securities lending reported on the liability page: $ 523,112,437
25.1 Were any of the stocks, bonds or other assets of the reporting entity owned at December 31 of the current year not exclusively under the controlof the reporting entity or has the reporting entity sold or transferred any assets subject to a put option contract that is current in force? (Excludesecurities subject to Interrogatory 21.1 and 24.03.) Yes [ X ] No [ ]
25.2 If yes, state the amount thereof at December 31 of the current year:25.21 Subject to repurchase agreements $ 025.22 Subject to reverse repurchase agreements $ 025.23 Subject to dollar repurchase agreements $ 025.24 Subject to reverse dollar repurchase agreements $ 025.25 Placed under option agreements $ 025.26 Letter stock or securities restricted as sale – excluding FHLB Capital Stock $ 025.27 FHLB Capital Stock $ 025.28 On deposit with states $ 1,093,87425.29 On deposit with other regulatory bodies $ 025.30 Pledged as collateral – excluding collateral pledged to an FHLB $ 38,400,00025.31 Pledged as collateral to FHLB – including assets backing funding agreements $ 025.32 Other $ 0
25.3 For category (25.26) provide the following:1
Nature of Restriction2
Description3
Amount$
26.1 Does the reporting entity have any hedging transactions reported on Schedule DB? Yes [ X ] No [ ]26.2 If yes, has a comprehensive description of the hedging program been made available to the domiciliary state? Yes [ X ] No [ ] N/A [ ]
If no, attach a description with this statement.
27.1 Were any preferred stocks or bonds owned as of December 31 of the current year mandatorily convertible into equity, or, at the option of the issuer,convertible into equity? Yes [ X ] No [ ]
27.2 If yes, state the amount thereof at December 31 of the current year: $ 938,310,29728. Excluding items in Schedule E-Part 3-Special Deposits, real estate, mortgage loans and investments held physically in the reporting entity's
offices, vaults or safety deposit boxes, were all stocks, bonds and other securities, owned throughout the current year held pursuant to acustodial agreement with a qualified bank or trust company in accordance with Section 1, III - General Examination Considerations, F. Outsourcingof Critical Functions, Custodial or Safekeeping Agreements of the NAIC Financial Condition Examiners Handbook? Yes [ X ] No [ ]28.01 For all agreements that comply with the requirements of the NAIC Financial Condition Examiners Handbook, complete the following:
1Name of Custodian(s)
2Custodian's Address
State Street Bank North Quincy, MA28.02 For all agreements that do not comply with the requirements of the NAIC Financial Condition Examiners Handbook, provide the name,
location and a complete explanation1
Name(s)2
Location(s)3
Complete Explanation(s)
28.03 Have there been any changes, including name changes, in the custodian(s) identified in 28.01 during the current year? Yes [ ] No [ X ]28.04 If yes, give full and complete information relating thereto:
1Old Custodian
2New Custodian
3Date of Change
4Reason
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
19.3
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
28.05 Investment management – Identify all investment advisors, investment managers, broker/dealers, including individuals that have the authorityto make investment decisions on behalf of the reporting entity. For assets that are managed internally by employees of the reporting entity,note as such. ["…that have access to the investment accounts", "… handle securities"].
1Name of Firm or Individual
2Affiliation
Russell William Swansen I28.0597 For those firms/individuals listed in the table for Question 28.05, do any firms/individuals unaffiliated with the reporting entity
(i.e. designated with a "U") manage more than 10% of the reporting entity's assets? Yes [ ] No [ ]28.0598 For firms/individuals unaffiliated with the reporting entity (i.e. designated with a "U") listed in the table for Question 28.05, does
the total assets under management aggregate to more than 50% of the reporting entity's assets? Yes [ ] No [ ]28.06 For those firms or individuals listed in the table for 28.05 with an affiliation code of "A" (affiliated) or "U" (unaffiliated), provide the information
for the table below.1 2 3 4 5
Central Registration Depository Number Name of Firm or Individual Legal Entity Identifier (LEI)Registered
With
InvestmentManagementAgreement(IMA) Filed
29.1 Does the reporting entity have any diversified mutual funds reported in Schedule D-Part 2 (diversified according to the Securities andExchange Commission (SEC) in the Investment Company Act of 1940 [Section 5 (b) (1)])? Yes [ ] No [ X ]
29.2 If yes, complete the following schedule:1
CUSIP2
Name of Mutual Fund3
Book/Adjusted CarryingValue
29.2999 TOTAL29.3 For each mutual fund listed in the table above, complete the following schedule:
1
Name of Mutual Fund(from above table)
2
Name of Significant Holdingof the Mutual Fund
3Amount of Mutual Fund’sBook/Adjusted CarryingValue Attributable to the
Holding
4
Date of Valuation
30. Provide the following information for all short-term and long-term bonds and all preferred stocks. Do not substitute amortized value or statement value for fair value.1
Statement (Admitted) Value
2
Fair Value
3Excess of Statement over FairValue (-), or Fair Value over
Statement (+)30.1 Bonds 43,513,761,406 45,384,495,102 1,870,733,69630.2 Preferred Stocks 125,272,550 135,511,408 10,238,85830.3 Totals 43,639,033,956 45,520,006,510 1,880,972,554
30.4 Describe the sources or methods utilized in determining the fair values:Bonds estimated fair value are obtained from the NAIC SVO where available. Remaining bonds are valued using quoted market prices from independentpricing services. All bonds are individually priced based on year-end market conditions, credit quality of issuing company and maturity of the issue. Preferredstock estimated fair values are obtained from the NAIC SVO where available. Remaining preferred stocks are valued using quoted market prices fromindependent pricing services.
31.1 Was the rate used to calculate fair value determined by a broker or custodian for any of the securities in Schedule D? Yes [ X ] No [ ]31.2 If the answer to 31.1 is yes, does the reporting entity have a copy of the broker’s or custodian’s pricing policy (hard copy or electronic
copy) for all brokers or custodians used as a pricing source? Yes [ ] No [ X ]31.3 If the answer to 31.2 is no, describe the reporting entity’s process for determining a reliable pricing source for purposes of
disclosure of fair value for Schedule D:The general practice is to obtain two broker quotes and use the average for pricing. In cases where it is impossible to get more than one broker quote, thequote provided must be approved by management. All non-benchmark pricing is approved by management and reviewed by accounting.
32.1 Have all the filing requirements of the Purposes and Procedures Manual of the NAIC Investment Analysis Office been followed? Yes [ X ] No [ ]32.2 If no, list exceptions:
OTHER33.1 Amount of payments to trade associations, service organizations and statistical or rating bureaus, if any? $ 4,035,03433.2 List the name of the organization and the amount paid if any such payment represented 25% or more of the total payments to
trade associations, service organizations and statistical or rating bureaus during the period covered by this statement.1
Name2
Amount Paid$
34.1 Amount of payments for legal expenses, if any? $ 5,973,88034.2 List the name of the firm and the amount paid if any such payment represented 25% or more of the total payments for legal
expenses during the period covered by this statement.1
Name2
Amount Paid$
35.1 Amount of payments for expenditures in connection with matters before legislative bodies, officers or departments of government, if any? $ 513,27735.2 List the name of the firm and the amount paid if any such payment represented 25% or more of the total payment expenditures in
connection with matters before legislative bodies, officers or departments of government during the period covered by this statement.1 2
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
19.4
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
1
Name
2
Amount PaidVenn Strategies $ 447,277
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
1.1 Does the reporting entity have any direct Medicare Supplement Insurance in force? Yes [ X ] No [ ]
1.2 If yes, indicate premium earned on U.S. business only. $ 69,772,950
1.3 What portion of Item (1.2) is not reported on the Medicare Supplement Insurance Experience Exhibit? $
1.31 Reason for excluding:
1.4 Indicate amount of earned premium attributable to Canadian and/or Other Alien not included in Item (1.2) above. $
1.5 Indicate total incurred claims on all Medicare Supplement insurance. $ 52,316,046
1.6 Individual policies:
Most current three years:
1.61 Total premium earned $ 12,249,301
1.62 Total incurred claims $ 12,396,223
1.63 Number of covered lives $ 11,863
All years prior to most current three years:
1.64 Total premium earned $ 57,523,649
1.65 Total incurred claims $ 39,919,823
1.66 Number of covered lives $ 20,999
1.7 Group policies:
Most current three years:
1.71 Total premium earned $
1.72 Total incurred claims $
1.73 Number of covered lives $
All years prior to most current three years:
1.74 Total premium earned $
1.75 Total incurred claims $
1.76 Number of covered lives $
2.1 Does the reporting entity have Separate Accounts? Yes [ X ] No [ ]
2.2 If yes, has a Separate Accounts statement been filed with this Department Yes [X ] No [ ] N/A[ ]
2.3 What portion of capital and surplus funds of the reporting entity covered by assets in the Separate Accounts statement, is not currently distributablefrom the Separate Accounts to the general account for use by the general account? $ 536,202,049
2.4 State the authority under which Separate Accounts are maintained:Wisconsin Statute 614.24
2.5 Was any of the reporting entity’s Separate Accounts business reinsured as of December 31? Yes [ X ] No [ ]
2.6 Has the reporting entity assumed by reinsurance any Separate Accounts business as of December 31? Yes [ ] No [ X ]
2.7 If the reporting entity has assumed Separate Accounts business, how much, if any, reinsurance assumed receivable for reinsurance ofSeparate Accounts reserve expense allowances is included as a negative amount in the liability for “Transfers to Separate Accountsdue or accrued (net)?” $
3. Is the reporting entity organized and conducted on the lodge system, with ritualistic form of work and representative form of government? Yes [ X ] No [ ]
4. How often are meetings of the subordinate branches required to be held?Quarterly as required by Wisconsin Statutes
5. How are the subordinate branches represented in the supreme or governing body?The subordinate branches have the opportunity to nominate candidates for election to the supreme governing body, and are active in doing so. Thebenefit members of the society directly elect 12 at-large members of the board. Three members are elected each year to serve four-year terms.
6. What is the basis of representation in the governing body?The Board of Directors is the supreme governing body of the society. See #5 above. Additionally, the board can appoint up to four additionalmembers to serve one-year terms.
7.1 How often are regular meetings of the governing body held?The Board of Directors meets at least quarterly.
7.2 When was the last regular meeting of the governing body held? Nov. 9-10, 2016
7.3 When and where will the next regular or special meeting of the governing body be held?Feb. 8-9, 2017 Philadelphia, PA
7.4 How many members of the governing body attended the last regular meeting? 15
7.5 How many of the same were delegates of the subordinate branches? 11
8. How are the expenses of the governing body defrayed?Expenses of the Board of Directors are paid by Thrivent Financial for Lutherans.
9. When and by whom are the officers and directors elected?See note #5 above regarding the election of directors. Principal officers of the Society are elected annually by the Board of Directors.
10. What are the qualifications for membership?Each individual applying for membership must be a Christian, a spouse of a Christian or a youth of a Christian as definded in the membershipapplication.
11. What are the limiting ages for admission?Minimum age for benefit and associate membership is 16. No Maximum. No minimum age for youth membership, maximum is 15.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20.1
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
12. What is the minimum and maximum insurance that may be issued on any one life?Life insurance minimums vary depending on product and age of insured. Life insurance maximums vary based on demonstrated insurance needsand other underwriting
13. Is a medical examination required before issuing a benefit certificate to applicants? Yes [ X ] No [ ]
14. Are applicants admitted to membership without filing an application with and becoming a member of a local branch by ballot and initiation? Yes [ ] No [ X ]
15.1 Are notices of the payments required sent to the members? Yes [ X ] No [ ] N/A [ ]
15.2 If yes, do the notices state the purpose for which the money is to be used? Yes [ X ] No [ ]
16. What proportion of first and subsequent year’s payments may be used for management expenses?
16.11 First Year %
16.12 Subsequent Years %
17.1 Is any part of the mortuary, disability, emergency or reserve fund, or the accretions from or payments for the same, used for expenses? Yes [ ] No [ X ]
17.2 If so, what amount and for what purpose? $
18.1 Does the reporting entity pay an old age disability benefit? Yes [ ] No [ X ]
18.2 If yes, at what age does the benefit commence?
19.1 Has the constitution or have the laws of the reporting entity been amended during the year? Yes [ ] No [ X ]
19.2 If yes, when?
20. Have you filed with this Department all forms of benefit certificates issued, a copy of the constitution and all of the laws, rules andregulations in force at the present time? Yes [ X ] No [ ]
21.1 State whether all or a portion of the regular insurance contributions were waived during the current year under premium-payingcertificates on account of meeting attained age or membership requirements? Yes [ ] No [ X ]
21.2 If so, was an additional reserve included in Exhibit 5? Yes [ ] No [ ] N/A [ X ]
21.3 If yes, explain
22.1 Has the reporting entity reinsured, amalgamated with, or absorbed any company, order, society, or association during the year? Yes [ ] No [ X ]
22.2 If yes, was there any contract agreement, or understanding, written or oral, expressed or implied, by means of which any officer, director,trustee, or any other person, or firm, corporation, society or association, received or is to receive any fee, commission, emolument, orcompensation of any nature whatsoever in connection with, on an account of such reinsurance, amalgamation, absorption, or transfer ofmembership or funds? Yes [ ] No [ ] N/A [ X ]
23. Has any present or former officer, director, trustee, incorporator, or any other persons, or any firm, corporation, society or association, any claimsof any nature whatsoever against this reporting entity, which is not included in the liabilities on Page 3 of this statement? Yes [ ] No [ X ]
24.1 Does the reporting entity have variable annuities with guaranteed benefits? Yes [ X ] No [ ]
24.2 If 24.1 is yes, complete the following table for each type of guaranteed benefit.Type 3 4 5 6 7 8 9
1Guaranteed
Death Benefit
2Guaranteed
Living BenefitWaiting Period
RemainingAccount Value
Related to Col. 3Total Related
Account ValuesGross Amount of
ReserveLocation of
ReservePortion
ReinsuredReinsurance
Reserve CreditGreater ofAccount Value,Sum ofPremiums Paid,and 6-year Reset
None N/A N/A
2,840,971,244 1,282,827
Exhibit 5 None
Greater ofAccount Value,Sum ofPremiums Paid,and MaxAnniversaryValue (MAV)
None N/A N/A
2,275,893,694 1,306,196
Exhibit 5 None
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 7 yr.waiting period
3 years 145,679,572
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 7 yr.waiting period
2 years 136,978,830
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 7 yr.waiting period
1 year 91,161,481
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 7 yr.waiting period
< 1 year 26,787,726
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 7 yr.waiting period
Total 400,607,609
Greater ofAccount Value
GMAB -accumulate at
2 years 74,061,156
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20.2
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
and Sum ofPremiums Paid
accumulate at
1.50%. 7 yr.waiting period
2 years 74,061,156
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.50%. 7 yr.waiting period
1 year 65,562,523
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.50%. 7 yr.waiting period
< 1 year 21,944,270
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.50%. 7 yr.waiting period
Total 161,567,950
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
6 years 200,547,469
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
5 years 155,567,348
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
4 years 84,088,645
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
3 years 44,050,756
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
2 years 11,472,254
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
1 year 8,583,233
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
< 1 year 2,974,680
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at0.00%. 10 yr.waiting period
Total 507,284,385
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
6 years 261,667
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
5 years 65,024,011
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
4 years 68,822,013
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
3 years 37,727,230
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
2 years 6,207,817
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
1 year 5,571,344
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
< 1 year 996,969
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at1.00%. 10 yr.waiting period
Total 184,611,049
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
6 years 396,318
Greater ofAccount Valueand Sum of
GMAB -accumulate at2.00%. 10 yr.
5 years 110,267,399
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20.3
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
Premiums Paid
2.00%. 10 yr.
waiting period
5 years 110,267,399
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
4 years 92,544,827
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
3 years 43,090,066
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
2 years 4,466,941
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
1 year 3,041,810
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
< 1 year 1,752,166
Greater ofAccount Valueand Sum ofPremiums Paid
GMAB -accumulate at2.00%. 10 yr.waiting period
Total 255,559,527
Greater ofAccount Valueand Sum ofPremiums Paid
GMWB N/A 6,067,959,242
Greater ofAccount Valueand Sum ofPremiums Paid
None N/A 7,390,753,914
Total 14,968,343,676 14,968,343,676 97,518 Exhibit 5 NoneGreater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 7 yr.waiting period
3 years 68,646,516
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 7 yr.waiting period
2 years 63,637,523
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 7 yr.waiting period
1 year 40,526,027
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 7 yr.waiting period
< 1 year 17,887,241
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 7 yr.waiting period
Total 190,697,307
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.50%. 7 yr.waiting period
2 years 37,876,865
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.50%. 7 yr.waiting period
1 year 33,021,073
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.50%. 7 yr.waiting period
< 1 year 11,182,662
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.50%. 7 yr.waiting period
Total 82,080,600
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
6 years 103,858,595
Greater of GMAB - 5 years 73,115,470
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20.4
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
Account Value,Sum ofPremiums Paid,and MAV
GMAB -
accumulate at0.00%. 10 yr.waiting period
5 years 73,115,470
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
4 years 37,989,823
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
3 years 27,422,003
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
2 years 7,435,287
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
1 year 5,524,617
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
< 1 year 4,823,609
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at0.00%. 10 yr.waiting period
Total 260,169,404
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
5 years 32,223,889
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
4 years 42,537,422
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
3 years 23,882,120
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
2 years 4,233,587
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
1 year 3,621,014
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
< 1 year 3,187,318
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at1.00%. 10 yr.waiting period
Total 109,685,350
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
6 years 329,909
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
5 years 49,338,083
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
4 years 44,530,159
Greater ofAccount Value,
GMAB -accumulate at
3 years 24,410,351
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20.5
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
Sum ofPremiums Paid,and MAV
accumulate at
2.00%. 10 yr.waiting period
3 years 24,410,351
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
2 years 5,563,316
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
1 year 1,889,698
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
< 1 year 905,858
Greater ofAccount Value,Sum ofPremiums Paid,and MAV
GMAB -accumulate at2.00%. 10 yr.waiting period
Total 126,967,373
None Total 6,411,320,760TOTAL 7,180,920,794 7,180,920,794 219,671 Exhibit 5 None
Greater ofAccount Value,Sum ofPremiums Paid,and 5% Roll-up
None N/A N/A
226,922,435 4,796
Exhibit 5 None
Greater ofAccount Value,Sum ofPremiums Paid,MAV, and 5%Roll-up
None N/A N/A
441,496,205 18,244
Exhibit 5 None
Greater ofAccount Valueand Sum ofPremiums Paid,plus 40%EarningsAdditional Benefit
None N/A N/A
66,895,156 2,122
Exhibit 5 None
Greater ofAccount Value,Sum ofPremiums Paid,and MAV plus,40% EarningsAdditional Benefit
None N/A N/A
148,275,365 7,501
Exhibit 5 None
Greater ofAccount Value,Sum ofPremiums Paid,and 5% Roll-up,plus 40%EarningsAdditional Benefit
None N/A N/A
18,927,546 844
Exhibit 5 None
Greater ofAccount Value,Sum ofPremiums Paid,MAV and 5%Roll-up, plus 40%EarningsAdditional Benefit
None N/A N/A
968,026,879 30,202
Exhibit 5 None
25. For reporting entities having sold annuities to another insurer where the insurer purchasing the annuities has obtained a release of liability from theclaimant (payee) as the result of the purchase of an annuity from the reporting entity only:
25.1 Amount of loss reserves established by these annuities during the current year: $
25.2 List the name and location of the insurance company purchasing the annuities and the statement value on the purchase date of the annuities.1
P&C Insurance Companyand
Location
2Statement Value
on Purchase Dateof Annuities
(i.e., Present Value)$
26.1 Do you act as a custodian for health savings accounts? Yes [ ] No [ X ]
26.2 If yes, please provide the amount of custodial funds held as of the reporting date. $
26.3 Do you act as an administrator for health savings accounts? Yes [ ] No [ X ]
26.4 If yes, please provide the balance of the funds administered as of the reporting date. $
27.1 Does the reporting entity have outstanding assessments in the form of liens against policy benefits that have increased surplus? Yes [ ] No [ X ]
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
20.6
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
27.2 If yes, what is the date(s) of the original lien and the total outstanding balance of liens that remain in surplus?Date Outstanding Lien Amount
$
28.1 Are any of the captive affiliates reported on Schedule S, Part 3, authorized reinsurers? Yes [ ] No [ X ] N/A [ ]
28.2 If the answer to 28.1 is yes, please provide the following:1
CompanyName
2NAIC
CompanyCode
3
DomiciliaryJurisdiction
4
ReserveCredit
Assets Supporting Reserve Credit5
Letters ofCredit
6Trust
Agreements
7
Other
29. Provide the following for individual ordinary life insurance* policies (U.S. business only) for the current year (prior to reinsurance assumed or ceded).
29.1 Direct Premiums Written $ 1,678,414,399
29.2 Total Incurred Claims $ 1,084,757,519
29.3 Number of Covered Lives 2,057,983
*Ordinary Life Insurance IncludesTerm (whether full underwriting, limited underwriting, jet issue, "short form app")Whole Life (whether full underwriting, limited underwriting, jet issue, "short form app")Variable Life (with or without secondary guarantee)Universal Life (with or without secondary guarantee)Variable Universal Life (with or without secondary guarantee)
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
21
FIVE-YEAR HISTORICAL DATAShow amounts in whole dollars only, no cents; show percentages to one decimal place, i.e. 17.6.
Amounts of life insurance in this exhibit should be shown in thousands (OMIT 000).1 2 3 4 5
2016 2015 2014 2013 2012
Life Insurance in Force (Exhibit of Life Insurance)
1. Total (Line 21, Column 2)......................................................................................................... ........193,018,864 ........187,363,199 ........182,526,799 ........178,305,675 ........174,441,520
New Business Issued (Exhibit of Life Insurance)
2. Total (Line 2, Column 2)........................................................................................................... ..........11,929,096 ..........11,020,193 ............9,881,237 ............9,548,756 ............9,566,289
Premium Income (Exhibit 1, Part 1)
3. Life insurance - first year (Line 9.4, Column 2)........................................................................ ..........85,742,441 ..........84,502,513 ..........73,937,359 ..........67,386,223 ..........74,360,485
4. Life insurance - single and renewal (Lines 10.4 and 19.4, Column 2)..................................... .....1,473,622,457 .....1,335,686,908 .....1,321,342,292 .....1,415,594,504 .....1,517,284,165
5. Annuity (Line 20.4, Column 3).................................................................................................. .....3,571,694,227 .....3,763,186,296 .....3,716,132,860 .....3,398,055,570 .....3,046,796,139
6. Accident and health (Line 20.4, Column 4).............................................................................. ........319,546,803 ........316,300,722 ........314,219,275 ........311,321,574 ........312,214,756
7. Aggregate of all other lines of business (Line 20.4, Column 5)................................................ ............................. ............................. ............................. ............................. .............................
8. Total (Line 20.4, Column 1)...................................................................................................... .....5,450,605,928 .....5,499,676,439 .....5,425,631,787 .....5,192,357,871 .....4,950,655,545
Balance Sheet Items (Pages 2 and 3)
9. Total admitted assets excluding Separate Accounts business (Page 2, Line 26, Col. 3)........ ...58,115,831,025 ...56,050,965,218 ...53,915,291,535 ...51,747,288,231 ...52,263,847,583
10. Total liabilities excluding Separate Accounts business (Page 3, Line 23)............................... ...50,436,756,955 ...48,976,766,947 ...47,495,903,995 ...46,028,230,306 ...47,992,140,001
11. Aggregate reserve for life certificates and contracts (Page 3, Line 1)...................................... ...38,371,564,928 ...37,009,706,363 ...35,986,329,508 ...35,197,041,571 ...34,357,778,461
12. Aggregate reserve for accident and health certificates (Page 3, Line 2).................................. .....5,654,855,652 .....5,304,728,083 .....5,073,113,337 .....4,697,071,536 .....4,415,966,094
13. Deposit-type contract funds (Page 3, Line 3)........................................................................... .....3,272,027,273 .....3,104,279,865 .....2,930,598,097 .....2,887,300,080 .....2,888,139,412
14. Asset valuation reserve (Page 3, Line 21.1)............................................................................ .....1,099,299,998 ........999,557,755 ........972,241,995 ........940,399,143 .....1,571,201,896
15. Surplus (Page 3, Line 30)......................................................................................................... .....7,725,613,924 .....7,126,496,319 .....6,492,586,166 .....5,797,909,666 .....4,385,929,095
Cash Flow (Page 5)
16. Net cash from operations (Line 11).......................................................................................... .....1,923,672,544 .....1,702,699,234 .....1,538,598,021 .....1,228,926,584 .....1,689,538,068
Risk-Based Capital Analysis
17. Total adjusted capital............................................................................................................... .....9,002,480,641 .....8,299,785,097 .....7,598,831,710 .....6,870,689,901 .....6,096,379,703
18. 50% of the calculated RBC amount......................................................................................... ........603,771,082 ........549,221,464 ........531,125,878 ........504,971,691 ........578,284,540
Percentage Distribution of Cash, Cash Equivalent and Invested Assets(Page 2, Col. 3) (Line No. ÷ Page 2, Line 12, Col. 3) x 100.0
19. Bonds (Line 1).......................................................................................................................... .....................72.9 .....................73.1 .....................73.2 .....................73.2 .....................69.6
20. Stocks (Lines 2.1 and 2.2)........................................................................................................ .......................3.0 .......................2.6 .......................2.5 .......................2.3 .......................2.3
21. Mortgage loans on real estate (Lines 3.1 and 3.2)................................................................... .....................13.5 .....................13.6 .....................13.8 .....................14.3 .....................14.2
22. Real estate (Lines 4.1, 4.2 and 4.3)......................................................................................... .......................0.1 .......................0.1 .......................0.1 .......................0.1 .......................0.2
23. Cash, cash equivalents and short-term investments (Line 5).................................................. .......................3.0 .......................3.3 .......................2.8 .......................2.8 .......................6.5
24. Contract loans (Line 6)............................................................................................................. .......................2.0 .......................2.1 .......................2.2 .......................2.4 .......................2.4
25. Derivatives (Line 7).................................................................................................................. .......................0.1 .......................0.0 .......................0.0 ......................(0.0) .............................
26. Other invested assets (Line 8)................................................................................................. .......................5.3 .......................5.1 .......................5.2 .......................5.0 .......................4.8
27. Receivable for securities (Line 9)............................................................................................. .......................0.1 .......................0.1 .......................0.0 .......................0.0 .......................0.0
28. Securities lending reinvested collateral assets (Line 10)......................................................... ............................. ............................. ............................. ............................. .............................
29. Aggregate write-ins for invested assets (Line 11).................................................................... ............................. ............................. ............................. ............................. .............................
30. Cash, cash equivalents and invested assets (Line 12)............................................................ ...................100.0 ...................100.0 ...................100.0 ...................100.0 ...................100.0
Investments in Subsidiaries and Affiliates
31. Affiliated bonds (Schedule D Summary, Line 12, Col. 1)......................................................... ............................. ............................. ............................. ............................. .............................
32. Affiliated preferred stock (Schedule D Summary, Line 18, Col. 1)........................................... ............................. ............................. ............................. ............................. .............................
33. Affiliated common stock (Schedule D Summary, Line 24, Col. 1)............................................ ........261,141,670 ........349,500,233 ........347,104,961 ........366,408,290 ........408,446,148
34. Affiliated short-term investments (subtotals included in Sch. DA, Verif., Col. 5, Line 10)........ ............................. ............................. ............................. ............................. .............................
35. Affiliated mortgage loans on real estate................................................................................... ............................. ............................. ............................. ............................. .............................
36. All other affiliated...................................................................................................................... .....2,585,976,066 .....2,336,795,066 .....2,286,582,914 .....2,029,644,270 .....1,941,715,662
37. Total of above Lines 31 to 36................................................................................................... .....2,847,117,736 .....2,686,295,299 .....2,633,687,875 .....2,396,052,560 .....2,350,161,810
38. Total investment in parent included in Lines 31 to 36 above................................................... ............................. ............................. ............................. ............................. .............................
