*56014 2017 2010010 0* annual statement...fraternal orders - association edition *56014 2017 2010010...
TRANSCRIPT
FRATERNAL ORDERS - ASSOCIATION EDITION
*56014201720100100*
ANNUAL STATEMENTFor the Year Ended December 31, 2017
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
OTHERDavid Scott Royal # 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 FinancialChristopher Joseph Kopka President, Thrivent Church
Solutions
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 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 2018 b. If no 1. State the amendment number
2. Date filed3. Number of pages attached
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
2
ASSETSCurrent Year Prior Year
1 2 3 4Net Admitted
Nonadmitted Assets NetAssets Assets (Cols. 1 - 2) Admitted Assets
1. Bonds (Schedule D)........................................................................................................... .........43,291,168,650 .................................... .........43,291,168,650 .........41,908,313,000
2. Stocks (Schedule D):
2.1 Preferred stocks....................................................................................................... ..............156,454,194 .................................... ..............156,454,194 ..............125,272,550
2.2 Common stocks....................................................................................................... ...........1,984,119,115 .................................... ...........1,984,119,115 ...........1,587,930,241
3. Mortgage loans on real estate (Schedule B):
3.1 First liens.................................................................................................................. ...........8,202,140,642 .................................... ...........8,202,140,642 ...........7,775,910,151
3.2 Other than first liens................................................................................................. .................................... .................................... .................................0 ....................................
4. Real estate (Schedule A):
4.1 Properties occupied by the company (less $..........0encumbrances)........................................................................................................ .................44,807,224 .................................... .................44,807,224 .................53,388,403
4.2 Properties held for the production of income (less $..........0encumbrances)........................................................................................................ .................................... .................................... .................................0 ....................................
4.3 Properties held for sale (less $..........0 encumbrances).......................................... .................14,168,844 .................................... .................14,168,844 ...................1,923,400
5. Cash ($.....(61,217,719), Schedule E-Part 1), cash equivalents ($.....1,495,599,625,Schedule E-Part 2) and short-term investments ($.....138,879,441, Schedule DA)......... ...........1,573,261,347 .................................... ...........1,573,261,347 ...........1,730,644,406
6. Contract loans (including $..........0 premium notes).......................................................... ...........1,162,245,335 ...................1,606,542 ...........1,160,638,792 ...........1,164,441,087
7. Derivatives (Schedule DB)................................................................................................. .................47,423,799 .................................... .................47,423,799 .................36,048,624
8. Other invested assets (Schedule BA)................................................................................ ...........3,357,282,856 ...................3,655,773 ...........3,353,627,083 ...........3,062,224,344
9. Receivables for securities.................................................................................................. .................49,535,189 .................................... .................49,535,189 .................69,942,386
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)......................................................... .........59,882,607,195 ...................5,262,315 .........59,877,344,880 .........57,516,038,593
13. Title plants less $..........0 charged off (for Title insurers only)........................................... .................................... .................................... .................................0 ....................................
14. Investment income due and accrued................................................................................. ..............432,088,961 .................................... ..............432,088,961 ..............429,597,930
15. Premiums and considerations:
15.1 Uncollected premiums and agents' balances in the course of collection............... ...................8,503,484 .................................... ...................8,503,484 ...................7,570,166
15.2 Deferred premiums, agents' balances and installments booked but deferredand not yet due (including $..........0 earned but unbilled premiums)...................... ..............112,556,578 .................................... ..............112,556,578 ..............117,735,272
15.3 Accrued retrospective premiums ($..........0) and contracts subject toredetermination ($..........0)....................................................................................... .................................... .................................... .................................0 ....................................
16. Reinsurance:
16.1 Amounts recoverable from reinsurers..................................................................... ...................3,581,350 .................................... ...................3,581,350 ...................2,534,931
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......................................................... .................60,670,662 .................49,662,276 .................11,008,387 ...................7,914,560
21. Furniture and equipment, including health care delivery assets ($..........0)..................... .................17,812,825 .................17,812,825 .................................0 ....................................
22. Net adjustment in assets and liabilities due to foreign exchange rates............................ .................................... .................................... .................................0 ....................................
23. Receivables from parent, subsidiaries and affiliates......................................................... .................16,957,124 .................................... .................16,957,124 .................16,062,246
24. Health care ($..........0) and other amounts receivable...................................................... ...................7,394,249 ...................7,394,249 .................................0 ....................................
25. Aggregate write-ins for other-than-invested assets........................................................... .................49,931,708 .................34,702,758 .................15,228,950 .................18,377,326
26. Total assets excluding Separate Accounts, Segregated Accounts and ProtectedCell Accounts (Lines 12 to 25)........................................................................................... .........60,592,104,137 ..............114,834,423 .........60,477,269,714 .........58,115,831,025
27. From Separate Accounts, Segregated Accounts and Protected Cell Accounts............... .........30,491,548,875 .................................... .........30,491,548,875 .........26,717,705,243
28. TOTAL (Lines 26 and 27).................................................................................................. .........91,083,653,012 ..............114,834,423 .........90,968,818,589 .........84,833,536,268
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............................................................................................................... .................27,117,100 .................27,117,100 .................................0 ....................................2502. Miscellaneous accounts receivable................................................................................... .................17,940,763 ...................2,711,813 .................15,228,950 .................18,377,3262503. Unsecured loans................................................................................................................ ...................3,740,836 ...................3,740,836 .................................0 ....................................2598. Summary of remaining write-ins for Line 25 from overflow page...................................... ...................1,133,009 ...................1,133,009 .................................0 .................................02599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above).......................................... .................49,931,708 .................34,702,758 .................15,228,950 .................18,377,326
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
3
LIABILITIES, SURPLUS AND OTHER FUNDS1 2
Current Year Prior Year1. Aggregate reserve for life contracts (Exhibit 5, Line 9999999) (including $..........0 Modco Reserve)................................................. ..............39,175,168,273 ..............38,371,564,9282. Aggregate reserve for accident and health contracts (Exhibit 6, Line 16, Col. 1) (including $.........0 Modco Reserve)...................... ................6,204,360,550 ................5,654,855,6523. Liability for deposit-type contracts (Exhibit 7, Line 14, Col. 1) (including $..........0 Modco Reserve)................................................... ................3,420,626,783 ................3,272,027,2734. Contract claims:
4.1 Life (Exhibit 8, Part 1, Line 4.4, Column 1 less sum of Columns 9, 10 and 11)......................................................................... ...................298,728,640 ...................260,387,3054.2 Accident and health (Exhibit 8, Part 1, Line 4.4, sum of Columns 9, 10 and 11)....................................................................... .....................39,313,686 .....................35,305,048
5. Refunds due and unpaid (Exhibit 4, Line 10)........................................................................................................................................ ..........................835,624 ..........................686,3776. Provision for refunds payable in following calendar year-estimated amounts:
6.1 Apportioned for payment.............................................................................................................................................................. ...................319,553,185 ...................316,998,7696.2 Not yet apportioned...................................................................................................................................................................... ......................................... .........................................
7. Premiums and annuity considerations for life and accident and health contracts received in advance less $..........0discount; including $.....10,554,617 accident and health premiums (Exhibit 1, Part 1, Col. 1, sum of Lines 4 and 14)...................... .....................15,449,637 .....................15,464,039
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)............................................................................................................................... ...................490,742,923 ...................416,344,286
9. Commissions to fieldworkers due or accrued-life and annuity contracts $.....9,268,428 ; accident and health $......999,051and deposit-type contract funds $.....73,715......................................................................................................................................... .....................10,341,194 .......................8,813,414
10. Commissions and expense allowances payable on reinsurance assumed......................................................................................... ......................................... .........................................11. General expenses due or accrued (Exhibit 2, Line 12, Col. 7)............................................................................................................. .....................69,120,805 .....................62,237,14812. Transfers to Separate Accounts due or accrued (net) (including $.....(543,102,734) accrued for expense allowances
recognized in reserves).......................................................................................................................................................................... ..................(582,457,362) ..................(567,485,353)13. Taxes, licenses and fees due or accrued (Exhibit 3, Line 8, Col. 6)..................................................................................................... .......................5,835,684 .......................9,486,95414. Unearned investment income................................................................................................................................................................ .......................5,762,876 .......................5,781,30915. Amounts withheld or retained by Society as agent or trustee............................................................................................................... .....................12,007,450 .....................11,504,63616. Amounts held for fieldworkers' account, including $..........0 fieldworkers' credit balances.................................................................. ......................................... .........................................17. Remittances and items not allocated..................................................................................................................................................... .....................24,983,941 .....................35,632,92118. Net adjustment in assets and liabilities due to foreign exchange rates................................................................................................ ......................................... .........................................19. Liability for benefits for employees and fieldworkers if not included above.......................................................................................... ...................412,874,411 ...................380,600,33020. Borrowed money $..........0 and interest thereon $..........0.................................................................................................................... ......................................... .........................................21. Miscellaneous liabilities:
21.1 Asset valuation reserve (AVR, Line 16, Col. 7)........................................................................................................................... ................1,217,295,599 ................1,099,299,99821.2 Reinsurance in unauthorized and certified ($..........0) companies.............................................................................................. ......................................... .........................................21.3 Funds held under reinsurance treaties with unauthorized and certified ($..........0) reinsurers.................................................. ......................................... .........................................21.4 Payable to subsidiaries and affiliates........................................................................................................................................... .......................1,622,510 ..........................754,90321.5 Drafts outstanding........................................................................................................................................................................ ......................................... .........................................21.6 Funds held under coinsurance.................................................................................................................................................... ......................................... .........................................21.7 Derivatives.................................................................................................................................................................................... .....................53,144,689 .....................12,758,02021.8 Payable for securities................................................................................................................................................................... ...................555,709,394 ...................384,438,71821.9 Payable for securities lending...................................................................................................................................................... ...................364,654,787 ...................523,112,437
22. Aggregate write-ins for liabilities............................................................................................................................................................ ...................136,027,615 ...................126,187,84223. Total liabilities excluding Separate Accounts business (Lines 1 to 22)................................................................................................ ..............52,251,702,893 ..............50,436,756,95524. From Separate Accounts statement...................................................................................................................................................... ..............30,447,788,605 ..............26,671,165,38925. Total liabilities (Lines 23 and 24)........................................................................................................................................................... ..............82,699,491,497 ..............77,107,922,34426. 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.................................................................................................................................................................................. ................8,268,827,092 ................7,725,113,92430. Total (Lines 26 through 29) (Page 4, Line 47) (including $.....43,760,266 in Separate Accounts statement)..................................... ................8,269,327,092 ................7,725,613,92431. Totals (Lines 25 + 30) (Page 2, Line 28, Col. 3)................................................................................................................................... ..............90,968,818,589 ..............84,833,536,268
DETAILS OF WRITE-INS2201. Postretirement benefit liability................................................................................................................................................................ ...................120,451,893 ...................111,408,8382202. Other liabilities........................................................................................................................................................................................ .....................15,575,722 .....................14,779,0042203. ................................................................................................................................................................................................................ ......................................... .........................................2298. Summary of remaining write-ins for Line 22 from overflow page.......................................................................................................... ......................................0 ......................................02299. Totals (Lines 2201 through 2203 plus 2298) (Line 22 above).............................................................................................................. ...................136,027,615 ...................126,187,8422601. ................................................................................................................................................................................................................ ......................................... .........................................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 2017 of the Thrivent Financial for Lutherans
4
SUMMARY OF OPERATIONS1 2
Current Year Prior Year1. Premiums and annuity considerations for life and accident and health contracts (Exhibit 1, Part 1, Line 20.4, Col. 1).................................... ..........5,020,628,031 ..........5,450,605,9282. Considerations for supplementary contracts with life contingencies.................................................................................................................. .............112,819,185 ...............78,072,9283. Net investment income (Exhibit of Net Investment Income, Line 17)................................................................................................................. ..........2,709,399,598 ..........2,768,468,2284. Amortization of Interest Maintenance Reserve (IMR, Line 5)............................................................................................................................. .............129,924,398 .............118,180,6955. Separate Accounts net gain from operations excluding unrealized gains or losses.......................................................................................... ................................... .................2,500,0006. Commissions and expense allowances on reinsurance ceded (Exhibit 1, Part 2, Line 26.1, Col. 1)................................................................ ...............29,764,338 ...............27,813,2327. Reserve adjustments on reinsurance ceded....................................................................................................................................................... ................................... ...................................8. Miscellaneous Income:
8.1 Income from fees associated with investment management, administration and contract guarantees from Separate Accounts............ .............648,687,730 .............580,104,4568.2 Charges and fees for deposit-type contracts............................................................................................................................................... ................................... ...................................8.3 Aggregate write-ins for miscellaneous income............................................................................................................................................ ...............16,822,415 ...............17,480,688
9. Totals (Lines 1 to 8.3).......................................................................................................................................................................................... ..........8,668,045,695 ..........9,043,226,15710. Death benefits...................................................................................................................................................................................................... ..........1,028,533,197 ..........1,005,019,66111. Matured endowments (excluding guaranteed annual pure endowments)......................................................................................................... .................9,470,731 .................9,928,65212. Annuity benefits.................................................................................................................................................................................................... .............791,842,989 .............718,538,98313. Disability benefits and benefits under accident and health contracts, including premiums waived $.....37,767,642........................................ .............373,843,154 .............348,279,23614. Surrender benefits and withdrawals for life contracts......................................................................................................................................... ..........2,316,834,180 ..........1,927,702,00515. Interest and adjustments on contract or deposit-type contracts funds............................................................................................................... .............120,841,215 .............121,218,10016. Payments on supplementary contracts with life contingencies........................................................................................................................... .............207,917,467 .............215,841,44317. Increase in aggregate reserve for life and accident and health contracts.......................................................................................................... ..........1,441,298,579 ..........1,711,780,05818. Totals (Lines 10 to 17)......................................................................................................................................................................................... ..........6,290,581,512 ..........6,058,308,13719. Commissions on premiums, annuity considerations and deposit-type contract funds (direct business only)
(Exhibit 1, Part 2, Line 31, Col. 1 less Col. 5)...................................................................................................................................................... .............270,208,690 .............285,876,41320. 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)..................................................................... .............797,410,583 .............747,338,14422. Insurance taxes, licenses and fees (Exhibit 3, Line 6, Cols. 1, 2, 3 and 5)........................................................................................................ ...............43,643,012 ...............33,949,25023. Increase in loading on deferred and uncollected premiums............................................................................................................................... .....................(72,210) ................(4,341,539)24. Net transfers to or (from) Separate Accounts net of reinsurance....................................................................................................................... .............483,176,251 .............902,214,79725. Aggregate write-ins for deductions...................................................................................................................................................................... ...............21,053,081 ...............33,248,78026. Totals (Lines 18 to 25)......................................................................................................................................................................................... ..........7,906,000,919 ..........8,056,593,98227. Net gain from operations before refunds to members (Line 9 minus Line 26)................................................................................................... .............762,044,776 .............986,632,17528. Refunds to members (Exhibit 4, Line 17, Cols. 1 + 2)......................................................................................................................................... .............319,055,241 .............315,385,41029. Net gain from operations after refunds to members and before realized capital gains (losses) (Line 27 minus Line 28)................................ .............442,989,535 .............671,246,76530. Net realized capital gains (losses) less capital gains tax of $..........0 (excluding $.....204,323,032 transferred to the IMR)............................. ...............73,647,048 ............(115,438,953)31. Net income (Lines 29 + 30).................................................................................................................................................................................. .............516,636,583 .............555,807,813
SURPLUS ACCOUNT32. Surplus, December 31, previous year (Page 3, Line 30, Col. 2)........................................................................................................................ ..........7,725,613,924 ..........7,126,496,31933. Net income from operations (Line 31)................................................................................................................................................................. .............516,636,583 .............555,807,81334. Change in net unrealized capital gains (losses) less capital gains tax of $..........0............................................................................................ ...............84,988,039 ...............75,613,23135. Change in net unrealized foreign exchange capital gain (loss).......................................................................................................................... ...................(252,977) ................(7,727,465)36. Change in nonadmitted assets............................................................................................................................................................................ ..............(10,572,984) ................(6,103,104)37. 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...................................................................................................................................................................... ............(117,995,603) ..............(99,742,243)40. Surplus (contributed to) withdrawn from Separate Accounts during period....................................................................................................... ................................... .................2,500,00041. Other changes in surplus in Separate Accounts statement................................................................................................................................ ................(2,779,584) ................(8,258,194)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............................................................................................................................................ ...............73,689,697 ...............87,027,56746. Net change in surplus for the year (Lines 33 through 45)................................................................................................................................... .............543,713,169 .............599,117,60547. Surplus December 31, current year (Lines 32 + 46) (Page 3, Line 30).............................................................................................................. ..........8,269,327,092 ..........7,725,613,924
DETAILS OF WRITE-INS08.301. Miscellaneous income.................................................................................................................................................................................. .................1,142,316 .................1,675,03308.302. Fees from third party for services provided................................................................................................................................................. ...............15,680,099 ...............15,805,65508.303. ...................................................................................................................................................................................................................... ................................... ...................................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).......................................................................................................... ...............16,822,415 ...............17,480,6882501. Retirement and disability benefits................................................................................................................................................................ .................3,792,902 .................3,846,3862502. Employee benefits........................................................................................................................................................................................ .................1,580,080 .................1,579,2382503. Expenses related to services provided to third party................................................................................................................................... ...............15,680,099 ...............15,723,1552598. Summary of remaining write-ins for Line 25 from overflow page................................................................................................................ ...............................0 ...............12,100,0002599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above).................................................................................................................... ...............21,053,081 ...............33,248,7804501. Pension liability adjustment.......................................................................................................................................................................... ..............(10,213,112) ...............87,027,5674502. Reserve Adjustment..................................................................................................................................................................................... ...............83,902,809 ...................................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).................................................................................................................... ...............73,689,697 ...............87,027,567
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
5
CASH FLOW1 2
Current Year Prior Year CASH FROM OPERATIONS
1. Premiums collected net of reinsurance.......................................................................................................................................... ..................5,133,265,512 ..................5,523,096,2902. Net investment income................................................................................................................................................................... ..................2,316,040,790 ..................2,288,516,1973. Miscellaneous income.................................................................................................................................................................... .....................695,274,483 .....................625,398,3744. Total (Lines 1 through 3)................................................................................................................................................................ ..................8,144,580,785 ..................8,437,010,8615. Benefit and loss related payments................................................................................................................................................. ..................4,696,109,266 ..................4,214,641,3836. Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts.......................................................... .....................498,148,261 .....................923,262,5437. Commissions, expenses paid and aggregate write-ins for deductions......................................................................................... ..................1,118,239,479 ..................1,064,911,8568. Dividends paid to policyholders..................................................................................................................................................... .....................316,351,578 .....................310,522,5359. Federal and foreign income taxes paid (recovered) net of $..........0 tax on capital gains (losses).............................................. ........................................... ...........................................10. Total (Lines 5 through 9)................................................................................................................................................................ ..................6,628,848,584 ..................6,513,338,31611. Net cash from operations (Line 4 minus Line 10).......................................................................................................................... ..................1,515,732,201 ..................1,923,672,544
CASH FROM INVESTMENTS12. Proceeds from investments sold, matured or repaid:
12.1 Bonds................................................................................................................................................................................... ................11,135,728,657 ................17,551,344,81312.2 Stocks................................................................................................................................................................................... ..................1,026,955,122 .....................922,869,01112.3 Mortgage loans.................................................................................................................................................................... .....................822,822,767 .....................808,847,23612.4 Real estate........................................................................................................................................................................... ........................................... ............................758,74012.5 Other invested assets.......................................................................................................................................................... .....................831,505,181 .....................883,482,27512.6 Net gains or (losses) on cash, cash equivalents and short-term investments................................................................... .........................2,012,239 ..............................71,53812.7 Miscellaneous proceeds...................................................................................................................................................... .....................191,677,858 ...........................................12.8 Total investment proceeds (Lines 12.1 to 12.7).................................................................................................................. ................14,010,701,823 ................20,167,373,613
13. Cost of investments acquired (long-term only):13.1 Bonds................................................................................................................................................................................... ................12,358,660,062 ................18,924,248,95813.2 Stocks................................................................................................................................................................................... ..................1,189,071,726 ..................1,008,097,58613.3 Mortgage loans.................................................................................................................................................................... ..................1,253,302,223 ..................1,033,614,56813.4 Real estate........................................................................................................................................................................... .........................4,786,827 .......................13,038,07713.5 Other invested assets.......................................................................................................................................................... .....................718,491,780 .....................592,438,85613.6 Miscellaneous applications.................................................................................................................................................. .......................40,022,841 .....................791,293,89513.7 Total investments acquired (Lines 13.1 to 13.6)................................................................................................................. ................15,564,335,459 ................22,362,731,940
14. Net increase (decrease) in contract loans and premium notes..................................................................................................... ........................(4,542,070) ........................(5,624,359)15. Net cash from investments (Line 12.8 minus Lines 13.7 minus Line 14)..................................................................................... .................(1,549,091,565) .................(2,189,733,967)
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............................................................................... .......................36,729,395 .......................56,948,07116.5 Dividends to stockholders.................................................................................................................................................... ........................................... ...........................................16.6 Other cash provided (applied)............................................................................................................................................. ....................(160,753,090) .....................131,433,681
17. Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)................................. ....................(124,023,694) .....................188,381,752
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).......................................... ....................(157,383,059) ......................(77,679,671)19. Cash, cash equivalents and short-term investments:
19.1 Beginning of year................................................................................................................................................................. ..................1,730,644,406 ..................1,808,324,077
19.2 End of year (Line 18 plus Line 19.1)................................................................................................................................... ..................1,573,261,347 ..................1,730,644,406
Note: Supplemental disclosures of cash flow information for non-cash transactions:20.0001 Mortgage Loan Refinancing................................................................................................................................................ .....................144,853,211 .....................142,612,793
Annual Statement for the year 2017 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................................................................................. ...........5,020,628,031 ........1,633,930,239 ........3,054,271,946 ............................... ...........332,425,846 .............................. ........5,020,628,031 ............................... ...............................2. Considerations for supplementary contracts with life contingencies..................................................................................................... ..............112,819,185 ............................... ............................... ...........112,819,185 ............................... .............................. ...........112,819,185 ............................... ...............................3. Net investment income........................................................................................................................................................................ ...........2,709,399,597 ........1,203,573,120 ...........713,663,776 ...........181,131,304 ...........322,434,889 ..........288,596,508 ........2,709,399,597 ............................... ...............................4. Amortization of interest maintenance reserve (IMR)............................................................................................................................ ..............129,924,398 .............24,028,931 .............18,936,612 ...............5,709,867 ...............5,495,736 ............75,753,252 ...........129,924,398 ............................... ...............................5. Separate Accounts net gain from operations excluding unrealized gains or losses.............................................................................. ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................6. Commissions and expense allowances on reinsurance ceded............................................................................................................. ................29,764,338 .............29,764,338 ............................... ............................... ............................... .............................. .............29,764,338 ............................... ...............................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... ..............648,687,730 .............42,714,782 ...........605,068,350 ..................904,598 ............................... .............................. ...........648,687,730 ............................... ...............................8.2 Charges and fees for deposit-type contracts................................................................................................................................ ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................8.3 Aggregate write-ins for miscellaneous income.............................................................................................................................. ................16,822,416 ...................18,263 ............................0 ............................0 ............................0 ............16,804,153 .............16,822,416 ............................0 ............................0
9. Totals (Lines 1 to 8.3).......................................................................................................................................................................... ...........8,668,045,695 ........2,934,029,673 ........4,391,940,684 ...........300,564,954 ...........660,356,471 ..........381,153,913 ........8,668,045,695 ............................0 ............................010. Death benefits..................................................................................................................................................................................... ...........1,028,533,197 ........1,028,533,197 ............................... ............................... ............................... .............................. ........1,028,533,197 ............................... ...............................11. Matured endowments (excluding guaranteed annual pure endowments)............................................................................................. .................9,470,731 ...............9,470,731 ............................... ............................... ............................... .............................. ...............9,470,731 ............................... ...............................12. Annuity benefits................................................................................................................................................................................... ..............791,842,989 ............................... ...........791,842,989 ............................... ............................... .............................. ...........791,842,989 ............................... ...............................13. Disability benefits and benefits under accident and health contracts, including premiums waived $.....37,767,642.............................. ..............373,843,155 .............20,841,876 ...................29,742 ............................... ...........352,971,537 .............................. ...........373,843,155 ............................... ...............................14. Surrender benefits and withdrawals for life contracts........................................................................................................................... ...........2,316,834,180 ...........389,709,418 ........1,921,269,186 ...............5,855,276 ........................300 .............................. ........2,316,834,180 ............................... ...............................15. Interest and adjustments on contract or deposit-type contract funds.................................................................................................... ..............120,841,214 ...............7,947,139 .............19,414,841 .............93,472,621 .....................6,613 .............................. ...........120,841,214 ............................... ...............................16. Payments on supplementary contracts with life contingencies............................................................................................................. ..............207,917,467 ............................... ............................... ...........207,917,467 ............................... .............................. ...........207,917,467 ............................... ...............................17. Increase in aggregate reserve for life and accident and health contracts............................................................................................. ...........1,441,298,578 ...........579,853,798 ...........336,175,388 ............(24,235,505) ...........549,504,897 .............................. ........1,441,298,578 ............................... ...............................18. Totals (Lines 10 to 17)......................................................................................................................................................................... ...........6,290,581,511 ........2,036,356,159 ........3,068,732,146 ...........283,009,859 ...........902,483,347 ...........................0 ........6,290,581,511 ............................0 ............................019. Commissions on premiums and annuity considerations and deposit-type funds (direct business only)................................................ ..............270,208,691 .............91,112,712 ...........150,864,048 ...............1,939,957 .............26,291,974 .............................. ...........270,208,691 ............................... ...............................20. Commissions and expense allowances on reinsurance assumed........................................................................................................ ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................21. General insurance expenses and fraternal expenses........................................................................................................................... ..............797,410,584 ...........237,909,561 ...........333,596,347 ...............9,692,824 .............38,837,906 .............................. ...........620,036,638 ...........177,373,946 ...............................22. Insurance taxes, licenses and fees..................................................................................................................................................... ................43,643,013 .............16,580,016 .............21,412,675 ..................608,438 ...............2,709,538 .............................. .............41,310,667 ...............2,332,346 ...............................23. Increase in loading on deferred and uncollected premiums.................................................................................................................. .....................(72,210) ..................(72,199) .........................(11) ............................... ............................... .............................. ..................(72,210) ;.............................. ...............................24. Net transfers to or (from) Separate Accounts net of reinsurance.......................................................................................................... ..............483,176,251 .............54,094,860 ...........435,847,617 .............(6,766,226) ............................... .............................. ...........483,176,251 ............................... ...............................25. Aggregate write-ins for deductions...................................................................................................................................................... ................21,053,081 ...........107,974,623 ...........123,229,239 ...............7,501,799 ..........(104,716,287) ............66,769,999 ...........200,759,373 ..........(179,706,292) ............................026. Totals (Lines 18 to 25)......................................................................................................................................................................... ...........7,906,000,921 ........2,543,955,732 ........4,133,682,061 ...........295,986,651 ...........865,606,478 ............66,769,999 ........7,906,000,921 ............................0 ............................027. Net gain from operations before refunds to members (Line 9 minus Line 26)....................................................................................... ..............762,044,774 ...........390,073,941 ...........258,258,623 ...............4,578,303 ..........(205,250,007) ..........314,383,914 ...........762,044,774 ............................0 ............................028. Refunds to members........................................................................................................................................................................... ..............319,055,241 ...........310,649,415 ..................292,468 ...............1,546,093 ...............6,567,265 .............................. ...........319,055,241 ............................... ...............................29. Net gain from operations after refunds to members and before realized capital gains or (losses) (Line 27 minus Line 28)................... ..............442,989,533 .............79,424,526 ...........257,966,155 ...............3,032,210 ..........(211,817,272) ..........314,383,914 ...........442,989,533 ............................0 ............................0
DETAILS OF WRITE-INS08.301. Miscellaneous income.................................................................................................................................................................. .................1,142,317 ...................18,263 ............................... ............................... ............................... ..............1,124,054 ...............1,142,317 ............................... ...............................08.302. Fees from third party for services provided................................................................................................................................... ................15,680,099 ............................... ............................... ............................... ............................... ............15,680,099 .............15,680,099 ............................... ...............................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)................................................................................... ................16,822,416 ...................18,263 ............................0 ............................0 ............................0 ............16,804,153 .............16,822,416 ............................0 ............................02501. Retirement and disability benefits................................................................................................................................................ .................3,792,902 ............................... ............................... ............................... ............................... ..............3,792,902 ...............3,792,902 ............................... ...............................2502. Employee benefits....................................................................................................................................................................... .................1,580,080 ............................... ............................... ............................... ............................... ..............1,580,080 ...............1,580,080 ............................... ...............................2503. Expenses related to services provided to third party..................................................................................................................... ................15,680,099 ............................... ............................... ............................... ............................... ............15,680,099 .............15,680,099 ............................... ...............................2598. Summary of remaining write-ins for Item 25 from overflow page.................................................................................................. ...............................0 ...........107,974,623 ...........123,229,239 ...............7,501,799 ..........(104,716,287) ............45,716,918 ...........179,706,292 ..........(179,706,292) ............................02599. Totals (Lines 2501 through 2503 plus 2598 above) (Line 25 above)............................................................................................. ................21,053,081 ...........107,974,623 ...........123,229,239 ...............7,501,799 ..........(104,716,287) ............66,769,999 ...........200,759,373 ..........(179,706,292) ............................0
Annual Statement for the year 2017 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................................................................................................................................................................ ...............................................38,371,564,929 ...............................................22,889,574,444 ...............................................13,905,199,395 .................................................1,576,791,090
2. Tabular net premiums or considerations...................................................................................................................................................... .................................................4,699,852,833 .................................................1,534,872,477 .................................................3,052,970,170 ...................................................112,010,186
3. Present value of disability claims incurred................................................................................................................................................... .....................................................25,675,495 .....................................................25,675,495 ........................................................................ .............................XXX....................................
4. Tabular interest........................................................................................................................................................................................... .................................................1,368,728,560 ...................................................902,574,772 ...................................................401,068,554 .....................................................65,085,234
5. Tabular less actual reserve released........................................................................................................................................................... .....................................................50,734,420 .......................................................9,271,864 .....................................................34,497,612 .......................................................6,964,944
6. Increase in reserve on account of change in valuation basis........................................................................................................................ .....................................................................0 ........................................................................ ........................................................................ ........................................................................
6.1 Change in excess of VM-20 deterministic/stochastic reserve over net premium reserve.............................................................................. .....................................................................0 ........................................................................ .............................XXX.................................... .............................XXX....................................
7. Other increases (net)................................................................................................................................................................................... .....................................................66,114,820 .....................................................63,960,920 .......................................................2,153,897 .....................................................................3
8. Totals (Lines 1 to 7)..................................................................................................................................................................................... ...............................................44,582,671,057 ...............................................25,425,929,972 ...............................................17,395,889,628 .................................................1,760,851,457
9. Tabular cost................................................................................................................................................................................................ .................................................1,104,355,814 .................................................1,104,355,814 ........................................................................ .............................XXX....................................
10. Reserves released by death........................................................................................................................................................................ ...................................................501,606,612 ...................................................501,606,612 .............................XXX.................................... .............................XXX....................................
11. Reserves released by other terminations (net)............................................................................................................................................. .................................................1,028,147,684 ...................................................405,455,235 ...................................................622,692,449 ........................................................................
12. Annuity, supplementary contract and disability payments involving life contingencies.................................................................................. .................................................2,299,683,577 .....................................................20,633,475 .................................................2,065,243,610 ...................................................213,806,492
13. Net transfers to or (from) Separate Accounts............................................................................................................................................... ...................................................473,709,096 .....................................................11,644,824 ...................................................466,631,372 ......................................................(4,567,100)
14. Total deductions (Lines 9 to 13)................................................................................................................................................................... .................................................5,407,502,783 .................................................2,043,695,960 .................................................3,154,567,431 ...................................................209,239,392
15. Reserve December 31, current year............................................................................................................................................................ ...............................................39,175,168,274 ...............................................23,382,234,012 ...............................................14,241,322,197 .................................................1,551,612,065
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
8
EXHIBIT OF NET INVESTMENT INCOME1 2
Collected EarnedDuring Year During Year
1. U.S. government bonds........................................................................................................................................................ (a)..............................48,289,287 ..................................49,226,1781.1 Bonds exempt from U.S. tax................................................................................................................................................. (a)................................................. .....................................................1.2 Other bonds (unaffiliated)...................................................................................................................................................... (a).........................1,692,405,449 .............................1,695,528,3481.3 Bonds of affiliates.................................................................................................................................................................. (a)................................................. .....................................................2.1 Preferred stocks (unaffiliated)............................................................................................................................................... (b)................................6,880,442 ....................................6,974,944
2.11 Preferred stocks of affiliates.................................................................................................................................................. (b)................................................. .....................................................2.2 Common stocks (unaffiliated)................................................................................................................................................ ..................................24,959,656 ..................................21,052,444
2.21 Common stocks of affiliates.................................................................................................................................................. ....................................7,000,000 ..................................11,012,9783. Mortgage loans..................................................................................................................................................................... (c)............................391,164,348 ................................391,140,3684. Real estate............................................................................................................................................................................ (d)..............................24,498,233 ..................................24,498,2335. Contract loans....................................................................................................................................................................... ..................................83,183,914 ..................................80,436,2036. Cash, cash equivalents and short-term investments............................................................................................................ (e)..............................20,434,258 ..................................20,172,7417. Derivative instruments........................................................................................................................................................... (f).................................................. ....................................5,155,3738. Other invested assets........................................................................................................................................................... ................................457,100,559 ................................457,048,8409. Aggregate write-ins for investment income........................................................................................................................... .......................................524,483 .......................................524,483
10. Total gross investment income............................................................................................................................................. .............................2,756,440,630 .............................2,762,771,13311. Investment expenses.................................................................................................................................................................................................................... (g)..............................43,910,51812. Investment taxes, licenses and fees, excluding federal income taxes.......................................................................................................................................... (g)................................3,039,04013. Interest expense............................................................................................................................................................................................................................ (h).................................................14. Depreciation on real estate and other invested assets................................................................................................................................................................. (i).................................6,421,97715. Aggregate write-ins for deductions from investment income........................................................................................................................................................ ..................................................016. Total deductions (Lines 11 through 15)......................................................................................................................................................................................... ..................................53,371,53517. Net investment income (Line 10 minus Line 16)........................................................................................................................................................................... .............................2,709,399,598
DETAILS OF WRITE-INS0901. Miscellaneous....................................................................................................................................................................... ....................................1,846,556 ....................................1,846,5560902. Securities Lending................................................................................................................................................................. ...................................(1,322,073) ...................................(1,322,073)0903. .............................................................................................................................................................................................. ..................................................... .....................................................0998. Summary of remaining write-ins for Line 9 from overflow page............................................................................................ ..................................................0 ..................................................00999. Totals (Lines 0901 through 0903 plus 0998) (Line 9 above)................................................................................................. .......................................524,483 .......................................524,4831501. ...................................................................................................................................................................................................................................................... .....................................................1502. ...................................................................................................................................................................................................................................................... .....................................................1503. ...................................................................................................................................................................................................................................................... .....................................................1598. Summary of remaining write-ins for Line 15 from overflow page.................................................................................................................................................. ..................................................01599. Totals (Lines 1501 through 1503 plus 1598) (Line 15 above)....................................................................................................................................................... ..................................................0
(a) Includes $.....34,077,534 accrual of discount less $.....86,847,752 amortization of premium and less $.....18,778,338 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 $..........0 for company's occupancy of its own buildings; and excludes $..........0 interest on encumbrances.(e) Includes $.....14,330,351 accrual of discount less $..........0 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 $.....6,421,977 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................................................................ ....................2,650,481 ..................................... ....................2,650,481 ..................................... .....................................1.1 Bonds exempt from U.S. tax........................................................ ..................................... ..................................... ..................................0 ..................................... .....................................1.2 Other bonds (unaffiliated)............................................................. ................183,150,867 ...................(9,639,503) ................173,511,364 ....................5,320,885 ..................31,211,7111.3 Bonds of affiliates......................................................................... ..................................... ..................................... ..................................0 ..................................... .....................................2.1 Preferred stocks (unaffiliated)...................................................... ....................5,004,771 ..................................... ....................5,004,771 ..................................... .....................................
2.11 Preferred stocks of affiliates......................................................... ..................................... ..................................... ..................................0 ..................................... .....................................2.2 Common stocks (unaffiliated)....................................................... ................106,728,483 ..................................... ................106,728,483 ................113,618,669 .....................................