Total Nonadmitted Assets and Admitted Assets
39. Total nonadmitted assets (Page 2, Line 28, Col. 2)................................................................. ........104,261,438 ..........98,158,335 ..........98,256,833 ..........92,914,627 ........221,520,615
40. Total admitted assets (Page 2, Line 28, Col. 3)....................................................................... ...84,833,536,268 ...80,112,484,699 ...76,994,356,207 ...72,161,546,776 ...68,424,647,258
Investment Data
41. Net investment income (Exhibit of Net Investment Income, Line 17)....................................... .....2,768,468,228 .....2,805,287,480 .....2,685,829,823 .....2,575,223,054 .....2,565,699,303
42. Realized capital gains (losses) (Page 4, Line 30, Column 1)................................................... .......(115,438,953) .........(42,291,791) .........(48,994,291) .........(78,538,093) .........(92,706,541)
43. Unrealized capital gains (losses) (Page 4, Line 34, Column 1)................................................ ..........75,613,231 .......(161,918,683) ........115,156,794 ..........76,324,941 ..........11,597,344
44. Total of above Lines 41, 42 and 43.......................................................................................... .....2,728,642,507 .....2,601,077,006 .....2,751,992,326 .....2,573,009,902 .....2,484,590,106
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
22
FIVE-YEAR HISTORICAL DATA(Continued)
1 2 3 4 52016 2015 2014 2013 2012
Benefits and Reserve Increases (Page 6)
45. Total certificate benefits - life (Lines 10, 11, 12, 13 and 14,Column 7 less Line 13, Column 5)........................................................................................... .....3,681,269,219 .....3,459,137,600 .....3,304,601,103 .....3,084,301,460 .....3,204,813,279
46. Total certificate benefits - accident and health (Line 13, Column 5)........................................ ........328,199,317 ........325,701,265 ........304,402,564 ........281,960,369 ........273,587,664
47. Increase in life reserves (Line 17, Column 2)........................................................................... ........571,206,445 ........499,462,097 ........456,458,843 ........621,631,527 ........803,696,453
48. Increase in accident and health reserves (Line 17, Column 5)................................................ ........350,127,570 ........231,614,746 ........376,041,800 ........281,105,442 ........279,911,250
49. Refunds to members (Line 28, Column 1)............................................................................... ........315,385,410 ........315,956,279 ........238,811,328 ........232,209,636 ........252,977,604
Operating Percentages
50. Insurance expense percent (Page 6, Column 1,Lines 19, 20 and 21 less Line 6, Column 1)÷ (Page 6 Column 1, Line 1) x 100.0....................................................................................... .....................18.4 .....................17.8 .....................17.0 .....................17.1 .....................16.8
51. Lapse percent [(Exhibit of Life Insurance, Column 2, Lines 14 and 15)÷ 1/2 (Exhibit of Life Insurance, Column 2, Lines 1 and 21)] x 100.0...................................... .......................3.0 .......................3.0 .......................3.5 .......................3.6 .......................3.6
52. Accident and health loss percent(Schedule H, Part 1, Lines 5 and 6, Column 2)........................................................................ ...................213.9 ...................177.3 ...................216.8 ...................181.3 ...................177.7
53. A&H cost containment percent (Schedule H, Part 1, Line 4, Column 2).................................. .......................1.0 .......................0.9 .......................0.8 .......................0.7 .......................0.9
54. Accident and health expense percent excluding cost containment expenses(Schedule H, Part 1, Line 10, Column 2).................................................................................. .....................18.4 .....................16.3 .....................12.7 .....................13.9 .....................11.6
Accident and Health Reserve Adequacy
55. Incurred losses on prior years' claims(Schedule H, Part 3, Line 3.1, Column 1)................................................................................. ........953,809,734 ........922,917,804 ........881,480,509 ........772,198,815 ........714,465,948
56. Prior years' liability and reserve(Schedule H, Part 3, Line 3.2, Column 1)................................................................................. .....1,006,609,552 ........935,430,121 ........820,815,280 ........759,109,806 ........697,894,260
Net Gains from Operations After Refunds to Members by Lines of Business(Page 6, Line 29)
57. Life Insurance (Column 2)........................................................................................................ ........110,977,506 ........112,987,770 ........212,789,005 ........191,175,671 ........169,495,959
58. Annuity (Column 3)................................................................................................................... ........262,313,461 ........243,558,329 ........297,696,909 ........253,724,628 ........225,799,719
59. Supplementary contracts (Column 4)....................................................................................... ..........15,467,447 ...........(5,142,635) .........(13,921,281) ............3,246,005 ..........46,403,032
60. Accident and health (Column 5)............................................................................................... .........(79,743,682) ...........(5,910,490) .........(86,515,842) .........(23,089,468) .........(13,449,347)
61. Aggregate of all other lines of business (Column 6)................................................................. ........535,391,943 ........467,099,272 ........404,137,027 ........353,161,891 ........169,188,661
62. Fraternal (Column 8)................................................................................................................ .......(173,159,910) ............................. ............................. ............................. .........................(0)
63. Expense (Column 9)................................................................................................................. ............................. ............................. ............................. ............................. .............................
64. Total (Column 1)....................................................................................................................... ........671,246,766 ........812,592,246 ........814,185,818 ........778,218,727 ........597,438,023NOTE: If a party to a merger, have the two most recent years of this exhibit been restated due to a merger in compliance with the disclosure
requirements of SSAP No. 3, Accounting Changes and Correction of Errors? Yes [ ] No [ ]If no, please explain:
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
23.GT
*56014201643059100*LIFE INSURANCE
DIRECT BUSINESS IN THE STATE OF GRAND TOTAL DURING THE YEARNAIC Group Code.....2938 NAIC Society Code.....56014
1DIRECT PREMIUMS AND ANNUITY CONSIDERATIONS Life and Annuities
1. Life insurance............................................................................................................................................................................................... .................................................................1,403,976,4122. Annuity considerations................................................................................................................................................................................. .................................................................3,571,651,4923. Deposit-type contract funds......................................................................................................................................................................... ......................................................................16,034,6734. Other considerations.................................................................................................................................................................................... .........................................................................................5. Total (Lines 1 to 4)....................................................................................................................................................................................... .................................................................4,991,662,577
DIRECT REFUNDS TO MEMBERSLife Insurance:
6.1 Paid in cash or left on deposit...................................................................................................................................................................... ......................................................................17,910,3816.2 Applied to pay renewal premiums................................................................................................................................................................ ......................................................................44,539,8756.3 Applied to provide paid-up additions or shorten the endowment or premium-paying period....................................................................... ....................................................................190,554,0206.4 Other............................................................................................................................................................................................................ .........................................................................................6.5 Total (Sum of Lines 6.1 to 6.4)..................................................................................................................................................................... ....................................................................253,004,276
Annuities:7.1 Paid in cash or left on deposit...................................................................................................................................................................... ........................................................................2,386,7557.2 Applied to provide paid-up annuities........................................................................................................................................................... .............................................................................10,1387.3 Other............................................................................................................................................................................................................ .............................................................................32,4027.4 Total (Sum of Lines 7.1 to 7.3)..................................................................................................................................................................... ........................................................................2,429,2958. Total (Line 6.5 plus Line 7.4)....................................................................................................................................................................... ....................................................................255,433,571
DIRECT CLAIMS AND BENEFITS PAID9. Death benefits.............................................................................................................................................................................................. .................................................................1,050,017,849
10. Matured endowments.................................................................................................................................................................................. ........................................................................9,920,27311. Annuity benefits........................................................................................................................................................................................... ....................................................................639,419,57912. Surrender values and withdrawals for life contracts.................................................................................................................................... .................................................................1,922,516,44313. Aggregate write-ins for miscellaneous direct claims and benefits paid........................................................................................................ ......................................................................................014. All other benefits, except accident & health................................................................................................................................................. ......................................................................19,706,43815. Total............................................................................................................................................................................................................. .................................................................3,641,580,582
DETAILS OF WRITE-INS1301. ..................................................................................................................................................................................................................... .........................................................................................1302. ..................................................................................................................................................................................................................... .........................................................................................1303. ..................................................................................................................................................................................................................... .........................................................................................1398. Summary of remaining write-ins for Line 13 from overflow page................................................................................................................. ......................................................................................01399. Totals (Items 1301 through 1303 plus 1398) (Line 13 above)..................................................................................................................... ......................................................................................0
1 2DIRECT DEATH BENEFITS AND MATURED ENDOWMENTS INCURRED Number of Certificates Amount
16. Unpaid December 31, prior year.......................................................................................................................................... .............................................2,906 ..................................115,660,84717. Incurred during current year................................................................................................................................................. ...........................................22,027 ...............................1,040,585,702
Settled during current year:18.1 By payment in full................................................................................................................................................................. ...........................................21,957 ...............................1,037,888,21818.2 By payment on compromised claims.................................................................................................................................... ....................................................... .......................................................18.3 Total paid.............................................................................................................................................................................. ...........................................21,957 ...............................1,037,888,21818.4 Reduction by compromise.................................................................................................................................................... ....................................................... ...........................................32,80718.5 Amount rejected................................................................................................................................................................... ..................................................10 .........................................103,32618.6 Total settlements.................................................................................................................................................................. ...........................................21,967 ...............................1,038,024,35119. Unpaid Dec. 31, current year (Lines 16 + 17 - 18.6)............................................................................................................ .............................................2,966 ..................................118,222,198
POLICY EXHIBIT20. In force December 31, prior year.......................................................................................................................................... ......................................2,079,564 ...........................187,363,198,85421. Issued during year................................................................................................................................................................ ...........................................50,360 .............................11,876,215,70622. Other changes to in force (net)............................................................................................................................................. ..........................................(71,940) ..............................(6,220,550,264)23. In force December 31, current year...................................................................................................................................... ......................................2,057,984 ...........................193,018,864,296
ACCIDENT AND HEALTH INSURANCE1 2 3 4 5
Direct Refunds Paid Direct DirectDirect Premiums or Credited on Losses Losses
Premiums Earned Direct Business Paid Incurred24. Collectively Renewable Certificates................................................. ..................................... ..................................... ..................................... ..................................... .....................................
Other Individual Certificates:25.1 Non-cancelable................................................................................ ..................19,610,494 ..................19,649,973 ....................4,404,919 ..................12,844,061 ....................6,540,48025.2 Guaranteed renewable..................................................................... ................299,313,291 ................297,454,025 ....................3,186,627 ................318,508,503 ................340,629,62425.3 Non-renewable for stated reasons only............................................ .......................835,362 .......................844,078 .........................34,535 ....................1,596,147 ....................1,180,58825.4 Other accident only.......................................................................... ..................................... ..................................... ..................................... ..................................... .....................................25.5 Medicare Title XVIII exempt from state taxes or fees....................... ..................................... ..................................... ..................................... ..................................... .....................................25.6 All Other........................................................................................... ..................................... ..................................... ..................................... ..................................... .....................................25.7 Totals (sum of Lines 25.1 to 25.6).................................................... ................319,759,147 ................317,948,076 ....................7,626,082 ................332,948,711 ................348,350,69226. Totals (Line 24 + 25.7)..................................................................... ................319,759,147 ................317,948,076 ....................7,626,082 ................332,948,711 ................348,350,692
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
24
EXHIBIT OF LIFE INSURANCE1 2
Number of Amount of InsuranceCertificates (a)
1. In force end of prior year.................................................................................................................................................... ......................................2,079,563 ..................................187,363,1992. Issued during year............................................................................................................................................................. ...........................................51,649 ....................................11,929,0963. Reinsurance assumed....................................................................................................................................................... - .................................................. - ..................................................4. Revived during year........................................................................................................................................................... .............................................3,464 .........................................711,0615. Increased during year (net)................................................................................................................................................ - .................................................. ......................................1,116,8476. Subtotals, Lines 2 to 5....................................................................................................................................................... ...........................................55,113 ....................................13,757,0047. Additions by refunds during year....................................................................................................................................... ......................XXX.......................... .......................................................8. Aggregate write-ins for increases...................................................................................................................................... ....................................................0 ....................................................09. Totals (Line 1 plus Line 6 to Line 8)................................................................................................................................... ......................................2,134,676 ..................................201,120,203
Deductions During Year:10. Death................................................................................................................................................................................. ...........................................22,017 ......................................1,056,27711. Maturity.............................................................................................................................................................................. ................................................609 ...........................................10,99712. Disability............................................................................................................................................................................. ....................................................... .......................................................13. Expiry................................................................................................................................................................................. ................................................513 .........................................172,26214. Surrender........................................................................................................................................................................... ...........................................28,917 ......................................2,227,05115. Lapse................................................................................................................................................................................. ...........................................19,818 ......................................3,450,33516. Conversion......................................................................................................................................................................... .............................................4,819 ......................................1,184,41717. Decreased (net)................................................................................................................................................................. ....................................................... .......................................................18. Reinsurance....................................................................................................................................................................... ....................................................... .......................................................19. Aggregate write-ins for decreases..................................................................................................................................... ....................................................0 ....................................................020. Totals (Lines 10 to 19)....................................................................................................................................................... ...........................................76,693 ......................................8,101,33921. In force end of year (b) (Line 9 minus Line 20).................................................................................................................. ......................................2,057,983 ..................................193,018,86422. Reinsurance ceded end of year......................................................................................................................................... ......................XXX.......................... ....................................59,818,29723. Line 21 minus Line 22........................................................................................................................................................ ......................XXX.......................... ..................................133,200,567
DETAILS OF WRITE-INS0801. ........................................................................................................................................................................................... ....................................................... .......................................................0802. ........................................................................................................................................................................................... ....................................................... .......................................................0803. ........................................................................................................................................................................................... ....................................................... .......................................................0898. Summary of remaining write-ins for Line 8 from overflow page......................................................................................... ....................................................0 ....................................................00899. Totals (Lines 0801 through 0803 plus 0898) (Line 8 above)............................................................................................. ....................................................0 ....................................................01901. ........................................................................................................................................................................................... ....................................................... .......................................................1902. ........................................................................................................................................................................................... ....................................................... .......................................................1903. ........................................................................................................................................................................................... ....................................................... .......................................................1998. Summary of remaining write-ins for Line 19 from overflow page....................................................................................... ....................................................0 ....................................................01999. Totals (Lines 1901 through 1903 plus 1998) (Line 19 above)........................................................................................... ....................................................0 ....................................................0
(a) Amounts of life insurance in this exhibit shall be shown in thousands (omit 000).(b) Paid-up insurance included in the final totals of Line 21 (including additions to certificates) number of certificates.....218,397 , amount, $.....15,324,210.
Additional accidental death benefits included in life certificates were in amount $.....12,788,670. Does the society collect anycontributions from members for general expenses of the society under fully paid-up certificates? Yes [ ] No [ X ]If not, how are such expenses met?...............
EXHIBIT OF NUMBERS OF CERTIFICATES FOR SUPPLEMENTARY CONTRACTS,ANNUITIES AND ACCIDENT AND HEALTH INSURANCE
1 2 3 4Supplementary Supplementary
Contracts Contracts Accident &(Involving Life (Not Involving Life Individual HealthContingencies) Contingencies) Annuities Insurance
1. In force end of prior year.................................................. .......................................41,508 .......................................70,323 .....................................587,547 .....................................211,0562. Issued during year............................................................ ............................................827 .......................................13,782 .......................................34,740 .......................................13,4073. Reinsurance assumed...................................................... ................................................... ................................................... ................................................... ...................................................4. Increased during year (net).............................................. ................................................... ................................................... ................................................... ...................................................5. Totals (Lines 1 to 4).......................................................... .......................................42,335 .......................................84,105 .....................................622,287 .....................................224,463
Deduction during year:6. Decreased during year (net)............................................. .........................................2,742 .........................................5,301 .......................................26,543 .........................................8,5847. Reinsurance ceded.......................................................... ................................................... ................................................... ................................................... ...................................................8. Totals (Lines 6 and 7)....................................................... .........................................2,742 .........................................5,301 .......................................26,543 .........................................8,5849. In force end of year (Line 5 minus Line 8)........................ .......................................39,593 .......................................78,804 .....................................595,744 .....................................215,879
10. Amount on deposit........................................................... ................................................... ...........................2,213,088,911 ................................................... .....................XXX.......................Income now payable:
11. Amount of income payable............................................... ..............................191,117,113 ..............................133,660,298 ..............................149,056,230 .....................XXX.......................Deferred fully paid:
12. Account balance............................................................... .....................XXX....................... .....................XXX....................... ...........................4,302,681,884 .....................XXX.......................Deferred not fully paid:
13. Account balance............................................................... .....................XXX....................... .....................XXX....................... .........................34,572,184,501 .....................XXX.......................
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
25
FORM FOR CALCULATING THE INTEREST MAINTENANCE RESERVE Interest Maintenance Reserve
1Amount
1. Reserve as of December 31, prior year................................................................................................................................................................................... ....................................423,117,337
2. Current year's realized pre-tax capital gains/(losses) of $.....111,165,790 transferred into the reserve net of taxes of $..........0............................................ ....................................111,165,790
3. Adjustment for current year's liability gains/(losses) released from the reserve....................................................................................................................... ...........................................241,854
4. Balance before reduction for amount transferred to Summary of Operations (Line 1 + Line 2 + Line 3)................................................................................. ....................................534,524,981
5. Current year's amortization released to Summary of Operations (Amortization, Line 1, Column 4)........................................................................................ ....................................118,180,695
6. Reserve as of December 31, current year (Line 4 minus Line 5)............................................................................................................................................. ....................................416,344,286
Amortization1 2 3 4
Reserve as of Current Year's Realized Capital Adjustment for Current Year's Balance Before Reduction forYear of December 31, Gains/(Losses) Transferred into Liability Gains/(Losses) the Current Year's Amortization
Amortization Prior Year the Reserve Net of Taxes Released from the Reserve (Cols. 1 + 2 + 3)
1. 2016................................... ..........................................82,018,739 ..........................................36,103,889 .................................................58,067 ........................................118,180,695
2. 2017................................... ..........................................56,663,574 ..........................................22,384,339 .................................................65,672 ..........................................79,113,585
3. 2018................................... ..........................................44,637,907 ..........................................11,975,771 .................................................51,060 ..........................................56,664,738
4. 2019................................... ..........................................34,759,833 ............................................8,952,119 .................................................36,119 ..........................................43,748,071
5. 2020................................... ..........................................25,458,812 ............................................5,854,945 .................................................22,723 ..........................................31,336,480
6. 2021................................... ..........................................20,085,952 ............................................2,681,610 ...................................................7,927 ..........................................22,775,489
7. 2022................................... ..........................................16,563,812 ............................................1,125,339 ......................................................213 ..........................................17,689,364
8. 2023................................... ..........................................14,299,484 ............................................1,139,441 ........................................................73 ..........................................15,438,998
9. 2024................................... ..........................................12,477,326 ............................................1,164,289 ............................................................. ..........................................13,641,615
10. 2025................................... ..........................................10,740,114 ............................................1,170,557 ............................................................. ..........................................11,910,671
11. 2026................................... ............................................9,231,927 ............................................1,199,290 ............................................................. ..........................................10,431,217
12. 2027................................... ............................................8,015,991 ............................................1,212,823 ............................................................. ............................................9,228,814
13. 2028................................... ............................................7,523,365 ............................................1,223,540 ............................................................. ............................................8,746,905
14. 2029................................... ............................................7,575,787 ............................................1,246,236 ............................................................. ............................................8,822,023
15. 2030................................... ............................................7,646,034 ............................................1,241,129 ............................................................. ............................................8,887,163
16. 2031................................... ............................................7,763,727 ............................................1,279,942 ............................................................. ............................................9,043,669
17. 2032................................... ............................................7,842,852 ............................................1,273,762 ............................................................. ............................................9,116,614
18. 2033................................... ............................................7,574,248 ............................................1,279,180 ............................................................. ............................................8,853,428
19. 2034................................... ............................................7,125,215 ............................................1,305,045 ............................................................. ............................................8,430,260
20. 2035................................... ............................................6,787,300 ............................................1,309,880 ............................................................. ............................................8,097,180
21. 2036................................... ............................................6,159,564 ............................................1,312,454 ............................................................. ............................................7,472,018
22. 2037................................... ............................................5,417,900 ............................................1,208,979 ............................................................. ............................................6,626,879
23. 2038................................... ............................................4,670,654 ............................................1,036,590 ............................................................. ............................................5,707,244
24. 2039................................... ............................................3,819,029 ...............................................804,511 ............................................................. ............................................4,623,540
25. 2040................................... ............................................2,940,589 ...............................................600,634 ............................................................. ............................................3,541,223
26. 2041................................... ............................................2,233,361 ...............................................386,791 ............................................................. ............................................2,620,152
27. 2042................................... ............................................1,554,381 ...............................................244,191 ............................................................. ............................................1,798,572
28. 2043................................... ...............................................944,891 ...............................................194,356 ............................................................. ............................................1,139,247
29. 2044................................... ...............................................451,954 ...............................................139,538 ............................................................. ...............................................591,492
30. 2045................................... ...............................................133,017 .................................................84,719 ............................................................. ...............................................217,736
31. 2046 and Later................... ............................................................. .................................................29,901 ............................................................. .................................................29,901
32. Total (Lines 1 to 31)........... ........................................423,117,338 ........................................111,165,790 ...............................................241,854 ........................................534,524,982
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
26
ASSET VALUATION RESERVEDefault Component Equity Component 7
1 2 3 4 5 6Other Than Real Estate TotalMortgage Mortgage Total Common and Other Total Amount
Loans Loans (Cols. 1 + 2) Stock Invested Assets (Cols. 4 + 5) (Cols. 3 + 6)
1. Reserve as of December 31, prior year................................................................................................................. ........................333,844,171 ..........................68,671,627 ........................402,515,798 ........................160,074,111 ........................436,967,848 ........................597,041,959 ........................999,557,757
2. Realized capital gains/(losses) net of taxes - General Account............................................................................. ..........................18,923,475 ...........................(6,538,625) ..........................12,384,850 ..........................66,859,166 ...........................(7,212,814) ..........................59,646,352 ..........................72,031,202
3. Realized capital gains/(losses) net of taxes - Separate Accounts.......................................................................... ............................................. ............................................. ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
4. Unrealized capital gains/(losses) - net of deferred taxes - General Account.......................................................... ..........................20,301,132 ............................................. ..........................20,301,132 ........................205,539,858 ........................218,878,171 ........................424,418,029 ........................444,719,161
5. Unrealized capital gains/(losses) - net of deferred taxes - Separate Accounts....................................................... ..........................46,539,854 ............................................. ..........................46,539,854 ............................................. ............................................. ..........................................0 ..........................46,539,854
6. Capital gains credited/(losses charged) to contract benefits, payments or reserves............................................... ............................................. ............................................. ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
7. Basic contribution................................................................................................................................................. ..........................79,369,531 ..........................15,169,070 ..........................94,538,601 ............................................. .................................17,052 .................................17,052 ..........................94,555,653
8. Accumulated balances (Lines 1 through 5, minus 6 plus 7)................................................................................... ........................498,978,163 ..........................77,302,072 ........................576,280,235 ........................432,473,135 ........................648,650,257 .....................1,081,123,392 .....................1,657,403,627
9. Maximum reserve................................................................................................................................................. ........................354,795,849 ..........................71,965,499 ........................426,761,348 ........................200,604,725 ........................471,933,924 ........................672,538,649 .....................1,099,299,997
10. Reserve objective................................................................................................................................................. ........................244,377,806 ..........................55,677,878 ........................300,055,684 ........................200,604,725 ........................471,904,084 ........................672,508,809 ........................972,564,493
11. 20% of (Line 10 minus Line 8).............................................................................................................................. .........................(50,920,071) ...........................(4,324,839) .........................(55,244,910) .........................(46,373,682) .........................(35,349,235) .........................(81,722,917) .......................(136,967,827)
12. Balance before transfers (Lines 8 + 11)................................................................................................................ ........................448,058,091 ..........................72,977,234 ........................521,035,325 ........................386,099,453 ........................613,301,022 ........................999,400,475 .....................1,520,435,800
13. Transfers.............................................................................................................................................................. .........................(93,262,244) ..........................93,262,244 ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
14. Voluntary contribution........................................................................................................................................... ............................................. ............................................. ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
15. Adjustment down to maximum/up to zero............................................................................................................. ............................................. .........................(94,273,977) .........................(94,273,977) .......................(185,494,727) .......................(141,367,098) .......................(326,861,825) .......................(421,135,802)
16. Reserve as of December 31, current year (Lines 12 + 13 + 14 + 15)..................................................................... ........................354,795,847 ..........................71,965,501 ........................426,761,348 ........................200,604,726 ........................471,933,924 ........................672,538,650 .....................1,099,299,998
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
27
ASSET VALUATION RESERVEBasic Contribution, Reserve Objective and Maximum Reserve Calculations
Default Component1 2 3 4 Basic Contribution Reserve Objective Maximum Reserve
Balance for 5 6 7 8 9 10NAIC Book/Adjusted Reclassify Add AVR Reserve
Line Desig- Carrying Related Party Third Party Calculations Amount Amount AmountNumber nation Description Value Encumbrances Encumbrances (Cols. 1 + 2 + 3) Factor (Cols. 4 x 5) Factor (Cols. 4 x 7) Factor (Cols. 4 x 9)
LONG-TERM BONDS1 Exempt obligations............................................................................................. ............2,441,022,876 ............XXX................. ............XXX................. ............2,441,022,876 ................0.0000 .................................0 ................0.0000 .................................0 ................0.0000 .................................02 1 Highest quality.................................................................................................... ..........22,755,333,082 ............XXX................. ............XXX................. ..........22,755,333,082 ................0.0004 ...................9,102,133 ................0.0023 .................52,337,266 ................0.0030 .................68,265,9993 2 High quality......................................................................................................... ..........13,985,937,548 ............XXX................. ............XXX................. ..........13,985,937,548 ................0.0019 .................26,573,281 ................0.0058 .................81,118,438 ................0.0090 ...............125,873,4384 3 Medium quality................................................................................................... ............1,996,342,169 ............XXX................. ............XXX................. ............1,996,342,169 ................0.0093 .................18,565,982 ................0.0230 .................45,915,870 ................0.0340 .................67,875,6345 4 Low quality.......................................................................................................... ...............926,905,049 ............XXX................. ............XXX................. ...............926,905,049 ................0.0213 .................19,743,078 ................0.0530 .................49,125,968 ................0.0750 .................69,517,8796 5 Lower quality...................................................................................................... ...............103,102,208 ............XXX................. ............XXX................. ...............103,102,208 ................0.0432 ...................4,454,015 ................0.1100 .................11,341,243 ................0.1700 .................17,527,3757 6 In or near default................................................................................................. ...................9,367,403 ............XXX................. ............XXX................. ...................9,367,403 ................0.0000 .................................0 ................0.2000 ...................1,873,481 ................0.2000 ...................1,873,4818 Total unrated multi-class securities acquired by conversion................................ .................................... ............XXX................. ............XXX................. .................................0 ...........XXX.......... .................................0 ...........XXX.......... .................................0 ...........XXX.......... ....................................9 Total long-term bonds (sum of Lines 1 through 8)............................................... ..........42,218,010,334 ............XXX................. ............XXX................. ..........42,218,010,334 ...........XXX.......... .................78,438,490 ...........XXX.......... ...............241,712,265 ...........XXX.......... ...............350,933,806