2.21 Common stocks of affiliates......................................................... ..................................... ..................................... ..................................0 ..................39,901,985 .....................................3. Mortgage loans............................................................................. ..................................... ..................................... ..................................0 ..................................... .....................................4. Real estate................................................................................... ..................................... ..................................... ..................................0 ..................................... .....................................5. Contract loans.............................................................................. ..................................... ..................................... ..................................0 ..................................... .....................................6. Cash, cash equivalents and short-term investments.................... ....................2,012,239 ..................................... ....................2,012,239 ..................................... .....................................7. Derivative instruments.................................................................. .................(33,288,841) ..................................... .................(33,288,841) ....................1,020,869 .................(36,766,370)8. Other invested assets................................................................... ..................22,229,602 ......................(878,020) ..................21,351,582 .................(74,874,370) ....................5,301,6819. Aggregate write-ins for capital gains (losses)............................... ..................................0 ..................................0 ..................................0 ..................................0 ..................................0
10. Total capital gains (losses)........................................................... ................288,487,603 .................(10,517,523) ................277,970,080 ..................84,988,039 ......................(252,977)DETAILS OF WRITE-INS
0901. ..................................................................................................... ..................................... ..................................... ..................................0 ..................................... .....................................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)........ ..................................0 ..................................0 ..................................0 ..................................0 ..................................0
Annual Statement for the year 2017 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............................................................................................................. ..............................(552,256) ..............................(577,311) ............................................. ..................................25,054 ............................................. ..............................(552,256) ............................................. ............................................. 2. Deferred and accrued............................................................................................. .............................7,478,107 .............................7,478,107 ............................................. ............................................. ............................................. .............................7,478,107 ............................................. ............................................. 3. Deferred, accrued & uncollected:
3.1 Direct............................................................................................................... ...........................12,524,258 ...........................12,499,204 ............................................. ..................................25,054 ............................................. ...........................12,524,258 ............................................. .............................................3.2 Reinsurance assumed..................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................3.3 Reinsurance ceded.......................................................................................... .............................5,598,408 .............................5,598,408 ............................................. ............................................. ............................................. .............................5,598,408 ............................................. .............................................3.4 Net (Line 1 + Line 2)........................................................................................ .............................6,925,851 .............................6,900,796 ..........................................0 ..................................25,054 ..........................................0 .............................6,925,851 ..........................................0 ..........................................0
4. Advance................................................................................................................. ................................163,325 ............................................. ............................................. ................................163,325 ............................................. ................................163,325 ............................................. ............................................. 5. Line 3.4 - Line 4...................................................................................................... .............................6,762,525 .............................6,900,796 ..........................................0 ..............................(138,271) ..........................................0 .............................6,762,525 ..........................................0 ..........................................0 6. Collected during year:
6.1 Direct............................................................................................................... ......................1,527,681,540 .........................118,654,853 ......................1,377,371,330 ...........................31,655,357 ............................................. ......................1,527,681,540 ............................................. .............................................6.2 Reinsurance assumed..................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................6.3 Reinsurance ceded.......................................................................................... ...........................12,408,932 ...........................12,408,932 ............................................. ............................................. ............................................. ...........................12,408,932 ............................................. .............................................6.4 Net................................................................................................................... ......................1,515,272,608 .........................106,245,920 ......................1,377,371,330 ...........................31,655,357 ..........................................0 ......................1,515,272,608 ..........................................0 ..........................................0
7. Line 5 + Line 6.4..................................................................................................... ......................1,522,035,133 .........................113,146,717 ......................1,377,371,330 ...........................31,517,087 ..........................................0 ......................1,522,035,133 ..........................................0 ..........................................0 8. Prior year (uncollected + deferred and accrued - advance)...................................... .............................5,086,098 .............................5,063,978 ............................................. ..................................22,120 ............................................. .............................5,086,098 ............................................. ............................................. 9. First year premiums and considerations:
9.1 Direct............................................................................................................... ......................1,528,349,080 .........................119,482,784 ......................1,377,371,330 ...........................31,494,967 ............................................. ......................1,528,349,080 ............................................. .............................................9.2 Reinsurance assumed..................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................9.3 Reinsurance ceded.......................................................................................... ...........................11,400,045 ...........................11,400,045 ............................................. ............................................. ............................................. ...........................11,400,045 ............................................. .............................................9.4 Net (Line 7 - Line 8)......................................................................................... ......................1,516,949,035 .........................108,082,739 ......................1,377,371,330 ...........................31,494,967 ..........................................0 ......................1,516,949,035 ..........................................0 ..........................................0
SINGLE10. Single premiums and considerations:
10.1 Direct............................................................................................................. ......................1,012,429,667 .........................484,408,828 .........................528,020,839 ............................................. ............................................. ......................1,012,429,667 ............................................. .............................................10.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................10.3 Reinsurance ceded........................................................................................ .............................6,551,311 .............................6,551,311 ............................................. ............................................. ............................................. .............................6,551,311 ............................................. .............................................10.4 Net................................................................................................................. ......................1,005,878,356 .........................477,857,517 .........................528,020,839 ..........................................0 ..........................................0 ......................1,005,878,356 ..........................................0 ..........................................0
RENEWAL11. Uncollected............................................................................................................. ............................(1,306,274) ............................(3,320,402) ............................................. .............................2,014,128 ............................................. ............................(1,306,274) ............................................. .............................................12. Deferred and accrued............................................................................................. ...........................52,499,029 ...........................52,499,029 ............................................. ............................................. ............................................. ...........................52,499,029 ............................................. .............................................13. Deferred, accrued & uncollected:
13.1 Direct............................................................................................................. .........................132,761,869 .........................130,747,741 ............................................. .............................2,014,128 ............................................. .........................132,761,869 ............................................. .............................................13.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................13.3 Reinsurance ceded........................................................................................ ...........................81,569,113 ...........................81,569,113 ............................................. ............................................. ............................................. ...........................81,569,113 ............................................. .............................................13.4 Net (Line 11 + Line 12).................................................................................. ...........................51,192,755 ...........................49,178,628 ..........................................0 .............................2,014,128 ..........................................0 ...........................51,192,755 ..........................................0 ..........................................0
14. Advance................................................................................................................. ...........................15,286,311 .............................4,894,657 ......................................362 ...........................10,391,292 ............................................. ...........................15,286,311 ............................................. .............................................15. Line 13.4 - Line 14.................................................................................................. ...........................35,906,444 ...........................44,283,971 .....................................(362) ............................(8,377,164) ..........................................0 ...........................35,906,444 ..........................................0 ..........................................016. Collected during year:
16.1 Direct............................................................................................................. ......................2,598,818,712 ......................1,148,935,075 ......................1,148,880,007 .........................301,003,630 ............................................. ......................2,598,818,712 ............................................. .............................................16.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................16.3 Reinsurance ceded........................................................................................ ...........................99,460,004 ...........................99,293,404 ............................................. ................................166,600 ............................................. ...........................99,460,004 ............................................. .............................................16.4 Net................................................................................................................. ......................2,499,358,708 ......................1,049,641,670 ......................1,148,880,007 .........................300,837,031 ..........................................0 ......................2,499,358,708 ..........................................0 ..........................................0
17. Line 15 + Line 16.4................................................................................................. ......................2,535,265,152 ......................1,093,925,641 ......................1,148,879,645 .........................292,459,866 ..........................................0 ......................2,535,265,152 ..........................................0 ..........................................018. Prior year (uncollected + deferred and accrued - advance)...................................... ...........................37,464,512 ...........................45,935,658 .....................................(133) ............................(8,471,013) ............................................. ...........................37,464,512 ............................................. .............................................19. Renewal premiums and considerations:
19.1 Direct............................................................................................................. ......................2,604,923,181 ......................1,154,945,925 ......................1,148,879,778 .........................301,097,479 ............................................. ......................2,604,923,181 ............................................. .............................................19.2 Reinsurance assumed................................................................................... ..........................................0 ............................................. ............................................. ............................................. ............................................. ..........................................0 ............................................. .............................................19.3 Reinsurance ceded........................................................................................ .........................107,122,541 .........................106,955,942 ............................................. ................................166,600 ............................................. .........................107,122,541 ............................................. .............................................19.4 Net (Line 17 - Line 18)................................................................................... ......................2,497,800,640 ......................1,047,989,983 ......................1,148,879,778 .........................300,930,879 ..........................................0 ......................2,497,800,640 ..........................................0 ..........................................0
TOTAL20. Total premiums and annuity considerations:
20.1 Direct............................................................................................................. ......................5,145,701,928 ......................1,758,837,537 ......................3,054,271,946 .........................332,592,445 ..........................................0 ......................5,145,701,928 ..........................................0 ..........................................020.2 Reinsurance assumed................................................................................... ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................0 ..........................................020.3 Reinsurance ceded........................................................................................ .........................125,073,898 .........................124,907,298 ..........................................0 ................................166,600 ..........................................0 .........................125,073,898 ..........................................0 ..........................................020.4 Net (Lines 9.4 + 10.4 + 19.4)......................................................................... ......................5,020,628,031 ......................1,633,930,239 ......................3,054,271,946 .........................332,425,846 ..........................................0 ......................5,020,628,031 ..........................................0 ..........................................0
Annual Statement for the year 2017 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.............................................................................................................. ........................90,883,036 ........................90,456,454 ....................................254 .............................426,329 ........................................... ........................90,883,036 ........................................... ...........................................
22. All other.......................................................................................................................................... ......................197,038,062 ......................196,998,616 ...............................39,446 ........................................... ........................................... ......................197,038,062 ........................................... ...........................................
REINSURANCE COMMISSIONS AND EXPENSE ALLOWANCES INCURRED
23. First year (other than single):
23.1 Reinsurance ceded............................................................................................................... ........................10,908,036 ........................10,908,036 ........................................... ........................................... ........................................... ........................10,908,036 ........................................... ...........................................
23.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................... ........................................... ........................................... ........................................... ........................................0 ........................................... ...........................................
23.3 Net ceded less assumed....................................................................................................... ........................10,908,036 ........................10,908,036 ........................................0 ........................................0 ........................................0 ........................10,908,036 ........................................0 ........................................0
24. Single:
24.1 Reinsurance ceded............................................................................................................... .............................593,430 .............................593,430 ........................................... ........................................... ........................................... .............................593,430 ........................................... ...........................................
24.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................... ........................................... ........................................... ........................................... ........................................0 ........................................... ...........................................
24.3 Net ceded less assumed....................................................................................................... .............................593,430 .............................593,430 ........................................0 ........................................0 ........................................0 .............................593,430 ........................................0 ........................................0
25. Renewal:
25.1 Reinsurance ceded............................................................................................................... ........................18,262,872 ........................18,262,872 ........................................... ........................................... ........................................... ........................18,262,872 ........................................... ...........................................
25.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................... ........................................... ........................................... ........................................... ........................................0 ........................................... ...........................................
25.3 Net ceded less assumed....................................................................................................... ........................18,262,872 ........................18,262,872 ........................................0 ........................................0 ........................................0 ........................18,262,872 ........................................0 ........................................0
26. Totals:
26.1 Reinsurance ceded (Page 6, Line 6)..................................................................................... ........................29,764,338 ........................29,764,338 ........................................0 ........................................0 ........................................0 ........................29,764,338 ........................................0 ........................................0
26.2 Reinsurance assumed........................................................................................................... ........................................0 ........................................0 ........................................0 ........................................0 ........................................0 ........................................0 ........................................0 ........................................0
26.3 Net ceded less assumed....................................................................................................... ........................29,764,338 ........................29,764,338 ........................................0 ........................................0 ........................................0 ........................29,764,338 ........................................0 ........................................0
COMMISSIONS INCURRED (direct business only)
27. First year (other than single).......................................................................................................... ......................171,407,454 ........................80,134,656 ........................78,088,114 ........................13,184,684 ........................................... ......................171,407,454 ........................................... ...........................................
28. Single............................................................................................................................................. ........................34,948,344 ........................10,909,976 ........................24,039,423 ................................(1,055) ........................................... ........................34,948,344 ........................................... ...........................................
29. Renewal......................................................................................................................................... ........................61,912,936 ...............................68,080 ........................48,736,511 ........................13,108,345 ........................................... ........................61,912,936 ........................................... ...........................................
30. Deposit-type contract funds............................................................................................................ ..........................1,939,957 ........................................... ..........................1,939,957 ........................................... ........................................... ..........................1,939,957 ........................................... ...........................................
31. Totals (to agree with Page 6, Line 19)........................................................................................... ......................270,208,691 ........................91,112,712 ......................152,804,005 ........................26,291,974 ........................................0 ......................270,208,691 ........................................0 ........................................0
Annual Statement for the year 2017 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.................................................................................................. ......25,021,530 .............13,418 ........1,610,402 ......................... ......................... ...........726,811 ......27,372,1602. Salaries and wages.......................................................................... ....282,488,330 ........1,879,670 ......17,266,723 ......................... ......30,364,020 ......22,673,253 ....354,671,995
3.11 Insured benefit plans for employees................................................ ......37,571,169 ...........287,159 ........2,637,853 ......................... ........4,037,890 ........3,718,252 ......48,252,3233.12 Insured benefit plans for fieldworkers............................................... ......44,304,182 ...........316,007 ........2,902,854 ......................... ......................... ......................... ......47,523,0423.21 Uninsured benefit plans for employees............................................ ........8,236,847 ...........102,612 ...........419,994 ......................... ...............7,138 ...........713,774 ........9,480,3653.22 Uninsured benefit plans for fieldworkers.......................................... ........4,484,029 .............31,983 ...........293,798 ......................... ......................... ......................... ........4,809,8103.31 Other employee welfare................................................................... ........1,293,847 ...............7,754 .............71,231 ......................... ...............2,542 ...........107,485 ........1,482,8593.32 Other fieldworker welfare................................................................. ........1,757,632 .............11,900 ...........109,311 ......................... ......................... .............71,127 ........1,949,9704.1 Legal fees and expenses................................................................. ........8,509,168 .............48,419 ...........444,780 ......................... ...........225,309 ...........706,215 ........9,933,8924.2 Medical examination fees................................................................. ........3,611,585 .............56,004 ...........514,451 ......................... ......................... ...........171,998 ........4,354,0374.3 Inspection report fees....................................................................... ...........479,473 ...............6,343 .............58,269 ......................... ......................... .............44,505 ...........588,5904.4 Fees of public accountants and consulting actuaries....................... ........2,228,774 .............12,992 ...........119,347 ......................... .............94,541 .............13,224 ........2,468,8784.5 Expense of investigation and settlement of certificate claims.......... ...........206,393 ...............3,199 .............29,385 ......................... ......................... ...............9,858 ...........248,8355.1 Traveling expenses.......................................................................... ......12,584,694 .............71,032 ...........652,505 ......................... ...........460,764 ........3,050,264 ......16,819,2595.2 Advertising........................................................................................ ........5,685,319 .............31,222 ...........286,808 ......................... ..................287 ........2,020,302 ........8,023,9395.3 Postage, express, telegraph and telephone..................................... ........9,555,556 .............97,930 ...........899,586 ......................... .............31,972 ...........911,472 ......11,496,5165.4 Printing and stationery...................................................................... ......10,606,977 .............50,323 ...........462,271 ......................... .............14,931 ........3,070,162 ......14,204,6655.5 Cost or depreciation of furniture and equipment.............................. ........1,988,916 .............11,527 ...........105,888 ......................... ......................0 .............52,196 ........2,158,5275.6 Rental of equipment......................................................................... ........1,266,265 ...............6,023 .............55,329 ......................... ......................... ...........135,726 ........1,463,3445.7 Cost or depreciation of EDP equipment and software..................... ........9,226,997 .............52,060 ...........478,222 ......................... .............79,517 ...........577,733 ......10,414,5295.8 Lodge supplies less $..........0 from sales......................................... ......................... ......................... ......................... ......................... ......................... ......................... ......................06.1 Books and periodicals...................................................................... ...........205,854 ...............1,027 ...............9,437 ......................... .............23,416 .............32,574 ...........272,3086.2 Bureau and association dues........................................................... ........3,301,372 .............19,605 ...........180,090 ......................... .............60,969 ...........334,793 ........3,896,8306.3 Insurance, except on real estate...................................................... ........1,075,062 ...............6,361 .............58,431 ......................... .............43,847 .............29,106 ........1,212,8076.4 Miscellaneous losses....................................................................... .......(1,556,690) ............(13,019) ..........(119,595) ......................... ...........915,340 ..........(141,660) ..........(915,624)6.5 Collection and bank service charges................................................ ...........412,907 ...............2,405 .............22,091 ......................... .............19,375 ...................(17) ...........456,7606.6 Sundry general expenses................................................................. ......73,261,713 ...........452,666 ........4,158,208 ......................... ........4,531,919 ......14,796,159 ......97,200,6647.1 Field expense allowance.................................................................. ........4,309,225 .............21,059 ...........193,450 ......................... ......................... ........1,160,029 ........5,683,7627.2 Fieldworkers' balances charged off (less $...........0 recovered)....... ......10,532,952 .............65,716 ...........603,674 ......................... ......................... ........1,074,494 ......12,276,8377.3 Field conferences other than local meetings.................................... ........7,737,989 .............55,193 ...........507,001 ......................... ......................... ......................... ........8,300,1828.1 Official publications.......................................................................... ...........509,191 ...............2,990 .............27,462 ......................... ......................... ........1,618,927 ........2,158,5708.2 Expense of supreme lodge meetings............................................... ......................... ......................... ......................... ......................... ......................... ......................... ......................09.1 Real estate expenses....................................................................... ...........148,689 ..................728 ...............6,690 ......................... ........2,931,058 .............40,823 ........3,127,9889.2 Investment expenses not included elsewhere.................................. ......10,152,789 ...............5,857 .............53,798 ......................... .............65,682 ......................... ......10,278,1259.3 Aggregate write-ins for expenses..................................................... ......................0 ......................0 ......................0 ......................0 ......................0 ....119,654,361 ....119,654,36110. General expenses incurred.............................................................. ....581,198,732 ........3,718,163 ......35,119,742 ......................0 ......43,910,518 (a)177,373,946 (b)841,321,10111. General expenses unpaid December 31, prior year......................... ......42,321,244 ...........262,130 ........2,960,253 ......................... ........3,062,044 ......13,631,477 ......62,237,14812. General expenses unpaid December 31, current year..................... ......47,749,812 ...........305,475 ........2,885,349 ......................... ........3,607,577 ......14,572,593 ......69,120,80613. General expenses paid during year (Lines 10 + 11 - 12 )................ ....575,770,164 ........3,674,818 ......35,194,646 ......................0 ......43,364,985 ....176,432,830 ....834,437,443
DETAILS OF WRITE-INS09.301 Fraternal Benevolences................................................................... ......................... ......................... ......................... ......................... ......................... ....107,406,851 ....107,406,85109.302 Fraternal Information and relations.................................................. ......................... ......................... ......................... ......................... ......................... .............39,516 .............39,51609.303 Local branch-lodge expenses.......................................................... ......................... ......................... ......................... ......................... ......................... ...........439,000 ...........439,00009.398 Summary of remaining write-ins for Line 9.3 from overflow page.... ......................0 ......................0 ......................0 ......................0 ......................0 ......11,768,994 ......11,768,99409.399 Totals (Lines 09.301 through 09.303 plus 09.398)(Line 9.3 above). ......................0 ......................0 ......................0 ......................0 ......................0 ....119,654,361 ....119,654,361
(a) Show the distribution of this amount in the following categories: 1. Charitable $.....8,457,919; 2. Institutional $.....6,585,611; 3. Recreational and Health $.....1,517,247; 4. Educational $.....6,606,486 5. Religious $.....38,309,543; 6. Membership $.....1,703,843; 7. Other $.....114,193,299; 8. Total $.....177,373,948(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........................................................................................................... ......................... ......................... ......................... ........2,054,728 ......................... ........2,054,7282. State insurance department licenses and fees............................................................. ........1,674,084 ...........129,260 ......................... .............23,374 ...........153,885 ........1,980,6033. Other state taxes, including $..........0 for employee benefits........................................ .............38,405 ...............2,279 ......................... ...............1,094 ......................... .............41,7784. U.S. Social Security taxes............................................................................................. ......34,657,700 ........2,448,041 ......................... ...........903,585 ........2,097,354 ......40,106,6805. All other taxes................................................................................................................ ........2,230,940 ...........129,957 ......................... .............56,259 .............81,107 ........2,498,2636. Taxes, licenses and fees Incurred................................................................................. ......38,601,129 ........2,709,537 ......................0 ........3,039,040 ........2,332,346 ......46,682,0527. Taxes, licenses and fees unpaid December 31, prior year........................................... ........3,795,295 ...........273,544 ......................... ...........416,270 ...........128,269 ........4,613,3788. Taxes, licenses and fees unpaid December 31, current year....................................... ........4,822,994 ...........339,458 ......................... ...........394,790 ...........278,442 ........5,835,6849. Taxes, licenses and fees paid during year (Lines 6 + 7 - 8).......................................... ......37,573,430 ........2,643,623 ......................0 ........3,060,520 ........2,182,173 ......45,459,746
EXHIBIT 4 - DIVIDENDS OR REFUNDS1 2
Life Accident and Health1. Applied to pay renewal premiums............................................................................................................................................... ...............................90,456,708 ....................................426,3292. Applied to shorten the endowment or premium-paying period................................................................................................... .................................................. ..................................................3. Applied to provide paid-up additions........................................................................................................................................... .............................197,029,424 ..................................................4. Applied to provide paid-up annuities........................................................................................................................................... ........................................8,639 ..................................................5. Total (Lines 1 to 4)...................................................................................................................................................................... .............................287,494,770 ....................................426,3296. Paid in cash................................................................................................................................................................................ ...............................19,902,753 .................................6,749,9377. Left on deposit............................................................................................................................................................................ .................................1,777,789 ..................................................8. Aggregate write-ins for dividend or refund.................................................................................................................................. ...............................................0 ...............................................09. Total (Lines 5 to 8)...................................................................................................................................................................... .............................309,175,313 .................................7,176,26510. Amount due and unpaid.............................................................................................................................................................. ....................................835,624 ..................................................11. Provision for dividends or refunds payable in the following calendar year................................................................................. .............................312,944,185 .................................6,609,00012 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)................................................................................................................................................... .............................313,779,809 .................................6,609,00016. Total from prior year.................................................................................................................................................................... .............................310,467,146 .................................7,218,00017. Total dividends or refunds (Line 9 + 15 - 16).............................................................................................................................. .............................312,487,976 .................................6,567,265
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 2017 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 ....................................................................................... ...............358,137 ............................. ...............358,137 ............................. .............................0100002. AE 3.5% 1918-1936 ................................................................................................. ............4,844,954 ............................. ............4,844,954 ............................. .............................0100003. 41 CSO 3.0% 1926-1935 ......................................................................................... ............3,546,865 ............................. ............3,546,865 ............................. .............................0100004. AE 3.0% 1934-1951 ................................................................................................. ........166,235,352 ............................. ........166,235,352 ............................. .............................0100005. 41 CSO 2.5% 1948-1964 ......................................................................................... .....1,029,108,810 ............................. .....1,029,108,810 ............................. .............................0100006. 58 CSO 2.5% 1962-1979 ......................................................................................... .....1,830,942,569 ............................. .....1,830,942,569 ............................. .............................0100007. 58 CSO 3.0% 1971-1988 ......................................................................................... ........375,900,149 ............................. ........375,900,149 ............................. .............................0100008. 58 CSO 3.5% 1972- .................................................................................................. ........931,877,067 ............................. ........931,877,067 ............................. .............................0100009. 58 CSO 4.0% 1980- .................................................................................................. ........846,075,381 ............................. ........846,075,381 ............................. .............................0100010. Fund value 1982-1988 .............................................................................................. .....5,935,900,600 ............................. .....5,935,900,600 ............................. .............................0100011. 58 CSO 4.5% 1983-1988 .......................................................................................... ............5,860,247 ............................. ............5,860,247 ............................. .............................0100012. 80 CSO 4.0% 1986- .................................................................................................. .....6,009,575,192 ............................. .....6,009,575,192 ............................. .............................0100013. 80 CSO 4.5% 1993- .................................................................................................. .....2,051,817,544 ............................. .....2,051,817,544 ............................. .............................0100014. 80 CSO 5.0% 1993-1995 .......................................................................................... ..........97,578,649 ............................. ..........97,578,649 ............................. .............................0100015. 80 CSO 5.5% 1987-1992 .......................................................................................... ........100,237,175 ............................. ........100,237,175 ............................. .............................0100016. 80 CSO 4.0%-5.0% 1994-.......................................................................................... ..........................0 ............................. ............................. ............................. .............................0100017. 2001 CSO 3.5% 2012-............................................................................................... .....1,899,576,426 ............................. .....1,899,576,426 ............................. .............................0100018. 2001 CSO 4.0% 2006-2012....................................................................................... .....2,313,451,648 ............................. .....2,313,451,648 ............................. .............................0100019. 2017 CSO 3.5% 2017................................................................................................ ............1,491,781 ............................. ............1,491,781 ............................. .............................0199997. Totals (Gross)................................................................................................................... ...23,604,378,546 ..........................0 ...23,604,378,546 ..........................0 ..........................00199998. Reinsurance ceded.......................................................................................................... ........757,821,561 ............................. ........757,821,561 ............................. .............................0199999. Totals (Net)....................................................................................................................... ...22,846,556,985 ..........................0 ...22,846,556,985 ..........................0 ..........................0
Annuities (excluding supplementary contracts with life contingencies):0200001. 37 SA Def AV 2.5%, a-1949 Def AV 3%, 3.5%, 4% 67-90......................................... ........413,474,223 ..........XXX............ ........413,474,223 ..........XXX............ .............................0200002. a-1949 Imm 3%, 3.5%, 5.5% 70-85............................................................................. .................30,589 ..........XXX............ .................30,589 ..........XXX............ .............................0200003. a62 Imm 3.50% 68-73, 71 IAM Imm 5.50/4.50% 74-83................................................ .................37,399 ..........XXX............ .................37,399 ..........XXX............ .............................0200004. 83a Def AV Various Rates 79-94.................................................................................. .....4,953,033,829 ..........XXX............ .....4,953,033,829 ..........XXX............ .............................0200005. 83a Def CARVM Various Rates 94-97......................................................................... ........830,894,542 ..........XXX............ ........830,894,542 ..........XXX............ .............................0200006. 83a Def CARVM Various Rates, AG43 Guar Benefit 94-97......................................... ...............589,560 ..........XXX............ ...............589,560 ..........XXX............ .............................0200007. 83a Imm 6.25%/20/4.50% 84-99.................................................................................. ..........10,712,299 ..........XXX............ ..........10,712,299 ..........XXX............ .............................0200008. 83a Imm 5.5% 86-89.................................................................................................... ...............577,244 ..........XXX............ ...............577,244 ..........XXX............ .............................0200009. 83a Imm Various Rates 90-97...................................................................................... ..........11,006,874 ..........XXX............ ..........11,006,874 ..........XXX............ .............................0200010. a-2000 Def CARVM Various Rates 98-15.................................................................... .....6,019,213,099 ..........XXX............ .....6,019,213,099 ..........XXX............ .............................0200011. a-2000 Def CARVM Various Rates, AG43 Guar Benefit 98-15................................... ............1,848,245 ..........XXX............ ............1,848,245 ..........XXX............ .............................0200012. a-2000 Imm Various Rates 98-03, 07-15..................................................................... ........676,173,330 ..........XXX............ ........676,173,330 ..........XXX............ .............................0200013. 2012 AIR Def CARVM Various Rates 16-NB............................................................... .....1,233,599,383 ..........XXX............ .....1,233,599,383 ..........XXX............ .............................0200014. 2012 AIR Def CARVM Various Rates, AG 43 Guar Benefit 16-NB.............................. ..........................0 ..........XXX............ ............................. ..........XXX............ .............................0200015. 2012 AIR Imm Various Rates 16-NB............................................................................ ..........89,664,961 ..........XXX............ ..........89,664,961 ..........XXX............ .............................0299997. Totals (Gross)................................................................................................................... ...14,240,855,577 ..........XXX............ ...14,240,855,577 ..........XXX............ ..........................00299999. Totals (Net)....................................................................................................................... ...14,240,855,577 ..........XXX............ ...14,240,855,577 ..........XXX............ ..........................0
Supplementary Contracts with Life Contingencies:0300001. 37 SA Imm 2.5% 48-86, a62 Imm 2.5%, 3.0% 55-74................................................... .................29,854 ............................. .................29,854 ............................. .............................0300002. a-1949 Imm 3%, 3.5%, 5.5% 71-85.............................................................................. ...............104,780 ............................. ...............104,780 ............................. .............................0300003. 71 IAM Imm 3.0%, 5.5%/20/4.5% 74-84....................................................................... ...............242,962 ............................. ...............242,962 ............................. .............................0300004. 83a Imm 6.25%/20/4.50% 84-99 .................................................................................. ..........58,663,736 ............................. ..........58,663,736 ............................. .............................0300005. 83a Imm 5.5% 85-90..................................................................................................... ............1,579,517 ............................. ............1,579,517 ............................. .............................0300006. 83a Imm Various Rates 90-97...................................................................................... ..........45,057,894 ............................. ..........45,057,894 ............................. .............................0300007. a2000 Imm Various Rates 98-03, 11-14....................................................................... .....1,258,053,764 ............................. .....1,258,053,764 ............................. .............................0300008. 2012 IAR Imm Various Rates 15-NB............................................................................ ........187,879,558 ............................. ........187,879,558 ............................. .............................0399997. Totals (Gross)................................................................................................................... .....1,551,612,065 ..........................0 .....1,551,612,065 ..........................0 ..........................00399999. Totals (Net)....................................................................................................................... .....1,551,612,065 ..........................0 .....1,551,612,065 ..........................0 ..........................0
Accidental Death Benefits:0400001. 1926-33 Interco., 2.5%.................................................................................................. .................95,546 ............................. .................95,546 ............................. .............................0400002. 1926-33 Interco., 3.0%.................................................................................................. ..........................0 ............................. ............................. ............................. .............................0400003. 59 ADB 2.5%................................................................................................................. ............1,130,582 ............................. ............1,130,582 ............................. .............................0400004. 59 ADB 3.0%................................................................................................................. ..........13,557,264 ............................. ..........13,557,264 ............................. .............................0400005. 59 ADB 3.5%................................................................................................................. ...............934,475 ............................. ...............934,475 ............................. .............................0400006. 59 ADB 4.0%................................................................................................................. ............1,613,865 ............................. ............1,613,865 ............................. .............................0400007. 59 ADB 4.5%................................................................................................................. ...............275,123 ............................. ...............275,123 ............................. .............................0499997. Totals (Gross)................................................................................................................... ..........17,606,855 ..........................0 ..........17,606,855 ..........................0 ..........................00499998. Reinsurance ceded.......................................................................................................... ......................229 ............................. ......................229 ............................. .............................0499999. Totals (Net)....................................................................................................................... ..........17,606,626 ..........................0 ..........17,606,626 ..........................0 ..........................0
Disability - Active Lives:0500001. 52 Interco Disa 2.5%..................................................................................................... ............3,855,180 ............................. ............3,855,180 ............................. .............................0500002. 52 Interco Disa 3.0%..................................................................................................... ...............745,518 ............................. ...............745,518 ............................. .............................0500003. 52 Interco Disa 3.5%..................................................................................................... ..........13,871,418 ............................. ..........13,871,418 ............................. .............................0500004. 52 Interco Disa 4.0%..................................................................................................... ..........68,681,976 ............................. ..........68,681,976 ............................. .............................0500005. 52 Interco Disa 4.5%..................................................................................................... ..........66,603,687 ............................. ..........66,603,687 ............................. .............................0500006. Class (3) & 1941 CSO 2.50%....................................................................................... ...................6,109 ............................. ...................6,109 ............................. .............................0500007. Class (3) & AE 3.0%..................................................................................................... ..........................0 ............................. ............................. ............................. .............................0599997. Totals (Gross)................................................................................................................... ........153,763,889 ..........................0 ........153,763,889 ..........................0 ..........................00599998. Reinsurance ceded.......................................................................................................... ...............195,286 ............................. ...............195,286 ............................. .............................
Annual Statement for the year 2017 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) Group0599999. Totals (Net)....................................................................................................................... ........153,568,603 ..........................0 ........153,568,603 ..........................0 ..........................0
Disability - Disabled Lives:0600001. 52 Interco Disa 2.5%..................................................................................................... ..........55,483,759 ............................. ..........55,483,759 ............................. .............................0600002. 52 Interco Disa 3.0%..................................................................................................... ............1,170,927 ............................. ............1,170,927 ............................. .............................0600003. 52 Interco Disa 3.5%..................................................................................................... ........265,472,888 ............................. ........265,472,888 ............................. .............................0600004. 52 Interco Disa 4.0%..................................................................................................... ..........29,511,800 ............................. ..........29,511,800 ............................. .............................0600005. 52 Interco Disa 4.5%..................................................................................................... ..........11,081,753 ............................. ..........11,081,753 ............................. .............................0600006. Class (3) 3.0%............................................................................................................... .................69,941 ............................. .................69,941 ............................. .............................0600007. Class (3) AE 3.0%......................................................................................................... ...................2,148 ............................. ...................2,148 ............................. .............................0699997. Totals (Gross)................................................................................................................... ........362,793,215 ..........................0 ........362,793,215 ..........................0 ..........................00699998. Reinsurance ceded.......................................................................................................... ...............311,842 ............................. ...............311,842 ............................. .............................0699999. Totals (Net)....................................................................................................................... ........362,481,373 ..........................0 ........362,481,373 ..........................0 ..........................0
Miscellaneous Reserves:0700001. For reserve for variable life insurance minimum death benefit guarantees...................... ............1,596,326 ............................. ............1,596,326 ............................. .............................
0700002.For non-deduction of deferred fractional premiums or return of premiums at the deathof the insured ...............424,100 ............................. ...............424,100 ............................. .............................
0700003. Annuity LTC combo rider reserves................................................................................... ...............466,620 ............................. ...............466,620 ............................. .............................0799997. Totals (Gross)................................................................................................................... ............2,487,046 ..........................0 ............2,487,046 ..........................0 ..........................00799999. Totals (Net)....................................................................................................................... ............2,487,046 ..........................0 ............2,487,046 ..........................0 ..........................09999999. Totals (Net) - Page 3, Line 1............................................................................................ ...39,175,168,275 ..........................0 ...39,175,168,275 ..........................0 ..........................0
Annual Statement for the year 2017 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 31 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 2017 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............................................ ..........57,071,989 ............................ ...........1,692,120 .........55,312,115 ................67,754 ............................ ............................
2. Additional contract reserves (a)........................................ .....4,531,059,765 ............................ .........47,804,288 ....4,477,445,310 ...........5,810,167 ............................ ............................
3. Additional actuarial reserves-Asset/Liability analysis....... ........567,000,000 ............................ ............................ .......567,000,000 ............................ ............................ ............................
4. Reserve for future contingent benefits............................. ..........................0 ............................ ............................ ............................ ............................ ............................ ............................
5. Aggregate write-ins for reserves...................................... ..........................0 .........................0 .........................0 .........................0 .........................0 .........................0 .........................0
6. Totals (Gross)................................................................... .....5,155,131,753 .........................0 .........49,496,408 ....5,099,757,425 ...........5,877,921 .........................0 .........................0
7. Reinsurance ceded.......................................................... ...............206,179 ............................ ..............201,321 ..................4,857 ............................ ............................ ............................
8. Totals (Net)....................................................................... .....5,154,925,575 .........................0 .........49,295,086 ....5,099,752,567 ...........5,877,921 .........................0 .........................0
CLAIM RESERVE9. Present value of amounts not yet due on claims.............. .....1,049,718,036 ............................ .........62,024,711 .......985,639,237 ...........2,054,088 ............................ ............................
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)................................................................... .....1,049,718,036 .........................0 .........62,024,711 .......985,639,237 ...........2,054,088 .........................0 .........................0
14. Reinsurance ceded.......................................................... ...............283,061 ............................ ..............283,061 ............................ ............................ ............................ ............................
15. Totals (Net)....................................................................... .....1,049,434,975 .........................0 .........61,741,650 .......985,639,237 ...........2,054,088 .........................0 .........................0
16. TOTAL (Net)..................................................................... .....6,204,360,550 .........................0 .......111,036,736 ....6,085,391,804 ...........7,932,009 .........................0 .........................0
17. TABULAR FUND INTEREST........................................... ........251,692,439 ............................ ...........4,346,009 .......247,027,807 ..............318,624 ............................ ............................
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.See last paragraph in Note 35 for explanation.
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............................... .....3,272,027,273 ............................. ........354,180,621 .....2,847,304,965 ..........70,274,197 ...............267,490
2. Deposits received during the year............................................................ ........663,906,990 ............................. ..........13,075,766 ........649,013,107 ............1,805,593 .................12,524
3. Investment earnings credited to the account............................................ ........111,870,113 ............................. ..........15,468,960 ..........93,468,895 ............2,928,693 ...................3,565
4. Other net change in reserves................................................................... ..........................0 ............................. ............................. ............................. ............................. .............................
5. Fees and other charges assessed............................................................ ..........................0 ............................. ............................. ............................. ............................. .............................
6. Surrender charges.................................................................................... ..........................0 ............................. ............................. ............................. ............................. .............................
7. Net surrender or withdrawal payments..................................................... ........627,177,595 ............................. ..........60,338,177 ........561,679,907 ............5,100,720 .................58,791
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)............................................................. .....3,420,626,781 ..........................0 ........322,387,170 .....3,028,107,060 ..........69,907,764 ...............224,787
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).. .....3,420,626,781 ..........................0 ........322,387,170 .....3,028,107,060 ..........69,907,764 ...............224,787
Annual Statement for the year 2017 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................................................................................................... .................25,048,557 ................................. ...............11,448,544 ...............13,212,660 ...................387,353 ................................. ................................. ................................. ................................. ................................. .................................1.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................1.3 Reinsurance ceded.............................................................................. ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................1.4 Net....................................................................................................... .................25,048,557 ..............................0 ...............11,448,544 ...............13,212,660 ...................387,353 ..............................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................................................................................................. ...............280,146,342 ................................. .............130,223,736 .............120,473,343 ................................. ................................. ................................. ................................. ................................. ................................. ...............29,449,2632.22 Reinsurance assumed........................................................................ ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................2.23 Reinsurance ceded............................................................................. .................12,148,493 ................................. ...............12,145,395 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .......................3,0982.24 Net..................................................................................................... ...............267,997,850 ..............................0 (b)........118,078,341 (b)........120,473,343 ..............................0 (b)..........................0 (b)..........................0 ..............................0 (b)..........................0 (b)..........................0 (b)..........29,446,166
3. Incurred but unreported:3.1 Direct................................................................................................... .................44,995,919 ................................. ...............34,078,965 .................1,049,434 ................................. ................................. ................................. ................................. ................................. ................................. .................9,867,5203.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................3.3 Reinsurance ceded.............................................................................. ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................3.4 Net....................................................................................................... .................44,995,919 ..............................0 (b)..........34,078,965 (b)............1,049,434 ..............................0 (b)..........................0 (b)..........................0 ..............................0 (b)..........................0 (b)..........................0 (b)............9,867,520
4. Totals:4.1 Direct................................................................................................... ...............350,190,818 ..............................0 .............175,751,245 .............134,735,437 ...................387,353 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............39,316,7834.2 Reinsurance assumed.......................................................................... ................................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................04.3 Reinsurance ceded.............................................................................. .................12,148,493 ..............................0 ...............12,145,395 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .......................3,0984.4 Net....................................................................................................... ...............338,042,326 (a)..........................0 (a)........163,605,850 .............134,735,437 ...................387,353 ..............................0 (a)..........................0 ..............................0 ..............................0 ..............................0 ...............39,313,686
(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 $.....362,481,373, 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 $.....1,049,434,975 are included in Page 3, Line 2, (See Exhibit 6, Claim Reserve).