PREFERRED STOCKS10 1 Highest quality.................................................................................................... ...................2,505,435 ............XXX................. ............XXX................. ...................2,505,435 ................0.0004 ..........................1,002 ................0.0023 ..........................5,763 ................0.0030 ..........................7,51611 2 High quality......................................................................................................... .................42,013,594 ............XXX................. ............XXX................. .................42,013,594 ................0.0019 ........................79,826 ................0.0058 ......................243,679 ................0.0090 ......................378,12212 3 Medium quality................................................................................................... .................80,752,677 ............XXX................. ............XXX................. .................80,752,677 ................0.0093 ......................751,000 ................0.0230 ...................1,857,312 ................0.0340 ...................2,745,59113 4 Low quality.......................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0213 .................................0 ................0.0530 .................................0 ................0.0750 .................................014 5 Lower quality...................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0432 .................................0 ................0.1100 .................................0 ................0.1700 .................................015 6 In or near default................................................................................................. .............................844 ............XXX................. ............XXX................. .............................844 ................0.0000 .................................0 ................0.2000 .............................169 ................0.2000 .............................16916 Affiliated life with AVR......................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0000 .................................0 ................0.0000 .................................0 ................0.0000 .................................017 Total preferred stocks (sum of Lines 10 through 16)............................................ ...............125,272,550 ............XXX................. ............XXX................. ...............125,272,550 ...........XXX.......... ......................831,828 ...........XXX.......... ...................2,106,922 ...........XXX.......... ...................3,131,398
SHORT-TERM BONDS18 Exempt obligations............................................................................................. ...............134,606,312 ............XXX................. ............XXX................. ...............134,606,312 ................0.0000 .................................0 ................0.0000 .................................0 ................0.0000 .................................019 1 Highest quality.................................................................................................... ...............214,826,984 ............XXX................. ............XXX................. ...............214,826,984 ................0.0004 ........................85,931 ................0.0023 ......................494,102 ................0.0030 ......................644,48120 2 High quality......................................................................................................... ...................1,007,415 ............XXX................. ............XXX................. ...................1,007,415 ................0.0019 ..........................1,914 ................0.0058 ..........................5,843 ................0.0090 ..........................9,06721 3 Medium quality................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0093 .................................0 ................0.0230 .................................0 ................0.0340 .................................022 4 Low quality.......................................................................................................... ........................96,335 ............XXX................. ............XXX................. ........................96,335 ................0.0213 ..........................2,052 ................0.0530 ..........................5,106 ................0.0750 ..........................7,22523 5 Lower quality...................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0432 .................................0 ................0.1100 .................................0 ................0.1700 .................................024 6 In or near default................................................................................................. .................................... ............XXX................. ............XXX................. .................................0 ................0.0000 .................................0 ................0.2000 .................................0 ................0.2000 .................................025 Total short-term bonds (sum of Lines 18 through 24).......................................... ...............350,537,046 ............XXX................. ............XXX................. ...............350,537,046 ...........XXX.......... ........................89,897 ...........XXX.......... ......................505,051 ...........XXX.......... ......................660,773
DERIVATIVE INSTRUMENTS26 Exchange traded................................................................................................. ........................15,549 ............XXX................. ............XXX................. ........................15,549 ................0.0004 .................................6 ................0.0023 ...............................36 ................0.0030 ...............................4727 1 Highest quality.................................................................................................... .................23,275,056 ............XXX................. ............XXX................. .................23,275,056 ................0.0004 ..........................9,310 ................0.0023 ........................53,533 ................0.0030 ........................69,82528 2 High quality......................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0019 .................................0 ................0.0058 .................................0 ................0.0090 .................................029 3 Medium quality................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0093 .................................0 ................0.0230 .................................0 ................0.0340 .................................030 4 Low quality.......................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0213 .................................0 ................0.0530 .................................0 ................0.0750 .................................031 5 Lower quality...................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0432 .................................0 ................0.1100 .................................0 ................0.1700 .................................032 6 In or near default................................................................................................. .................................... ............XXX................. ............XXX................. .................................0 ................0.0000 .................................0 ................0.2000 .................................0 ................0.2000 .................................033 Total derivative instruments................................................................................ .................23,290,605 ............XXX................. ............XXX................. .................23,290,605 ...........XXX.......... ..........................9,316 ...........XXX.......... ........................53,568 ...........XXX.......... ........................69,87234 Total (Lines 9 + 17 + 25 + 33)............................................................................. ..........42,717,110,535 ............XXX................. ............XXX................. ..........42,717,110,535 ...........XXX.......... .................79,369,531 ...........XXX.......... ...............244,377,806 ...........XXX.......... ...............354,795,849
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
28
ASSET VALUATION RESERVE (continued)Basic Contribution, Reserve Objective and Maximum Reserve Calculations
Default Component1 2 3 4 Basic Contribution Reserve Objective Maximum Reserve
Balance for 5 6 7 8 9 10NAIC Book/Adjusted Reclassify Add AVR Reserve
Line Desig- Carrying Related Party Third Party Calculations Amount Amount AmountNumber nation Description Value Encumbrances Encumbrances (Cols. 1 + 2 + 3) Factor (Cols. 4 x 5) Factor (Cols. 4 x 7) Factor (Cols. 4 x 9)
MORTGAGE LOANSIn good standing:
35 Farm mortgages - CM1 - highest quality......................................................... .................................... .................................... ............XXX................. .................................0 ................0.0010 .................................0 ................0.0050 .................................0 ................0.0065 .................................036 Farm mortgages - CM2 - high quality.............................................................. .................................... .................................... ............XXX................. .................................0 ................0.0035 .................................0 ................0.0100 .................................0 ................0.0130 .................................037 Farm mortgages - CM3 - medium quality........................................................ .................................... .................................... ............XXX................. .................................0 ................0.0060 .................................0 ................0.0175 .................................0 ................0.0225 .................................038 Farm mortgages - CM4 - low medium quality.................................................. .................................... .................................... ............XXX................. .................................0 ................0.0105 .................................0 ................0.0300 .................................0 ................0.0375 .................................039 Farm mortgages - CM5 - low quality............................................................... .................................... .................................... ............XXX................. .................................0 ................0.0160 .................................0 ................0.0425 .................................0 ................0.0550 .................................040 Residential mortgages-insured or guaranteed................................................. .................................... .................................... ............XXX................. .................................0 ................0.0003 .................................0 ................0.0006 .................................0 ................0.0010 .................................041 Residential mortgages-all other....................................................................... .................................... .................................... ............XXX................. .................................0 ................0.0013 .................................0 ................0.0030 .................................0 ................0.0040 .................................042 Commercial mortgages-insured or guaranteed................................................ .................................... .................................... ............XXX................. .................................0 ................0.0003 .................................0 ................0.0006 .................................0 ................0.0010 .................................043 Commercial mortgages-all other - CM1 - highest quality................................. ............5,276,594,056 .................................... ............XXX................. ............5,276,594,056 ................0.0010 ...................5,276,594 ................0.0050 .................26,382,970 ................0.0065 .................34,297,86144 Commercial mortgages-all other - CM2 - high quality...................................... ............2,094,193,169 .................................... ............XXX................. ............2,094,193,169 ................0.0035 ...................7,329,676 ................0.0100 .................20,941,932 ................0.0130 .................27,224,51145 Commercial mortgages-all other - CM3 - medium quality................................ ...............363,410,386 .................................... ............XXX................. ...............363,410,386 ................0.0060 ...................2,180,462 ................0.0175 ...................6,359,682 ................0.0225 ...................8,176,73446 Commercial mortgages-all other - CM4 - low medium quality.......................... .................36,413,123 .................................... ............XXX................. .................36,413,123 ................0.0105 ......................382,338 ................0.0300 ...................1,092,394 ................0.0375 ...................1,365,49247 Commercial mortgages-all other - CM5 - low quality....................................... .................................... .................................... ............XXX................. .................................0 ................0.0160 .................................0 ................0.0425 .................................0 ................0.0550 .................................0
Overdue, not in process:48 Farm mortgages............................................................................................. .................................... .................................... ............XXX................. .................................0 ................0.0420 .................................0 ................0.0760 .................................0 ................0.1200 .................................049 Residential mortgages-insured or guaranteed................................................. .................................... .................................... ............XXX................. .................................0 ................0.0005 .................................0 ................0.0012 .................................0 ................0.0020 .................................050 Residential mortgages-all other....................................................................... .................................... .................................... ............XXX................. .................................0 ................0.0025 .................................0 ................0.0058 .................................0 ................0.0090 .................................051 Commercial mortgages-insured or guaranteed................................................ .................................... .................................... ............XXX................. .................................0 ................0.0005 .................................0 ................0.0012 .................................0 ................0.0020 .................................052 Commercial mortgages-all other..................................................................... .................................... .................................... ............XXX................. .................................0 ................0.0420 .................................0 ................0.0760 .................................0 ................0.1200 .................................0
In process of foreclosure:53 Farm mortgages............................................................................................. .................................... .................................... ............XXX................. .................................0 ................0.0000 .................................0 ................0.1700 .................................0 ................0.1700 .................................054 Residential mortgages-insured or guaranteed................................................. .................................... .................................... ............XXX................. .................................0 ................0.0000 .................................0 ................0.0040 .................................0 ................0.0040 .................................055 Residential mortgages-all other....................................................................... .................................... .................................... ............XXX................. .................................0 ................0.0000 .................................0 ................0.0130 .................................0 ................0.0130 .................................056 Commercial mortgages-insured or guaranteed................................................ .................................... .................................... ............XXX................. .................................0 ................0.0000 .................................0 ................0.0040 .................................0 ................0.0040 .................................057 Commercial mortgages-all other..................................................................... ...................5,299,416 .................................... ............XXX................. ...................5,299,416 ................0.0000 .................................0 ................0.1700 ......................900,901 ................0.1700 ......................900,90158 Total Schedule B mortgages (sum of Lines 35 through 57)................................. ............7,775,910,151 .................................0 ...........XXX.................. ............7,775,910,151 ...........XXX.......... .................15,169,070 ...........XXX.......... .................55,677,878 ...........XXX.......... .................71,965,49959 Schedule DA mortgages..................................................................................... .................................... .................................... ............XXX................. .................................0 ................0.0030 .................................0 ................0.0100 .................................0 ................0.0130 .................................060 Total mortgage loans on real estate (Lines 58 + 59)............................................ ............7,775,910,151 .................................0 ............XXX................. ............7,775,910,151 ...........XXX.......... .................15,169,070 ...........XXX.......... .................55,677,878 ...........XXX.......... .................71,965,499
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
29
ASSET VALUATION RESERVEBasic Contribution, Reserve Objective and Maximum Reserve Calculations
Equity and Other Invested Asset Component1 2 3 4 Basic Contribution Reserve Objective Maximum Reserve
Balance for 5 6 7 8 9 10NAIC Book/Adjusted Reclassify Add AVR Reserve
Line Desig- Carrying Related Party Third Party Calculations Amount Amount AmountNumber nation Description Value Encumbrances Encumbrances (Cols. 1 + 2 + 3) Factor (Cols. 4 x 5) Factor (Cols. 4 x 7) Factor (Cols. 4 x 9)
COMMON STOCK1 Unaffiliated public........................................................................................................... ...........1,210,509,547 .............XXX.............. ...........XXX................ ...........1,210,509,547 ................0.0000 .............................0 (a)............0.1391 ..............168,381,878 (a)............0.1391 ..............168,381,8782 Unaffiliated private.......................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.1600 ...............................0 ................0.1600 ...............................03 Federal Home Loan Bank............................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0050 ...............................0 ................0.0080 ...............................04 Affiliated life with AVR.................................................................................................... ..............156,386,262 .............XXX.............. ...........XXX................ ..............156,386,262 ................0.0000 .............................0 ................0.0000 ...............................0 ................0.0000 ...............................0
Affiliated Investment Subsidiary:5 Fixed income exempt obligations................................................................................ .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................6 Fixed income highest quality...................................................................................... .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................7 Fixed income high quality........................................................................................... .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................8 Fixed income medium quality..................................................................................... .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................9 Fixed income low quality............................................................................................ .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................
10 Fixed income lower quality......................................................................................... .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................11 Fixed income in or near default................................................................................... .................................. .................................. .................................. ...............................0 ...........XXX.......... ................................ ...........XXX.......... .................................. ...........XXX.......... ..................................12 Unaffiliated common stock public............................................................................... .................................. .................................. .................................. ...............................0 ................0.0000 .............................0 (a)........................ ...............................0 (a)........................ ...............................013 Unaffiliated common stock private.............................................................................. .................................. .................................. .................................. ...............................0 ................0.0000 .............................0 ................0.1600 ...............................0 ................0.1600 ...............................014 Real estate................................................................................................................. .................................. .................................. .................................. ...............................0 (b)........................ .............................0 (b)........................ ...............................0 (b)........................ ...............................015 Affiliated - certain other (see SVO Purposes and Procedures Manual)............................ ..............104,755,408 .............XXX.............. ...........XXX................ ..............104,755,408 ................0.0000 .............................0 ................0.1300 ................13,618,203 ................0.1300 ................13,618,20316 Affiliated - all other.......................................................................................................... ..............116,279,024 .............XXX.............. ...........XXX................ ..............116,279,024 ................0.0000 .............................0 ................0.1600 ................18,604,644 ................0.1600 ................18,604,64417 Total common stock (sum of Lines 1 through 16)............................................................ ...........1,587,930,242 ...............................0 ...............................0 ...........1,587,930,242 ...........XXX.......... .............................0 ...........XXX.......... ..............200,604,725 ...........XXX.......... ..............200,604,725
REAL ESTATE18 Home office property (General Account only).................................................................. ................53,388,403 .................................. .................................. ................53,388,403 ................0.0000 .............................0 ................0.0750 .................4,004,130 ................0.0750 .................4,004,13019 Investment properties..................................................................................................... .................................. .................................. .................................. ...............................0 ................0.0000 .............................0 ................0.0750 ...............................0 ................0.0750 ...............................020 Properties acquired in satisfaction of debt...................................................................... .................1,923,401 .................................. .................................. .................1,923,401 ................0.0000 .............................0 ................0.1100 ....................211,574 ................0.1100 ....................211,57421 Total real estate (sum of Lines 18 through 20)................................................................ ................55,311,804 ...............................0 ...............................0 ................55,311,804 ...........XXX.......... .............................0 ...........XXX.......... .................4,215,704 ...........XXX.......... .................4,215,704
OTHER INVESTED ASSETS INVESTMENTS WITH THE UNDERLYING CHARACTERISTICS OF BONDS
22 Exempt obligations......................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0000 ...............................0 ................0.0000 ...............................023 1 Highest quality................................................................................................................ .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0004 .............................0 ................0.0023 ...............................0 ................0.0030 ...............................024 2 High quality.................................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0019 .............................0 ................0.0058 ...............................0 ................0.0090 ...............................025 3 Medium quality............................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0093 .............................0 ................0.0230 ...............................0 ................0.0340 ...............................026 4 Low quality..................................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0213 .............................0 ................0.0530 ...............................0 ................0.0750 ...............................027 5 Lower quality.................................................................................................................. .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0432 .............................0 ................0.1100 ...............................0 ................0.1700 ...............................028 6 In or near default............................................................................................................ .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.2000 ...............................0 ................0.2000 ...............................029 Total with bond characteristics (sum of Lines 22 through 28).......................................... ...............................0 .............XXX.............. ...........XXX................ ...............................0 ...........XXX.......... .............................0 ...........XXX.......... ...............................0 ...........XXX.......... ...............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
30
ASSET VALUATION RESERVE (continued)Basic Contribution, Reserve Objective and Maximum Reserve Calculations
Equity and Other Invested Asset Component1 2 3 4 Basic Contribution Reserve Objective Maximum Reserve
Balance for 5 6 7 8 9 10NAIC Book/Adjusted Reclassify Add AVR Reserve
Line Desig- Carrying Related Party Third Party Calculations Amount Amount AmountNumber nation Description Value Encumbrances Encumbrances (Cols. 1 + 2 + 3) Factor (Cols. 4 x 5) Factor (Cols. 4 x 7) Factor (Cols. 4 x 9)
INVESTMENTS WITH THE UNDERLYING CHARACTERISTICS OF PREFERRED STOCKS
30 1 Highest quality................................................................................................................ ................42,628,776 .............XXX.............. ...........XXX................ ................42,628,776 ................0.0004 ....................17,052 ................0.0023 ......................98,046 ................0.0030 ....................127,88631 2 High quality.................................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0019 .............................0 ................0.0058 ...............................0 ................0.0090 ...............................032 3 Medium quality............................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0093 .............................0 ................0.0230 ...............................0 ................0.0340 ...............................033 4 Low quality..................................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0213 .............................0 ................0.0530 ...............................0 ................0.0750 ...............................034 5 Lower quality.................................................................................................................. .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0432 .............................0 ................0.1100 ...............................0 ................0.1700 ...............................035 6 In or near default............................................................................................................ .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.2000 ...............................0 ................0.2000 ...............................036 Affiliated life with AVR.................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0000 ...............................0 ................0.0000 ...............................037 Total with preferred stock characteristics (sum of Lines 30 through 36).......................... ................42,628,776 .............XXX.............. ...........XXX................ ................42,628,776 ...........XXX.......... ....................17,052 ...........XXX.......... ......................98,046 ...........XXX.......... ....................127,886
INVESTMENTS WITH THE UNDERLYING CHARACTERISTICS OF MORTGAGE LOANS
In Good Standing Affiliated:38 Mortgages - CM1 - highest quality.............................................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0010 .............................0 ................0.0050 ...............................0 ................0.0065 ...............................039 Mortgages - CM2 - high quality................................................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0035 .............................0 ................0.0100 ...............................0 ................0.0130 ...............................040 Mortgages - CM3 - medium quality............................................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0060 .............................0 ................0.0175 ...............................0 ................0.0225 ...............................041 Mortgages - CM4 - low medium quality....................................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0105 .............................0 ................0.0300 ...............................0 ................0.0375 ...............................042 Mortgages - CM5 - low quality.................................................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0160 .............................0 ................0.0425 ...............................0 ................0.0550 ...............................043 Residential mortgages-insured or guaranteed............................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0003 .............................0 ................0.0006 ...............................0 ................0.0010 ...............................044 Residential mortgages-all other.................................................................................. .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0013 .............................0 ................0.0030 ...............................0 ................0.0040 ...............................045 Commercial mortgages-insured or guaranteed........................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0003 .............................0 ................0.0006 ...............................0 ................0.0010 ...............................0
Overdue, Not in Process Affiliated:46 Farm mortgages......................................................................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0420 .............................0 ................0.0760 ...............................0 ................0.1200 ...............................047 Residential mortgages-insured or guaranteed............................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0005 .............................0 ................0.0012 ...............................0 ................0.0020 ...............................048 Residential mortgages-all other.................................................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0025 .............................0 ................0.0058 ...............................0 ................0.0090 ...............................049 Commercial mortgages-insured or guaranteed........................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0005 .............................0 ................0.0012 ...............................0 ................0.0020 ...............................050 Commercial mortgages-all other................................................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0420 .............................0 ................0.0760 ...............................0 ................0.1200 ...............................0
In Process of foreclosure Affiliated:51 Farm mortgages......................................................................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.1700 ...............................0 ................0.1700 ...............................052 Residential mortgages-insured or guaranteed............................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0040 ...............................0 ................0.0040 ...............................053 Residential mortgages-all other.................................................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0130 ...............................0 ................0.0130 ...............................054 Commercial mortgages-insured or guaranteed........................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0040 ...............................0 ................0.0040 ...............................055 Commercial mortgages-all other................................................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.1700 ...............................0 ................0.1700 ...............................056 Total Affiliated (Sum of Lines 38 through 55).................................................................. ...............................0 ...............................0 ...........XXX................ ...............................0 ...........XXX.......... .............................0 ...........XXX.......... ...............................0 ...........XXX.......... ...............................057 Unaffiliated - In Good Standing with Covenants.............................................................. .................................. .................................. ...........XXX................ ...............................0 (c)........................ .............................0 (c)........................ ...............................0 (c)........................ ...............................058 Unaffiliated - In Good Standing Defeased with Government Securities........................... .................................. .................................. ...........XXX................ ...............................0 ................0.0010 .............................0 ................0.0050 ...............................0 ................0.0065 ...............................059 Unaffiliated - In Good Standing Primarily Senior............................................................. .................................. .................................. ...........XXX................ ...............................0 ................0.0035 .............................0 ................0.0100 ...............................0 ................0.0130 ...............................060 Unaffiliated - In Good Standing All Other........................................................................ .................................. .................................. ...........XXX................ ...............................0 ................0.0060 .............................0 ................0.0175 ...............................0 ................0.0225 ...............................061 Unaffiliated - Overdue, Not in Process............................................................................ .................................. .................................. ...........XXX................ ...............................0 ................0.0420 .............................0 ................0.0760 ...............................0 ................0.1200 ...............................062 Unaffiliated - In Process of Foreclosure.......................................................................... .................................. .................................. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.1700 ...............................0 ................0.1700 ...............................063 Total Unaffiliated (Sum of Lines 57 through 62).............................................................. ...............................0 ...............................0 ...........XXX................ ...............................0 ...........XXX.......... .............................0 ...........XXX.......... ...............................0 ...........XXX.......... ...............................064 Total with Mortgage Loan Characteristics (Lines 56 + 63)............................................... ...............................0 ...............................0 ...........XXX................ ...............................0 ...........XXX.......... .............................0 ...........XXX.......... ...............................0 ...........XXX.......... ...............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
31
ASSET VALUATION RESERVE (continued)Basic Contribution, Reserve Objective and Maximum Reserve Calculations
Equity and Other Invested Asset Component1 2 3 4 Basic Contribution Reserve Objective Maximum Reserve
Balance for 5 6 7 8 9 10NAIC Book/Adjusted Reclassify Add AVR Reserve
Line Desig- Carrying Related Party Third Party Calculations Amount Amount AmountNumber nation Description Value Encumbrances Encumbrances (Cols. 1 + 2 + 3) Factor (Cols. 4 x 5) Factor (Cols. 4 x 7) Factor (Cols. 4 x 9)
INVESTMENTS WITH THE UNDERLYING CHARACTERISTICS OF COMMON STOCK
65 Unaffiliated public........................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 (a)............0.1391 ...............................0 (a)............0.1391 ...............................0
66 Unaffiliated private.......................................................................................................... ..............204,237,921 .............XXX.............. ...........XXX................ ..............204,237,921 ................0.0000 .............................0 ................0.1600 ................32,678,067 ................0.1600 ................32,678,067
67 Affiliated life with AVR.................................................................................................... .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.0000 ...............................0 ................0.0000 ...............................0
68 Affiliated certain other (see SVO Purposes and Procedures Manual).............................. .................................. .............XXX.............. ...........XXX................ ...............................0 ................0.0000 .............................0 ................0.1300 ...............................0 ................0.1300 ...............................0
69 Affiliated other - all other................................................................................................. ...........2,594,771,814 .............XXX.............. ...........XXX................ ...........2,594,771,814 ................0.0000 .............................0 ................0.1600 ..............415,163,490 ................0.1600 ..............415,163,490
70 Total with Common Stock Characteristics (Sum of Lines 65 through 69)........................ ...........2,799,009,735 .............XXX.............. ...........XXX................ ...........2,799,009,735 ...........XXX.......... .............................0 ...........XXX.......... ..............447,841,558 ...........XXX.......... ..............447,841,558
INVESTMENTS WITH THE UNDERLYING CHARACTERISTICS OF REAL ESTATE
71 Home office property (general account only)................................................................... .................................. .................................. .................................. ...............................0 ................0.0000 .............................0 ................0.0750 ...............................0 ................0.0750 ...............................0
72 Investment properties..................................................................................................... ..............162,316,053 .................................. .................................. ..............162,316,053 ................0.0000 .............................0 ................0.0750 ................12,173,704 ................0.0750 ................12,173,704
73 Properties acquired in satisfaction of debt...................................................................... .................................. .................................. .................................. ...............................0 ................0.0000 .............................0 ................0.1100 ...............................0 ................0.1100 ...............................0
74 Total with Real Estate Characteristics (Sum of Lines 71 through 73).............................. ..............162,316,053 ...............................0 ...............................0 ..............162,316,053 ...........XXX.......... .............................0 ...........XXX.......... ................12,173,704 ...........XXX.......... ................12,173,704
LOW INCOME HOUSING TAX CREDIT INVESTMENTS
75 Guaranteed federal low income housing tax credit.......................................................... .................................. .................................. .................................. ...............................0 ................0.0003 .............................0 ................0.0006 ...............................0 ................0.0010 ...............................0
76 Non-guaranteed federal low income housing tax credit................................................... .................................. .................................. .................................. ...............................0 ................0.0063 .............................0 ................0.0120 ...............................0 ................0.0190 ...............................0
77 Guaranteed state low income housing tax credit............................................................. .................................. .................................. .................................. ...............................0 ................0.0003 .............................0 ................0.0006 ...............................0 ................0.0010 ...............................0
78 Non-guaranteed state low income housing tax credit...................................................... .................................. .................................. .................................. ...............................0 ................0.0063 .............................0 ................0.0120 ...............................0 ................0.0190 ...............................0
79 All other low income housing tax credit........................................................................... .................................. .................................. .................................. ...............................0 ................0.0273 .............................0 ................0.0600 ...............................0 ................0.0975 ...............................0
80 Total LIHTC (Sum of Lines 75 through 79)..................................................................... ...............................0 ...............................0 ...............................0 ...............................0 ...........XXX.......... .............................0 ...........XXX.......... ...............................0 ...........XXX.......... ...............................0
ALL OTHER INVESTMENTS
81 NAIC 1 working capital finance investments................................................................... .................................. .............XXX.............. .................................. ...............................0 ................0.0000 .............................0 ................0.0037 ...............................0 ................0.0037 ...............................0
82 NAIC 2 working capital finance investments................................................................... .................................. .............XXX.............. .................................. ...............................0 ................0.0000 .............................0 ................0.0120 ...............................0 ................0.0120 ...............................0
83 Other invested assets - Schedule BA.............................................................................. ................58,269,782 .............XXX.............. .................................. ................58,269,782 ................0.0000 .............................0 ................0.1300 .................7,575,072 ................0.1300 .................7,575,072
84 Other short-term invested assets - Schedule DA............................................................ .................................. .............XXX.............. .................................. ...............................0 ................0.0000 .............................0 ................0.1300 ...............................0 ................0.1300 ...............................0
85 Total All Other (sum of Lines 81, 82, 83 and 84)............................................................. ................58,269,782 .............XXX.............. ...............................0 ................58,269,782 ...........XXX.......... .............................0 ...........XXX.......... .................7,575,072 ...........XXX.......... .................7,575,072
86 Total Other Invested Assets - Schedule BA & DA(Sum of Lines 29, 37, 64, 70, 74, 80 and 85).................................................................. ...........3,062,224,345 ...............................0 ...............................0 ...........3,062,224,345 ...........XXX.......... ....................17,052 ...........XXX.......... ..............467,688,379 ...........XXX.......... ..............467,718,220
(a) Times the company's weighted average portfolio beta (Minimum .10, Maximum .20).(b) Determined using same factors and breakdowns used for directly owned real estate.(c) This will be the factor associated with the risk category determined in the company generated worksheet.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
32
ASSET VALUATION RESERVE (continued)Basic Contributions, Reserve Objective and Maximum Reserve Calculations
Replications (Synthetic) Assets1 2 3 4 5 6 7 8 9
NAIC Designation AVR AVR AVRRSAT Description or Other Description Value of Basic Reserve Maximum
Number Type CUSIP of Asset(s) of Asset Asset Contribution Objective Reserve
NONE
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
33
SCHEDULE FShowing all claims for death losses and all other contract claims resisted or compromised during the year, and
all claims for death losses and all other contract claims resisted December 31 of current year1 2 3 4 5 6 7 8
AmountState of Year of Claim Amount Paid Resisted
Contract Claim Residence for Death or Amount During the Dec. 31 of Why CompromisedNumbers Numbers of Claimant Disability Claimed Year Current Year or Resisted
Claims Disposed - Death.................8123499 .....................564365 IA.............. .............2015 ..................74,474 ..................57,000 .............................. Material Misrepresentation..............................................................................8139645 .....................577715 WI............. .............2016 ..................20,327 ....................3,283 .............................. Material Misrepresentation..............................................................................8155176 .....................574524 PA............. .............2016 ..................20,000 ....................1,569 .............................. Material Misrepresentation..............................................................................8168868 .....................577596 PA............. .............2016 ..................50,000 .......................445 .............................. Material Misrepresentation..............................................................................8159399 .....................580902 NE............ .............2016 .............1,000,000 ....................1,939 .............................. Material Misrepresentation..............................................................................7930945 .....................581666 IL.............. .............2016 ..................75,000 .......................371 .............................. Material Misrepresentation..............................................................................8144686 .....................581666 IL.............. .............2016 ..................15,203 .......................548 .............................. Material Misrepresentation..............................................................................8144896 .....................585417 MI............. .............2016 ..................43,510 ..................29,895 .............................. Material Misrepresentation..............................................................................8180687 .....................586152 WI............. .............2016 ..................14,127 ....................7,980 .............................. Material Misrepresentation..............................................................................6255566 .....................589138 NE............ .............2016 ..................45,241 .......................296 .............................. Material Misrepresentation.............................................................0599999. Total - Claims Disposed - Death........................................... .............1,357,882 ................103,326 ...........................0 .....................................XXX...........................................................
2699999. Total - Claims Disposed of During Current Year.................. .............1,357,882 ................103,326 ...........................0 .....................................XXX...........................................................5399999. Totals.................................................................................... .............1,357,882 ................103,326 ...........................0 .....................................XXX...........................................................
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
34
SCHEDULE H - ACCIDENT AND HEALTH EXHIBITOther Individual Contracts
Collectively Guaranteed Non-Renewable for Other AllTotal Renewable Non-Cancelable Renewable Stated Reasons Only Accident Only Other
1 2 3 4 5 6 7 8 9 10 11 12 13 14Amount % Amount % Amount % Amount % Amount % Amount % Amount %
PART 1 - ANALYSIS OF UNDERWRITING OPERATIONS
1. Premiums written................................................................................. ...........319,859,240 .......XXX...... ................................. .......XXX...... .............19,434,222 .......XXX...... ...........299,592,518 .......XXX...... ..................832,500 .......XXX...... ................................. .......XXX...... ................................. .......XXX......
2. Premiums earned................................................................................ ...........317,778,916 .......XXX...... ................................. .......XXX...... .............19,480,814 .......XXX...... ...........297,454,025 .......XXX...... ..................844,078 .......XXX...... ................................. .......XXX...... ................................. .......XXX......