Annual Statement for the year 2017 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................................................................................................... ............2,428,972,583 ................................. ..........1,093,318,635 .............772,801,204 .............213,820,214 ................................. ................................. ................................. ................................. ................................. .............349,032,5311.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................1.3 Reinsurance ceded.............................................................................. .................57,581,981 ................................. ...............57,512,349 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .....................69,6321.4 Net....................................................................................................... (d).......2,371,390,602 ..............................0 ..........1,035,806,286 .............772,801,204 .............213,820,214 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .............348,962,899
2. Liability December 31, current year from Part 1:2.1 Direct................................................................................................... ...............350,190,818 ..............................0 .............175,751,245 .............134,735,437 ...................387,353 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............39,316,7832.2 Reinsurance assumed.......................................................................... ................................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................02.3 Reinsurance ceded.............................................................................. .................12,148,493 ..............................0 ...............12,145,395 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .......................3,0982.4 Net....................................................................................................... ...............338,042,326 ..............................0 .............163,605,850 .............134,735,437 ...................387,353 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............39,313,686
3. Amounts recoverable from reinsurers Dec. 31, current year........................ ..................3,581,350 ................................. .................3,581,350 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................4. Liability December 31, prior year:
4.1 Direct................................................................................................... ...............302,805,000 ................................. .............151,423,515 .............115,679,941 ...................394,136 ................................. ................................. ................................. ................................. ................................. ...............35,307,4084.2 Reinsurance assumed.......................................................................... ................................0 ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................4.3 Reinsurance ceded.............................................................................. ..................7,112,647 ................................. .................7,110,287 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .......................2,3604.4 Net....................................................................................................... ...............295,692,353 ..............................0 .............144,313,228 .............115,679,941 ...................394,136 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ...............35,305,048
5. Amounts recoverable from reinsurers December 31, prior year................... ..................2,534,931 ................................. .................2,534,931 ................................. ................................. ................................. ................................. ................................. ................................. ................................. .................................6. Incurred benefits:
6.1 Direct................................................................................................... ............2,476,358,402 ..............................0 ..........1,117,646,365 .............791,856,700 .............213,813,431 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .............353,041,9066.2 Reinsurance assumed.......................................................................... ................................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................06.3 Reinsurance ceded.............................................................................. .................63,664,245 ..............................0 ...............63,593,876 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .....................70,3706.4 Net....................................................................................................... ............2,412,694,156 ..............................0 ..........1,054,052,489 .............791,856,700 .............213,813,431 ..............................0 ..............................0 ..............................0 ..............................0 ..............................0 .............352,971,537
(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 $.....4,677,416 in Line 1.1, $.....4,677,416 in Line 1.4, $.....4,677,416 in Line 6.1 and $.....4,677,416 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 $.....37,503,771 premiums waived under total and permanent disability benefits.
Annual Statement for the year 2017 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................................................................................................................................ ...............................1,606,542 ...............................2,346,318 ..................................739,776
7. Derivatives (Schedule DB)............................................................................................................. ................................................. ................................................. .............................................0
8. Other invested assets (Schedule BA)............................................................................................ ...............................3,655,773 ...............................6,087,448 ...............................2,431,675
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)...................................................................... ...............................5,262,315 ...............................8,433,766 ...............................3,171,450
13. Title plants (for Title insurers only)................................................................................................. ................................................. ................................................. .............................................0
14. Investment income due and accrued............................................................................................. ................................................. ..................................690,432 ..................................690,432
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...................................................................... .............................49,662,276 .............................45,754,096 ..............................(3,908,179)
21. Furniture and equipment, including health care delivery assets.................................................... .............................17,812,825 .............................13,245,365 ..............................(4,567,460)
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..................................................................................... ...............................7,394,249 ...............................2,869,702 ..............................(4,524,547)
25. Aggregate write-ins for other-than-invested assets........................................................................ .............................34,702,758 .............................33,268,077 ..............................(1,434,681)
26. Total assets excluding Separate Accounts, Segregated Accounts and ProtectedCell Accounts (Lines 12 through 25).............................................................................................. ...........................114,834,423 ...........................104,261,438 ............................(10,572,984)
27. From Separate Accounts, Segregated Accounts and Protected Cell Accounts............................. ................................................. ................................................. .............................................0
28. TOTALS (Lines 26 and 27)............................................................................................................ ...........................114,834,423 ...........................104,261,438 ............................(10,572,984)
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........................................................................................................................... .............................27,117,100 .............................23,877,249 ..............................(3,239,851)
2502. Miscellaneous assets and receivables........................................................................................... ...............................3,844,821 ...............................3,071,032 .................................(773,790)
2503. Unsecured loans............................................................................................................................ ...............................3,740,836 ...............................6,319,797 ...............................2,578,960
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)........................................................ .............................34,702,758 .............................33,268,077 ..............................(1,434,681)
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18
NOTES TO FINANCIAL STATEMENTSNote 1 – Summary of Significant Accounting Policies and Going Concern
A. Accounting PracticesThe financial statements of Thrivent Financial for Lutherans (Thrivent Financial) are presented on the basis of accounting practices and procedures prescribed bythe Office of the Commissioner of Insurance of the State of Wisconsin. The Office of the Commissioner of Insurance of the State of Wisconsin recognizes onlystatutory accounting practices prescribed by the State of Wisconsin for determining and reporting the financial condition and results of operations of an insurancecompany, for determining its solvency under the Wisconsin Insurance Law. The National Association of Insurance Commissioners' (NAIC) Statutory AccountingPractices and Procedures (SAP) manual has been adopted as a component of prescribed practices by the State of Wisconsin. The Office of the Commissioner ofInsurance 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 shownbelow:
SSAP # F/S Page F/S Line # 2017 2016NET INCOME(1) Thrivent Financial for Lutherans Company state basis
(Page 4, Line 31, Columns 1 & 2) XXX XXX XXX $ 516,636,583 $ 555,807,813(2) State Prescribed Practice that are an increase/(decrease) from NAIC SAP
$ $(3) State Permitted Practice that are an increase/(decrease) from NAIC SAP
$ $(4) NAIC SAP (1 – 2 – 3 = 4) XXX XXX XXX $ 516,636,583 $ 555,807,813SURPLUS(5) Thrivent Financial for Lutherans Company state basis
(Page 3, line 30, Columns 1 & 2) XXX XXX XXX $ 8,269,327,092 $ 7,725,613,924(6) State Prescribed Practice that are an increase/(decrease) from NAIC SAP
$ $(7) State Permitted Practice that are an increase/(decrease) from NAIC SAP
$ $(8) NAIC SAP (5 – 6 – 7 = 8) XXX XXX XXX $ 8,269,327,092 $ 7,725,613,924
B. Use of Estimates in the Preparation of the Financial StatementThe preparation of financial statements in conformity with SAP requires management to make estimates and assumptions that affect the amounts reported in thefinancial 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 PolicyTraditional life premiums are recognized as income over the premium paying period of the related policies. Variable life, universal life and annuity premiums arerecognized as revenue when received. Deposits on deposit-type contracts are entered directly as a liability when received. Health premiums are earned over theterms 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 beretained by Thrivent Financial.
In addition, Thrivent Financial uses the following accounting policies:
(1) Basis for Short-Term InvestmentsShort-term investments have contractual maturities of one year or less at the time of acquisition. Investments in commercial paper and agency notes arecarried at amortized cost, which approximates fair value.
(2) Basis for Bonds, Mandatory Convertible Securities, SVO-Identified Investments and Amortization MethodBonds and mandatory convertible securities are valued and reported in accordance with the Purposes & Procedures Manual of the NAIC Investment AnalysisOffice (P&P Manual). Bonds and mandatory convertible securities, 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 amortizedusing the modified scientific method. For mandatory convertible bonds that are held in a period prior to mandatory conversion, are reported at the lower ofamortized cost or fair value.
(3) Basis for Common StocksCommon stocks of unaffiliated companies are stated at market value. Common stocks of uncombined subsidiaries and affiliates are carried on the statutoryequity basis.
(4) Basis for Preferred StocksPreferred 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) Basis for Mortgage LoansMortgage loans on real estate are stated at unpaid principal balances, less valuation adjustments. See note 5A for more information about investments inmortgage loans.
(6) Basis for Loan-Backed Securities and Adjustment MethodologyLoan-backed and structured securities are valued and reported in accordance with the P&P Manual and stated at amortized cost using the modified scientificmethod adjusted to reflect anticipated prepayment patterns. See note 5D for more information about loan-backed investments.
(7) Accounting Policies for Investments in Subsidiaries, Controlled and Affiliated EntitiesThe common stock of Thrivent Financial's wholly-owned subsidiary (Thrivent Financial Holdings Inc.) is carried under the statutory equity method.
(8) Accounting Policies for Investments in Joint Ventures, Partnerships and Limited Liability EntitiesThrivent Financial has ownership interests in joint ventures, partnerships and limited liability companies. Thrivent Financial carries these interests based onthe underlying audited equity of the investee as reported under U.S. generally accepted accounting principles (GAAP).
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.1
NOTES TO FINANCIAL STATEMENTS(9) Accounting Policies for Derivatives
Derivative financial instruments that hedge specific assets or liabilities are valued and reported in a manner consistent with the hedged item. See note 8 formore information about derivative investments.
(10) Anticipated Investment Income Used in Premiums Deficiency CalculationThrivent Financial anticipates investment income as a factor in the premium deficiency calculation for disability income and long-term care products, inaccordance with Statement of Statutory Accounting Principles (SSAP) No. 54, Individual and Group Accident and Health Contracts.
(11) Management's Policies and Methodologies for Estimating Liabilities for Losses and Loss/Claim Adjustment Expenses for A&H ContractsUnpaid losses and loss adjustment expenses include an amount determined from individual case estimates and loss reports and an amount, based on pastexperience, for losses incurred but not reported. Such liabilities are necessarily based on assumptions and estimates and while management believes theamount is adequate, the ultimate liability may be in excess of or less than the amount provided. The methods for making such estimates and for establishingthe resulting liability is periodically reviewed and any adjustments are reflected in the period determined.
(12) Changes in the Capitalization Policy and Predefined Thresholds from Prior PeriodThrivent Financial has not modified its capitalization policy from the prior period.
(13) Method Used to Estimate Pharmaceutical Rebate ReceivablesThrivent Financial is not a participant in any pharmaceutical rebate program.
D. Going Concern(1-4) There is no substantial doubt regarding Thrivent Financial’s ability to continue as a going concern.
Note 2 – Accounting Changes and Correction of Errors
During 2017, Thrivent Financial recorded an adjustment to its reserve for life contracts and related deferred premiums totaling $84 million, which wasrecorded directly to surplus. The adjustment corrected an overstatement of the reserve connected with waivers on term products. In 2016, the increase inaggregate reserves for life and accident and health contracts included in the Summary of Operations, Line 17, was overstated by $13 million.
Note 3 – Business Combinations and Goodwill
A. Statutory Purchase MethodThrivent Financial did not acquire any organizations accounted for under the statutory purchase method for the years ended December 31, 2017 and 2016.
B. Statutory MergerThrivent Financial did not participate in a statutory merger for the years ended December 31, 2017 and 2016.
C. Assumption ReinsuranceThrivent Financial did not enter into any assumption reinsurance agreements for the years ended December 31, 2017 and 2016.
D. Impairment LossThrivent Financial had no impairment losses related to business combinations or goodwill.
Note 4 – Discontinued Operations
A. Discontinued Operation Disposed of or Classified as Held for SaleThrivent Financial had no discontinued operations during the years ended December 31, 2017 and 2016.
B. Change in Plan of Sale of Discontinued OperationThrivent Financial had no discontinued operations during the years ended December 31, 2017 and 2016.
C. Nature of any Significant Continuing Involvement with Discontinued Operations After DisposalThrivent Financial had no discontinued operations during the years ended December 31, 2017 and 2016.
D. Equity Interest Retained in the Discontinued Operation After DisposalThrivent Financial had no discontinued operations during the years ended December 31, 2017 and 2016.
Note 5 – Investments
A. Mortgage Loans, including Mezzanine Real Estate Loans
(1) Maximum and Minimum Lending RatesThe maximum and minimum loan rates for mortgage loans during 2017 were 6.0% and 2.7%, 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 moneymortgage was:75%.
Current Year Prior Year(3) Taxes, assessments and any amounts advanced and not included in the
mortgage loan total $ - $ -
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.2
NOTES TO FINANCIAL STATEMENTS(4) Age Analysis of Mortgage Loans and Identification of Mortgage Loans in which the Insurer is a Participant or Co-Lender in a Mortgage Loan Agreement:
Residential CommercialFarm Insured All Other Insured All Other Mezzanine Total
a. Current Year1. Recorded Investment
(All)(a) Current
$ - $ - $ - $ -$8,193,575,587 $ - $8,193,575,587
(b) 30-59 Days PastDue $ - $ - $ - $ - $ 1,671,511 $ - $ 1,671,511
(c) 60-89 Days PastDue $ - $ - $ - $ - $ 4,655,590 $ - $ 4,655,590
(d) 90-179 Days PastDue $ - $ - $ - $ - $ 2,237,954 $ - $ 2,237,954
(e) 180+ Days PastDue $ - $ - $ - $ - $ - $ - $
2. Accruing Interest 90-179Days Past Due(a) Recorded
Investment $ - $ - $ - $ - $ 2,237,954 $ - $ 2,237,954(b) Interest Accrued $ - $ - $ - $ - $ 41,079 $ - $ 41,079
3. Accruing Interest 180+Days Past Due(a) Recorded
Investment $ - $ - $ - $ - $ - $ - $(b) Interest Accrued $ - $ - $ - $ - $ - $ - $
4. Interest Reduced(a) Recorded
Investment $ - $ - $ - $ - $ 58,894,504 $ - $ 58,894,504(b) Number of Loans - - - - 79 - 79(c) Percent Reduced -% -% -% -% 1.2% -% 1.2%
5. Participant or Co-Lenderin a Mortgage LoanAgreement(a) Recorded
Investment $ - $ - $ - $ - $ 9,624,131 $ - $ 9,624,131b. Prior Year
1. Recorded Investment(All)(a) Current
$ - $ - $ - $ -$7,766,019,755 $ - $7,766,019,755
(b) 30-59 Days PastDue $ - $ - $ - $ - $ 3,218,404 $ - $ 3,218,404
(c) 60-89 Days PastDue $ - $ - $ - $ - $ 1,372,574 $ - $ 1,372,574
(d) 90-179 Days PastDue $ - $ - $ - $ - $ - $ - $
(e) 180+ Days PastDue $ - $ - $ - $ - $ 5,299,416 $ - $ 5,299,416
2. Accruing Interest 90-179Days Past Due(a) Recorded
Investment $ - $ - $ - $ - $ - $ - $(b) Interest Accrued $ - $ - $ - $ - $ - $ - $
3. Accruing Interest 180+Days Past Due(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%
5. Participant or Co-Lenderin a Mortgage LoanAgreement(a) Recorded
Investment $ - $ - $ - $ - $ 3,126,313 $ - $ 3,126,313
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.3
NOTES TO FINANCIAL STATEMENTS(5) Investment in Impaired Loans With or Without Allowance for Credit Losses and Impaired Loans Subject to a participant or Co-Lender Mortgage Loan
Agreement for which the Reporting Entity is Restricted from Unilaterally Foreclosing on the Mortgage Loan:Residential Commercial
Farm Insured All Other Insured All Other Mezzanine Totala. Current Year
1. With Allowance for CreditLosses $ - $ - $ - $ - $ - $ - $
2. No Allowance for CreditLosses - - - - 2,079,501 - 2,079,501
3. Total (1 + 2) $ $ $ $ $ 2,079,501 $ $ 2,079,5014. Subject to a Participant
or Co-Lender MortgageLoan Agreement forwhich the ReportingEntity is Restricted fromUnilaterally Foreclosingon the Mortgage Loan - - - - - -
b. Prior Year1. With Allowance for Credit
Losses $ - $ - $ - $ - $ 2,101,942 $ - $ 2,101,9422. No Allowance for Credit
Losses $ - $ - $ - $ - $ - $ - $3. Total (1 + 2) $ $ $ $ $ 2,101,942 $ $ 2,101,9424. Subject to a Participant
or Co-Lender MortgageLoan Agreement forwhich the ReportingEntity is Restricted fromUnilaterally Foreclosingon the Mortgage Loan $ - $ - $ - $ - $ - $ - $
(6) Investment in Impaired Loans – Average Recorded Investment, Interest Income Recognized, Recorded Investment on Nonaccrual Status and Amount ofInterest Income Recognized Using a Cash-Basis Method of Accounting:
Residential CommercialFarm Insured All Other Insured All Other Mezzanine Total
a. Current Year1. Average Recorded
Investment - - - - 1,039,750 - 1,039,7502. Interest Income
Recognized - - - - - -3. Recorded Investments on
Nonaccrual Status - - - - 120,175 - 120,1754. Amount of Interest Income
Recognized Using aCash-Basis Method ofAccounting - - - - - -
b. Prior Year1. Average Recorded
Investment - - - - 1,050,971 - 1,050,9712. Interest Income
Recognized - - - - - -3. Recorded Investments on
Nonaccrual Status - - - - 112,248 - 112,2484. Amount of Interest Income
Recognized Using aCash-Basis Method ofAccounting - - - - - -
(7) Allowances for Credit Balances:Thrivent Financial had no allowances for credit balance in the year ended December 31, 2017.
(8) Mortgage Loans Derecognized as a Result of Foreclosure:Current Year
a. Aggregate amount of mortgage loans derecognized $ 5,299,416b. Real estate collateral recognized -c. Other collateral recognized -d. Receivables recognized from a government guarantee of the foreclosed mortgage loan $ -
(9) Policy for Recognizing Interest Income on Impaired LoansThrivent Financial recognizes interest income on its impaired loans upon receipt.
B. Debt Restructuring
Current Year Prior Year(1) The total recorded investment in restructured loans, as of year-end $ 4,006,480 $ 4,028,921(2) The realized capital losses related to these loans - 6,538,625(3) Total contractual commitments to extend credit to debtors owing receivables whose
terms have been modified in troubled debt restructurings $ - $ -
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.4
NOTES TO FINANCIAL STATEMENTS
(4) Creditor's Income Recognition Policy for Interest Income on Impaired LoansThrivent Financial accrues interest income on impaired loans to the extent it is deemed collectible (delinquent less than 180 days) and the loan continuesto perform under its original or restructured contractual terms. Interest income on non-performing loans is generally recognized on a cash basis.
C. Reverse Mortgages
(1) Description of Accounting Policies and MethodsThrivent Financial did not have any reverse mortgages during the years ended December 31, 2017 and 2016.
(2) General Information Regarding Commitment Under the Agreement
(3) At December 31, the actuarial reserve of $0 reduced the asset value of the group of reverse mortgages.
(4) The Company recorded an unrealized loss $0 as a result of the re-estimates of the cash flows.
D. Loan-Backed Securities
(1) Description of Sources Used to Determined Prepayment AssumptionsPrepayment 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 recognizedby 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 torecover the amortized cost basis'.
(3) Recognized OTTI securitiesThrivent Financial recognized other-than-tempory impairments during 2017 on the following loan-backed securities where the present value of cashflows expected to be collected was less than the amortized cost basis of the security:
1 2 3 4 5 6 7
CUSIP
Book/AdjustedCarrying ValueAmortized CostBefore CurrentPeriod OTTI
Present Value ofProjected Cash
Flows
RecognizedOther-Than-TemporaryImpairment
Amortized Cost AfterOther-Than-
Temporary ImpairmentFair Value atTime of OTTI
Date of FinancialStatement Where
Reported05948K VV 8 $ 7,151,798 $ - $ 227,557 $ 6,924,240 $ 6,717,998 Q405949A L9 9 $ 1,089,945 $ - $ 26,123 $ 1,063,822 $ 1,053,123 Q405949A ZT 0 $ 7,818,505 $ - $ 115,719 $ 7,702,786 $ 7,753,419 Q407389Q AA 6 $ 5,754,590 $ - $ 208,740 $ 5,545,849 $ 5,847,819 Q4863576 AC 8 $ 3,526,666 $ - $ 66,582 $ 3,460,084 $ 3,417,122 Q4949837 AA 6 $ 2,773,557 $ - $ 242 $ 2,773,315 $ 2,890,234 Q475970Q AJ 9 $ 2,504,767 $ - $ 148,540 $ 2,356,228 $ 2,378,167 Q402990Y AX 0 $ 3,661,077 $ - $ 848,617 $ 2,812,460 $ 2,339,642 Q452522Q AN 2 $ 660,385 $ - $ 212,015 $ 448,369 $ 159,552 Q478477A AA 5 $ 2,494,969 $ - $ 2,391,360 $ 9,205 $ 893,222 Q4
Total $ 4,245,495
(4) All impaired securities (fair value is less than cost or amortized cost) for which an other-than-temporary impairment has not been recognized in earningsas a realized loss (including securities with a recognized other-than-temporary impairment for non-interest related declines when a non-recognizedinterest related impairment remains):
As of December 31, 2017, Thrivent Financial held loan-backed securities with a book adjusted carrying value of $2.1 billion and a fair value of $2.1billion. The securities have unrealized gains of $45 million and unrealized losses totaling $21 million.
a. The aggregate amount of unrealized losses: 1. Less than 12 Months $ 19,264,9722. 12 Months or Longer $ 1,658,408
b. The aggregate related fair value of securities with unrealized losses: 1. Less than 12 Months $ 2,098,268,7022. 12 Months or Longer $ 3,394,922
(5) Information Investor Considered in Reaching Conclusion that Impairments are Not Other-Than-TemporaryAll 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 theamortized cost basis. Detailed analysis of underlying credit and cash flows are reviewed for each security. It is possible that Thrivent Financial couldrecognize other-than-temporary impairments in the future on some of the securities held at December 31, 2017, as additional information regarding thesesecurities becomes known.
E. Dollar Repurchase Agreements and/or Securities Lending Transactions
(1) Policy for Requiring Collateral or Other SecurityFor securities lending agreements, Thrivent Financial follows statutory guidance for minimum collateral required on loaned securities at the outset of thecontract. Cash collateral received is invested in bonds, cash equivalents and short-term investments and the offsetting collateral liability is included inpayable for securities lending. The fair value of the collateral as of December 31, 2017 was $365 million. Thrivent Financial held no repurchaseagreements at December 31, 2017 and 2016.
(2) Disclose the Carrying Amount and Classification of Both Assets and LiabiltiiesThrivent Financial did not pledge any of its assets as collateral for security lending arrangements as of December 31, 2017.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.5
NOTES TO FINANCIAL STATEMENTS
(3) Collateral ReceivedThrivent Financial's aggregate amount of cash collateral reinvested in its secuities lending program as of December 31, 2017 is:a. Aggregate Amount Collateral Received Fair Value
1. Securities Lending(a) Open $ 364,980,306(b) 30 Days or Less(c) 31 to 60 Days(d) 61 to 90 Days(e) Greater Than 90 Days(f) Sub-Total 364,980,306(g) Securities Received -(h) Total Collateral Received $ 364,980,306
2. 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 $ 364,980,306
c. Information about Sources and Uses of CollateralThrivent Financial receives cash collateral in an amount in excess of the fair value of the securities loaned. The cash collateral is reinvested andadministered by Thrivent Financial, which invests in bonds, cash equivalents and short-term securities.
(4) Aggregate Value of the Reinvested CollateralFor securities lending transactions administered by Thrivent Financial, the aggregate value of Thrivent Financial's reinvested collateral that is reported inthe investment schedules is $365 million. Thrivent Financial has no reinvested collateral administered by Thrivent Financial that is one-line reported.
(5) Collateral Reinvestment
a. Aggregate Amount Collateral Reinvested Amortized Cost Fair Value1. Securities Lending
(a) Open $ 45,235,000 $ 45,235,000(b) 30 Days or Less 238,720,858 238,720,858(c) 31 to 60 Days 49,395,098 49,395,098(d) 61 to 90 Days 12,830,449 12,830,449(e) 91 to 120 Days - -(f) 121 to 180 Days - -(g) 181 to 365 Days 4,999,766 4,999,766(h) 1 to 2 Years 13,799,135 13,799,135(i) 2 to 3 Years - -(j) Greater Than 3 Years - -(k) Sub-Total $ 364,980,306 $ 364,980,306(l) Securities Received - -(m) Total Collateral Reinvested $ 364,980,306 $ 364,980,306
2. 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. Explanation of Additional Sources of Liquidity for Maturity Date MismatchesThe maturity dates of the liabilities generally match the maturity dates of the invested assets.
(6) Detail on Collateral Transactions Not Permitted by Contract or Custom to Sell or RepledgeThrivent Financial has not accepted collateral that it is not permitted to sell or repledge
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.6
NOTES TO FINANCIAL STATEMENTS(7) Collateral for Securities Lending transactions that extend beyond one year from the reporting date.
Collateral for securities lending transactions that extends beyond one year from December 31, 2017:
Description of Collateral AmountLong-term bonds (refer to schedule DL Part 2 for details) $ 13,799,135Total Collateral extending beyond one year of the reporting date $ 13,799,135
F. Repurchase Agreements Transactions Accounted for as Secured Borrowing
Thrivent Financial has no repurchase agreements transactions accounted for as secured borrowing as of December 31, 2017 and 2016.
G. Reverse Repurchase Agreements Transactions Accounted for as Secured BorrowingRepurchase Transactions – Cash Provider – Overview of Secured Borrowing Transactions
Thrivent Financial has no reverse repurchase agreements transactions accounted for as secured borrowing as of December 31, 2017 and 2016.
H. Repurchase Agreements Transactions Accounted for as a SaleRepurchase Transaction – Cash Taker – Overview of Sale Transactions
Thrivent Financial has no repurchase agreements transactions accounted for as a sale as of December 31, 2017 and 2016.
I. Reverse Repurchase Agreements Transactions Accounted for as a SaleRepurchase Transaction – Cash Provider – Overview of Sale Transactions
(1) Company Policy or Strategies for Engaging in Repo ProgramsThrivent Financial has no reverse repurchase agreements transactions accounted for as a sale as of December 31, 2017 and 2016.
J. Real Estate
(1) Recognized Impairment LossDuring 2017, there were no impairment losses recognized on investments in real estate.
(2) Sold or Classified Real Estate Investments as Held for SaleDuring 2017, Thrivent Financial classified approximately $14 million of real estate as held for sale, for which the sale is expected to be completed duringthe next 12 months.
(3) Changes to a Plan of Sale for an Investment in Real EstateThrivent Financial has not experienced any changes to a plan of sale for any investment in real estate.
(4) Retail Land Sales OperationsThrivent Financial does not engage in any retail land sales operations.
(5) Real Estate Investments with Participating Mortgage Loan FeaturesThrivent Financial does not hold real estate investments with participating mortgage loan features.
K. Low-Income Housing Tax Credits (LIHTC)
Thrivent Financial has no investments in low-income housing tax credits as of December 31, 2017 and 2016.
L. Restricted Assets
(1) Restricted Assets (Including Pledged)
Gross (Admitted & Nonadmitted) Restricted Current YearCurrent Year 6 7 8 9 Percentage
1 2 3 4 5 10 11
Restricted AssetCategory
Total GeneralAccount (G/A)
G/A SupportingS/A Activity (a)
Total SeparateAccount (S/A)
RestrictedAssets
S/A AssetsSupporting G/A
Activity (b)Total
(1 plus 3)Total From Prior
Year
Increase/(Decrease) (5
minus 6)
TotalNonadmitted
Restricted
Total AdmittedRestricted(5 minus 8)
Gross (Admitted& Nonadmitted)
Restricted toTotal Assets (c)
AdmittedRestricted to
Total AdmittedAssets (d)
a. Subject tocontractualobligation for whichliability is not shown $ - $ - $ - $ - $ $ $ $ - $ % %
b. Collateral held undersecurity lendingarrangements 364,980,307 - - - 364,980,307 513,022,836 (148,042,529) - 364,980,307 0.4% 0.4%
c. Subject torepurchaseagreements - - - - - % %
d. Subject to reverserepurchaseagreements - - - - - % %
e. Subject to dollarrepurchaseagreements - - - - - % %
f. Subject to dollarreverse repurchaseagreements - - - - - % %
g. Placed under optioncontracts - - - - - % %
h. Letter stock orsecurities restrictedas to sale –excluding FHLBcapital stock - - - - - % %
i. FHLB capital stock - - - - - % %j. On deposit with
states 1,067,677 - - - 1,067,677 1,093,874 (26,197) - 1,067,677 % %k. On deposit with
other regulatorybodies - - - - - % %
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.7
NOTES TO FINANCIAL STATEMENTS
bodies - - - - - % %
Gross (Admitted & Nonadmitted) Restricted Current YearCurrent Year 6 7 8 9 Percentage
1 2 3 4 5 10 11
Restricted AssetCategory
Total GeneralAccount (G/A)
G/A SupportingS/A Activity (a)
Total SeparateAccount (S/A)
RestrictedAssets
S/A AssetsSupporting G/A
Activity (b)Total
(1 plus 3)Total From Prior
Year
Increase/(Decrease) (5
minus 6)
TotalNonadmitted
Restricted
Total AdmittedRestricted(5 minus 8)
Gross (Admitted& Nonadmitted)
Restricted toTotal Assets (c)
AdmittedRestricted to
Total AdmittedAssets (d)
l. Pledged ascollateral to FHLB(including assetsbacking fundingagreements) - - - - - % %
m. Pledged ascollateral notcaptured in othercategories 63,217,000 63,217,000 38,400,000 24,817,000 - 63,217,000 0.1% 0.1%
n. Other restrictedassets - % %
o. Total RestrictedAssets $ 429,264,984 $ $ $ $ 429,264,984 $ 552,516,710 $ (123,251,726) $ $ 429,264,984 0.5% 0.5%
(a) Subset of column 1(b) Subset of column 3(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 (Contacts that Share Similar Characteristics, Such as Reinsurance andDerivatives, are Reported in the Aggregate)
Gross (Admitted & Nonadmitted) Restricted 8 PercentageCurrent Year 6 7 9 10
1 2 3 4 5
Description of AssetsTotal GeneralAccount (G/A)
G/A SupportingS/A Activity (a)
Total SeparateAccount (S/A)
RestrictedAssets
S/A AssetsSupporting G/A
Activity (b)Total
(1 plus 3)Total From Prior
Year
Increase/(Decrease)(5 minus 6)
Total CurrentYear Admitted
Restricted
Gross (Admitted& Nonadmitted)
Restricted toTotal Assets
AdmittedRestricted to
Total AdmittedAssets
Pledged on Futures Contracts 63,217,000 - - - 63,217,000 38,400,000 24,817,000 63,217,000 0.1% 0.1%Total (c) 63,217,000 63,217,000 38,400,000 24,817,000 63,217,000 0.1% 0.1%
(a) Subset of column 1(b) Subset of column 3(c) Total Line for Columns 1 through 7 should equal 5L(1)m Columns 1 through 7 respectively and Total Line for Columns 8 through 10 should equal
5L(1)m Columns 9 through 11 respectively.
(3) Detail of Other Restricted Assets (Contracts that Share Similar Characteristics, such as Reinsurance and Derivatives, are Reported in the Aggregate)
Gross (Admitted & Nonadmitted) Restricted 8 PercentageCurrent Year 6 7 9 10
1 2 3 4 5
Description of AssetsTotal GeneralAccount (G/A)
G/A SupportingS/A Activity (a)
Total SeparateAccount (S/A)
RestrictedAssets
S/A AssetsSupporting G/A
Activity (b)Total
(1 plus 3)Total From Prior
Year
Increase/(Decrease)(5 minus 6)
Total CurrentYear Admitted
Restricted
Gross (Admitted& Nonadmitted)
Restricted toTotal Assets
AdmittedRestricted to
Total AdmittedAssets
NONE - - - - - - % %Total (c) % %
(a) Subset of column 1(b) Subset of column 3(c) Total Line for Columns 1 through 7 should equal 5L(1)n Columns 1 through 7 respectively and Total Line for Columns 8 through 10 should equal
5L(1)n Columns 9 through 11 respectively.
(4) Collateral Received and Reflected as Assets Within the Reporting Entity's Financial Statements
1 2 3 4
Collateral AssetsBook/Adjusted Carrying
Value (BACV) Fair Value
% of BACV to Total Assets(Admitted andNonadmitted)*
% of BACV to Total AdmittedAssets**
a. Cash, Cash Equivalents andShort-Term Investments $ 346,181,406 $ 346,181,406 0.6% 0.6%
b. Schedule D, Part 1 18,798,901 18,798,901 % %c. Schedule D, Part 2, Sec. 1 % %d. Schedule D, Part 2, Sec. 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+i) $ 364,980,307 $ 364,980,307 0.6% 0.6%*. Column 1 divided by Asset Page, Line 26 (Column 1)** Column 1 divided by Asset Page, Line 26 (Column 3)
1 2
Amount% of Liability toTotal Liabilities
k. Recognized Obligation to Return Collateral Asset $ 364,980,307 0.7%* Column 1 divided by Liability Page, Line 23 (Column 1)
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.8
NOTES TO FINANCIAL STATEMENTSM. Working Capital Finance Investments
Thrivent Financial holds no working capital finance investments as of December 31, 2017.
N. Offsetting and Netting of Assets and Liabilities
Thrivent Financial presents securities lending agreements and derivatives on a gross basis in the financial statements.
O. Structured Notes
CUSIPIdentification Actual Cost Fair Value
Book/Adjusted CarryingValue
Mortgage-Referenced
Security(YES/NO)
912810 QF 8 $ 5,500,826 $ 7,424,949 $ 6,110,190 NO912828 B2 5 $ 25,278,875 $ 26,891,237 $ 26,603,876 NO919828 HN 3 $ 15,360,842 $ 17,659,084 $ 17,661,435 NO912828 JE 1 $ 61,903,560 $ 75,178,649 $ 74,128,375 NO912828 MN 8 $ 26,619,880 $ 30,364,592 $ 29,580,905 NO912828 QV 5 $ 80,690,611 $ 83,659,573 $ 84,204,910 NO912828 UH 1 $ 26,816,347 $ 27,568,607 $ 28,134,145 NOXXX $ 242,170,941 $ 268,746,691 $ 266,423,836 XXX
P. 5* Securities
Thrivent Financial held no "5*" securities at December 31, 2017 and 2016.
Q. Short Sales
Thrivent Financial has no investments in short sales as of December 31, 2017.
R. Prepayment Penalty and Acceleration Fees
General Account Separate Account(1) Number of CUSIPs 82 36(2) Aggregate Amount of Investment Income $ 40,661,780 $ 1,519,602
Note 6 – Joint Ventures, Partnerships and Limited Liability Companies
A. Investments in Joint Ventures, Partnerships and Limited Liability Companies that Exceed 10% of OwnershipThrivent Financial has no investments in Joint Ventures, Partnerships, or Limited Liability Companies that exceed 10% of its admitted assets.
B. Investments in Impaired Joint Ventures, Partnerships and Limited Liability CompaniesDuring 2017, there were no impairment losses recognized on investments in Joint Ventures, Partnerships, or Limited Liability Companies.
Note 7 – Investment Income
A. The bases, by category of investment income, for excluding (nonadmitting) any investment income due and accrued: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 total amount excluded:The amount of investment income due and accrued that was nonadmitted and excluded from surplus was $0 and $1 million at December 31, 2017 and 2016,respectively.
Note 8 – Derivative Instruments
A. Market Risk, Credit Risk and Cash RequirementsThrivent Financial uses derivative financial instruments in the normal course of business to manage investment risks, to reduce interest rate and durationimbalances 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.
B. Objectives for Derivative UserThrivent 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 associatedwith its fixed indexed annuities. Purchased call spread options are reported at fair value in other invested assets and written call spread options are reported atfair value in other liabilities. The changes in the fair value of the call spread options are recorded in unrealized gains and losses.
Thrivent Financial utilizes futures contracts to manage a portion of the risks associated with the guaranteed minimum accumulation benefit feature of itsvariable annuity products and to manage foreign equity risk. Cash paid for the futures contracts is recorded in other invested assets. Contracts are settled on adaily basis and recognized in realized gains and losses. The futures contracts are valued at fair value at each reporting period, and the change in the fair valueis recognized in unrealized gains and losses.
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 ofthe swaps, and interest payments received are recorded as a component of net investment income. The statement values of the swaps are $(18) million and$20 million for years ended 2017 and 2016, respectively.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.9
NOTES TO FINANCIAL STATEMENTSThrivent 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 aresettled at month end. Upon disposition of the options, the gains are recorded as a component of net investment income. During the years ended December 31,2017 and 2016, $8 million and $10 million were received in call premium, respectively.
C. Accounting Policies for Recognition and MeasurementSee Note 8, Item B.
D. Net Gain or Loss RecognizedThrivent Financial has no unrealized gains or losses recognized on derivatives designated for hedge accounting that were excluded from the assessment ofhedge effectiveness.
E. Net Gain or Loss Recognized from Derivatives that no Longer Qualify for Hedge AccountingThrivent Financial has no unrealized gains or losses that were recognized on derivatives that no longer qualify for hedge accounting.
F. Derivatives Accounted for as Cash Flow Hedges
Thrivent Financial has no cash flow hedges of forecasted transactions.
Note 9 – Income Taxes
Thrivent Financial is a fraternal benefit society and, as such, is generally exempt from federal income taxes.
Note 10 – Information Concerning Parent, Subsidiaries, Affiliates and Other Related Parties
A. Nature of the Relationship InvolvedThrivent Financial for Lutherans (“Thrivent Financial”) is a fraternal benefit society providing to its members life insurance, retirement products, disabilityincome and long-term care insurance, as well as Medicare supplement insurance. Thrivent Financial is licensed to conduct business throughout the UnitedStates and distributes its products to its members primarily through a network of career financial representatives. Thrivent Financial also offers its membersadditional related financial products and services, such as investment funds and trust services, through its subsidiaries and affiliates.
B. TransactionsThrivent Financial received $14 million and $0 in cash dividends from its wholly-owned subsidiaries, Thrivent Financial Holdings, Inc. (Holdings) and GoldRing Holdings, LLC (Gold Ring), for the years ended December 31,2017 and 2016 respectively. Thrivent Financial contributed capital to these subsidiariestotaling $46 million and $16 million during the years ended December 31, 2017 and 2016, respectively.
Thrivent Financial received $684 million and $765 million in distributions from its majority-owned limited partnerships, Thrivent White Rose Funds Limited(WRF) and Pacific Street Fund Limited (PSF) in 2017 and 2016, respectively. Thrivent Financial contributed capital to these limited partnerships totaling $619million and $509 million during the years ended December 31, 2017 and 2016, respectively.