3. Incurred claims.................................................................................... ...........348,327,387 ..........109.6 .............................0 ..............0.0 ...............6,517,175 ............33.5 ...........340,629,624 ..........114.5 ...............1,180,588 ..........139.9 .............................0 ..............0.0 .............................0 ..............0.0
4. Cost containment expenses................................................................ ...............3,310,509 ..............1.0 ................................. ..............0.0 ....................36,227 ..............0.2 ...............3,274,064 ..............1.1 .........................219 ..............0.0 ................................. ..............0.0 ................................. ..............0.0
5. Incurred claims and cost containment expenses (Lines 3 and 4)...... ...........351,637,896 ..........110.7 .............................0 ..............0.0 ...............6,553,402 ............33.6 ...........343,903,687 ..........115.6 ...............1,180,807 ..........139.9 .............................0 ..............0.0 .............................0 ..............0.0
6. Increase in contract reserves.............................................................. ...........328,231,614 ..........103.3 .............................0 ..............0.0 ..............(3,463,977) ...........(17.8) ...........331,574,868 ..........111.5 ..................120,723 ............14.3 .............................0 ..............0.0 .............................0 ..............0.0
7. Commissions (a).................................................................................. .............18,868,906 ..............5.9 ................................. ..............0.0 ..................623,060 ..............3.2 .............18,240,655 ..............6.1 ......................5,192 ..............0.6 ................................. ..............0.0 ................................. ..............0.0
8. Other general insurance expenses..................................................... .............37,385,826 ............11.8 ................................. ..............0.0 ...............2,884,629 ............14.8 .............34,328,588 ............11.5 ..................172,609 ............20.4 ................................. ..............0.0 ................................. ..............0.0
9. Taxes, licenses and fees..................................................................... ...............2,278,557 ..............0.7 ................................. ..............0.0 ..................175,810 ..............0.9 ...............2,092,227 ..............0.7 ....................10,520 ..............1.2 ................................. ..............0.0 ................................. ..............0.0
10. Total other expenses incurred............................................................ .............58,533,289 ............18.4 .............................0 ..............0.0 ...............3,683,499 ............18.9 .............54,661,469 ............18.4 ..................188,321 ............22.3 .............................0 ..............0.0 .............................0 ..............0.0
11. Aggregate write-ins for deductions..................................................... .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0
12. Gain from underwriting before dividends or refunds.......................... ..........(420,623,882) ........(132.4) .............................0 ..............0.0 .............12,707,890 ............65.2 ..........(432,686,000) ........(145.5) .................(645,773) ...........(76.5) .............................0 ..............0.0 .............................0 ..............0.0
13. Dividends or refunds........................................................................... ...............7,725,082 ..............2.4 ................................. ..............0.0 ...............4,619,919 ............23.7 ...............3,070,627 ..............1.0 ....................34,535 ..............4.1 ................................. ..............0.0 ................................. ..............0.0
14. Gain from underwriting after dividends or refunds............................. ..........(428,348,964) ........(134.8) .............................0 ..............0.0 ...............8,087,971 ............41.5 ..........(435,756,627) ........(146.5) .................(680,308) ...........(80.6) .............................0 ..............0.0 .............................0 ..............0.0
DETAILS OF WRITE-INS
1101. ............................................................................................................. .............................0 ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0
1102. ............................................................................................................. .............................0 ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0
1103. ............................................................................................................. .............................0 ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0 ................................. ..............0.0
1198. Summary of remaining write-ins for Line 11 from overflow page....... .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0
1199. Total (Lines 1101 through1103 plus 1198) (Line 11 above).............. .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0 .............................0 ..............0.0(a) Includes $…..….0 reported as "Contract, membership and other fees retained by agents."
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
35
SCHEDULE H - ACCIDENT AND HEALTH EXHIBIT (continued)1 2 Other Individual Contracts
3 4 5 6 7Collectively Guaranteed Non-Renewable for Other Accident
Total Renewable Non-Cancelable Renewable Stated Reasons Only Only All OtherPART 2 - RESERVES AND LIABILITIES
A. Premium Reserves:1. Unearned premiums.............................................................................................................. ...............................55,347,792 .................................................. .................................1,699,752 ...............................53,577,185 ......................................70,854 .................................................. ..................................................2. Advance premiums................................................................................................................ ...............................10,309,330 .................................................. ....................................410,274 .................................9,893,833 ........................................5,223 .................................................. ..................................................3. Reserve for rate credits......................................................................................................... ...............................................0 .................................................. - ............................................. - ............................................. - ............................................. .................................................. ..................................................4. Total premium reserves, current year................................................................................... ...............................65,657,121 ...............................................0 .................................2,110,026 ...............................63,471,018 ......................................76,078 ...............................................0 ...............................................05. Total premium reserves, prior year....................................................................................... ...............................63,576,797 .................................................. .................................2,156,618 ...............................61,332,525 ......................................87,655 .................................................. ..................................................6. Increase in total premium reserves....................................................................................... .................................2,080,324 ...............................................0 .....................................(46,592) .................................2,138,493 .....................................(11,577) ...............................................0 ...............................................0
B. Contract Reserves:1. Additional reserves (a)........................................................................................................... .........................4,612,770,231 .................................................. ...............................51,082,771 .........................4,555,899,063 .................................5,788,397 .................................................. ..................................................2. Reserve for future contingent benefits.................................................................................. ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................3. Total contract reserves, current year.................................................................................... .........................4,612,770,231 ...............................................0 ...............................51,082,771 .........................4,555,899,063 .................................5,788,397 ...............................................0 ...............................................04. Total contract reserves, prior year......................................................................................... .........................4,284,538,618 .................................................. ...............................54,546,748 .........................4,224,324,195 .................................5,667,674 .................................................. ..................................................5. Increase in contract reserves................................................................................................ .............................328,231,614 ...............................................0 ...............................(3,463,977) .............................331,574,868 ....................................120,723 ...............................................0 ...............................................0
C. Claim Reserves and Liabilities:1. Total current year.................................................................................................................. .........................1,022,042,678 ...............................................0 ...............................66,688,750 .............................952,677,002 .................................2,676,926 ...............................................0 ...............................................02. Total prior year....................................................................................................................... .........................1,006,609,552 .................................................. ...............................72,961,186 .............................930,555,881 .................................3,092,484 .................................................. ..................................................3. Increase................................................................................................................................. ...............................15,433,126 ...............................................0 ...............................(6,272,436) ...............................22,121,121 ...................................(415,558) ...............................................0 ...............................................0
PART 3 - TEST OF PRIOR YEAR'S CLAIM RESERVES AND LIABILITIES1. Claims Paid During the Year:
1.1 On claims incurred prior to current year.............................................................................. .............................264,691,807 .................................................. ...............................12,034,226 .............................252,245,057 ....................................412,524 .................................................. ..................................................1.2 On claims incurred during current year............................................................................... ...............................68,202,454 .................................................. ....................................755,385 ...............................66,263,446 .................................1,183,622 .................................................. ..................................................
2. Claim Reserves and Liabilities, December 31, Current Year:2.1 On claims incurred prior to current year.............................................................................. .............................689,117,927 .................................................. ...............................48,195,686 .............................638,599,736 .................................2,322,504 .................................................. ..................................................2.2 On claims incurred during current year............................................................................... .............................332,924,751 .................................................. ...............................18,493,063 .............................314,077,266 ....................................354,422 .................................................. ..................................................
3. Test:3.1 Line 1.1 plus 2.1.................................................................................................................. .............................953,809,734 ...............................................0 ...............................60,229,912 .............................890,844,793 .................................2,735,029 ...............................................0 ...............................................03.2 Claim reserves and liabilities, December 31, prior year..................................................... .........................1,006,609,552 .................................................. ...............................72,961,186 .............................930,555,881 .................................3,092,484 .................................................. ..................................................3.3 Line 3.1 minus Line 3.2....................................................................................................... .............................(52,799,818) ...............................................0 .............................(12,731,274) .............................(39,711,088) ...................................(357,456) ...............................................0 ...............................................0
PART 4 - REINSURANCEA. Reinsurance Assumed:
1. Premiums written................................................................................................................... ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................2. Premiums earned.................................................................................................................. ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................3. Incurred claims...................................................................................................................... ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................4. Commissions......................................................................................................................... ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................
B. Reinsurance Ceded:1. Premiums written................................................................................................................... ....................................169,159 .................................................. ....................................169,159 .................................................. .................................................. .................................................. ..................................................2. Premiums earned.................................................................................................................. ....................................169,159 .................................................. ....................................169,159 .................................................. .................................................. .................................................. ..................................................3. Incurred claims...................................................................................................................... ......................................23,305 .................................................. ......................................23,305 .................................................. .................................................. .................................................. ..................................................4. Commissions......................................................................................................................... ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................
(a) Includes $.....281,000,000 premium deficiency reserve.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
36
SCHEDULE H - PART 5 - HEALTH CLAIMS1 2 3 4
Medical Dental Other Total
A. Direct:
1. Incurred claims................................................................................... ..........................2,056,577 - ...................................... ......................346,294,115 ......................348,350,692
2. Beginning claim reserves and liabilities.............................................. ........................12,250,437 - ...................................... ......................994,709,149 ...................1,006,959,586
3. Ending claim reserves and liabilities.................................................. ..........................9,528,364 - ...................................... ...................1,012,833,203 ...................1,022,361,567
4. Claims paid......................................................................................... ..........................4,778,650 ........................................0 ......................328,170,061 ......................332,948,711
B. Assumed Reinsurance:
5. Incurred claims................................................................................... ........................................... ........................................... ........................................... ........................................0
6. Beginning claim reserves and liabilities.............................................. ........................................... ........................................... ........................................... ........................................0
7. Ending claim reserves and liabilities.................................................. ........................................... ........................................... ........................................... ........................................0
8. Claims paid......................................................................................... ........................................0 ........................................0 ........................................0 ........................................0
C. Ceded Reinsurance:
9. Incurred claims................................................................................... ........................................... ........................................... ...............................23,305 ...............................23,305
10. Beginning claim reserves and liabilities.............................................. ........................................... ........................................... .............................350,034 .............................350,034
11. Ending claim reserves and liabilities.................................................. ........................................... ........................................... .............................318,889 .............................318,889
12. Claims paid......................................................................................... ........................................0 ........................................0 ...............................54,450 ...............................54,450
D. Net:
13. Incurred claims................................................................................... ..........................2,056,577 ........................................0 ......................346,270,810 ......................348,327,387
14. Beginning claim reserves and liabilities.............................................. ........................12,250,437 ........................................0 ......................994,359,115 ...................1,006,609,552
15. Ending claim reserves and liabilities.................................................. ..........................9,528,364 ........................................0 ...................1,012,514,313 ...................1,022,042,678
16. Claims paid......................................................................................... ..........................4,778,650 ........................................0 ......................328,115,611 ......................332,894,261
E. Net Incurred Claims and Cost Containment Expenses:
17. Incurred claims and cost containment expenses............................... ..........................2,056,577 - ...................................... ......................349,581,319 ......................351,637,896
18. Beginning reserves and liabilities....................................................... ........................12,250,437 - ...................................... ......................994,518,897 ...................1,006,769,334
19. Ending reserves and liabilities............................................................ ..........................9,528,364 - ...................................... ...................1,012,776,443 ...................1,022,304,808
20. Paid claims and cost containment expenses..................................... ..........................4,778,650 ........................................0 ......................331,323,772 ......................336,102,422
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
37, 38
Sch. S - Pt. 1 - Sn. 1NONE
Sch. S - Pt. 1 - Sn. 2NONE
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
39
SCHEDULE S - PART 2Reinsurance Recoverable on Paid and Unpaid Losses Listed by Reinsuring Company as of December 31, Current Year
1 2 3 4 5 6 7NAIC
Company ID Effective DomiciliaryCode Number Date Name of Company Jurisdiction Paid Losses Unpaid Losses
Life and Annuity - Non-Affiliates - U.S. Non-Affiliates86258......... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................................... CT................... ....................100,204 ....................183,98865676......... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................................... IN.................... ....................250,583 ....................599,10988099......... 75-1608507.... 02/01/2015 Optimum Re Insurance Company............................................................................................ TX................... .................................. ..................................93572......... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................................... MO.................. ....................264,616 .................1,027,62764688......... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................................... DE.................. ....................238,230 .................1,586,25082627......... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................................... CT................... ....................155,436 ....................886,76770688......... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................................. NY.................. .................1,525,863 .................2,826,546
0899999. Total - Life and Annuity Non-Affiliates - U.S. Non-Affiliates............................................................................................................................. .................2,534,932 .................7,110,2871099999. Total - Life and Annuity Non-Affiliates.............................................................................................................................................................. .................2,534,932 .................7,110,2871199999. Total - Life and Annuity.................................................................................................................................................................................... .................2,534,932 .................7,110,287
Accident and Health - Non-Affiliates - U.S. Non-Affiliates67598......... 04-1768571.... 07/01/1980 Paul Revere Life Insurance Company...................................................................................... TN................... .................................. ........................2,36082627......... 06-0839705.... 09/01/1970 Swiss Re Life & Health America Inc......................................................................................... CT................... .................................. ..................................66346......... 58-0828824.... 01/01/1999 Munich American Reinsurance CO.......................................................................................... GA.................. .................................. ..................................
1999999. Total - Accident and Health Non-Affiliates - U.S. Non-Affiliates....................................................................................................................... ...............................0 ........................2,3602199999. Total - Accident and Health Non-Affiliates........................................................................................................................................................ ...............................0 ........................2,3602299999. Total - Accident and Health.............................................................................................................................................................................. ...............................0 ........................2,3602399999. Total U.S.......................................................................................................................................................................................................... .................2,534,932 .................7,112,6479999999. Total................................................................................................................................................................................................................. .................2,534,932 .................7,112,647
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
40
SCHEDULE S - PART 3 - SECTION 1Reinsurance Ceded Life Insurance, Annuities, Deposit Funds and Other Liabilities
Without Life or Disability Contingencies, and Related Benefits Listed by Reinsuring Company as of December 31, Current Year1 2 3 4 5 6 7 8 Reserve Credit Taken 11 Outstanding Surplus Relief 14 15
9 10 12 13 FundsNAIC Type of Type of Amount Modified Withheld
Company ID Effective Domiciliary Reinsurance Business In Force at Current Prior Current Prior Coinsurance UnderCode Number Date Name of Company Jurisdiction Ceded Ceded End of Year Year Year Premiums Year Year Reserve Coinsurance
General Account - Authorized - Non-Affiliates - U.S. Non-Affiliates61689..... 42-0175020.... 04/01/1994 Aviva Life and Annuity Company............................................................................. IA.............. YRT/I.......... OL................. ..........129,251,680 ...........55,582,768 ...........55,259,973 ..............1,537,652 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... OL................. ..........108,640,380 ................380,030 ................464,219 ..............1,730,161 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... AXXX............ ............22,801,663 ..................44,437 ..................38,980 .................227,258 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... XXXL............ ............10,327,499 ..................27,089 ..................49,756 .................110,087 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... OL................. ............................... .........................78 .......................134 ........................519 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... OL................. ............................... ................102,520 ..................96,769 .....................9,445 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... OL................. ..........188,914,602 ................401,473 ................413,287 ..............1,740,886 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... AXXX............ ............98,961,160 ..................47,062 ..................34,818 .................371,070 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... XXXL............ ............60,857,832 ..................70,893 ................128,033 ...................94,123 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... OL................. ............................... .......................133 .......................146 ........................700 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... OL................. ............................... ................140,759 ..................57,416 .....................9,466 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/2000 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... XXXL............ .......1,719,366,643 ...........12,404,820 ...........14,095,123 ..............2,741,496 .............................. .............................. .............................. ..............................66583..... 39-0493780.... 01/01/2015 National Guardian Life.............................................................................................. WI............. YRT/I.......... OL................. ............15,793,087 ...........12,005,743 .............6,801,738 ..............7,843,709 .............................. .............................. .............................. ..............................88099..... 75-1608507.... 02/01/2015 Optimum Re Insurance Group................................................................................. TX............. YRT/I.......... OL................. ..............4,742,692 ..................44,865 ..................39,788 ...................94,873 .............................. .............................. .............................. ..............................88099..... 75-1608507.... 02/01/2015 Optimum Re Insurance Group................................................................................. TX............. YRT/I.......... XXXL............ ..............4,760,000 ..................24,253 ..................22,019 ...................51,512 .............................. .............................. .............................. ..............................88099..... 75-1608507.... 02/01/2015 Optimum Re Insurance Group................................................................................. TX............. YRT/I.......... OL................. ............................... ....................7,135 ....................6,584 ........................113 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... OL................. ..........303,964,761 ................608,627 ................563,167 ..............2,693,703 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... AXXX............ ..........229,177,967 ................270,019 ................238,058 .................877,178 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... XXXL............ ..........157,632,818 ................384,863 ................306,816 .................315,228 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... OL................. ............................... .........................38 .........................54 ........................289 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... OL................. ............................... ..................81,344 ..................76,655 ...................11,941 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/2003 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... XXXL............ .......5,637,934,201 ...........58,849,332 ...........52,525,980 ............10,545,081 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................... DE............ YRT/I.......... OL................. ..........136,958,441 ..................20,712 ..................11,100 .................124,681 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................... DE............ YRT/I.......... AXXX............ ..........226,672,275 ..................14,773 ....................7,160 ...................93,498 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................... DE............ YRT/I.......... XXXL............ .....18,345,398,540 .........110,781,570 ...........73,445,436 ............31,511,764 .............................. .............................. .............................. ..............................68713..... 84-0499703.... 03/01/2003 Security Life of Denver............................................................................................. CO............ YRT/I.......... OL................. ..............1,905,000 ....................5,394 ....................5,652 ...................18,745 .............................. .............................. .............................. ..............................68713..... 84-0499703.... 03/01/2003 Security Life of Denver............................................................................................. CO............ YRT/I.......... XXXL............ ..............3,247,060 ....................1,203 ....................1,037 .....................8,896 .............................. .............................. .............................. ..............................68713..... 84-0499703.... 03/01/2003 Security Life of Denver............................................................................................. CO............ YRT/I.......... AXXX............ .................100,000 .........................53 .........................24 ........................661 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... OL................. ..........251,044,172 ................128,254 ................118,221 .................827,442 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... AXXX............ ..........226,152,287 ................130,293 ................100,654 .................395,272 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... XXXL............ ..........147,268,770 ..................89,170 ..................54,918 ...................18,229 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... OL................. ............................... ................192,311 ................184,100 .....................3,530 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 06/01/2006 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... XXXL............ .......4,678,256,478 ...........50,000,203 ...........44,014,255 ..............9,072,852 .............................. .............................. .............................. ..............................70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... OL................. ..........479,263,137 ................101,503 ..................84,976 ..............1,329,628 .............................. .............................. .............................. ..............................70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... AXXX............ ..........754,401,459 ................158,583 ................121,885 ..............1,096,031 .............................. .............................. .............................. ..............................70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... XXXL............ ..........188,022,625 ................116,931 ..................82,326 ............................... .............................. .............................. .............................. ..............................70688..... 36-6071399.... 01/01/2003 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... XXXL............ .....25,686,479,876 .........386,151,832 .........371,017,760 ............43,541,786 .............................. .............................. .............................. ..............................
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
40.1
SCHEDULE S - PART 3 - SECTION 1Reinsurance Ceded Life Insurance, Annuities, Deposit Funds and Other Liabilities
Without Life or Disability Contingencies, and Related Benefits Listed by Reinsuring Company as of December 31, Current Year1 2 3 4 5 6 7 8 Reserve Credit Taken 11 Outstanding Surplus Relief 14 15
9 10 12 13 FundsNAIC Type of Type of Amount Modified Withheld
Company ID Effective Domiciliary Reinsurance Business In Force at Current Prior Current Prior Coinsurance UnderCode Number Date Name of Company Jurisdiction Ceded Ceded End of Year Year Year Premiums Year Year Reserve Coinsurance
0899999. Total - General Account - Authorized - Non-Affiliates - U.S. Non-Affiliates............................................................ ............................................................... .....59,818,297,105 .........689,371,066 .........620,469,017 ..........119,049,505 ...........................0 ...........................0 ...........................0 ...........................01099999. Total - General Account - Authorized - Non-Affiliates............................................................................................ ............................................................... .....59,818,297,105 .........689,371,066 .........620,469,017 ..........119,049,505 ...........................0 ...........................0 ...........................0 ...........................01199999. Total - General Account - Authorized..................................................................................................................... ............................................................... .....59,818,297,105 .........689,371,066 .........620,469,017 ..........119,049,505 ...........................0 ...........................0 ...........................0 ...........................03499999. Total - General Account - Authorized, Unauthorized and Certified........................................................................ ............................................................... .....59,818,297,105 .........689,371,066 .........620,469,017 ..........119,049,505 ...........................0 ...........................0 ...........................0 ...........................06999999. Total U.S................................................................................................................................................................ ............................................................... .....59,818,297,105 .........689,371,066 .........620,469,017 ..........119,049,505 ...........................0 ...........................0 ...........................0 ...........................09999999. Total....................................................................................................................................................................... ............................................................... .....59,818,297,105 .........689,371,066 .........620,469,017 ..........119,049,505 ...........................0 ...........................0 ...........................0 ...........................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
41
SCHEDULE S - PART 3 - SECTION 2Reinsurance Ceded Accident and Health Insurance Listed by Reinsuring Company as of December 31, Current Year
1 2 3 4 5 6 7 8 9 10 Outstanding Surplus Relief 13 14Reserve Credit 11 12 Funds
NAIC Type of Type of Unearned Taken Other Than Modified WithheldCompany ID Effective Domiciliary Reinsurance Business Premiums for Unearned Current Prior Coinsurance Under
Code Number Date Name of Company Jurisdiction Ceded Ceded Premiums (Estimated) Premiums Year Year Reserve CoinsuranceGeneral Account - Authorized - Non-Affiliates - U.S. Non-Affiliates67598..... 04-1768571.... .07/01/1980 Paul Revere Life Insurance Company...................................................................................................... TN............. YRT/I.......... LTDI.......... ............................... ............................... .................316,708 ............................... ............................... ............................... ...............................82627..... 06-0839705.... .09/01/1970 Swiss Re Life & Health America Inc......................................................................................................... CT............. YRT/I.......... LTDI.......... .................169,159 ............................... .................228,882 ............................... ............................... ............................... ...............................0899999. Total - General Account - Authorized - Non-Affiliates - U.S. Non-Affiliates.............................................................................................. ........................................................... .................169,159 ............................0 .................545,590 ............................0 ............................0 ............................0 ............................01099999. Total - General Account - Authorized - Non-Affiliates.............................................................................................................................. ........................................................... .................169,159 ............................0 .................545,590 ............................0 ............................0 ............................0 ............................01199999. Total - General Account - Authorized....................................................................................................................................................... ........................................................... .................169,159 ............................0 .................545,590 ............................0 ............................0 ............................0 ............................03499999. Total - General Account - Authorized, Unauthorized and Certified.......................................................................................................... ........................................................... .................169,159 ............................0 .................545,590 ............................0 ............................0 ............................0 ............................06999999. Total - U.S................................................................................................................................................................................................ ........................................................... .................169,159 ............................0 .................545,590 ............................0 ............................0 ............................0 ............................09999999. Total......................................................................................................................................................................................................... ........................................................... .................169,159 ............................0 .................545,590 ............................0 ............................0 ............................0 ............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
42, 43
Sch. S - Pt. 4NONE
Sch. S - Pt. 5NONE
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
44
SCHEDULE S - PART 6Five-Year Exhibit of Reinsurance Ceded Business
(000 OMITTED)1 2 3 4 5
2016 2015 2014 2013 2012
A. OPERATIONS ITEMS
1. Premiums and annuity considerations for life and accident andhealth contracts........................................................................................................ ..................119,219 ..................111,908 ....................96,103 ....................89,685 ....................84,170
2. Commissions and reinsurance expense allowances................................................ ....................27,813 ....................26,544 ....................24,542 ....................22,862 ....................21,971
3. Contract claims......................................................................................................... ....................49,847 ....................35,448 ....................49,733 ....................38,125 ....................33,623
4. Surrender benefits and withdrawals for life contracts............................................... ................................ ................................ ................................ ................................ ................................
5. Refunds to members................................................................................................ ................................ ................................ ................................ ................................ ................................
6. Reserve adjustments on reinsurance ceded............................................................ ................................ ................................ ................................ ................................ ................................
7. Increase in aggregate reserves for life and accident and health contracts.............. .............68,845,119 ....................67,169 ....................63,618 ....................60,628 ....................57,959
B. BALANCE SHEET ITEMS
8. Premiums and annuity considerations for life and accident andhealth contracts deferred and uncollected............................................................... ....................80,514 ....................71,532 ....................66,025 ....................60,078 ....................55,029
9. Aggregate reserves for life and accident and health contracts................................ ..................689,917 ..................621,072 ..................553,902 ..................490,109 ..................429,481
10. Liability for deposit-type contracts............................................................................ ................................ ................................ ................................ ................................ ................................
11. Contract claims unpaid............................................................................................. ......................7,113 ......................4,655 ......................5,307 ......................8,151 ......................5,907
12. Amounts recoverable on reinsurance....................................................................... ......................2,535 ......................3,599 ......................5,788 .........................541 ......................5,080
13. Experience rating refunds due or unpaid................................................................. ................................ ................................ ................................ ................................ ................................
14. Refunds to members (not included in Line 10)......................................................... ................................ ................................ ................................ ................................ ................................
15. Commissions and reinsurance expense allowances due......................................... ................................ ................................ ................................ ................................ ................................
16. Unauthorized reinsurance offset.............................................................................. ................................ ................................ ................................ ................................ ................................
17. Offset for reinsurance with certified reinsurers......................................................... ................................ ................................ ................................ ................................ ................................
C. UNAUTHORIZED REINSURANCE(DEPOSITS BY AND FUNDS WITHHELD FROM)
18. Funds deposited by and withheld from (F)............................................................... ................................ ................................ ................................ ................................ ................................
19. Letters of credit (L)................................................................................................... ................................ ................................ ................................ ................................ ................................
20. Trust agreements (T)................................................................................................ ................................ ................................ ................................ ................................ ................................
21. Other (O).................................................................................................................. ................................ ................................ ................................ ................................ ................................
D. REINSURANCE WITH CERTIFIED REINSURERS(DEPOSITS BY AND FUNDS WITHHELD FROM)
22. Multiple beneficiary trust........................................................................................... ................................ ................................ ................................ ................................ ................................
23. Funds deposited by and withheld from (F)............................................................... ................................ ................................ ................................ ................................ ................................
24. Letters of credit (L)................................................................................................... ................................ ................................ ................................ ................................ ................................
25. Trust agreements (T)................................................................................................ ................................ ................................ ................................ ................................ ................................
26. Other (O).................................................................................................................. ................................ ................................ ................................ ................................ ................................
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
45
SCHEDULE S - PART 7Restatement of Balance Sheet to Identify Net Credit for Ceded Reinsurance
1 2 3As Reported Restatement Restated
(Net of Ceded) Adjustments (Gross of Ceded)
ASSETS (Page 2, Col. 3)
1. Cash and invested assets (Line 12)....................................................................................... .........................57,516,038,593 ................................................... .........................57,516,038,593
2. Reinsurance (Line 16)............................................................................................................ ..................................2,534,931 .................................(2,534,932) ...............................................(1)
3. Premiums and considerations (Line 15)................................................................................. ..............................125,305,438 ................................80,513,871 ..............................205,819,309
4. Net credit for ceded reinsurance............................................................................................ .................XXX........................... ..............................619,050,365 ..............................619,050,365
5. All other admitted assets (balance)........................................................................................ ..............................471,952,062 ................................................... ..............................471,952,062
6. Total assets excluding Separate Accounts (Line 26)............................................................. .........................58,115,831,024 ..............................697,029,304 .........................58,812,860,328
7. Separate Account assets (Line 27)........................................................................................ .........................26,717,705,243 ................................................... .........................26,717,705,243
8. Total assets (Line 28)............................................................................................................. .........................84,833,536,267 ..............................697,029,304 .........................85,530,565,571
LIABILITIES, SURPLUS AND OTHER FUNDS (Page 3)
9. Contract reserves (Lines 1 and 2).......................................................................................... .........................44,026,420,580 ..............................689,916,657 .........................44,716,337,237
10. Liability for deposit-type contracts (Line 3)............................................................................. ...........................3,272,027,273 ................................................... ...........................3,272,027,273
11. Claim reserves (Line 4).......................................................................................................... ..............................295,692,353 ..................................7,112,647 ..............................302,805,000
12. Member refunds/reserves (Lines 5 through 6)....................................................................... ..............................317,685,146 ................................................... ..............................317,685,146
13. Premium & annuity considerations received in advance (Line 7)........................................... ................................15,464,039 ................................................... ................................15,464,039
14. Other contract liabilities (Line 8)............................................................................................. ..............................416,344,286 ................................................... ..............................416,344,286
15. Reinsurance in unauthorized companies (Line 21.2 minus inset amount)............................. ................................................... ................................................... ................................................0
16. Funds held under reinsurance with unauthorized reinsurance (Line 21.3minus inset amount)............................................................................................................... ................................................... ................................................... ................................................0
17. Reinsurance with certified reinsurers (Line 24.2 inset amount)............................................. ................................................... ................................................... ................................................0
18 Funds held under reinsurance treaties with certified reinsurers (Line 24.3 inset amount)..... ................................................... ................................................... ................................................0
19. All other liabilities (balance).................................................................................................... ...........................2,093,123,278 ................................................... ...........................2,093,123,278
20. Total liabilities excluding Separate Accounts (Line 23).......................................................... .........................50,436,756,955 ..............................697,029,304 .........................51,133,786,259
21. Separate Account liabilities (Line 24)..................................................................................... .........................26,671,165,389 ................................................... .........................26,671,165,389
22. Total liabilities (Line 25).......................................................................................................... .........................77,107,922,344 ..............................697,029,304 .........................77,804,951,648
23. Capital & surplus (Line 30)..................................................................................................... ...........................7,725,613,924 ..................XXX.......................... ...........................7,725,613,924
24. Total liabilities, capital & surplus (Line 31)............................................................................. .........................84,833,536,268 ..............................697,029,304 .........................85,530,565,572
NET CREDIT FOR CEDED REINSURANCE
25. Contract reserves................................................................................................................... ..............................689,916,657
26. Claim reserves....................................................................................................................... ..................................7,112,647
27. Member refunds/reserves...................................................................................................... ................................................0
28. Premium & annuity considerations received in advance........................................................ ................................................0
29. Liability for deposit-type contracts.......................................................................................... ................................................0
30. Other contract liabilities.......................................................................................................... ................................................0
31. Reinsurance ceded assets..................................................................................................... ..................................2,534,932
32. Other ceded reinsurance recoverables.................................................................................. ................................................0
33. Total ceded reinsurance recoverables................................................................................... ..............................699,564,236
34. Premiums and considerations................................................................................................ ................................80,513,871
35. Reinsurance in unauthorized companies............................................................................... ................................................0
36. Funds held under reinsurance treaties with unauthorized reinsurers..................................... ................................................0
37. Reinsurance with certified reinsurers..................................................................................... ................................................0
38. Funds held under reinsurance treaties with certified reinsurers............................................. ................................................0
39. Other ceded reinsurance payables/offsets............................................................................. ................................................0
40. Total ceded reinsurance payables/offsets.............................................................................. ................................80,513,871
41. Total net credit for ceded reinsurance.................................................................................... ..............................619,050,365
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
46
SCHEDULE T - PREMIUMS AND ANNUITY CONSIDERATIONSAllocated by States and Territories
1 Direct BusinessLife Contracts 4 5 6 7
2 3 Accident and HealthInsurance Premiums, Total
Active Life Insurance Annuity Including Policy, Mem- Other Columns Deposit-TypeStates, Etc. Status Premiums Considerations bership and Other Fees Considerations 2 through 5 Contracts
1. Alabama.......................................................................AL ....L......... ............3,932,028 ..........13,675,274 ........................822,373 ........................... ..........18,429,676 ...............40,0002. Alaska..........................................................................AK ....L......... ............2,337,978 ............4,077,685 ........................365,807 ........................... ............6,781,470 ...........................3. Arizona.........................................................................AZ ....L......... ..........27,470,814 ..........77,323,320 .....................5,485,615 ........................... ........110,279,750 .............186,7394. Arkansas.....................................................................AR ....L......... ............7,744,225 ..........24,247,733 .....................1,143,714 ........................... ..........33,135,672 .............217,7065. California.....................................................................CA ....L......... ..........86,726,688 ........226,927,003 ...................14,082,755 ........................... ........327,736,446 ..........1,031,5826. Colorado.....................................................................CO ....L......... ..........36,458,911 ..........83,273,141 .....................9,141,921 ........................... ........128,873,973 .............621,1977. Connecticut..................................................................CT ....L......... ............6,395,656 ..........20,865,941 .....................1,224,552 ........................... ..........28,486,148 ...........................8. Delaware.....................................................................DE ....L......... ............1,747,543 ............5,898,699 ........................283,700 ........................... ............7,929,941 ...........................9. District of Columbia.....................................................DC ....L......... ...............362,144 ...............746,949 ..........................87,456 ........................... ............1,196,548 ...........................10. Florida..........................................................................FL ....L......... ..........35,153,646 ........108,618,919 .....................7,395,324 ........................... ........151,167,889 .............252,73011. Georgia.......................................................................GA ....L......... ..........11,909,545 ..........25,126,899 .....................2,093,241 ........................... ..........39,129,685 ...........................12. Hawaii...........................................................................HI ....L......... ...............757,611 ............2,668,838 ........................146,347 ........................... ............3,572,797 ...........................13. Idaho.............................................................................ID ....L......... ............7,684,635 ..........22,994,399 .....................1,733,604 ........................... ..........32,412,638 ...............61,23914. Illinois............................................................................IL ....L......... ..........83,583,331 ........189,616,796 ...................21,710,935 ........................... ........294,911,062 .............466,76315. Indiana..........................................................................IN ....L......... ..........29,142,744 ..........68,844,560 .....................9,517,098 ........................... ........107,504,402 .............567,95516. Iowa..............................................................................IA ....L......... ..........63,253,515 ........123,716,988 ...................17,128,377 ........................... ........204,098,880 .............637,51517. Kansas.........................................................................KS ....L......... ..........18,488,585 ..........36,880,572 .....................6,433,889 ........................... ..........61,803,046 ...........................18. Kentucky......................................................................KY ....L......... ............3,558,275 ............9,668,543 ........................901,169 ........................... ..........14,127,986 ...........................19. Louisiana......................................................................LA ....L......... ............3,298,273 ............7,137,040 ........................663,460 ........................... ..........11,098,772 ...........................20. Maine..........................................................................ME ....L......... ...............713,774 ............3,693,627 ........................115,376 ........................... ............4,522,778 ...........................21. Maryland.....................................................................MD ....L......... ..........14,382,361 ..........28,395,191 .....................2,982,665 ........................... ..........45,760,217 .............160,00022. Massachusetts............................................................MA ....L......... ............5,621,848 ..........18,627,803 ........................784,990 ........................... ..........25,034,640 ...........................23. Michigan.......................................................................MI ....L......... ..........58,972,431 ........206,427,931 ...................11,195,329 ........................... ........276,595,692 .............159,62524. Minnesota...................................................................MN ....L......... ........171,419,413 ........499,357,433 ...................31,863,986 ........................... ........702,640,832 ..........1,360,55725. Mississippi...................................................................MS ....L......... ............1,342,994 ............2,969,648 ........................278,893 ........................... ............4,591,535 .............446,25326. Missouri......................................................................MO ....L......... ..........44,215,019 ........103,238,739 ...................10,995,632 ........................... ........158,449,390 .............391,41527. Montana......................................................................MT ....L......... ..........15,681,393 ..........31,763,535 .....................4,948,753 ........................... ..........52,393,681 ...............59,26628. Nebraska.....................................................................NE ....L......... ..........49,105,781 ..........87,658,265 ...................19,386,583 ........................... ........156,150,629 .............126,50029. Nevada........................................................................NV ....L......... ............6,424,123 ..........16,280,683 .....................1,003,836 ........................... ..........23,708,642 ...........................30. New Hampshire...........................................................NH ....L......... ............1,231,102 ............4,478,513 ........................267,352 ........................... ............5,976,967 ...........................31. New Jersey..................................................................NJ ....L......... ..........13,033,975 ..........38,090,321 .....................2,868,191 ........................... ..........53,992,487 .............242,77132. New Mexico................................................................NM ....L......... ............2,812,347 ............4,613,713 ........................583,120 ........................... ............8,009,180 ...........................33. New York.....................................................................NY ....L......... ..........30,100,219 ..........60,387,980 .....................1,275,327 ........................... ..........91,763,526 .............242,33834. North Carolina.............................................................NC ....L......... ..........24,091,135 ..........62,248,260 .....................6,077,734 ........................... ..........92,417,128 .............312,00035. North Dakota...............................................................ND ....L......... ..........35,181,599 ..........70,829,137 .....................8,438,100 ........................... ........114,448,836 .............438,59036. Ohio............................................................................OH ....L......... ..........52,286,582 ........131,793,450 ...................13,360,730 ........................... ........197,440,763 .............793,37437. Oklahoma....................................................................OK ....L......... ............9,163,900 ..........23,368,458 .....................2,117,870 ........................... ..........34,650,228 ...........................38. Oregon........................................................................OR ....L......... ..........16,248,527 ..........38,855,568 .....................3,431,473 ........................... ..........58,535,568 .............262,20739. Pennsylvania...............................................................PA ....L......... ..........68,672,374 ........192,343,976 ...................15,053,154 ........................... ........276,069,503 .............879,39740. Rhode Island.................................................................RI ....L......... ............1,043,024 ............3,954,879 ........................125,761 ........................... ............5,123,664 ...........................41. South Carolina.............................................................SC ....L......... ..........10,503,298 ..........27,231,098 .....................2,885,072 ........................... ..........40,619,468 ...............45,00042. South Dakota...............................................................SD ....L......... ..........34,267,317 ..........54,353,666 ...................10,229,230 ........................... ..........98,850,213 .............341,10243. Tennessee...................................................................TN ....L......... ............9,966,411 ..........40,318,558 .....................2,196,508 ........................... ..........52,481,477 ...........................44. Texas...........................................................................TX ....L......... ..........61,255,893 ........126,511,827 ...................16,631,278 ........................... ........204,398,997 .............931,73945. Utah.............................................................................UT ....L......... ............2,363,254 ............7,806,778 ........................441,345 ........................... ..........10,611,377 ...........................46. Vermont.......................................................................VT ....L......... ...............343,319 ............1,823,989 ..........................41,228 ........................... ............2,208,536 ...........................47. Virginia.........................................................................VA ....L......... ..........16,323,730 ..........30,395,322 .....................3,737,378 ........................... ..........50,456,430 .............202,56848. Washington.................................................................WA ....L......... ..........42,920,890 ........108,559,601 .....................8,478,955 ........................... ........159,959,446 ..........2,693,87949. West Virginia..............................................................WV ....L......... ............1,839,707 ............3,658,451 ........................371,227 ........................... ............5,869,385 ...........................50. Wisconsin.....................................................................WI ....L......... ........165,449,660 ........477,971,276 ...................34,878,950 ........................... ........678,299,885 ..........1,847,95651. Wyoming.....................................................................WY ....L......... ............6,120,130 ..........11,143,136 .....................2,315,118 ........................... ..........19,578,384 ...............14,71152. American Samoa.........................................................AS ....N......... ......................314 ............................. ...................................... ........................... ......................314 ...........................53. Guam..........................................................................GU ....N......... ...................1,094 ............................. ...................................... ........................... ...................1,094 ...........................54. Puerto Rico..................................................................PR ....N......... ...................1,663 ............................. ...................................... ........................... ...................1,663 ...........................55. US Virgin Islands..........................................................VI ....N......... ...................2,476 ............................. ...................................... ........................... ...................2,476 ...........................56. Northern Mariana Islands............................................MP ....N......... ............................. ............................. ...................................... ........................... ..........................0 ...........................57. Canada.....................................................................CAN ....N......... .................45,943 ............................. ............................2,381 ........................... .................48,324 ...........................58. Aggregate Other Alien.................................................OT ....XXX.... ...............821,247 ...............191,384 ..........................34,283 ........................0 ............1,046,914 ........................059. Subtotal............................................................................ (a)......51 .....1,403,976,412 .....3,571,651,492 .................319,759,147 ........................0 .....5,295,387,051 ........16,034,67390. Reporting entity contributions for employee benefit plans ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................91. Dividends or refunds applied to purchase paid-up
additions and annuities..................................................... ....XXX.... ........236,850,087 ............................. ...................................... ........................... ........236,850,087 ...........................92. Dividends or refunds applied to shorten endowment or
premium paying period..................................................... ....XXX.... ..........12,565,073 .................42,540 ...................................... ........................... ..........12,607,613 ...........................93. Premium or annuity considerations waived under
disability or other contract provisions............................... ....XXX.... ..........20,848,893 ............................. ...................................... ........................... ..........20,848,893 ...........................94. Aggregate other amounts not allocable by State............. ....XXX.... ..........................0 ..........................0 ...................................0 ........................0 ..........................0 ........................095. Totals (Direct Business)................................................... ....XXX.... .....1,674,240,465 .....3,571,694,032 .................319,759,147 ........................0 .....5,565,693,644 ........16,034,67396. Plus reinsurance assumed............................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................97. Totals (All Business)......................................................... ....XXX.... .....1,674,240,465 .....3,571,694,032 .................319,759,147 ........................0 .....5,565,693,644 ........16,034,67398. Less reinsurance ceded................................................... ....XXX.... ........110,067,631 ............................. ........................169,159 ........................... ........110,236,791 ...........................99. Totals (All Business) less reinsurance ceded................... ....XXX.... .....1,564,172,834 .....3,571,694,032 (b)............319,589,987 ........................0 .....5,455,456,853 ........16,034,673
DETAILS OF WRITE-INS58001. Other Alien....................................................................... ....XXX.... ...............821,247 ...............191,384 ..........................34,283 ........................... ............1,046,914 ...........................58002. ......................................................................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................58003. ......................................................................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................58998. Summ. of remaining write-ins for line 58 from overflow ....XXX.... ..........................0 ..........................0 ...................................0 ........................0 ..........................0 ........................058999. Total (Lines 58001 through 58003 plus 58998) (Line 58) ....XXX.... ...............821,247 ...............191,384 ..........................34,283 ........................0 ............1,046,914 ........................09401. ......................................................................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................9402. ......................................................................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................9403. ......................................................................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................9498. Summ. of remaining write-ins for line 94 from overflow ....XXX.... ..........................0 ..........................0 ...................................0 ........................0 ..........................0 ........................09499. Total (Lines 9401 through 9403 plus 9498) (Line 94 above)....XXX.... ..........................0 ..........................0 ...................................0 ........................0 ..........................0 ........................0(L) - Licensed or Chartered - Licensed Insurance Carrier or Domicilied RRG; (R) - Registered - Non-domiciled RRGs; (Q) - Qualified - Qualified or Accredited Reinsurer;(E) - Eligible - Reporting Entities eligible or approved to write Surplus Lines in the state; (N) - None of the above - Not allowed to write business in the state.
Explanation of basis of allocation by states, etc., of premiums and annuity considerationsPremiums are allocated to the state of residence of the policyholder at the time payments are collected by Thrivent Financial
(a) Insert the number of L responses except for Canada and Other Alien.(b) Column 4 should balance with Exhibit 1, Lines 6.4, 10.4 and 16.4, Col. 4 or with Schedule H, Part 1, Column 1, Line 1. Indicate which: Exhibit 1, Lines 6.4, 10.4 and 16.4, Col. 4
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
47
SCHEDULE T - PART 2INTERSTATE COMPACT - EXHIBIT OF PREMIUMS WRITTEN
Allocated by States and TerritoriesDirect Business Only
1 2 3 4 5 6Life Annuities Disability Income Long-Term Care
(Group and (Group and (Group and (Group and Deposit-TypeStates, Etc. Individual) Individual) Individual) Individual) Contracts Totals
1. Alabama.........................................................................................AL ............3,932,028 ..........13,675,274 ...............113,576 ...............620,224 .................40,000 ..........18,381,1012. Alaska.............................................................................................AK ............2,337,978 ............4,077,685 .................78,632 ...............284,856 .............................. ............6,779,1513. Arizona...........................................................................................AZ ..........27,470,814 ..........77,323,320 ...............689,182 ............3,568,944 ...............186,739 ........109,238,9994. Arkansas........................................................................................AR ............7,744,225 ..........24,247,733 ...............178,942 ...............759,754 ...............217,706 ..........33,148,3615. California........................................................................................CA ..........86,726,688 ........226,927,003 ............3,060,282 ............8,760,975 ............1,031,582 ........326,506,5306. Colorado........................................................................................CO ..........36,458,911 ..........83,273,141 ............1,161,229 ............5,590,522 ...............621,197 ........127,105,0007. Connecticut....................................................................................CT ............6,395,656 ..........20,865,941 ...............433,421 ...............784,579 .............................. ..........28,479,5978. Delaware........................................................................................DE ............1,747,543 ............5,898,699 .................34,236 ...............240,564 .............................. ............7,921,0429. District of Columbia.......................................................................DC ...............362,144 ...............746,949 .................36,390 .................47,127 .............................. ............1,192,61010. Florida.............................................................................................FL ..........35,153,646 ........108,618,919 ...............920,450 ............5,489,481 ...............252,730 ........150,435,22611. Georgia..........................................................................................GA ..........11,909,545 ..........25,126,899 ...............533,169 ............1,472,555 .............................. ..........39,042,16912. Hawaii..............................................................................................HI ...............757,611 ............2,668,838 .................35,562 ...............103,588 .............................. ............3,565,60013. Idaho................................................................................................ID ............7,684,635 ..........22,994,399 ...............168,907 ............1,166,913 .................61,239 ..........32,076,09214. Illinois...............................................................................................IL ..........83,583,331 ........189,616,796 ............2,591,903 ..........14,500,431 ...............466,763 ........290,759,22415. Indiana.............................................................................................IN ..........29,142,744 ..........68,844,560 ...............835,729 ............4,462,312 ...............567,955 ........103,853,30016. Iowa.................................................................................................IA ..........63,253,515 ........123,716,988 ............1,914,078 ..........11,006,687 ...............637,515 ........200,528,78317. Kansas...........................................................................................KS ..........18,488,585 ..........36,880,572 ...............583,806 ............3,076,386 .............................. ..........59,029,34818. Kentucky.........................................................................................KY ............3,558,275 ............9,668,543 ...............148,361 ...............584,660 .............................. ..........13,959,83919. Louisiana........................................................................................LA ............3,298,273 ............7,137,040 ...............116,951 ...............473,713 .............................. ..........11,025,97720. Maine.............................................................................................ME ...............713,774 ............3,693,627 .................31,649 .................81,899 .............................. ............4,520,94921. Maryland........................................................................................MD ..........14,382,361 ..........28,395,191 ...............699,192 ............1,755,373 ...............160,000 ..........45,392,11722. Massachusetts...............................................................................MA ............5,621,848 ..........18,627,803 ...............237,464 ...............532,520 .............................. ..........25,019,63623. Michigan..........................................................................................MI ..........58,972,431 ........206,427,931 ............1,967,550 ............7,414,085 ...............159,625 ........274,941,62224. Minnesota......................................................................................MN ........171,419,413 ........499,357,433 ............6,102,460 ..........24,807,844 ............1,360,557 ........703,047,70725. Mississippi.....................................................................................MS ............1,342,994 ............2,969,648 .................43,959 ...............191,993 ...............446,253 ............4,994,84726. Missouri.........................................................................................MO ..........44,215,019 ........103,238,739 ...............882,355 ............7,138,771 ...............391,415 ........155,866,29827. Montana.........................................................................................MT ..........15,681,393 ..........31,763,535 ...............344,289 ............2,700,709 .................59,266 ..........50,549,19328. Nebraska........................................................................................NE ..........49,105,781 ..........87,658,265 ...............949,009 ............8,586,512 ...............126,500 ........146,426,06829. Nevada...........................................................................................NV ............6,424,123 ..........16,280,683 ...............129,944 ...............633,764 .............................. ..........23,468,51430. New Hampshire.............................................................................NH ............1,231,102 ............4,478,513 .................64,178 ...............170,796 .............................. ............5,944,58831. New Jersey.....................................................................................NJ ..........13,033,975 ..........38,090,321 ...............552,226 ............2,273,756 ...............242,771 ..........54,193,04932. New Mexico...................................................................................NM ............2,812,347 ............4,613,713 .................96,949 ...............408,028 .............................. ............7,931,03733. New York.......................................................................................NY ..........30,100,219 ..........60,387,980 ...............576,087 ...............667,656 ...............242,338 ..........91,974,28034. North Carolina...............................................................................NC ..........24,091,135 ..........62,248,260 ...............896,843 ............3,728,201 ...............312,000 ..........91,276,43935. North Dakota..................................................................................ND ..........35,181,599 ..........70,829,137 ...............529,762 ............6,182,871 ...............438,590 ........113,161,95936. Ohio...............................................................................................OH ..........52,286,582 ........131,793,450 ............1,512,558 ............8,103,585 ...............793,374 ........194,489,54937. Oklahoma......................................................................................OK ............9,163,900 ..........23,368,458 ...............212,917 ............1,269,519 .............................. ..........34,014,79438. Oregon...........................................................................................OR ..........16,248,527 ..........38,855,568 ...............567,492 ............2,243,375 ...............262,207 ..........58,177,16839. Pennsylvania..................................................................................PA ..........68,672,374 ........192,343,976 ............2,695,060 ..........11,022,093 ...............879,397 ........275,612,90040. Rhode Island...................................................................................RI ............1,043,024 ............3,954,879 .................36,912 .................85,370 .............................. ............5,120,18541. South Carolina...............................................................................SC ..........10,503,298 ..........27,231,098 ...............307,487 ............2,105,677 .................45,000 ..........40,192,56142. South Dakota.................................................................................SD ..........34,267,317 ..........54,353,666 ...............876,336 ............6,449,559 ...............341,102 ..........96,287,98043. Tennessee.....................................................................................TN ............9,966,411 ..........40,318,558 ...............288,032 ............1,338,001 .............................. ..........51,911,00244. Texas..............................................................................................TX ..........61,255,893 ........126,511,827 ............1,674,470 ............9,876,163 ...............931,739 ........200,250,09245. Utah................................................................................................UT ............2,363,254 ............7,806,778 .................49,319 ...............376,322 .............................. ..........10,595,67346. Vermont..........................................................................................VT ...............343,319 ............1,823,989 .................13,889 .................27,340 .............................. ............2,208,53647. Virginia...........................................................................................VA ..........16,323,730 ..........30,395,322 ...............871,873 ............2,629,982 ...............202,568 ..........50,423,47548. Washington...................................................................................WA ..........42,920,890 ........108,559,601 ............1,500,252 ............6,792,225 ............2,693,879 ........162,466,84749. West Virginia.................................................................................WV ............1,839,707 ............3,658,451 .................69,436 ...............283,695 .............................. ............5,851,28950. Wisconsin.......................................................................................WI ........165,449,660 ........477,971,276 ............4,370,573 ..........18,823,409 ............1,847,956 ........668,462,87551. Wyoming.......................................................................................WY ............6,120,130 ..........11,143,136 ...............133,051 ...............985,802 .................14,711 ..........18,396,83052. American Samoa...........................................................................AS ......................314 .............................. .............................. .............................. .............................. ......................31453. Guam.............................................................................................GU ...................1,094 .............................. .............................. .............................. .............................. ...................1,09454. Puerto Rico....................................................................................PR ...................1,663 .............................. .............................. .............................. .............................. ...................1,66355. US Virgin Islands.............................................................................VI ...................2,476 .............................. .............................. .............................. .............................. ...................2,47656. Northern Mariana Islands..............................................................MP .............................. .............................. .............................. .............................. .............................. ..........................057. Canada........................................................................................CAN .................45,943 .............................. ...................2,381 .............................. .............................. .................48,32458. Aggregate Other Alien...................................................................OT ...............821,247 ...............191,384 .................20,643 .................12,840 .............................. ............1,046,11459. Totals................................................................................................... .....1,403,976,414 .....3,571,651,495 ..........42,941,403 ........202,694,006 ..........16,034,674 .....5,237,297,992
THRIVENT FINANCIAL FOR LUTHERANS
NAIC: 56014
FEIN: 39-0123480 WI
THRIVENT FINANCIAL
HOLDINGS INC.
THRIVENT FINANCIAL INVESTOR
SERVICES INC.
THRIVENT LIFE
INSURANCE COMPANY
NAIC: 97721
FEIN: 41-1437943 MN
THRIVENT
INVESTMENT MANAGEMENT
INC.
THRIVENT
TRUST COMPANY
NORTH
MEADOWS INVESTMENT
LTD.
20%
80%
THRIVENT
DISTRIBUTORS, LLC
NEWMAN FINANCIAL
SERVICES, LLC
PREPARE/ENRICH,
LLC
THRIVENT
FINANCIAL FOR LUTHERANS
FOUNDATION
NEWLIFE
INSURANCE AGENCY, LLC
THRIVENT ASSET
MANAGEMENT, LLC
THRIVENT
INSURANCE AGENCY INC.
THRIVENT WHITE
ROSE FUNDS* (See Page 2)
PACIFIC STREET
FUNDS** (See Page 2)
GOLD RING
HOLDINGS, LLC
50%
CULEARN, LLC
90%
RED HEART EDUCATION
FUNDING, LLC
THRIVENT MUTUAL
FUNDS
THRIVENT SERIES
FUND INC.
THRIVENT CASH MANAGEMENT
TRUST
THRIVENT CORE
FUNDS
Other Related Entities
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
48
THRIVENT FINANCIAL FOR LUTHERANS
NAIC: 56014
FEIN: 39-0123480 WI
* Thrivent White Rose Funds are organized as limited liability partnerships,
controlled by a single general partner. Each general partner is a limited
liability company. Here is a list of each general partner, along with the
respective funds under its control:
o White Rose GP I, LLC
o White Rose Fund I Equity Direct, L.P o White Rose Fund I Fund of Funds, L.P.
o White Rose Fund I Mezzanine Direct, L.P.
o Thrivent White Rose GP II, LLC
o Thrivent White Rose Fund II Equity Direct, L.P.
o Thrivent White Rose Fund II Fund of Funds, L.P.
o Thrivent White Rose Fund II Mezzanine Direct, L.P. o Thrivent White Rose GP III, LLC
o Thrivent White Rose Fund III Equity Direct, L.P. o Thrivent White Rose Fund III Fund of Funds, L.P.
o Thrivent White Rose Fund III Mezzanine Direct, L.P.
o Thrivent White Rose GP IV, LLC o Thrivent White Rose Fund IV Equity Direct, L.P.
o Thrivent White Rose Fund IV Fund of Funds, L.P.
o Thrivent White Rose Fund IV Mezzanine Direct, L.P. o Thrivent White Rose GP V, LLC
o Thrivent White Rose Fund V Equity Direct, L.P.
o Thrivent White Rose Fund V Fund of Funds, L.P. o Thrivent White Rose GP VI, LLC
o Thrivent White Rose Fund VI Equity Direct
o Thrivent White Rose Fund VI Fund of Funds o Thrivent White Rose GP VII, LLC
o Thrivent White Rose Fund VII Equity Direct, L.P.
o Thrivent White Rose Fund VII Fund of Funds, L.P. o White Rose Fund VII Equity Direct Corporation
o Thrivent White Rose GP VIII, LLC
o Thrivent White Rose Fund VIII Equity Direct, L.P. o Thrivent White Rose Fund VIII Fund of Funds, L.P.
o Thrivent White Rose GP IX, LLC
o Thrivent White Rose Fund IX Equity Direct, L.P. o White Rose IX Equity Direct Corporation
o Thrivent White Rose Fund IX Fund of Funds, L.P.
o Thrivent White Rose GP X, LLC o Thrivent White Rose Fund X Equity Direct, L.P.
o Thrivent White Rose Fund X Fund of Funds, L.P.
** Pacific Street Funds are organized as limited liability partnerships,
controlled bya single general partner. Each general partner is a limited
liability company that is managed and controlled by its managing member
Twin Bridge Capital Partners LLC. Here is a list of each general partner,
along with the respective funds under its control:
o Pacific Street GP, LLC
o Pacific Street Fund, L.P.
o Pacific Street GP II, LLC o Pacific Street Fund II, L.P.
o Pacific Street GP III, LLC
o Pacific Street Fund III, L.P.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
48.1
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
49
SCHEDULE YPART 1A - DETAIL OF INSURANCE HOLDING COMPANY SYSTEM
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16Name of Type of
Securities ControlExchange (Ownership Is anif Publicly Board, If Control is SCA
NAIC Traded Names of Relationship Management Ownership FilingGroup Group Company ID Federal (U.S. or Parent, Subsidiaries Domiciliary to Reporting Directly Controlled by Attorney-in-Fact, Provide Ultimate Controlling Required?Code Name Code Number RSSD CIK International) or Affiliates Location Entity (Name of Entity/Person) Influence, Other) Percentage Entity(ies)/Person(s) (Y/N) *Members2938 Thrivent Financial for Lutherans.... 56014... 39-0123480.. ................... ......314984 ........................ Thrivent Financial for Lutherans........................ WI............. RE................ ....................................................................... .......................... ................. ....................................................................... ......N...... ..................... Thrivent Financial for Lutherans.... ............. 39-1559369.. ................... ................... ........................ Thrivent Financial Holdings Inc......................... DE............ DS................ Thrivent Financial for Lutherans...................... Ownership......... ...100.000 ....................................................................... ......Y...... .............
2938 Thrivent Financial for Lutherans.... 97721... 41-1437943.. ................... ................... ........................ Thrivent Life Insurance Company..................... MN............ IA................. Thrivent Financial Holdings Inc....................... Ownership.........
Essentially100.00(except 5shares heldbydirectors) Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 39-1932303.. ....2745529 ....1083097 ........................ Thrivent Trust Company................................... WI............. DS................ Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......Y...... .............
........ Thrivent Financial for Lutherans.... ............. 39-1534368.. ................... ................... ........................ North Meadows Investment Ltd........................ WI............. DS................ Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......Y...... .............
........ Thrivent Financial for Lutherans.... ............. 25-1200088.. ................... ......817712 ........................ Thrivent Financial Investor Services Inc............ PA............ DS................ Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......Y...... .............