Thrivent Financial contributed capital to Thrivent Education Funding LLC totaling $8 million and $11 million during the year ended December 31, 2017 and2016, respectively.
C. Dollar Amounts of TransactionsSee Note 10, Item B.
D. Amounts Due From or To Related PartiesAs of December 31, 2017 and 2016, Thrivent Financial has an outstanding net receivable of $12 million and $16 million, respectively, with its affiliates. Alloutstanding intercompany balances are generally settled within 30 days.
E. Guarantees or UndertakingsThrivent Financial has not made any guarantees or other commitments that might result in a material contingent exposure of Thrivent Financial, except asdisclosed in Note 14.
F. Material Management or Service Contracts and Cost-Sharing ArrangementsThrivent Financial has service agreements with various subsidiaries and affiliates, which provide human resources, IT services, facilities, productadministration, marketing support and sales support. The agreements obligate the subsidiaries and affiliates to reimburse Thrivent Financial for the cost ofproviding such services. Costs for these services are allocated amongst the members of the affiliated group using allocation methodologies that are inaccordance with SSAP No. 70, Allocation of Expenses.
G. Nature of the Control RelationshipThrivent Financial is a fraternal benefit society and is owned by its members.
H. Amount Deducted from the Value of Upstream Intermediate Entity or Ultimate Parent OwnedThrivent Financial does not own any shares of stock in any upstream affiliated company.
I. Investments in SCA that Exceed 10% of Admitted AssetsThrivent Financial does not have any investment in any affiliated company with a value of more than 10% of Thrivent Financial’s admitted assets.
J. Investments in Impaired SCAsThrivent Financial does not have any investment in any affiliated company that is impaired.
K. Investment in Foreign Insurance SubsidiaryThrivent Financial does not have any investment in a foreign insurance subsidiary.
L. Investment in Downstream Noninsurance Holding CompanyThrivent Financial has investments in downstream noninsurance companies whose value is determined based on audited GAAP financial statements.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.10
NOTES TO FINANCIAL STATEMENTSM. All SCA Investments
(1) Balance Sheet Value (Admitted and Nonadmitted) All SCAs (Except 8bi Entities)
SCA EntityPercentage of SCA
Ownership Gross Amount Admitted Amount Nonadmitted Amounta. SSAP No. 97 8a Entities
% $ $ $Total SSAP No. 97 8a Entities XXX $ $ $
b. SSAP No. 97 8b(ii) EntitiesThrivent Financial Holdings Inc. 100.0% $ 161,979,597 $ 161,979,597 $Total SSAP No. 97 8b(ii) Entities XXX $ 161,979,597 $ 161,979,597 $
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 (exception 8b(i)entities) (b + c + d) XXX $ 161,979,597 $ 161,979,597 $
f. Aggregate Total (a + e) XXX $ 161,979,597 $ 161,979,597 $
(2) NAIC Filing Response Information
SCA Entity(Should be the same entities as
shown in M(1) above)Type of NAIC
Filing*Date of Filing to
the NAICNAIC Valuation
Amount
NAICResponseReceived
Y/N
NAICDisallowed
EntitiesValuationMethod
ResubmissionRequired Y/N Code**
a. SSAP No. 97 8a Entities$
Total SSAP No. 97 8a Entities XXX XXX $ XXX XXX XXXb. SSAP No. 97 8b(ii) Entities
Thrivent Financial Holdings Inc. S2 05/26/2017 $ 104,755,408 Y NTotal SSAP No. 97 8b(ii) Entities XXX XXX $ 104,755,408 XXX XXX XXX
c. SSAP No. 97 8b(iii) Entities$
Total SSAP No. 97 8b(iii) Entities XXX XXX $ XXX XXX XXXd. 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 (exception 8b(i) entities)(b + c + d) XXX XXX $ 104,755,408 XXX XXX XXX
f. Aggregate Total (a + e) XXX XXX $ 104,755,408 XXX XXX XXX* S1 – Sub-1, S2 – Sub-2 or RDF – Resubmission of Disallowed Filing** I – Immaterial or M – Material
N. Investment in Insurance SCAsThrivent Financial does not have an interest in an insurance SCA which departs from NAIC statutory accounting practices and procedures.
Note 11 – Debt
A. Debt Including Capital NotesThrivent Financial had no outstanding obligations for capital notes, reverse repurchase agreements or borrowed money as of December 31, 2017 and 2016.
B. FHLB (Federal Home Loan Bank) AgreementsThrivent Financial has not entered into any advances, lines of credit or borrowing arrangements with the Federal Home Loan Bank.
Note 12 – Retirement Plans, Deferred Compensation, Postemployment Benefits and Compensated Absences and Other Postretirement Benefit Plans
A. Defined Benefit Plan
(1) Change in Benefit ObligationThrivent Financial has a qualified noncontributory defined benefit retirement plan which provides benefits to substantially all home office and fieldemployees upon retirement. Thrivent Financial also provides certain health care and life insurance benefits for substantially all retired home office and fieldpersonnel.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.11
NOTES TO FINANCIAL STATEMENTSA summary of assets, obligations and assumptions of the Retirement and Other Postretirement Benefit Plans as of December 31 are as follows:
Overfunded Underfunded2017 2016 2017 2016
a. Pension Benefits1. Benefit obligation at beginning of year $ - $ - $ 1,083,172,998 $ 1,111,318,8842. Service cost - - 22,914,119 22,669,4503. Interest cost - - 45,502,116 50,031,3554. Continuation by plan participants - - 81,755,811 215,0355. Actuarial gain (loss) - - 200,000 (57,377,694)6. Foreign currency exchange rate changes - - - -7. Benefits paid - - 46,516,554 43,684,0328. Plan amendments - - - -9. Business combinations, divestitures,
curtailments, settlements and specialtermination benefits - - - -
10. Benefit obligation at end of year $ $ $ 1,187,028,490 $ 1,083,172,998Overfunded Underfunded
b. Postretirement Benefits 2017 2016 2017 20161. Benefit obligation at beginning of year $ - $ - $ 111,408,838 $ 108,855,9302. Service cost - - 1,825,371 1,635,3233. Interest cost - - 4,650,450 4,860,2594. Continuation by plan participants - -5. Actuarial gain (loss) - - 10,078,639 1,254,4246. Foreign currency exchange rate changes - -7. Benefits paid - - 7,511,405 5,197,0988. Plan amendments - -9. Business combinations, divestitures,
curtailments, settlements and specialtermination benefits - - - -
10. Benefit obligation at end of year $ $ $ 120,451,893 $ 111,408,838Overfunded Underfunded
c. Special or Contractual Benefits per SSAP No. 11 2017 2016 2017 20161. Benefit obligation at beginning of year $ - $ - $ - $ -2. Service cost - - - -3. Interest cost - - - -4. Continuation 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 specialtermination benefits - - - -
10. Benefit obligation at end of year $ $ $ $
(2) Change in Plan Assets
Pension Benefits Postretirement BenefitsSpecial or
Benefits perContractualSSAP No. 11
2017 2016 2017 2016 2017 2016a. Fair value of plan assets at
beginning of year $ 935,368,030 $ 892,033,006 $ - $ - $ - $ -b. Actual return on plan assets 126,045,341 66,804,021 - - - -c. Foreign currency exchange
rate changes - - - - - -d. Reporting entity contribution 20,000,000 20,000,000 7,511,405 5,197,098 - -e. Plan participants' contributions 200,000 215,035 - - - -f. Benefits paid 46,516,554 43,684,032 7,511,405 5,197,098 - -g. Business combinations,
divestitures and settlements - - - - - -h. Fair value of plan assets at end
of year $ 1,035,096,817 $ 935,368,030 $ $ $ $
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.12
NOTES TO FINANCIAL STATEMENTS(3) Funded Status
Pension Benefits Postretirement Benefits2017 2016 2017 2016
a. Components1. Prepaid benefit costs $ 154,234,352 $ 151,792,875 $ - $ -2. Overfunded plans assets (154,234,352) (151,792,875) - -3. Accrued benefit costs $ - $ - $ 127,596,272 $ (122,204,500)4. Liability for pension benefits $ 151,931,673 $ 147,804,968 $ (7,144,379) $ (10,795,662)
b. Assets and liabilities recognized1. Assets (nonadmitted) $ - $ - $ - $ -2. Liabilities recognized (151,931,673) (147,804,968) (120,451,893) (111,408,838)
c. Unrecognized liabilities $ - $ - $ - $ -
(4) Components of Net Periodic Benefit Cost
Pension Benefits Postretirement BenefitsSpecial or
Benefits perContractualSSAP No. 11
2017 2016 2017 2016 2017 2016a. Service cost $ 22,914,119 $ 22,669,450 $ 1,825,371 $ 1,635,323 $ - $ -b. Interest cost 45,502,116 50,031,355 4,650,450 4,860,259 - -c. Expected return on plan
assets (69,036,021) (68,076,250) - - - -d. Transition asset or
obligation - - - - - -e. Gains and losses 19,233,582 27,291,855 (1,090,358) (1,340,742) - -f. Prior service cost or
credit (1,055,273) (1,055,276) 7,517,714 7,264,636 - -g. Gain or loss recognized
due to a settlementcurtailment - - - - - -
h. Total net periodic benefitcost $ 17,558,523 $ 30,861,134 $ 12,903,177 $ 12,419,476 $ $
(5) Amounts in Unassigned Funds (Surplus) Recognized as Components of Net Periodic Benefit Cost
Pension Benefits Postretirement Benefits2017 2016 2017 2016
a. Items not yet recognized as a component of net periodiccost – 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 1,055,273 1,055,276 (7,517,714) (7,264,636)e. Net gain and loss arising during the period 24,746,491 (56,105,465) 10,078,639 1,254,424f. Net gain and loss recognized (19,233,582) (27,291,855) 1,090,358 1,340,742g. Items not yet recognized as a component of net periodic
cost – current period $ 6,568,182 $ (82,342,044) $ 3,651,283 $ (4,669,470)
(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 Benefits2017 2016 2017 2016
a. Net transition asset or obligations - - - -b. Net prior service cost or credit - (1,055,276) 4,148,375 7,517,714c. Net recognized gains and losses 18,746,318 19,233,582 (256,488) (1,090,358)
(7) Amounts in Unassigned Funds (Surplus) that have not yet been Recognized as Components of Net Periodic Benefit Cost
Pension Benefits Postretirement Benefits2017 2016 2017 2016
a. Net transition asset or obligations - - - -b. Net prior service cost or credit - (1,055,273) 4,146,536 11,664,250c. Net recognized gains and losses 306,166,025 300,653,116 (11,290,915) (22,459,912)
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.13
NOTES TO FINANCIAL STATEMENTS(8) Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost as of December 31
2017 2016a. Weighted-average discount rate 4.3% 4.6%b. Expected long-term rate of return on plan assets 7.5% 7.8%c. Rate of compensation increase 3.4% 3.4%Weighted-average assumptions used to determine projected benefit obligations as of December 31d. Weighted-average discount rate 3.7% 4.3%e. Rate of compensation increase 3.4% 3.4%
(9) Accumulated Benefit Obligation for Defined Benefit Pension PlansThe amount of the accumulated benefit obligation for the defined benefit plan was $1.2 billion and $1.0 billion for the years ended December 31, 2017 and2016 repsectively.
(10) For Postretirement Benefits Other Than Pensions, the Assumed Health Care Cost Trend Rate(s)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 ofcovered health care benefits was assumed for 2017. The rate was assumed to decrease gradually to 4.50% for 2027 and remain at that level thereafter.
(11) Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A one-percentage point change inassumed health care cost trend rates would have the following effects:For postretirement benefits other than pensions, assumed health care costs trend rates have a significant effect on the amounts reported for the health careplans. A one-percentage-point change in assumed health care cost trend rate would have the following effects:
1 Percentage PointIncrease
1 Percentage PointDecrease
a. Effect on total of service and interest cost components $ 836,404 $ 707,922b. Effect on postretirement benefit obligation $ 13,120,184 $ 11,226,324
(12) The following estimated future payments, which reflect expected future service, as appropriate, are expected to be paid in the year indicated:
Year(s) Amounta. 2017 $ 58,596,000b. 2018 $ 61,901,000c. 2019 $ 65,607,000d. 2020 $ 68,210,000e. 2021 $ 72,013,000f. 2022 through 2027 $ 394,690,000
(13) Estimate of Contributions Expected to be Paid to the PlanThe minimum pension contribution for 2017 under the Employee Retirement Income Security Act of 1974 guidelines will be determined in the first quarter of2018.
(14) Amounts and Types of Securities Included in Plan AssetsPension plan holds $106 million in affiliated mutual funds.
(15) Alternative Method Used to Amortize Prior Serve Amounts or Net Gains and LossesThrivent Financial does not use alternative methods to amortize prior service amounts or unrecognized net gains or losses.
(16) Substantive Comment Used to Account for Benefit ObligationThrivent Financial does not use any substantive commitments as the basis for accounting for the benefit obligation.
(17) Cost of Providing Special or Contractual Termination Benefits RecognizedThrivent Financial did not have any special contractual benefits recognized during the period.
(18) Significant Change in the Benefit Obligation or Plan AssetsThrivent Financial did not have any significant changes in benefit obligations not apparent in other disclosure requirements of SSAP No. 102, Pensions andSSAP No. 92, Postretirement Benefits Other Than Pensions.
(19) Amount and Time Plan Assets Expected to be ReturnedThere are no plans to return plan assets to Thrivent Financial during 2017 or beyond.
(20) Accumulated Postretirement and Pension Benefit Obligation and Fair Value of Plan Assets for Defined Postretirement and Pension Benefit PlansSee 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) forbenefit plan related surplus impacts during 2017 and 2016.
(21) Full Transition Surplus Impact of SSAP 102Thrivent 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 2017.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.14
NOTES TO FINANCIAL STATEMENTSB. Investment Policies and Strategies
The defined benefit pension plan asset allocation as of the measurement date December 31 and the target asset allocation, presented as a percentage oftotal plan assets were as follows:
2017 2016TargetAllocation
a. Debt Securities 34% 39% 40%b. Equity Securities 66% 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 setsinvestment guidelines, which are established based on market conditions, risk tolerance, funding requirements and expected benefit payments. A thirdparty oversees the investment allocation process and monitors asset performance. As pension liabilities are long-term in nature, Thrivent Financialemploys 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 alsodiversified in terms of domestic and international securities, short and long-term securities, growth and value styles, large cap and small cap stocks, activeand passive management and derivative-based styles. With prudent risk tolerance and asset diversification, the plan is expected to meet its pensionobligations in the future.
C. Fair Value of Plan Assets
(1) Fair Value Measurements of Plans Assets at Reporting DateDescription for each class of plan assets (Level 1) (Level 2) (Level 3) TotalU.S. government and agency securities $ 61,852,573 $ 3,144,215 $ - $ 64,996,788U.S. state and political subdivision securities $ - $ - $ - $Securities issued by foreign governments $ - $ 765,709 $ - $ 765,709Corporate debt securities $ - $ 199,124,623 $ 611,826 $ 199,736,449Residential mortgage-backed securities $ - $ 107,450,479 $ 333,929 $ 107,784,408Commercial mortgage-backed securities $ - $ 7,325,613 $ - $ 7,325,613Collateralized debt obligations $ - $ - $ - $Other debt obligations $ - $ 7,382,920 $ 60,000 $ 7,442,920Common stocks $ 443,044,607 $ 8,368,845 $ 8,287 $ 451,421,739Preferred Stock $ - $ - $ - $Affiliated mutual funds - equity funds $ - $ 105,676,828 $ - $ 105,676,828Short-term investments $ 492,318 $ 120,207,261 $ - $ 120,699,579Limited Partnerships $ - $ - $ 60,777,936 $ 60,777,936Derivatives $ - $ $ 656,552 $ 656,552Total Plan Assets $ 505,389,498 $ 559,446,493 $ 62,448,530 $ 1,127,284,521
(2) Fair Value Measurements in Level 3 of the Fair Value Hierarchy
Description for each class of planassets
BeginningBalance at1/1/2017
Transfersinto Level 3
Transfersout of Level
3
Return onAssets Still
HeldReturn on
Assets Sold Purchases Issuances Sales Settlements
EndingBalance at12/31/2017
Limited Partnerships $34,797,421 $ - $ - $ 7,417,089 $ - $26,501,674 $ - $ 7,938,248 $ $60,777,936Residential mortgage-backedsecurities $ 380,656 $ - $ - $ 21,074 $ - $ - $ - $ 67,802 $ $ 333,928Corporate Debt Securities $ 828,089 $ - $ - $ 6,133 $ - $ 596,504 $ - $ 818,900 $ $ 611,826Collateralized Debt Obligations $ - $ - $ - $ - $ - $ 60,000 $ - $ - $ - $ 60,000Derivatives $ - $ - $ - $ - $ - $ 656,552 $ - $ - $ - $ 656,552Total Plan Assets $36,006,166 $ $ $ 7,444,296 $ $27,814,730 $ $ 8,824,950 $ $62,440,242
(3) Valuation Technique(s) and Inputs Used to Measure Fair ValueSee footnote 20c for discusstion regarding valuation techniques and inputs used to measure fair value.
D. Basis Used to Determine Expected Long-Term Rate-of-Return
Thrivent Financial periodically evaluates the long-term earned rate assumptions, taking into consideration historical performance of the plan's assets as well ascurrent asset diversification and investment strategy in determining the rate of return assumptions used in calculating the plans' benefit expenses and obligation.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.15
NOTES TO FINANCIAL STATEMENTSE. Defined Contribution Plans
Thrivent Financial provides contributory and noncontributory defined contribution retirement benefits, which cover substantially all home office and fieldemployees. Eligible participants in the 401(k) plan may elect to contribute a percentage of their eligible earnings and Thrivent Financial will match participantcontributions up to six percent of eligible earnings. In addition, Thrivent Financial will contribute a percentage of eligible earnings for participants in anon-contributory plan for field employees. Employer contributions to the plans were $35 million and $34 million for the years ended December 31, 2017 and 2016,respectively.
A portion of the assets of the defined contribution plans were invested in a deposit administration contract by Thrivent Financial. The amounts of these assetswere $86 million and $90 million as of December 31, 2017 and 2016, respectively.
F. Multiemployer Plans
Thrivent Financial does not participate in any multi-employer plans.
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 (INT 04-17)
(1) Recognition of the Existence of the ActThe Medicare Prescription Drug, Improvement and Modernization Act of 2003 includes a federal subsidy to sponsors of retirement health care plans thatprovide a prescription benefit that is at least actuarially equivalent to Medicare Part D.
(2) Effects of the Subsidy in Measuring the Net Postretirement Benefit CostThrivent's Medicare prescription plan is fully insured and therefore the plan's insurer receives the federal subsidy.
(3) Disclosure of Gross Benefit PaymentsThrivent Financial offers a prescription benefit option of a fully insured Medicare Part D Plan to insureds of a retirement health care plan. Thrivent Financialand 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 theinsured.
Note 13 – Capital and Surplus, Dividend Restrictions and Quasi-Reorganizations
(1) Number of Share and Par or State Value of Each Class
Thrivent Financial has no common stock authorized, issued or outstanding.