........ Thrivent Financial for Lutherans.... ............. 41-1780150.. ................... ................... ........................ Thrivent Insurance Agency Inc.......................... MN............ DS................ Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 39-1559375.. ................... ................... ........................ Thrivent Investment Management Inc............... DE............ DS................ Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 26-2521785.. ................... ....1346952 ........................ Thrivent Asset Management, LLC..................... DE............ DS................ Thrivent Financial Holdings Inc....................... Ownership......... .....80.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 26-2521785.. ................... ....1346952 ........................ Thrivent Asset Management, LLC..................... DE............ DS................ Thrivent Life Insurance Company................... Ownership......... .....20.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 47-3199809.. ................... ................... ........................ Thrivent Distributors, LLC................................. DE............ DS................ Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 47-4809568.. ……………. …………….………………….. PREPARE/ENRICH, LLC................................. DE............ OTH............. Thrivent Financial Holdings Inc....................... Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......Y...... .............
…………Thrivent Financial for Lutherans.... ……….. 41-1902733.. ……………. …………….………………….. Newman Financial Services, LLC..................... MN............ DS................ Thrivent Insurance Agency Inc........................ Ownership......... ….100.000 Thrivent Financial for Lutherans...................... ......N...... .............
…………Thrivent Financial for Lutherans.... ……….. 46-4081831.. ……………. …………….………………….. NewLife Insurance Agency, LLC....................... MN............ DS................ Newman Financial Services, LLC................... Ownership......... …..50.000. Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-1263566.. ................... ................... ........................ cuLearn, LLC.................................................... DE............ DS................ Thrivent Financial Holdings Inc....................... Ownership......... .....90.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 46-2037515.. ................... ................... ........................ Gold Ring Holdings, LLC.................................. DE............ DS................ Thrivent Financial for Lutherans...................... Ownership......... ...100.000 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-1538357.. ................... ................... ........................ Red Heart Education Funding, LLC.................. DE............ DS................ Thrivent Financial for Lutherans...................... Ownership......... ...100.000 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 30-0439087.. ................... ....1415351 ........................ White Rose Fund I Equity Direct, L.P. .............. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.307 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 30-0439082.. ................... ....1415352 ........................ White Rose Fund I Fund of Funds, L.P............. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.829 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 30-0439081.. ................... ....1415353 ........................ White Rose Fund I Mezzanine Direct, L.P........ DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.332 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 51-0659163.. ................... ....1425625 ........................ Thrivent White Rose Fund II Equity Direct, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.274 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 51-0659149.. ................... ....1425623 ........................Thrivent White Rose Fund II Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.831 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 51-0659201.. ................... ....1425624 ........................Thrivent White Rose Fund II Mezzanine Direct,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.339 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 26-3900532.. ................... ....1459014 ........................ Thrivent White Rose Fund III Equity Direct, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.269 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 26-3900624.. ................... ....1459015 ........................Thrivent White Rose Fund III Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.815 ....................................................................... ......N...... .............
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
49.1
SCHEDULE YPART 1A - DETAIL OF INSURANCE HOLDING COMPANY SYSTEM
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16Name of Type of
Securities ControlExchange (Ownership Is anif Publicly Board, If Control is SCA
NAIC Traded Names of Relationship Management Ownership FilingGroup Group Company ID Federal (U.S. or Parent, Subsidiaries Domiciliary to Reporting Directly Controlled by Attorney-in-Fact, Provide Ultimate Controlling Required?Code Name Code Number RSSD CIK International) or Affiliates Location Entity (Name of Entity/Person) Influence, Other) Percentage Entity(ies)/Person(s) (Y/N) *
........ Thrivent Financial for Lutherans.... ............. 26-3900714.. ................... ....1459078 ........................Thrivent White Rose Fund III Mezzanine Direct,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.336 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 27-4527323.. ................... ....1510309 ........................ Thrivent White Rose Fund IV Equity Direct, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....98.936 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 27-4527676.. ................... ....1510200 ........................Thrivent White Rose Fund IV Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.828 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 27-4527958.. ................... ....1510228 ........................Thrivent White Rose Fund IV MezzanineDirect, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.303 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 80-0773644.. ................... ....1539289 ........................ Thrivent White Rose Fund V Equity Direct, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.054 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 30-0712736.. ................... ....1539341 ........................Thrivent White Rose Fund V Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.820 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 36-4751484.. ................... ....1567198 ........................ Thrivent White Rose Fund VI Equity Direct, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....98.975 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 80-0884297.. ................... ....1567185 ........................Thrivent White Rose Fund VI Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.867 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 46-4500965.. …………..... ....1604036 …………….......Thrivent White Rose Fund VII Equity Direct,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....98.856 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 47-2591235.. ................... ................... ........................ White Rose Fund VII Equity Direct Corporation DE............ OTH.............Thrivent White Rose Fund VII Equity Direct,L.P. Ownership......... ...100.000 Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 46-4489978.. ……………. ....1604035 ………………....Thrivent White Rose Fund VII Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.831 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 47-2561485.. ................... ....1628462 ........................Thrivent White Rose Fund VIII Equity Direct,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....98.634 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 47-2565241.. ................... ....1628506 ........................Thrivent White Rose Fund VIII Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.680 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-0709375.. ................... ....1663375 ........................ Thrivent White Rose Fund IX Equity Direct LP.. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....98.620 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-4575314.. ................... ....1694529 ........................ Thrivent White Rose Fund X Equity Direct, L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....98.300 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-4560711.. ................... ....1694687 ........................Thrivent White Rose Fund X Fund of Funds,L.P. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.900 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-1927462.. ................... ................... ........................ White Rose IX Equity Direct Corporation.......... DE............ OTH.............Thrivent White Rose Fund IX Equity Direct,L.P.. Ownership......... ...100.000.. Thrivent Financial for Lutherans...................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 81-0725894.. ................... ....1663385 ........................Thrivent White Rose Fund IX Fund of FundsLP. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.880 ....................................................................... ......N...... .............
........ Thrivent Financial for Lutherans.... ............. 30-0439077.. ................... ................... ........................ White Rose GP I, LLC...................................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....75.000 ....................................................................... ......N...... **..........
........ Thrivent Financial for Lutherans.... ............. 51-0659063.. ................... ................... ........................ Thrivent White Rose GP II, LLC........................ DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....67.500 ....................................................................... ......N...... **..........
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
49.2
SCHEDULE YPART 1A - DETAIL OF INSURANCE HOLDING COMPANY SYSTEM
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16Name of Type of
Securities ControlExchange (Ownership Is anif Publicly Board, If Control is SCA
NAIC Traded Names of Relationship Management Ownership FilingGroup Group Company ID Federal (U.S. or Parent, Subsidiaries Domiciliary to Reporting Directly Controlled by Attorney-in-Fact, Provide Ultimate Controlling Required?Code Name Code Number RSSD CIK International) or Affiliates Location Entity (Name of Entity/Person) Influence, Other) Percentage Entity(ies)/Person(s) (Y/N) *........ Thrivent Financial for Lutherans.... ............. 26-3900402.. ................... ................... ........................ Thrivent White Rose GP III, LLC....................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....67.500 ....................................................................... ......N...... **.................. Thrivent Financial for Lutherans.... ............. 27-4524712.. ................... ................... ........................ Thrivent White Rose GP IV, LLC...................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....65.500 ....................................................................... ......N...... **.................. Thrivent Financial for Lutherans.... ............. 33-4719776.. ................... ................... ........................ Thrivent White Rose GP V, LLC....................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....64.000 ....................................................................... ......N...... **.................. Thrivent Financial for Lutherans.... ............. 46-1753069.. ................... ................... ........................ Thrivent White Rose GP VI, LLC...................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....30.000 ....................................................................... ......N...... **.................. Thrivent Financial for Lutherans.... ............. 46-4441354.. ................... ................... ........................ Thrivent White Rose GP VII, LLC..................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....30.000 ....................................................................... ......N...... **.................. Thrivent Financial for Lutherans.... ............. 47-2561356.. ................... ....1636128 ........................ Thrivent White Rose GP VIII, LLC.................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....25.000 ....................................................................... ......N...... *.................... Thrivent Financial for Lutherans.... ............. 81-0705471.. ................... ....1663440 ........................ Thrivent White Rose GP IX, LLC...................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....37.000 ....................................................................... ......N...... *.................... Thrivent Financial for Lutherans.... ............. 81-4594296.. ................... ....1694503 ........................ Thrivent White Rose GP X, LLC....................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....34.000 ....................................................................... ......N...... *.................... Thrivent Financial for Lutherans.... ............. 02-0755424.. ................... ................... ........................ Pacific Street Fund, L.P. .................................. DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.600 ....................................................................... ......N...... *.................... Thrivent Financial for Lutherans.... ............. 94-3436464.. ................... ....1444779 ........................ Pacific Street Fund II, L.P. ............................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.600 ....................................................................... ......N...... *.................... Thrivent Financial for Lutherans.... ............. 46-2898885.. ................... ....1599480 ........................ Pacific Street Fund III, L.P................................ DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....99.400 ....................................................................... ......N...... ***................. Thrivent Financial for Lutherans.... ............. 02-0755407.. ................... ................... ........................ Twin Bridge Capital Partners, LLC.................... DE............ OTH............. Thrivent Financial for Lutherans...................... Ownership......... .....49.000 ....................................................................... ......N...... **..........
…………Thrivent Financial for Lutherans.... ……….. 02-0755417.. ……………. …………….………………….. Pacific Street GP, LLC...................................... DE............ OTH............. Thrivent Financial for Lutherans...................... Management..... …….……0 …………………………………………............... ......N...... **..........
…………Thrivent Financial for Lutherans.... ……….. 94-3436461.. ……………. …………….………………….. Pacific Street GP II, LLC................................... DE............ OTH............. Thrivent Financial for Lutherans...................... Management..... ………….0 …………………………………………............... ......N...... **..........
…………Thrivent Financial for Lutherans.... ……….. 30-0785505.. ……………. ................... ........................ Pacific Street GP III, LLC.................................. DE............ OTH............. Thrivent Financial for Lutherans...................... Management..... ………….0 ....................................................................... ......N...... ..................... ..................................................... ............. 45-5527495.. ................... ......811869 ........................ Thrivent Mutual Fund........................................ MA............ ..................... ....................................................................... .......................... ………….0 ....................................................................... ......N...... ..................... ..................................................... ............. 46-0990187.. ................... ......790166 ........................ Thrivent Series Fund........................................ MN............ ..................... ....................................................................... .......................... ………….0 ....................................................................... ......N...... ..................... ..................................................... ............. ..................... ................... ....1669626 ........................ Thrivent Core Fund........................................... DE............ ..................... ....................................................................... .......................... ………….0 ....................................................................... ......N...... ..................... ..................................................... ............. 20-1467561.. ................... ....1300087 ........................ Thrivent Cash Management Trust..................... MA............ ..................... ....................................................................... .......................... ………….0 ....................................................................... ......N...... .............
Asterisk Explanation* Private Equity Fund** General Partner to Private Equity Funds*** Management Company to Private Equity Funds
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
50
SCHEDULE Y PART 2 - SUMMARY OF INSURER'S TRANSACTIONS WITH ANY AFFILIATES
1 2 3 4 5 6 7 8 9 10 11 12 13Income/
(Disbursements) Any Other ReinsurancePurchases, Sales Incurred in Material Activity Recoverable/or Exchanges of Connection with Management Income/ Not in the (Payable) on
Loans, Securities, Guarantees or Agreements (Disbursements) Ordinary Losses and/orNAIC Names of Insurers Real Estate, Undertakings and Incurred under Course of the Reserve Credit
Company ID and Parent, Subsidiaries Shareholder Capital Mortgage Loans or for the Benefit Service Reinsurance Insurer's Taken/Code Number or Affiliates Dividends Contributions Other Investments of any Affiliate(s) Contracts Agreements * Business Totals (Liability)
Affiliated Transactions56014.................. 39-0123480.............. Thrivent Financial for Lutherans............................................................... ..............765,234,383 .............(535,183,255) ................................... ................................... ................................... ................................... ....... .................................. .............230,051,128 .............................................................. 39-1559369.............. Thrivent Financial Holdings Inc................................................................ ..................1,500,000 ..................2,550,000 ................................... ................................... ................................... ................................... ....... .................................. .................4,050,000 .............................................................. 41-1780150.............. Thrivent Insurance Agency Inc................................................................. ................................... ....................(650,000) ................................... ................................... ................................... ................................... ....... .................................. ...................(650,000) .............................................................. 47-3199809.............. Thrivent Distributors, LLC......................................................................... ................................... ................10,000,000 ................................... ................................... ................................... ................................... ....... .................................. ...............10,000,000 .............................................................. 47-4809568.............. PREPARE/ENRICH, LLC......................................................................... .................(1,500,000) ................................... ................................... ................................... ................................... ................................... ....... .................................. ................(1,500,000) .............................................................. 41-1902733.............. Newman Financial Services, LLC............................................................ ................................... .....................650,000 ................................... ................................... ................................... ................................... ....... .................................. ....................650,000 .............................................................. 81-1263566.............. cuLearn, LLC............................................................................................ ................................... ..................3,450,000 ................................... ................................... ................................... ................................... ....... .................................. .................3,450,000 .............................................................. 46-2037515.............. Gold Ring Holdings, LLC.......................................................................... ................................... .......................13,122 ................................... ................................... ................................... ................................... ....... .................................. ......................13,122 .............................................................. 81-1538357.............. Red Heart Education Funding, LLC......................................................... ................................... ................10,600,000 ................................... ................................... ................................... ................................... ....... .................................. ...............10,600,000 .............................................................. ................................. Thrivent White Rose Funds Limited Partnerships.................................... .............(508,805,188) ..............370,698,892 ................................... ................................... ................................... ................................... ....... .................................. ............(138,106,296) .............................................................. ................................. Pacific Street Funds Limited Partnerships............................................... .............(256,429,195) ..............137,871,241 ................................... ................................... ................................... ................................... ....... .................................. ............(118,557,954) ..................................
9999999. Control Totals............................................................................................................................... ................................0 ................................0 ................................0 ................................0 ................................0 ................................0 XXX ...............................0 ...............................0 ...............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
51
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIESThe following supplemental reports are required to be filed as part of your statement filing unless specifically waived by the domiciliary state. However, in the event that your state ofdomicile waives the filing requirement, your response of WAIVED to the specific interrogatory will be accepted in lieu of filing a "NONE" report and a bar code will be printed below.If the supplement is required of your company but is not being filed for whatever reason enter SEE EXPLANATION and provide an explanation following the interrogatory questions.
MARCH FILING Responses1. Will the Supplemental Compensation Exhibit be filed with the state of domicile by March 1? YES2. Will the confidential Risk-Based Capital Report be filed with the NAIC by March 1? YES3. Will the confidential Risk-Based Capital Report be filed with the state of domicile, if required, by March 1? YES4. Will an actuarial opinion be filed with this statement by March 1? YES
APRIL FILING5. Will Management's Discussion and Analysis be filed by April 1? YES6. Will the Supplemental Investment Risk Interrogatories be filed by April 1? YES
JUNE FILING7. Will an audited financial report be filed by June 1? YES8. Will Accountants Letter of Qualifications be filed with the state of domicile and electronically with the NAIC by June 1? YES
AUGUST FILING9. Will the regulator only (non-public) Communication of Internal Control Related Matters Noted in Audit be filed with the state of domicile
and electronically with the NAIC (as a regulator-only non-public document) by August 1? SEE EXPLANATION
The following supplemental reports are required to be filed as part of your statement filing. However, in the event that your company does not transact the type ofbusiness for which the special report must be filed, your response of NO to the specific interrogatory will be accepted in lieu of filing a "NONE" report and a bar codewill be printed below. If the supplement is required of your company but is not being filed for whatever reason, enter SEE EXPLANATION and provide anexplanation following the interrogatory questions.
MARCH FILING10. Will the Medicare Supplement Insurance Experience Exhibit be filed with the state of domicile and the NAIC by March 1? YES11. Will the Trusteed Surplus Statement be filed with the state of domicile and the NAIC by March 1? NO12. Will the actuarial opinion on participating and non-participating policies as required in Interrogatories 1 and 2 to Exhibit 5 be filed with the state of domicile
and electronically with the NAIC by March 1? YES13. Will the statement on non-guaranteed elements as required in interrogatory #3 to Exhibit 5 be filed with the state of domicile and electronically with the
NAIC by March 1? YES14. Will the actuarial opinion on X-Factors be filed with the state of domicile and electronically with the NAIC by March 1? YES15. Will the actuarial opinion on Separate Accounts Funding Guaranteed Minimum Benefit be filed with the state of domicile and electronically with the NAIC by March 1? NO16. Will the actuarial opinion on Synthetic Guaranteed Investment Contracts be filed with the state of domicile and electronically with the NAIC by March 1? NO17. Will the Reasonableness of Assumptions Certification required by Actuarial Guideline XXXV be filed with the state of domicile and electronically with the NAIC
by March 1? NO18. Will the Reasonableness and Consistency of Assumptions Certification required by Actuarial Guideline XXXV be filed with the state of domicile and electronically
with the NAIC by March 1? YES19. Will the Reasonableness of Assumptions Certification for Implied Guaranteed Rate Method required by Actuarial Guideline XXXVI be filed with the state of
domicile and electronically with the NAIC by March 1? NO20. Will the Reasonableness and Consistency of Assumptions Certification required by Actuarial Guideline XXXVI (Updated Average Market Value) be filed with the
state of domicile and electronically with the NAIC by March 1? NO21. Will the Reasonableness and Consistency of Assumptions Certification required by Actuarial Guideline XXXVI (Updated Market Value) be filed with the state of
domicile and electronically with the NAIC by March 1? NO22. Will the C-3 RBC Certifications required under C-3 Phase I be filed with the state of domicile and electronically with the NAIC by March 1? YES23. Will the C-3 RBC Certifications required under C-3 Phase II be filed with the state of domicile and electronically with the NAIC by March 1? YES24. Will the Actuarial Certifications Related to Annuity Nonforfeiture Ongoing Compliance for Equity Indexed Annuities be filed with the state of domicile and
electronically with the NAIC by March 1? NO25. Will the actuarial opinion required by the Modified Guaranteed Annuity Model Regulation be filed with the state of domicile and electronically
with the NAIC by March 1? YES26. Will the Actuarial Certifications Related to Hedging required by Actuarial Guideline XLIII be filed with the state of domicile and electronically
with the NAIC by March 1? YES27. Will the Financial Officer Certification Related to Clearly Defined Hedging Strategy required by Actuarial Guideline XLIII be filed with the state
of domicile and electronically with the NAIC by March 1? YES28. Will the Management Certification that the Valuation Reflects Management's Intent required by Actuarial Guideline XLIII be filed with the state
of domicile and electronically with the NAIC by March 1? YES29. Will the Actuarial Certification Related to the Reserves required by Actuarial Guideline XLIII be filed with the state of domicile and electronically
with the NAIC by March 1? YES30. Will the Actuarial Certification regarding the use of 2001 Preferred Class Tables required by the Model Regulation Permitting the Recognition of Preferred
Mortality Tables for Use in Determining Minimum Reserve Liabilities be filed with the state of domicile and electronically with the NAIC by March 1? NO31. Will the Medicare Part D Coverage Supplement be filed with the state of domicile and the NAIC by March 1? NO32. Will an approval from the reporting entity's state of domicile for relief related to the five-year rotation requirement for lead audit partner be filed
electronically with the NAIC by March 1? NO33. Will an approval from the reporting entity's state of domicile for relief related to the one-year cooling off period for independent CPA be filed
electronically with the NAIC by March 1? NO34. Will an approval from the reporting entity's state of domicile for relief related to the Requirements for Audit Committees be filed electronically
with the NAIC by March 1? NO35. Will the confidential Regulatory Asset Adequacy Issues Summary (RAAIS) required by Actuarial Opinion and Memorandum Regulation
(Model 822), Section 7A(5), be filed with the state of domicile by March 15? YESAPRIL FILING
36. Will the Long-Term Care Experience Reporting Forms be filed with the state of domicile and the NAIC by April 1? YES37. Will the Interest-Sensitive Life Insurance Products Report Forms be filed with the state of domicile and the NAIC by April 1? YES38. Will the Accident and Health Policy Experience Exhibit be filed by April 1? YES39. Will the Analysis of Annuity Operations by Lines of Business be filed with the state of domicile and the NAIC by April 1? YES40. Will the Analysis of Increase in Annuity Reserves During the Year be filed with the state of domicile and the NAIC by April 1? YES41. Will the Supplemental Health Care Exhibit (Parts 1, 2 and 3) be filed with the state of domicile and the NAIC by April 1? WAIVED42. Will the regulator only (non-public) Supplemental Health Care Exhibit's Expense Allocation Report be filed with the state of domicile
and the NAIC by April 1? NO
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
51.1
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES43. Will the confidential Actuarial Memorandum required by Actuarial Guideline XXXVIII 8D be filed with the state of domicile by April 30? NO44. Will the Supplemental XXX/AXXX Reinsurance Exhibit be filed with the state of domicile and the NAIC by April 1? YES
AUGUST FILING45. Will Management's Report of Internal Control Over Financial Reporting be filed with the state of domicile by August 1? YES
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
51.2
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIESEXPLANATIONS: BARCODES:
1.
2.
3.
4.
5.
6.
7.
8.
9. There were no unremediated material weaknesses in Thrivent Financial's audit of internalcontrol over financial reporting. *56014201622200000*
10.
11. The data for this supplement is not required to be filed.*56014201649000000*
12.
13.
14.
15. The data for this supplement is not required to be filed.*56014201644300000*
16. The data for this supplement is not required to be filed.*56014201644400000*
17. The data for this supplement is not required to be filed.*56014201644500000*
18.
19. The data for this supplement is not required to be filed.*56014201644700000*
20. The data for this supplement is not required to be filed.*56014201644800000*
21. The data for this supplement is not required to be filed.*56014201644900000*
22.
23.
24. The data for this supplement is not required to be filed.*56014201645200000*
25.
26.
27.
28.
29.
30. The data for this supplement is not required to be filed.*56014201645400000*
31. The data for this supplement is not required to be filed.*56014201636500000*
32. The data for this supplement is not required to be filed.*56014201622400000*
33. The data for this supplement is not required to be filed.*56014201622500000*
34. The data for this supplement is not required to be filed.*56014201622600000*
35.
36.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
51.3
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES37.
38.
39.
40.
41.
42. The data for this supplement is not required to be filed.*56014201621700000*
43. The data for this supplement is not required to be filed.*56014201643500000*
44.
45.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
52P
Overflow Page for Write-Ins
Additional Write-ins for Assets:Current Statement Date 4
1 2 3Net Admitted December 31,
Nonadmitted Assets Prior Year NetAssets Assets (Cols. 1 - 2) Admitted Assets
2504. Miscellaneous assets......................................................................................................... ......................266,382 ......................266,382 .................................0 ....................................2597. Summary of remaining write-ins for Line 25...................................................................... ......................266,382 ......................266,382 .................................0 .................................0Additional Write-ins for Summary of Operations:
1 2Current Year Prior Year
2504. Miscellaneous............................................................................................................................................................................................... ...............12,100,000 ...................................2505. Fraternal Allocation...................................................................................................................................................................................... ................................... ...................................2597. Summary of remaining write-ins for Line 25................................................................................................................................................ ...............12,100,000 ...............................0Additional Write-ins for Exhibit 2:
Insurance 5 6 71 Accident and Health 4
2 3 Aggregate ofCost All All Other Lines
Life Containment Other of Business Investment Fraternal Total09.304 Contributions to charitable, civic, and governmental bodies............ ......................... ......................... ......................... ......................... ......................... ........9,445,860 ........9,445,86009.397 Summary of remaining write-ins for Line 9.3.................................... ......................0 ......................0 ......................0 ......................0 ......................0 ........9,445,860 ........9,445,860
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
52L
Overflow Page for Write-Ins
Additional Write-ins for Analysis of Operations:1 Insurance 8 9
2 3 4 5 6 7Aggregate of Total
Life Individual Supplementary Accident All Other Lines (Columns 2)Total Insurance Annuities Contracts and Health of Business through 6) Fraternal Expense
2504. Miscellaneous.............................................................................................................................................................................. ................12,100,000 ............................... ............................... ............................... ............................... ............12,100,000 .............12,100,000 ............................... ...............................2505. Fraternal Allocation...................................................................................................................................................................... ...............................0 ...........107,028,626 .............89,310,122 ...........(14,093,833) ...........(35,879,815) .........(146,365,100) ............................0 ............................... ...............................2597. Summary of remaining write-ins for Line 25................................................................................................................................. ................12,100,000 ...........107,028,626 .............89,310,122 ...........(14,093,833) ...........(35,879,815) .........(134,265,100) .............12,100,000 ............................0 ............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI01
SUMMARY INVESTMENT SCHEDULEGross Admitted Assets as Reported
Investment Holdings in the Annual Statement1 2 3 4 5 6
Securities Lending TotalReinvested (Col. 3 + 4)
Investment Categories Amount Percentage Amount Collateral Amount Amount Percentage
1. Bonds:1.1 U.S. treasury securities....................................................................................... .....2,346,995,976 .............4.1 .....2,346,995,976 ............................. .........2,346,995,976 .............4.11.2 U.S. government agency obligations (excluding mortgage-backed
securities):1.21 Issued by U.S. government agencies........................................................ ..........43,519,976 .............0.1 ..........43,519,976 ............................. ..............43,519,976 .............0.11.22 Issued by U.S. government sponsored agencies...................................... ............9,265,000 .............0.0 ............9,265,000 ............................. ................9,265,000 .............0.0
1.3 Non-U.S. government (including Canada, excluding mortgage-backed securities)............................................................................................... ........106,463,156 .............0.2 ........106,463,156 ............................. ............106,463,156 .............0.2
1.4 Securities issued by states, territories and possessions and politicalsubdivisions in the U.S.:1.41 States, territories and possessions general obligations............................. ............5,500,000 .............0.0 ............5,500,000 ............................. ................5,500,000 .............0.01.42 Political subdivisions of states, territories and possessions and
political subdivisions general obligations................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.01.43 Revenue and assessment obligations....................................................... ..........14,000,000 .............0.0 ..........14,000,000 ............................. ..............14,000,000 .............0.01.44 Industrial development and similar obligations.......................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
1.5 Mortgage-backed securities (includes residential and commercial MBS):1.51 Pass-through securities:
1.511 Issued or guaranteed by GNMA..................................................... ..........37,764,587 .............0.1 ..........37,764,587 ............................. ..............37,764,587 .............0.11.512 Issued or guaranteed by FNMA and FHLMC.................................. .....6,743,438,699 ...........11.7 .....6,743,438,699 ............................. .........6,743,438,699 ...........11.71.513 All other........................................................................................... ........157,062,241 .............0.3 ........157,062,241 ............................. ............157,062,241 .............0.3
1.52 CMOs and REMICs:1.521 Issued or guaranteed by GNMA, FNMA, FHLMC or VA................. ........156,751,161 .............0.3 ........156,751,161 ............................. ............156,751,161 .............0.31.522 Issued by non-U.S. Government issuers and collateralized by mortgage-based securities issued or guaranteed by agencies shown in Line 1.521..................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.01.523 All other........................................................................................... ........301,513,585 .............0.5 ........301,513,585 ............................. ............301,513,585 .............0.5
2. Other debt and other fixed income securities (excluding short-term):2.1 Unaffiliated domestic securities (includes credit tenant loans and
hybrid securities)................................................................................................. ...26,515,076,009 ...........46.1 ...26,515,076,009 ............................. .......26,515,076,009 ...........46.12.2 Unaffiliated non-U.S. securities (including Canada)........................................... .....5,470,962,611 .............9.5 .....5,470,962,611 ............................. .........5,470,962,611 .............9.52.3 Affiliated securities.............................................................................................. ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
3. Equity interests:3.1 Investments in mutual funds............................................................................... ........192,897,313 .............0.3 ........192,897,313 ............................. ............192,897,313 .............0.33.2 Preferred stocks:
3.21 Affiliated..................................................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.03.22 Unaffiliated................................................................................................. ........125,272,550 .............0.2 ........125,272,550 ............................. ............125,272,550 .............0.2
3.3 Publicly traded equity securities (excluding preferred stocks):3.31 Affiliated..................................................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.03.32 Unaffiliated................................................................................................. .....1,133,891,277 .............2.0 .....1,133,891,277 ............................. .........1,133,891,277 .............2.0
3.4 Other equity securities:3.41 Affiliated..................................................................................................... ........261,141,670 .............0.5 ........261,141,670 ............................. ............261,141,670 .............0.53.42 Unaffiliated................................................................................................. ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
3.5 Other equity interests including tangible personal property under lease:3.51 Affiliated..................................................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.03.52 Unaffiliated................................................................................................. ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
4. Mortgage loans:4.1 Construction and land development................................................................... ..........23,706,206 .............0.0 ..........23,706,206 ............................. ..............23,706,206 .............0.04.2 Agricultural.......................................................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.04.3 Single family residential properties..................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.04.4 Multifamily residential properties......................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.04.5 Commercial loans............................................................................................... .....7,752,203,945 ...........13.5 .....7,752,203,945 ............................. .........7,752,203,945 ...........13.54.6 Mezzanine real estate loans............................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
5. Real estate investments:5.1 Property occupied by company........................................................................... ..........53,388,403 .............0.1 ..........53,388,403 ............................. ..............53,388,403 .............0.15.2 Property held for production of income (including $..........0 of
property acquired in satisfaction of debt)............................................................ ............................. .............0.0 ............................. ............................. ..............................0 .............0.05.3 Property held for sale (including $.........0 property acquired in
satisfaction of debt)............................................................................................. ............1,923,400 .............0.0 ............1,923,400 ............................. ................1,923,400 .............0.06. Contract loans............................................................................................................. .....1,166,787,405 .............2.0 .....1,164,441,087 ............................. .........1,164,441,087 .............2.07. Derivatives.................................................................................................................. ..........36,048,624 .............0.1 ..........36,048,624 ............................. ..............36,048,624 .............0.18. Receivables for securities........................................................................................... ..........69,942,386 .............0.1 ..........69,942,386 ............................. ..............69,942,386 .............0.19. Securities lending (Line 10, Asset Page reinvested collateral)................................... ............................. .............0.0 ............................. .........XXX............. .........XXX................. .........XXX...
10. Cash, cash equivalents and short-term investments.................................................. .....1,730,644,406 .............3.0 .....1,730,644,406 ............................. .........1,730,644,406 .............3.011. Other invested assets................................................................................................. .....3,068,311,792 .............5.3 .....3,062,224,344 ............................. .........3,062,224,344 .............5.312. Total invested assets.................................................................................................. ...57,524,472,379 .........100.0 ...57,516,038,613 ..........................0 .......57,516,038,613 .........100.0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI02
SCHEDULE A - VERIFICATION BETWEEN YEARS Real Estate
1. Book/adjusted carrying value, December 31 of prior year...................................................................................................................................................................... 49,513,456
2. Cost of acquired:
2.1 Actual cost at time of acquisition (Part 2, Column 6)...............................................................................................................
2.2 Additional investment made after acquisition (Part 2, Column 9)........................................................................................... 13,038,077 13,038,077
3. Current year change in encumbrances:
3.1 Totals, Part 1, Column 13........................................................................................................................................................
3.2 Totals, Part 3, Column 11........................................................................................................................................................ 0
4. Total gain (loss) on disposals, Part 3, Column 18.................................................................................................................................................................................. 202,286
5. Deduct amounts received on disposals, Part 3, Column 15................................................................................................................................................................... 758,740
6. Total foreign exchange change in book/adjusted carrying value:
6.1 Totals, Part 1, Column 15........................................................................................................................................................
6.2 Totals, Part 3, Column 13........................................................................................................................................................ 0
7. Deduct current year's other-than-temporary impairment recognized:
7.1 Totals, Part 1, Column 12........................................................................................................................................................
7.2 Totals, Part 3, Column 10........................................................................................................................................................ 0
8. Deduct current year's depreciation:
8.1 Totals, Part 1, Column 11........................................................................................................................................................ 6,683,275
8.2 Totals, Part 3, Column 9........................................................................................................................................................... 6,683,275
9. Book/adjusted carrying value at end of current period (Lines 1+2+3+4-5+6-7-8)................................................................................................................................. 55,311,804
10. Deduct total nonadmitted amounts.........................................................................................................................................................................................................
11. Statement value at end of current period (Line 9 minus Line 10).......................................................................................................................................................... 55,311,804
SCHEDULE B - VERIFICATION BETWEEN YEARS Mortgage Loans
1. Book value/recorded investment excluding accrued interest, December 31 of prior year..................................................................................................................... 7,557,681,444
2. Cost of acquired:
2.1 Actual cost at time of acquisition (Part 2, Column 7)............................................................................................................... 1,148,941,489
2.2 Additional investment made after acquisition (Part 2, Column 8)........................................................................................... 27,285,872 1,176,227,361
3. Capitalized deferred interest and other:
3.1 Totals, Part 1, Column 12........................................................................................................................................................
3.2 Totals, Part 3, Column 11........................................................................................................................................................ 0
4. Accrual of discount..................................................................................................................................................................................................................................
5. Unrealized valuation increase (decrease):
5.1 Totals, Part 1, Column 9...........................................................................................................................................................
5.2 Totals, Part 3, Column 8........................................................................................................................................................... 0
6. Total gain (loss) on disposals, Part 3, Column 18.................................................................................................................................................................................. (33,928)
7. Deduct amounts received on disposals, Part 3, Column 15................................................................................................................................................................... 951,460,029
8. Deduct amortization of premium and mortgage interest points and commitment fees..........................................................................................................................
9. Total foreign exchange change in book value/recorded investment excluding accrued interest:
9.1 Totals, Part 1, Column 13........................................................................................................................................................
9.2 Totals, Part 3, Column 13........................................................................................................................................................ 0
10. Deduct current year's other-than-temporary impairment recognized:
10.1 Totals, Part 1, Column 11........................................................................................................................................................
10.2 Totals, Part 3, Column 10........................................................................................................................................................ 6,504,697 6,504,697
11. Book value/recorded investment excluding accrued interest at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)...................................................................... 7,775,910,151
12. Total valuation allowance........................................................................................................................................................................................................................
13. Subtotal (Line 11 plus Line 12)............................................................................................................................................................................................................... 7,775,910,151
14. Deduct total nonadmitted amounts.........................................................................................................................................................................................................
15. Statement value at end of current period (Line 13 minus Line 14)........................................................................................................................................................ 7,775,910,151
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI03
SCHEDULE BA - VERIFICATION BETWEEN YEARS Other Long-Term Invested Assets
1. Book/adjusted carrying value, December 31 of prior year...................................................................................................................................................................... 2,820,649,884
2. Cost of acquired:
2.1 Actual cost at time of acquisition (Part 2, Column 8)............................................................................................................... 17,734,016
2.2 Additional investment made after acquisition (Part 2, Column 9)........................................................................................... 574,523,000 592,257,016
3. Capitalized deferred interest and other:
3.1 Totals, Part 1, Column 16........................................................................................................................................................
3.2 Totals, Part 3, Column 12........................................................................................................................................................ 0
4. Accrual of discount.................................................................................................................................................................................................................................. 26,547
5. Unrealized valuation increase (decrease):
5.1 Totals, Part 1, Column 13........................................................................................................................................................ 541,263,113
5.2 Totals, Part 3, Column 9........................................................................................................................................................... 6,165,961 547,429,075
6. Total gain (loss) on disposals, Part 3, Column 19.................................................................................................................................................................................. (6,429,646)
7. Deduct amounts received on disposals, Part 3, Column 16................................................................................................................................................................... 883,300,434
8. Deduct amortization of premium and depreciation................................................................................................................................................................................. 42,230
9. Total foreign exchange change in book/adjusted carrying value:
9.1 Totals, Part 1, Column 17........................................................................................................................................................ (1,271,929)
9.2 Totals, Part 3, Column 14........................................................................................................................................................ (1,271,929)
10. Deduct current year's other-than-temporary impairment recognized:
10.1 Totals, Part 1, Column 15........................................................................................................................................................
10.2 Totals, Part 3, Column 11........................................................................................................................................................ 1,006,497 1,006,497
11. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)....................................................................................................................... 3,068,311,784
12. Deduct total nonadmitted amounts......................................................................................................................................................................................................... 6,087,448
13. Statement value at end of current period (Line 11 minus Line 12)........................................................................................................................................................ 3,062,224,336
SCHEDULE D - VERIFICATION BETWEEN YEARS Bonds and Stocks
1. Book/adjusted carrying value, December 31 of prior year...................................................................................................................................................................... 41,968,986,720
2. Cost of bonds and stocks acquired, Part 3, Column 7............................................................................................................................................................................ 19,932,346,548
3. Accrual of discount.................................................................................................................................................................................................................................. 33,151,235
4. Unrealized valuation increase (decrease):
4.1 Part 1, Column 12.................................................................................................................................................................... 4,204,726
4.2 Part 2, Section 1, Column 15...................................................................................................................................................
4.3 Part 2, Section 2, Column 13................................................................................................................................................... 139,600,729
4.4 Part 4, Column 11.................................................................................................................................................................... (39,878,983) 103,926,472
5. Total gain (loss) on disposals, Part 4, Column 19.................................................................................................................................................................................. 176,910,715
6. Deduct consideration for bonds and stocks disposed of, Part 4, Column 7........................................................................................................................................... 18,474,213,834
7. Deduct amortization of premium............................................................................................................................................................................................................. 94,112,813
8. Total foreign exchange change in book/adjusted carrying value:
8.1 Part 1, Column 15.................................................................................................................................................................... (7,976,254)
8.2 Part 2, Section 1, Column 19...................................................................................................................................................
8.3 Part 2, Section 2, Column 16...................................................................................................................................................
8.4 Part 4, Column 15.................................................................................................................................................................... 3,138,819 (4,837,435)
9. Deduct current year's other-than-temporary impairment recognized:
9.1 Part 1, Column 14.................................................................................................................................................................... 11,913,355
9.2 Part 2, Section 1, Column 17...................................................................................................................................................
9.3 Part 2, Section 2, Column 14...................................................................................................................................................
9.4 Part 4, Column 13.................................................................................................................................................................... 8,728,443 20,641,798
10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)............................................................................................................................. 43,621,515,810
11. Deduct total nonadmitted amounts.........................................................................................................................................................................................................
12. Statement value at end of current period (Line 10 minus Line 11)........................................................................................................................................................ 43,621,515,810
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI04
SCHEDULE D - SUMMARY BY COUNTRY Long-Term Bonds and Stocks OWNED December 31 of Current Year
1 2 3 4Book/Adjusted Par Value
Description Carrying Value Fair Value Actual Cost of Bonds
BONDS 1. United States.......................... .................2,441,022,876 .................2,515,075,145 .................2,424,452,741 .................2,391,982,705
Governments (Including all obligations 2. Canada................................... ......................93,499,565 ......................97,919,373 ......................93,103,454 ......................94,000,000
guaranteed by governments) 3. Other Countries...................... ......................56,871,840 ......................62,357,088 ......................56,651,420 ......................57,000,000
4. Totals...................................... .................2,591,394,281 .................2,675,351,606 .................2,574,207,615 .................2,542,982,705U.S. States, Territories and Possessions(Direct and guaranteed) 5. Totals...................................... ....................168,298,881 ....................203,093,229 ....................168,335,497 ....................167,936,206U.S. Political Subdivisions of States, Territoriesand Possessions (Direct and guaranteed) 6. Totals...................................... ......................................... ......................................... ......................................... .........................................U.S. Special Revenue and Special AssessmentObligations and All Non-Guaranteed Obligationsof Agencies and Authorities of Governmentsand Their Political Subdivisions 7. Totals...................................... .................6,974,401,844 .................6,993,718,460 .................6,986,296,066 .................6,752,753,525
Industrial and Miscellaneous, SVO Identified 8. United States.......................... ...............26,628,979,991 ...............28,177,407,364 ...............26,683,849,044 ...............26,665,079,425
Funds and Hybrid Securities (unaffiliated) 9. Canada................................... .................1,151,043,634 .................1,189,546,041 .................1,157,095,038 .................1,144,847,911
10. Other Countries...................... .................4,394,194,385 .................4,539,490,549 .................4,428,936,965 .................4,495,249,544
11. Totals...................................... ...............32,174,218,010 ...............33,906,443,954 ...............32,269,881,047 ...............32,305,176,880
Parent, Subsidiaries and Affiliates 12. Totals...................................... ......................................... ......................................... ......................................... .........................................
13. Total Bonds........................... ...............41,908,313,016 ...............43,778,607,249 ...............41,998,720,225 ...............41,768,849,316
PREFERRED STOCKS 14. United States.......................... ......................98,777,136 ....................107,690,277 ......................98,777,136
Industrial and Miscellaneous (Unaffiliated) 15. Canada................................... ......................................... ......................................... .........................................
16. Other Countries...................... ......................26,495,414 ......................27,821,130 ......................26,495,414
17. Totals...................................... ....................125,272,550 ....................135,511,407 ....................125,272,550
Parent, Subsidiaries and Affiliates 18. Totals...................................... ......................................... ......................................... .........................................
19. Total Preferred Stocks......... ....................125,272,550 ....................135,511,407 ....................125,272,550
COMMON STOCKS 20. United States.......................... .................1,269,099,458 .................1,269,099,458 .................1,067,509,105
Industrial and Miscellaneous (Unaffiliated) 21. Canada................................... ........................7,403,485 ........................7,403,485 ........................5,946,231
22. Other Countries...................... ......................50,285,629 ......................50,285,629 ......................47,793,378
23. Totals...................................... .................1,326,788,572 .................1,326,788,572 .................1,121,248,715
Parent, Subsidiaries and Affiliates 24. Totals...................................... ....................261,141,670 ....................261,141,670 ....................178,618,176
25. Total Common Stocks......... .................1,587,930,242 .................1,587,930,242 .................1,299,866,891
26. Total Stocks.......................... .................1,713,202,792 .................1,723,441,649 .................1,425,139,441
27. Total Bonds and Stocks...... ...............43,621,515,808 ...............45,502,048,898 ...............43,423,859,666
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI05
SCHEDULE D - PART 1A - SECTION 1 Quality and Maturity Distribution of All Bonds Owned December 31, At Book/Adjusted Carrying Values By Major Types of Issues and NAIC Designations
1 2 3 4 5 6 7 8 9 10 11 121 Year Over 1 Year Over 5 Years Over 10 Years Over 20 No Maturity Total Column 7 as a Total from Column % from Col. 7 Total Total
NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.7 6 Prior Year Prior Year Publicly Traded Privately Placed (a)1. U.S. Governments
1.1 NAIC 1....................................................................................... .............89,838,838 ........1,077,576,648 ...........834,759,619 ...........289,190,528 ...........159,657,813 ..........XXX.............. ........2,451,023,446 .........................5.6 ........2,192,813,466 .........................5.2 ........2,395,826,262 .............55,197,1841.2 NAIC 2....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................1.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................1.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................1.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................1.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................1.7 Totals........................................................................................ .............89,838,838 ........1,077,576,648 ...........834,759,619 ...........289,190,528 ...........159,657,813 ..........XXX.............. ........2,451,023,446 .........................5.6 ........2,192,813,466 .........................5.2 ........2,395,826,262 .............55,197,184
2. All Other Governments2.1 NAIC 1....................................................................................... .............65,954,834 .............91,847,582 .............58,523,823 ............................... ............................... ..........XXX.............. ...........216,326,239 .........................0.5 ...........217,389,855 .........................0.5 ...........134,399,174 .............81,927,0652.2 NAIC 2....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................2.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 .............39,742,330 .........................0.1 ............................... ...............................2.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................2.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................2.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................2.7 Totals........................................................................................ .............65,954,834 .............91,847,582 .............58,523,823 ............................0 ............................0 ..........XXX.............. ...........216,326,239 .........................0.5 ...........257,132,185 .........................0.6 ...........134,399,174 .............81,927,065
3. U.S. States, Territories and Possessions, etc., Guaranteed3.1 NAIC 1....................................................................................... ...........248,254,956 ............................... ............................... .............48,796,206 ...........118,412,675 ..........XXX.............. ...........415,463,837 .........................1.0 ...........253,038,553 .........................0.6 ...........364,882,631 .............50,581,2063.2 NAIC 2....................................................................................... ............................... ...............1,090,000 ............................... ............................... ............................... ..........XXX.............. ...............1,090,000 .........................0.0 ............................... .........................0.0 ...............1,090,000 ...............................3.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................3.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................3.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................3.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................3.7 Totals........................................................................................ ...........248,254,956 ...............1,090,000 ............................0 .............48,796,206 ...........118,412,675 ..........XXX.............. ...........416,553,837 .........................1.0 ...........253,038,553 .........................0.6 ...........365,972,631 .............50,581,206
4. U.S. Political Subdivisions of States, Territories andPossessions, Guaranteed
4.1 NAIC 1....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................4.2 NAIC 2....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................4.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................4.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................4.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................4.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................4.7 Totals........................................................................................ ............................0 ............................0 ............................0 ............................0 ............................0 ..........XXX.............. ............................0 .........................0.0 ............................0 .........................0.0 ............................0 ............................0
5. U.S. Special Revenue & Special Assessment Obligations,etc., Non-Guaranteed
5.1 NAIC 1....................................................................................... ...........133,603,088 ...............2,438,271 .............38,627,946 ........1,917,837,597 ........4,971,838,525 ..........XXX.............. ........7,064,345,427 .......................16.2 ........7,029,051,215 .......................16.7 ........7,064,345,427 ...............................5.2 NAIC 2....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ...............1,454,000 .........................0.0 ............................... ...............................5.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................5.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................5.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................5.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................5.7 Totals........................................................................................ ...........133,603,088 ...............2,438,271 .............38,627,946 ........1,917,837,597 ........4,971,838,525 ..........XXX.............. ........7,064,345,427 .......................16.2 ........7,030,505,215 .......................16.7 ........7,064,345,427 ............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI06
SCHEDULE D - PART 1A - SECTION 1 (continued) Quality and Maturity Distribution of All Bonds Owned December 31, At Book/Adjusted Carrying Values By Major Types of Issues and NAIC Designations
1 2 3 4 5 6 7 8 9 10 11 121 Year Over 1 Year Over 5 Years Over 10 Years Over 20 No Maturity Total Column 7 as a Total from Column % from Col. 7 Total Total
NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.7 6 Prior Year Prior Year Publicly Traded Privately Placed (a)6. Industrial and Miscellaneous (unaffiliated)
6.1 NAIC 1....................................................................................... ........1,382,954,451 ........3,039,938,165 ........4,566,201,930 ........2,671,201,076 ........4,619,816,445 ..........XXX.............. ......16,280,112,067 .......................37.4 ......15,426,867,416 .......................36.6 ......10,214,557,223 ........6,065,554,8446.2 NAIC 2....................................................................................... ...........520,608,003 ........3,864,636,483 ........5,655,988,940 ........1,680,494,580 ........2,106,119,177 ..........XXX.............. ......13,827,847,183 .......................31.8 ......14,172,246,690 .......................33.6 ........9,806,092,858 ........4,021,754,3256.3 NAIC 3....................................................................................... .............25,952,397 ...........640,692,772 ...........978,250,447 ...........198,604,605 ...........125,502,527 ..........XXX.............. ........1,969,002,748 .........................4.5 ........1,806,737,363 .........................4.3 ........1,330,745,055 ...........638,257,6936.4 NAIC 4....................................................................................... ...............6,325,787 ...........319,155,364 ...........433,627,828 .............48,704,787 ...........103,899,226 ..........XXX.............. ...........911,712,992 .........................2.1 ...........809,168,075 .........................1.9 ...........664,798,195 ...........246,914,7976.5 NAIC 5....................................................................................... ............................... .............35,775,213 .............28,651,668 .............16,969,117 .............21,030,825 ..........XXX.............. ...........102,426,823 .........................0.2 .............52,532,253 .........................0.1 .............81,898,269 .............20,528,5546.6 NAIC 6....................................................................................... ...............2,211,212 ...............3,449,840 ............................... .....................1,241 ...............3,694,485 ..........XXX.............. ...............9,356,778 .........................0.0 ...............9,636,388 .........................0.0 .................457,358 ...............8,899,4206.7 Totals........................................................................................ ........1,938,051,850 ........7,903,647,837 ......11,662,720,813 ........4,615,975,406 ........6,980,062,685 ..........XXX.............. ......33,100,458,591 .......................76.1 ......32,277,188,185 .......................76.6 ......22,098,548,958 ......11,001,909,633
7. Hybrid Securities7.1 NAIC 1....................................................................................... ............................... .............28,397,811 .............16,539,981 .............18,526,199 .............13,945,245 ..........XXX.............. .............77,409,236 .........................0.2 .............94,373,866 .........................0.2 .............77,409,236 ...............................7.2 NAIC 2....................................................................................... ............................... .............19,941,872 ............................... ............................... .............39,718,039 ..........XXX.............. .............59,659,911 .........................0.1 .............55,587,911 .........................0.1 .............12,388,290 .............47,271,6217.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ...............4,707,601 ..........XXX.............. ...............4,707,601 .........................0.0 ...............2,441,862 .........................0.0 ...............4,707,601 ...............................7.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................7.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................7.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................7.7 Totals........................................................................................ ............................0 .............48,339,683 .............16,539,981 .............18,526,199 .............58,370,885 ..........XXX.............. ...........141,776,748 .........................0.3 ...........152,403,639 .........................0.4 .............94,505,127 .............47,271,621
8. Parent, Subsidiaries and Affiliates8.1 NAIC 1....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................8.2 NAIC 2....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................8.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................8.4 NAIC 4....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................8.5 NAIC 5....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................8.6 NAIC 6....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................8.7 Totals........................................................................................ ............................0 ............................0 ............................0 ............................0 ............................0 ..........XXX.............. ............................0 .........................0.0 ............................0 .........................0.0 ............................0 ............................0
9. SVO Identified Funds9.1 NAIC 1....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ...........123,277,136 ...........123,277,136 .........................0.3 ..........XXX.............. ..........XXX.............. ...........123,277,136 ...............................9.2 NAIC 2....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ..........XXX.............. ..........XXX.............. ............................... ...............................9.3 NAIC 3....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ..........XXX.............. ..........XXX.............. ............................... ...............................9.4 NAIC 4....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ..........XXX.............. ..........XXX.............. ............................... ...............................9.5 NAIC 5....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ..........XXX.............. ..........XXX.............. ............................... ...............................9.6 NAIC 6....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ..........XXX.............. ..........XXX.............. ............................... ...............................9.7 Totals........................................................................................ ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ...........123,277,136 ...........123,277,136 .........................0.3 ..........XXX.............. ..........XXX.............. ...........123,277,136 ............................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI07
SCHEDULE D - PART 1A - SECTION 1 (continued) Quality and Maturity Distribution of All Bonds Owned December 31, At Book/Adjusted Carrying Values By Major Types of Issues and NAIC Designations
1 2 3 4 5 6 7 8 9 10 11 121 Year Over 1 Year Over 5 Years Over 10 Years Over 20 No Maturity Total Column 7 as a Total from Column % from Col. 7 Total Total
NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.7 6 Prior Year Prior Year Publicly Traded Privately Placed (a)10. Total Bonds Current Year
10.1 NAIC 1....................................................................................... (d)....1,920,606,167 ........4,240,198,477 ........5,514,653,299 ........4,945,551,606 ........9,883,670,703 ...........123,277,136 ......26,627,957,388 .......................61.2 ...........XXX............. ...........XXX............. ......20,374,697,089 ........6,253,260,29910.2 NAIC 2....................................................................................... (d)......520,608,003 ........3,885,668,355 ........5,655,988,940 ........1,680,494,580 ........2,145,837,216 ............................0 ......13,888,597,094 .......................31.9 ...........XXX............. ...........XXX............. ........9,819,571,148 ........4,069,025,94610.3 NAIC 3....................................................................................... (d)........25,952,397 ...........640,692,772 ...........978,250,447 ...........198,604,605 ...........130,210,128 ............................0 ........1,973,710,349 .........................4.5 ...........XXX............. ...........XXX............. ........1,335,452,656 ...........638,257,69310.4 NAIC 4....................................................................................... (d)..........6,325,787 ...........319,155,364 ...........433,627,828 .............48,704,787 ...........103,899,226 ............................0 ...........911,712,992 .........................2.1 ...........XXX............. ...........XXX............. ...........664,798,195 ...........246,914,79710.5 NAIC 5....................................................................................... (d)........................0 .............35,775,213 .............28,651,668 .............16,969,117 .............21,030,825 ............................0 (c).......102,426,823 .........................0.2 ...........XXX............. ...........XXX............. .............81,898,269 .............20,528,55410.6 NAIC 6....................................................................................... (d)..........2,211,212 ...............3,449,840 ............................0 .....................1,241 ...............3,694,485 ............................0 (c)...........9,356,778 .........................0.0 ...........XXX............. ...........XXX............. .................457,358 ...............8,899,42010.7 Totals........................................................................................ ........2,475,703,566 ........9,124,940,021 ......12,611,172,182 ........6,890,325,936 ......12,288,342,583 ...........123,277,136 (b)..43,513,761,424 .....................100.0 ...........XXX............. ...........XXX............. ......32,276,874,715 ......11,236,886,70910.8 Line 10.7 as a % of Col. 7......................................................... .........................5.7 .......................21.0 .......................29.0 .......................15.8 .......................28.2 .........................0.3 .....................100.0 ...........XXX............. ...........XXX............. ...........XXX............. .......................74.2 .......................25.8
11. Total Bonds Prior Year11.1 NAIC 1....................................................................................... ........2,135,912,622 ........3,996,420,486 ........5,054,362,589 ........4,346,508,470 ........9,680,330,204 ...........XXX............. ...........XXX............. ...........XXX............. ......25,213,534,371 .......................59.8 ......19,369,727,132 ........5,843,807,24011.2 NAIC 2....................................................................................... ...........741,738,092 ........3,410,594,050 ........6,004,198,250 ........1,594,197,083 ........2,478,561,126 ...........XXX............. ...........XXX............. ...........XXX............. ......14,229,288,601 .......................33.7 ........9,981,430,528 ........4,247,858,07311.3 NAIC 3....................................................................................... .............19,564,366 ...........625,647,364 ...........890,769,702 ...........140,993,322 ...........171,946,801 ...........XXX............. ...........XXX............. ...........XXX............. ........1,848,921,555 .........................4.4 ........1,429,586,935 ...........419,334,62011.4 NAIC 4....................................................................................... .............17,328,610 ...........253,543,283 ...........444,425,573 .............57,146,519 .............36,724,090 ...........XXX............. ...........XXX............. ...........XXX............. ...........809,168,075 .........................1.9 ...........556,361,323 ...........252,806,75211.5 NAIC 5....................................................................................... ...............3,967,283 .............12,311,355 .............17,900,010 .............15,389,857 ...............2,963,748 ...........XXX............. ...........XXX............. ...........XXX............. (c).........52,532,253 .........................0.1 .............32,042,639 .............20,489,61411.6 NAIC 6....................................................................................... ...............3,193,212 ...............2,747,450 ............................... ............................2 ...............3,695,724 ...........XXX............. ...........XXX............. ...........XXX............. (c)...........9,636,388 .........................0.0 ...............2,752,462 ...............6,883,92611.7 Totals........................................................................................ ........2,921,704,185 ........8,301,263,988 ......12,411,656,124 ........6,154,235,253 ......12,374,221,693 ...........XXX............. ...........XXX............. ...........XXX............. (b)..42,163,081,243 .....................100.0 ......31,371,901,019 ......10,791,180,22511.8 Line 11.7 as a % of Col. 9......................................................... .........................6.9 .......................19.7 .......................29.4 .......................14.6 .......................29.3 ...........XXX............. ...........XXX............. ...........XXX............. .....................100.0 ..............XXX.......... .......................74.4 .......................25.6
12. Total Publicly Traded Bonds12.1 NAIC 1....................................................................................... ...........956,926,964 ........3,171,988,366 ........3,999,481,674 ........3,338,906,519 ........8,784,116,430 ...........123,277,136 ......20,374,697,089 .......................46.8 ......19,369,727,132 .......................45.9 ......20,374,697,089 ...........XXX.............12.2 NAIC 2....................................................................................... ...........273,732,378 ........2,909,991,420 ........3,828,788,331 ........1,114,681,239 ........1,692,377,780 ............................... ........9,819,571,148 .......................22.6 ........9,981,430,528 .......................23.7 ........9,819,571,148 ...........XXX.............12.3 NAIC 3....................................................................................... .............13,210,676 ...........433,121,769 ...........636,727,084 ...........161,933,253 .............90,459,874 ............................... ........1,335,452,656 .........................3.1 ........1,429,586,935 .........................3.4 ........1,335,452,656 ...........XXX.............12.4 NAIC 4....................................................................................... ...............6,325,787 ...........253,469,708 ...........260,961,000 .............48,704,787 .............95,336,913 ............................... ...........664,798,195 .........................1.5 ...........556,361,323 .........................1.3 ...........664,798,195 ...........XXX.............12.5 NAIC 5....................................................................................... ............................... .............34,325,213 .............12,972,180 .............13,732,656 .............20,868,220 ............................... .............81,898,269 .........................0.2 .............32,042,639 .........................0.1 .............81,898,269 ...........XXX.............12.6 NAIC 6....................................................................................... .....................3,712 .................452,346 ............................... .....................1,000 ........................300 ............................... .................457,358 .........................0.0 ...............2,752,462 .........................0.0 .................457,358 ...........XXX.............12.7 Totals........................................................................................ ........1,250,199,517 ........6,803,348,822 ........8,738,930,269 ........4,677,959,454 ......10,683,159,517 ...........123,277,136 ......32,276,874,715 .......................74.2 ......31,371,901,019 .......................74.4 ......32,276,874,715 ...........XXX.............12.8 Line 12.7 as a % of Col. 7......................................................... .........................3.9 .......................21.1 .......................27.1 .......................14.5 .......................33.1 .........................0.4 .....................100.0 ...........XXX............. ...........XXX............. ...........XXX............. .....................100.0 ...........XXX.............12.9 Line 12.7 as a % of Line 10.7, Col. 7, Section 10....................... .........................2.9 .......................15.6 .......................20.1 .......................10.8 .......................24.6 .........................0.3 .......................74.2 ...........XXX............. ...........XXX............. ...........XXX............. .......................74.2 ...........XXX.............
13. Total Privately Placed Bonds13.1 NAIC 1....................................................................................... ...........963,679,203 ........1,068,210,111 ........1,515,171,625 ........1,606,645,087 ........1,099,554,273 ............................... ........6,253,260,299 .......................14.4 ........5,843,807,240 .......................13.9 ...........XXX............. ........6,253,260,29913.2 NAIC 2....................................................................................... ...........246,875,625 ...........975,676,935 ........1,827,200,609 ...........565,813,341 ...........453,459,436 ............................... ........4,069,025,946 .........................9.4 ........4,247,858,073 .......................10.1 ...........XXX............. ........4,069,025,94613.3 NAIC 3....................................................................................... .............12,741,721 ...........207,571,003 ...........341,523,363 .............36,671,352 .............39,750,254 ............................... ...........638,257,693 .........................1.5 ...........419,334,620 .........................1.0 ...........XXX............. ...........638,257,69313.4 NAIC 4....................................................................................... ............................... .............65,685,656 ...........172,666,828 ............................... ...............8,562,313 ............................... ...........246,914,797 .........................0.6 ...........252,806,752 .........................0.6 ...........XXX............. ...........246,914,79713.5 NAIC 5....................................................................................... ............................... ...............1,450,000 .............15,679,488 ...............3,236,461 .................162,605 ............................... .............20,528,554 .........................0.0 .............20,489,614 .........................0.0 ...........XXX............. .............20,528,55413.6 NAIC 6....................................................................................... ...............2,207,500 ...............2,997,494 ............................... ........................241 ...............3,694,185 ............................... ...............8,899,420 .........................0.0 ...............6,883,926 .........................0.0 ...........XXX............. ...............8,899,42013.7 Totals........................................................................................ ........1,225,504,049 ........2,321,591,199 ........3,872,241,913 ........2,212,366,482 ........1,605,183,066 ............................0 ......11,236,886,709 .......................25.8 ......10,791,180,225 .......................25.6 ...........XXX............. ......11,236,886,70913.8 Line 13.7 as a % of Col. 7......................................................... .......................10.9 .......................20.7 .......................34.5 .......................19.7 .......................14.3 .........................0.0 .....................100.0 ...........XXX............. ...........XXX............. ...........XXX............. ...........XXX............. .....................100.013.9 Line 13.7 as a % of Line 10.7, Col. 7, Section 10....................... .........................2.8 .........................5.3 .........................8.9 .........................5.1 .........................3.7 .........................0.0 .......................25.8 ...........XXX............. ...........XXX............. ...........XXX............. ...........XXX............. .......................25.8
(a) Includes $..........0 freely tradable under SEC Rule 144 or qualified for resale under SEC Rule 144A.(b) Includes $.....377,986,276 current year, $.....411,291,511 prior year of bonds with Z designations and $.....1,911,500 current year, $..........0 prior year of bonds with Z* designations. The letter "Z" means the NAIC designation was not assigned by the
Securities Valuation Office (SVO) at the date of the statement. "Z*" means the SVO could not evaluate the obligation because valuation procedures for the security class are under regulatory review.(c) Includes $..........0 current year, $..........0 prior year of bonds with 5* designations and $..........0 current year, $.....2,783,500 prior year of bonds with 6* designations. "5*" means the NAIC designation was assigned by the SVO in reliance on
the insurer's certification that the issuer is current in all principal and interest payments. "6*" means the NAIC designation was assigned by the SVO due to inadequate certification of principal and interest payments.(d) Includes the following amount of short-term and cash equivalent bonds by NAIC designation: NAIC 1 $.....1,568,345,686; NAIC 2 $.....37,006,385; NAIC 3 $..........0; NAIC 4 $.....96,335; NAIC 5 $..........0; NAIC 6 $..........0.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI08
SCHEDULE D - PART 1A - SECTION 2 Maturity Distribution of All Bonds Owned December 31, At Book/Adjusted Carrying Values By Major Type and Subtype of Issues
1 2 3 4 5 6 7 8 9 10 11 121 Year Over 1 Year Over 5 Years Over 10 Years Over 20 No Maturity Total Column 7 as a Total from Column % from Col. 7 Total Total
Distribution by Type or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.6 6 Prior Year Prior Year Publicly Traded Privately Placed1. U.S. Governments
1.1 Issuer Obligations.................................................................................. ............89,838,731 .......1,077,560,635 ..........834,563,377 ..........275,994,587 ..........134,236,397 ..........XXX............. .......2,412,193,727 ........................5.5 .......2,137,131,373 ........................5.1 .......2,356,996,543 ............55,197,1841.2 Residential Mortgage-Backed Securities............................................... .......................107 ..................16,013 .................196,242 ............13,195,941 ............25,421,416 ..........XXX............. ............38,829,719 ........................0.1 ............55,682,093 ........................0.1 ............38,829,719 ..............................1.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................1.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................1.5 Totals.................................................................................................... ............89,838,838 .......1,077,576,648 ..........834,759,619 ..........289,190,528 ..........159,657,813 ..........XXX............. .......2,451,023,446 ........................5.6 .......2,192,813,466 ........................5.2 .......2,395,826,262 ............55,197,184
2. All Other Governments2.1 Issuer Obligations.................................................................................. ............65,954,834 ............91,847,582 ............58,523,823 .............................. .............................. ..........XXX............. ..........216,326,239 ........................0.5 ..........257,132,185 ........................0.6 ..........134,399,174 ............81,927,0652.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................2.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................2.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................2.5 Totals.................................................................................................... ............65,954,834 ............91,847,582 ............58,523,823 ...........................0 ...........................0 ..........XXX............. ..........216,326,239 ........................0.5 ..........257,132,185 ........................0.6 ..........134,399,174 ............81,927,065
3. U.S. States, Territories and Possessions, Guaranteed3.1 Issuer Obligations.................................................................................. ..........248,254,956 ..............1,090,000 .............................. ............48,796,206 ..........118,412,675 ..........XXX............. ..........416,553,837 ........................1.0 ..........253,038,553 ........................0.6 ..........365,972,631 ............50,581,2063.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................3.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................3.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................3.5 Totals.................................................................................................... ..........248,254,956 ..............1,090,000 ...........................0 ............48,796,206 ..........118,412,675 ..........XXX............. ..........416,553,837 ........................1.0 ..........253,038,553 ........................0.6 ..........365,972,631 ............50,581,206
4. U.S. Political Subdivisions of States, Territories andPossessions, Guaranteed
4.1 Issuer Obligations.................................................................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................4.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................4.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................4.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................4.5 Totals.................................................................................................... ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 ..........XXX............. ...........................0 ........................0.0 ...........................0 ........................0.0 ...........................0 ...........................0
5. U.S. Special Revenue & Special Assessment Obligations, etc.,Non-Guaranteed
5.1 Issuer Obligations.................................................................................. ..........133,463,559 .............................. .............................. .............................. ..............4,455,854 ..........XXX............. ..........137,919,413 ........................0.3 ..........564,418,634 ........................1.3 ..........137,919,413 ..............................5.2 Residential Mortgage-Backed Securities............................................... .................139,529 ..............2,438,271 ............36,461,050 .......1,917,837,597 .......4,951,782,920 ..........XXX............. .......6,908,659,367 ......................15.9 ..............2,515,827 ........................0.0 .......6,908,659,367 ..............................5.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. ............15,599,751 ..........XXX............. ............15,599,751 ........................0.0 .......6,463,570,756 ......................15.3 ............15,599,751 ..............................5.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. ..............2,166,896 .............................. .............................. ..........XXX............. ..............2,166,896 ........................0.0 .............................. ........................0.0 ..............2,166,896 ..............................5.5 Totals.................................................................................................... ..........133,603,088 ..............2,438,271 ............38,627,946 .......1,917,837,597 .......4,971,838,525 ..........XXX............. .......7,064,345,427 ......................16.2 .......7,030,505,217 ......................16.7 .......7,064,345,427 ...........................0
6. Industrial and Miscellaneous (unaffiliated)6.1 Issuer Obligations.................................................................................. .......1,934,634,409 .......7,518,393,982 .....11,446,294,405 .......4,111,238,809 .......5,088,929,999 ..........XXX............. .....30,099,491,604 ......................69.2 .....29,159,658,619 ......................69.2 .....19,571,157,670 .....10,528,333,9346.2 Residential Mortgage-Backed Securities............................................... .............................. ............19,065,520 .............................. ..........336,484,642 ............26,562,679 ..........XXX............. ..........382,112,841 ........................0.9 ..........506,051,675 ........................1.2 ..........381,264,908 .................847,9336.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. ............17,284,794 .......1,827,494,005 ..........XXX............. .......1,844,778,799 ........................4.2 .......1,737,361,552 ........................4.1 .......1,826,571,492 ............18,207,3076.4 Other Loan-Backed and Structured Securities....................................... ..............3,417,441 ..........366,188,335 ..........216,426,408 ..........150,967,161 ............37,076,002 ..........XXX............. ..........774,075,347 ........................1.8 ..........874,116,339 ........................2.1 ..........319,554,888 ..........454,520,4596.5 Totals.................................................................................................... .......1,938,051,850 .......7,903,647,837 .....11,662,720,813 .......4,615,975,406 .......6,980,062,685 ..........XXX............. .....33,100,458,591 ......................76.1 .....32,277,188,185 ......................76.6 .....22,098,548,958 .....11,001,909,633
7. Hybrid Securities7.1 Issuer Obligations.................................................................................. .............................. ............48,339,683 ............16,539,981 ............18,526,199 ............22,385,245 ..........XXX............. ..........105,791,108 ........................0.2 ............94,839,015 ........................0.2 ............67,409,236 ............38,381,8727.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................7.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................7.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. ............35,985,640 ..........XXX............. ............35,985,640 ........................0.1 ............57,564,624 ........................0.1 ............27,095,891 ..............8,889,7497.5 Totals.................................................................................................... ...........................0 ............48,339,683 ............16,539,981 ............18,526,199 ............58,370,885 ..........XXX............. ..........141,776,748 ........................0.3 ..........152,403,639 ........................0.4 ............94,505,127 ............47,271,621
8. Parent, Subsidiaries and Affiliates8.1 Issuer Obligations.................................................................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................8.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................8.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................8.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................8.5 Totals.................................................................................................... ...........................0 ...........................0 ...........................0 ...........................0 ...........................0 ..........XXX............. ...........................0 ........................0.0 ...........................0 ........................0.0 ...........................0 ...........................0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI09
SCHEDULE D - PART 1A - SECTION 2 (continued) Maturity Distribution of All Bonds Owned December 31, At Book/Adjusted Carrying Values By Major Type and Subtype of Issues
1 2 3 4 5 6 7 8 9 10 11 121 Year Over 1 Year Over 5 Years Over 10 Years Over 20 No Maturity Total Column 7 as a Total from Column % from Col. 7 Total Total
Distribution by Type or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.6 6 Prior Year Prior Year Publicly Traded Privately Placed9. SVO Identified Funds
9.1 Exchange Traded Funds Identified by the SVO..................................... ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. .............................. ...........................0 ........................0.0 ..........XXX............. ..........XXX............. .............................. ..............................9.2 Bond Mutual Funds Identified by the SVO............................................. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........123,277,136 ..........123,277,136 ........................0.3 ..........XXX............. ..........XXX............. ..........123,277,136 ..............................9.3 Totals.................................................................................................... ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........123,277,136 ..........123,277,136 ........................0.3 ..........XXX............. ..........XXX............. ..........123,277,136 ...........................0
10. Total Bonds Current Year10.1 Issuer Obligations.................................................................................. .......2,472,146,489 .......8,737,231,882 .....12,355,921,586 .......4,454,555,801 .......5,368,420,170 ..........XXX............. .....33,388,275,928 ......................76.7 ...........XXX............ ...........XXX............ .....22,633,854,667 .....10,754,421,26110.2 Residential Mortgage-Backed Securities............................................... .................139,636 ............21,519,804 ............36,657,292 .......2,267,518,180 .......5,003,767,015 ..........XXX............. .......7,329,601,927 ......................16.8 ...........XXX............ ...........XXX............ .......7,328,753,994 .................847,93310.3 Commercial Mortgage-Backed Securities.............................................. ...........................0 ...........................0 ...........................0 ............17,284,794 .......1,843,093,756 ..........XXX............. .......1,860,378,550 ........................4.3 ...........XXX............ ...........XXX............ .......1,842,171,243 ............18,207,30710.4 Other Loan-Backed and Structured Securities....................................... ..............3,417,441 ..........366,188,335 ..........218,593,304 ..........150,967,161 ............73,061,642 ..........XXX............. ..........812,227,883 ........................1.9 ...........XXX............ ...........XXX............ ..........348,817,675 ..........463,410,20810.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........123,277,136 ..........123,277,136 ........................0.3 ...........XXX............ ...........XXX............ ..........123,277,136 ...........................010.6 Totals.................................................................................................... .......2,475,703,566 .......9,124,940,021 .....12,611,172,182 .......6,890,325,936 .....12,288,342,583 ..........123,277,136 .....43,513,761,424 ....................100.0 ...........XXX............ ...........XXX............ .....32,276,874,715 .....11,236,886,70910.7 Line 10.6 as a % of Col. 7..................................................................... ........................5.7 ......................21.0 ......................29.0 ......................15.8 ......................28.2 ........................0.3 ....................100.0 ..............XXX......... ...........XXX............ ...........XXX............ ......................74.2 ......................25.8
11. Total Bonds Prior Year11.1 Issuer Obligations.................................................................................. .......2,890,503,368 .......7,867,076,107 .....12,087,056,518 .......4,057,407,501 .......5,564,174,885 ..........XXX............. ...........XXX............ ...........XXX............ .....32,466,218,379 ......................77.0 .....22,289,143,399 .....10,177,074,98011.2 Residential Mortgage-Backed Securities............................................... .............................. ............27,578,075 ..............5,629,848 ..........284,674,187 ..........246,367,485 ..........XXX............. ...........XXX............ ...........XXX............ ..........564,249,595 ........................1.3 ..........563,397,066 .................852,52911.3 Commercial Mortgage-Backed Securities.............................................. ............12,466,532 ..............4,835,292 ............72,935,000 .......1,640,821,264 .......6,469,874,220 ..........XXX............. ...........XXX............ ...........XXX............ .......8,200,932,308 ......................19.5 .......8,153,250,273 ............47,682,03411.4 Other Loan-Backed and Structured Securities....................................... ............18,734,286 ..........401,774,514 ..........246,034,759 ..........171,332,301 ............93,805,103 ..........XXX............. ...........XXX............ ...........XXX............ ..........931,680,963 ........................2.2 ..........366,110,281 ..........565,570,68211.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............11.6 Totals.................................................................................................... .......2,921,704,186 .......8,301,263,988 .....12,411,656,125 .......6,154,235,253 .....12,374,221,693 ..........XXX............. ...........XXX............ ...........XXX............ .....42,163,081,245 ....................100.0 .....31,371,901,019 .....10,791,180,22511.7 Line 11.6 as a % of Col. 9..................................................................... ........................6.9 ......................19.7 ......................29.4 ......................14.6 ......................29.3 ..........XXX............. ...........XXX............ ...........XXX............ ....................100.0 ..............XXX......... ......................74.4 ......................25.6
12. Total Publicly Traded Bonds12.1 Issuer Obligations.................................................................................. .......1,246,642,440 .......6,598,966,195 .......8,624,140,867 .......2,355,891,501 .......3,808,213,664 ..........XXX............. .....22,633,854,667 ......................52.0 .....22,289,143,399 ......................52.9 .....22,633,854,667 ...........XXX............12.2 Residential Mortgage-Backed Securities............................................... .................139,636 ............21,519,804 ............36,657,292 .......2,266,670,485 .......5,003,766,777 ..........XXX............. .......7,328,753,994 ......................16.8 ..........563,397,066 ........................1.3 .......7,328,753,994 ...........XXX............12.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .......1,842,171,243 ..........XXX............. .......1,842,171,243 ........................4.2 .......8,153,250,273 ......................19.3 .......1,842,171,243 ...........XXX............12.4 Other Loan-Backed and Structured Securities....................................... ..............3,417,441 ..........182,862,823 ............78,132,110 ............55,397,468 ............29,007,833 ..........XXX............. ..........348,817,675 ........................0.8 ..........366,110,281 ........................0.9 ..........348,817,675 ...........XXX............12.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........123,277,136 ..........123,277,136 ........................0.3 ...........XXX............ ...........XXX............ ..........123,277,136 ...........XXX............12.6 Totals.................................................................................................... .......1,250,199,517 .......6,803,348,822 .......8,738,930,269 .......4,677,959,454 .....10,683,159,517 ..........123,277,136 .....32,276,874,715 ......................74.2 .....31,371,901,019 ......................74.4 .....32,276,874,715 ...........XXX............12.7 Line 12.6 as a % of Col. 7..................................................................... ........................3.9 ......................21.1 ......................27.1 ......................14.5 ......................33.1 ........................0.4 ....................100.0 ...........XXX............ ...........XXX............ ...........XXX............ ....................100.0 ...........XXX............12.8 Line 12.6 as a % of Line 10.6, Col. 7, Section 10.................................. ........................2.9 ......................15.6 ......................20.1 ......................10.8 ......................24.6 ........................0.3 ......................74.2 ...........XXX............ ...........XXX............ ...........XXX............ ......................74.2 ...........XXX............
13. Total Privately Placed Bonds13.1 Issuer Obligations.................................................................................. .......1,225,504,049 .......2,138,265,687 .......3,731,780,719 .......2,098,664,300 .......1,560,206,506 ..........XXX............. .....10,754,421,261 ......................24.7 .....10,177,074,980 ......................24.1 ...........XXX............ .....10,754,421,26113.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .................847,695 .......................238 ..........XXX............. .................847,933 ........................0.0 .................852,529 ........................0.0 ...........XXX............ .................847,93313.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. ............17,284,794 .................922,513 ..........XXX............. ............18,207,307 ........................0.0 ............47,682,034 ........................0.1 ...........XXX............ ............18,207,30713.4 Other Loan-Backed and Structured Securities....................................... .............................. ..........183,325,512 ..........140,461,194 ............95,569,693 ............44,053,809 ..........XXX............. ..........463,410,208 ........................1.1 ..........565,570,682 ........................1.3 ...........XXX............ ..........463,410,20813.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. .............................. ...........................0 ........................0.0 ...........XXX............ ...........XXX............ ...........XXX............ ...........................013.6 Totals.................................................................................................... .......1,225,504,049 .......2,321,591,199 .......3,872,241,913 .......2,212,366,482 .......1,605,183,066 ...........................0 .....11,236,886,709 ......................25.8 .....10,791,180,225 ......................25.6 ...........XXX............ .....11,236,886,70913.7 Line 13.6 as a % of Col. 7..................................................................... ......................10.9 ......................20.7 ......................34.5 ......................19.7 ......................14.3 ........................0.0 ....................100.0 ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............ ....................100.013.8 Line 13.6 as a % of Line 10.6, Col. 7, Section 10.................................. ........................2.8 ........................5.3 ........................8.9 ........................5.1 ........................3.7 ........................0.0 ......................25.8 ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............ ......................25.8
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI10
SCHEDULE DA - VERIFICATION BETWEEN YEARSShort-Term Investments
1 2 3 4 5Other Short-term Investments in
Mortgage Investment SubsidiariesTotal Bonds Loans Assets (a) and Affiliates
1. Book/adjusted carrying value, December 31 of prior year.................................................................................. .............................................549,886,150 .............................................485,956,301 ................................................................. ..............................................63,929,849 .................................................................
2. Cost of short-term investments acquired........................................................................................................... ..........................................3,317,375,129 ..........................................1,411,954,494 ................................................................. ..........................................1,905,420,635 .................................................................
3. Accrual of discount............................................................................................................................................ ................................................2,580,435 ................................................2,580,435 ................................................................. ................................................................. .................................................................
4. Unrealized valuation increase (decrease).......................................................................................................... ..............................................................0 ................................................................. ................................................................. ................................................................. .................................................................
5. Total gain (loss) on disposals............................................................................................................................ .....................................................62,701 .....................................................62,701 ................................................................. ................................................................. .................................................................
6. Deduct consideration received on disposals...................................................................................................... ..........................................3,519,729,100 ..........................................1,673,655,752 ................................................................. ..........................................1,846,073,348 .................................................................
7. Deduct amortization of premium........................................................................................................................ ................................................1,965,559 ................................................1,965,559 ................................................................. ................................................................. .................................................................
8. Total foreign exchange change in book/adjusted carrying value........................................................................ ..............................................................0 ................................................................. ................................................................. ................................................................. .................................................................
9. Deduct current year's other-than-temporary impairment recognized.................................................................. ..............................................................0 ................................................................. ................................................................. ................................................................. .................................................................
10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)............................................ .............................................348,209,756 .............................................224,932,620 ..............................................................0 .............................................123,277,136 ..............................................................0
11. Deduct total nonadmitted amounts.................................................................................................................... ..............................................................0 ................................................................. ................................................................. ................................................................. .................................................................
12. Statement value at end of current period (Line 10 minus Line 11)..................................................................... .............................................348,209,756 .............................................224,932,620 ..............................................................0 .............................................123,277,136 ..............................................................0
(a) Indicate the category of such assets, for example, joint ventures, transportation equipment:........................ Exempt Money Market Mutual Funds and All Other Money Market Mutual Funds.
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI11
SCHEDULE DB - PART A - VERIFICATION BETWEEN YEARS Options, Caps, Floors, Collars, Swaps and Forwards
1. Book/Adjusted Carrying Value, December 31, prior year (Line 9, prior year)......................................................................................................................................... 22,134,650
2. Cost paid/(consideration received) on additions:2.1 Current year paid/(consideration received) at time of acquisition, still open, Section 1, Column 12.................................................. 3,096,3422.2 Current year paid/(consideration received) at time of acquisition, terminated, Section 2, Column 14............................................... (8,980,470) (5,884,128)
3. Unrealized valuation increase/(decrease):3.1 Section 1, Column 17......................................................................................................................................................................... 779,8333.2 Section 2, Column 19......................................................................................................................................................................... 172,900 952,733
4. Total gain (loss) on termination recognized, Section 2, Column 22........................................................................................................................................................ 6,119,582
5. Considerations received/(paid) on terminations, Section 2, Column 15.................................................................................................................................................. 6,336,290
6. Amortization:6.1 Section 1, Column 19.........................................................................................................................................................................6.2 Section 2, Column 21......................................................................................................................................................................... 0
7. Adjustment to the Book/Adjusted Carrying Value of hedged item:7.1 Section 1, Column 20.........................................................................................................................................................................7.2 Section 2, Column 23......................................................................................................................................................................... 7,925,782 7,925,782
8. Total foreign exchange change in Book/Adjusted Carrying Value:8.1 Section 1, Column 18......................................................................................................................................................................... 1,975,4018.2 Section 2, Column 20......................................................................................................................................................................... (3,612,679) (1,637,278)
9. Book/Adjusted Carrying Value at end of current period (Lines 1 + 2 + 3 + 4 - 5 + 6 + 7 + 8)................................................................................................................. 23,275,051
10. Deduct nonadmitted assets.....................................................................................................................................................................................................................
11. Statement value at end of current period (Line 9 minus Line 10)............................................................................................................................................................ 23,275,051
SCHEDULE DB - PART B - VERIFICATION BETWEEN YEARSFutures Contracts
1. Book/Adjusted Carrying Value, December 31, prior year (Line 6 prior year).......................................................................................................................................... 24,623
2. Cumulative cash change (Section 1, Broker Name/Net Cash Deposits Footnote - Cumulative Cash Change Column)........................................................................
3.1 Add:Change in variation margin on open contracts - highly effective hedges:
3.11 Section 1, Column 15, current year minus................................................... (339,415)3.12 Section 1, Column 15, prior year.................................................................. (2,308,514) 1,969,099
Change in the valuation margin on open contracts - all other:3.13 Section 1, Column 18, current year minus................................................... (527,759)3.14 Section 1, Column 18, prior year.................................................................. 593,634 (1,121,394) 847,705
3.2 Add:Change in adjustment to basis of hedged item:
3.21 Section 1, Column 17, current year to date minus.......................................3.22 Section 1, Column 17, prior year.................................................................. 0
Change in amount recognized:3.23 Section 1, Column 19, current year to date minus....................................... (867,174)3.24 Section 1, Column 19, prior year.................................................................. (1,708,616) 841,442 841,442
3.3 Subtotal (Line 3.1 minus Line 3.2)........................................................................................................................................................................................................... 6,263
4.1 Cumulative variation margin on terminated contracts during the year (Section 2, Column 15)........................ (152,608,665)
4.2 Less:4.21 Amount used to adjust basis of hedged item (Section 2, Column 17)..........4.22 Amount recognized (Section 2, Column 16)................................................. (152,624,003) (152,624,003)
4.3 Subtotal (Line 4.1 minus Line 4.2)........................................................................................................................................................................................................... 15,338
5. Dispositions gains (losses) on contracts terminated in prior year:5.1 Total gain (loss) recognized for terminations in prior year............................................................................................................................................................5.2 Total gain (loss) adjusted into the hedged item(s) for terminations in prior year...........................................................................................................................
6. Book/Adjusted Carrying Value at end of current period (Lines 1 + 2 + 3.3 - 4.3 - 5.1 - 5.2)................................................................................................................... 15,549
7. Deduct nonadmitted assets.....................................................................................................................................................................................................................
8. Statement value at end of current period (Line 6 minus Line 7).............................................................................................................................................................. 15,549
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI12, SI13
Sch. DB - Pt. C - Sn. 1NONE
Sch. DB - Pt. C - Sn. 2NONE
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI14
SCHEDULE DB - VERIFICATIONVerification of Book/Adjusted Carrying Value, Fair Value and Potential Exposure of all Open Derivative Contracts
Book/Adjusted Carrying Value Check
1. Part A, Section 1, Column 14................................................................................................................................................................... 23,275,055
2. Part B, Section 1, Column 15 plus Part B, Section 1 Footnote-Total Ending Cash Balance................................................................... 15,549
3. Total (Line 1 plus Line 2)....................................................................................................................................................................................................................... 23,290,604
4. Part D, Section 1, Column 5.................................................................................................................................................................... 36,048,624
5. Part D, Section 1, Column 6.................................................................................................................................................................... (12,758,020)
6. Total (Line 3 minus Line 4 minus Line 5).................................................................................................................................................................................................. 0
Fair Value Check
7. Part A, Section 1, Column 16................................................................................................................................................................... 23,392,302
8. Part B, Section 1, Column 13................................................................................................................................................................... 2,691,802
9. Total (Line 7 plus Line 8)........................................................................................................................................................................................................................... 26,084,104
10. Part D, Section 1, Column 8.................................................................................................................................................................... 38,724,877
11. Part D, Section 1, Column 9.................................................................................................................................................................... (12,640,773)
12. Total (Line 9 minus Line 10 minus Line 11).............................................................................................................................................................................................. 0
Potential Exposure Check
13. Part A, Section 1, Column 21................................................................................................................................................................... 2,712,795
14. Part B, Section 1, Column 20...................................................................................................................................................................
15. Part D, Section 1, Column 11.................................................................................................................................................................. 2,712,795
16. Total (Line 13 plus Line 14 minus Line 15)............................................................................................................................................................................................... 0
Annual Statement for the year 2016 of the Thrivent Financial for Lutherans
SI15
SCHEDULE E - VERIFICATION BETWEEN YEARSCash Equivalents
1 2 3Total Bonds Other (a)
1. Book/adjusted carrying value, December 31 of prior year.................................................................. .......................1,104,801,866 .......................1,104,801,866 ...............................................
2. Cost of cash equivalents acquired...................................................................................................... .....................34,985,179,439 .....................34,985,179,439 ...............................................
3. Accrual of discount.............................................................................................................................. ..............................7,726,586 ..............................7,726,586 ...............................................
4. Unrealized valuation increase (decrease)........................................................................................... ............................................0 ............................................... ...............................................
5. Total gain (loss) on disposals.............................................................................................................. .....................................8,837 .....................................8,837 ...............................................
6. Deduct consideration received on disposals....................................................................................... .....................34,677,792,994 .....................34,677,792,994 ...............................................
7. Deduct amortization of premium......................................................................................................... .................................818,202 .................................818,202 ...............................................
8. Total foreign exchange change in book/adjusted carrying value........................................................ ............................................0 ............................................... ...............................................
9. Deduct current year's other-than-temporary impairment recognized.................................................. ............................................0 ............................................... ...............................................
10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)........................... .......................1,419,105,532 .......................1,419,105,532 ............................................0
11. Deduct total nonadmitted amounts..................................................................................................... ............................................0 ............................................... ...............................................
12. Statement value at end of current period (Line 10 minus Line 11)..................................................... .......................1,419,105,532 .......................1,419,105,532 ............................................0
(a) Indicate the category of such investments, for example, joint ventures, transportation equipment:...