(2) Dividend Rate, Liquidation Value and Redemption Schedule of Preferred Stock Issues
Thrivent Financial has no preferred stock authorized, issued or outstanding.
(3) Dividend Restrictions
Thrivent Financial does not pay ordinary dividends as a fraternal benefit society.
(4) Dates and Amounts of Dividends Paid
Thrivent Financial does not pay ordinary dividends as a fraternal benefit society
(5) Profits that may be Paid as Ordinary Dividends to Stockholders
Thrivent Financial does not pay ordinary dividends as a fraternal benefit society.
(6) Restrictions Plans on Unassigned Funds (Surplus)
There are no restrictions on Thrivent Financial's unassigned surplus.
(7) Amount of Advances to Surplus not Repaid
There have been no advances to surplus not repaid.
(8) Amount of Stock Held for Special Purposes
There was no stock held by Thrivent Financial for special purposes.
(9) Reasons for Changes in Balance of Special Surplus Funds from Prior Period
Thrivent Financial has no special surplus funds.
(10) The Portion of Unassigned Funds (Surplus) Represented or Reduced by Unrealized Gains and Losses is: $509,897,526.
(11) The Reporting Entity Issued the Following Surplus Debentures or Similar ObligationsThrivent Financial has issued no surplus debentures.
(12) The impact of any restatement due to prior quasi-reorganizations is as followsThrivent Financial has not completed any quasi-reorganizations.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.16
NOTES TO FINANCIAL STATEMENTS(13) Effective Date of Quasi-Reorganization for a Period of Ten Years Following Reorganization
Thrivent Financial has not completed any quasi-reorganizations.
Note 14 – Liabilities, Contingencies and Assessments
A. Contingent Commitments
(1) Total SSAP No. 97, Investments in Subsidiary, Controlled, and Affiliated Entities, A Replacement of SSAP No. 88, and SSAP No. 48, Joint Ventures,Partnerships and Limited Liability Company contingent liabilities: $ 0 .
(2) Detail of other contingent commitmentsThrivent Financial has guaranteed that it will maintain the capital and surplus of its insurance affiliate and its trust affiliate above certain levels required by itsrespective regulatory authority.
Thrivent Financial has commitments to extend credit for mortgage loans and other lines of credit of $233 million.
Thrivent Financial has commitments to fund joint ventures, private placement bonds, and limited partnerships of $3.5 billion.
Nature and Circumstances of Guarantee and Key Attributes,Including Date and Duration of Agreement
Liability Recognitionof Guarantee,
(Including AmountRecognized at
Inception. If no InitialRecognition,
Document ExceptionAllowed UnderSSAP No. 5R)
Ultimate FinancialStatement Impact if
Action under theGuarantee is
Required
Maximum PotentialAmount of Future
Payments(Undiscounted) theGuarantor could beRequired to make
under theGuarantee. If unable
to Develop anEstimate, this
Should beSpecifically Noted
Current Status ofPayment or
Performance Risk ofGuarantee. Also
Provide AdditionalDiscussion as
WarrantedUnder the terms of a guarantee of a letter of credit issued by localbanks, Thrivent Financial is obligated to make an advance if a localcivic organization is unable to make timely payments on its debtsecured by a letter of credit from the local banks. ThriventFinancial's guarantee is secured by the civic organization's assets,which include all funds held by the organization to support the debtand the organization's building. Thrivent Financial would acquirethese assets in the event of default.
$ No LiabilityRecognized
General InsuranceExpenses $ 36,700,000 Remote
Total $ XXX $ 36,700,000 XXX
(3) Guarantee ObligationsThe following table provides an aggregate compliation of guarantee obligations by Thrivent Financial as of December 31, 2017:
a. Aggregate maximum potential of future payments of all guarantees (undiscounted) the guarantor could be required to makeunder guarantees. (Should equal total of column 4 for (2) above. $ 36,700,000
b. Contingent liabilities recognized in F/S.1. Noncontingent liabilities $2. Contingent liabilities $
c. Ultimate financial statement impact if action under the guarantee is required.1. Investments in SCA $2. Joint Venture3. Dividends to stockholders (capital contribution)4. Expense5. Other 36,700,0006. Total (should equal (3)a) $ 36,700,000
B. Assessments
(1) Assessments Where Amount is Known or UnknownThrivent Financial is not aware of any assessments that could have a material financial effect.
(2) AssessmentsThrivent Financial has no assets recognized from paid and accrued premium tax offsets and policy surcharges.
(3) Guaranty Fund Liabilities and Assets Related to Assessments from Insolvencies for Long-Term Care ContractsThe assessments for Long-Term Care insolvencies related guaranty funds liabilites and assets are not applicable for Thrivent Financial.
C. Gain ContingenciesThrivent 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 - Total SSAP 97 and SSAP 48 Contingent LiabilitiesThrivent Financial had no significant claim activity related to extra contractual obligations or bad faith losses from lawsuits during 2017.
E. Joint and Several LiabilitiesThrivent Financial does not have any joint and several liability arrangements.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.17
NOTES TO FINANCIAL STATEMENTSF. All Other Contingencies
Thrivent Financial is involved in various lawsuits, contractual matters and other contingencies that have arisen in the normal course of business. Thrivent Financialassesses its exposure to these matters periodically and adjusts its provision accordingly. As of December 31, 2017, Thrivent Financial believes adequateprovision has been made for any losses that may result from these matters.
Note 15 – Leases
A. Lessee Operating Lease
(1) Lessee's Leasing Arrangements
Thrivent Financial leases office equipment and real estate under various noncancelable operating lease agreements that expire at various datesthrough 2021. Rental expense for the year ended December 31, 2017 and 2016 was $17 million and $14 million, respectively.
(2) Leases with Initial or Remaining Noncancelable Lease Terms in Excess of One Year
a. At January 1, 2018 the minimum aggregate rental commitments are as follows:
Year Ending December 31 Operating Leases1. 2018 $ 5,573,0002. 2019 $ 3,930,0003. 2020 $ 2,947,0004. 2021 $ 1,838,0005. 2022 $ -6. Total $ 14,288,000
Thrivent Financial has no noncancelable subleases as of December 31, 2017.
(3) For Sale-Leaseback Transactions
Thrivent Financial was not involved in any material sale-leaseback transactions.
B. Lessor Leases
Leasing is not a significant part of Thrivent Financial's business activities as lessor.
Note 16 – Information about Financial Instruments with Off-Balance Sheet Risk and Financial Instruments with Concentrations of Credit Risk
9. The table below summarizes the notional amount of the Company's financial instruments with off-balance sheet risk:
Assets Liabilities2017 2016 2017 2016
a. Swaps $ 201,981,053 $ 146,369,148 $ 227,441,800 $ 30,500,000b. Futures 344,046,448 327,650 - -c. Options 339,479,338 170,740,118 381,037,864 327,538,667d. Total $ 885,506,839 $ 317,436,916 $ 608,479,664 $ 358,038,667
See Schedule DB of Thrivent Financial's annual statement for additional detail.
2. Nature and Terms of Off-Balance Sheet RiskThrivent Financial utilizes financial instruments in the normal course of business to manage investment risks, reduce interest rate and duration imbalances.
3. Amount of Loss if any Party to the Financial Instrument FailedThrivent Financial had options with an unrealized gain of $3 million and $0.7 million as of December 31, 2017 and 2016, respectively. Thrivent Financial had openswap agreements with a statement value for the swaps are $(17) million and $19.5 million as of December 31, 2017 and 2016, respectively. The statement valueof the options is $11.5 million and $4.5 million as of December 31, 2017 and 2016, respectively.
4. Collateral or Other Security Required to Support Financial InstrumentCollateral in the amount of $18 million has been pledged to support swap and option investments.
Note 17 – Sale, Transfer and Servicing of Financial Assets and Extinguishments of Liabilities
A. Transfers of Receivables Reported as Sales
Thrivent Financial did not enter into any transfers of receivables reported as sales during the years ended December 31, 2017 and 2016.
B. Transfer and Servicing of Financial Assets
(1) Description of any Loaned SecuritiesSecurities 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 againstcollateral received on a daily basis. Additional collateral is obtained as necessary to ensure such transactions are adequately collateralized. The SAPfair value of loaned securities at December 31, 2017 is $357 million.
(2) Servicing Assets and Servicing LiabilitiesNone
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.18
NOTES TO FINANCIAL STATEMENTS(3) When Servicing Assets and Liabilities are Measured at Fair Value
None
(4) Securitizations, Asset-Based Financing Arrangements and Similar Transfers Accounted for as SalesNone
(5) Disclosure Requirements for Transfers of Assets Accounted for as Secured BorrowingNone
(6) Transfer of Receivables with RecourseNone
(7) Securities Underlying Repurchase and Reverse Repurchase Agreements, Dollar Repurchase and Dollar Reverse Repurchase AgreementsNone
C. Wash Sales
(1) Description of the Objectives Regarding These TransactionsIn the normal course of Thrivent Financial's asset management activities, we periodically acquire securities that we had previously sold.
(2) The details by NAIC designation 3 or below, or unrated of securities sold during the year ended December 31, 2017 and reacquired within 30 days of thesale date are:
DescriptionNAIC
DesignationNumber of
TransactionsBook Value ofSecurities Sold
Cost of SecuritiesRepurchased Gain/(Loss)
Bonds: $ $ $NAIC 3 19 $ 15,712,607 $ 16,047,173 $ 2,451,060NAIC 4 20 $ 7,458,984 $ 6,311,591 $ 1,099,770
$ $ $Preferred Stock: $ $ $NAIC/ RP 3 1 $ 2,542,981 $ 2,761,754 $ 492,655
Note 18 – Gain or Loss to the Reporting Entity from Uninsured Plans and the Portion of Partially Insured Plans
A. ASO Plans
Thrivent Financial has no uninsured accident and health plans, nor does it serve as an administrator for an uninsured portion of partially insured plans.
B. ASC Plans
Thrivent Financial has no uninsured accident and health plans, nor does it serve as an administrator for an uninsured portion of partially insured plans.
C. Medicare or Similarly Structured Cost Based Reimbursement Contract
Thrivent Financial has no uninsured accident and health plans, nor does it serve as an administrator for an uninsured portion of partially insured plans.
Note 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.
Note 20 – Fair Value Measurements
A. Fair Value Measurements (1) Fair Value Measurements at Reporting Date
Level 1 Level 2 Level 3 Total
Net Asset Value(NAV) Included in
Level 2Assets at Fair Value
Bonds $ 268,746,691 $ - $ - $ 268,746,691 $Unaffiliated common stocks: $ 1,303,779,369 $ 58,367,555 $ 198,328 $ 1,362,345,252 $Cash, Cash Equivalents and Short-term investments $ 106,066,149 $ - $ - $ 106,066,149 $Assets held in Separate account assets $ - $ 30,491,548,875 $ - $30,491,548,875 $Otther invested assets $ - $ 9,569,100 $ 37,847,591 $ 47,416,691 $Total $ 1,678,592,209 $ 30,559,485,530 $ 38,045,919 $32,276,123,658 $
Liabilities at Fair ValueOther Liabilities $ - $ 26,832,436 $ 26,312,250 $ 53,144,686 $Total $ $ 26,832,436 $ 26,312,250 $ 53,144,686 $
Thrivent Financial had no transfers into or out of Level 1 or 2 fair value measurements during 2017 or 2016.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.19
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:
BeginningBalance at1/1/2017
Transfers IntoLevel 3
Transfers Out ofLevel 3
Total Gains and(Losses)
Included in NetIncome
Total Gains and(Losses)
Included inSurplus Purchases Issuances Sales
Settle-ments
Ending Balanceat 12/31/2017
a. AssetsUnaffiliated common stocks $ - $ - $ - $ - $ (455,931) $ 654,259 $ - $ - $ - $ 198,328Other invested assets $ 14,264,435 $ - $ - $ (20,036,422) $ 34,193,175 $ 19,775,638 $ - $ (10,349,235) $ - $ 37,847,591Total $ 14,264,435 $ $ $ (20,036,422) $ 33,737,244 $ 20,429,897 $ $ (10,349,235) $ $ 38,045,919b. LiabilitiesOther liabilities $ 9,812,730 $ - $ - $ 17,013,880 $ (18,671,290) $ 11,583,724 $ - $ 6,573,206 $ - $ 26,312,250Total $ 9,812,730 $ $ $ 17,013,880 $ (18,671,290) $ 11,583,724 $ $ 6,573,206 $ $ 26,312,250
(3) Policies when Transfers Between Levels are Recognized
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
2017 $ - $ - $ - $ 53,963,626 $ - $ 102,354,288
2016 $ - $ - $ - $ 96,762,879 $ - $ 261,096,784
(4) Description of Valuation Techniques and Inputs Used in Fair Value MeasurementThe financial instruments of Thrivent Financial have been classified, for disclosure purposes, into one of three categories based on the evaluation of the amountof 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 unaffiliatedcommon stocks primarily are valued using quoted prices in active markets. Short-term investments consist of money market mutual funds whose fair value isbased 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. Treasurybonds, 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 usingsignificant observable inputs. The fair values for separate account assets are based on published daily net asset values of the funds in which the separateaccounts are invested.
Level 2 financial instruments not reported at fair value include bonds, unaffiliated preferred stocks, cash equivalents and short-term investments, other investedassets 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 partypricing 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 obtainbroker quotes or utilize an internal pricing model specific to the asset. The internal pricing models apply practices that are standard among the industry andutilize observable market data. Fair values of unaffiliated preferred stocks are based on market quotes where these securities are not considered activelytraded. Cash equivalents and short-term investments includes investments in commercial paper and agency notes. The carrying amounts for theseinvestments approximate their fair values. Other invested assets include investments in surplus notes in which the fair values are based on quoted marketprices. 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 usingindependent 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 pricingmodels specific to the assets using unobservable inputs such as issuer spreads, estimated cash flows, internal credit ratings and volatility adjustments. Marketcomparable 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 highlystructured 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 observablemarket 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 applyingcurrent 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 toborrowers with similar credit ratings. Loans with similar characteristics are aggregated for purposes of the calculations. The carrying amounts for contract loansapproximate their fair values. The fair value of real estate properties held-for-sale is based on either current market price assessments, current purchaseagreements or market appraisals. Other invested assets primarily include real estate joint ventures. The fair values of real estate joint venture investments arederived using GAAP audited financial statements.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.20
NOTES TO FINANCIAL STATEMENTSThe fair values for deferred annuities and other deposit contracts, which include supplementary contracts without life contingencies, deferred income settlementoptions and refunds on deposit, are estimated to be the cash surrender value payable upon immediate withdrawal. The fair values for other liabilities, whichconsist of certain derivatives, are derived from broker quotes.
(5) Fair Value DisclosuresThe fair value disclosures for derivative assets and liabilities held at fair value on a gross basis are included in paragraph 1 above. Certain derivative assets andliabilities have been classified as Level 3 and the disclosures required are incorporated into paragraphs 2-4 above.
B. Fair Value Reporting under SSAP 100 and Other Accounting Pronouncements
Thrivent Financial elects to disclose only fair value per SSAP No. 100, Fair Value.
C. Fair Value Level
The reported value and fair value of all financial instruments as of December 31, 2017 are presented below:
Type of Financial InstrumentAggregate Fair
Value Admitted Assets (Level 1) (Level 2) (Level 3)Not Practicable(Carrying Value)
Net Asset Value(NAV) Included
in Level 2Financial Assets: $ $ $ $ $ $ $Bonds $45,632,033,871 $43,291,168,671 $ 2,310,710,011 $34,584,354,360 $8,736,969,500 $ - $ -Unaffiliated preferred stocks $ 286,384,118 $ 156,454,194 $ - $ 78,900,473 $ 207,483,646 $ - $ -Unaffiliated common stocks $1,362,345,252 $ 1,362,345,252 $ 1,303,779,369 $ 58,367,555 $ 198,328 $ - $ -Mortgage loans $8,610,536,147 $ 8,202,140,642 $ - $ - $8,610,536,147 $ - $ -Real estate (held for sale) $ 69,017,720 $ 14,168,844 $ - $ - $ 69,017,720 $ - $ -Cash, cash equivalents and S.T.investments $1,576,912,014 $ 1,573,261,343 $ 106,066,149 $1,468,610,325 $ 2,235,540 $ - $ -Contract loans $1,160,638,793 $ 1,160,638,793 $ - $ - $1,160,638,793 $ - $ -Derivative assets $ 48,645,886 $ 47,423,796 $ - $ 10,798,295 $ 37,847,591 $ - $ -Other invested assets - limitedpartnerships $3,197,446,744 $ 3,197,446,738 $ - $ - $3,197,446,744 $ - $ -Other invested assets - other $ 183,366,225 $ 156,180,346 $ - $ 104,930,013 $ 78,436,212 $ - $ -Separate account assets $30,491,548,875 $30,491,548,875 $ - $30,491,548,875 $ - $ - $ -Liabilities: $ $ $ $ - $ $ - $ -Deferred annuities $13,404,788,016 $13,616,192,872 $ - $ - $13,404,788,016 $ - $ -Other deposit contracts $1,065,200,043 $ 1,065,200,043 $ - $ - $1,065,200,043 $ - $ -Derivative liabilities $ 56,897,868 $ 53,144,686 $ - $ 30,585,618 $ 26,312,250 $ - $ -Separate account liabilities $30,447,788,605 $30,447,788,605 $ - $30,447,788,605 $ - $ - $ -
D. Not Practicable to Estimate Fair Value
Thrivent Financial has no financial instruments where it is not practicable to estimate the fair value as of December 31, 2017
Note 21 – Other Items
A. Unusual or Infrequent ItemsThrivent Financial had no unusual or infrequent events or transaction.
B. Troubled Debt Restructuring DebtorsThrivent Financial had no troubled debt restructuring.
C. Other DisclosuresThrivent Financial had no other items requiring disclosure.
D. Business Interruption Insurance RecoveriesThrivent Financial had no business interruption insurance recoveries that have occurred during the years ended December 31, 2017 and 2016.
E. State Transferable and Non-Transferable Tax Credits Carrying Value of Transferable and Non-Transferable State Tax Credits Gross of any Related Tax Liabilities and Total Unused Transferable and
Non-Transferable State Tax Credits by State and in TotalThrivent Financial had no state transferable and non-transferable tax credits.
F. Subprime Mortgage Related Risk Exposure
(1) Description of the Subprime-Mortgage-Related Risk Exposure and Related Risk Management PracticesThrivent Financial holds approximately $157 million of residential mortgage backed securities that meet our definition of subprime mortgage exposurewhich is based on a FICO score of less than 650 or mortgages with less than conventional documentation. The majority of Thrivent Financial's exposureis fixed rate mortgage loans. Thrivent Financial values these securities according to our standard policies and procedures which include obtainingindependent third-party quotes. Thrivent Financial monitors these securities for positive or negative indicators of changes in risk and manages theaggregate portfolio against a target total rate of return.
(10) Direct Exposure Through Investments in Subprime Mortgage LoansAs of December 31, 2017, Thrivent Financial has no direct exposure through investments in subprime mortgage loans.
(11) Direct Exposure Through Other Investments
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.21
NOTES TO FINANCIAL STATEMENTS
Actual Cost
Book/Adjusted CarryingValue (Excluding
Interest) Fair Value
Other-Than-TemporaryImpairment Losses
Recognizeda. Residential mortgage backed securities $ 201,142,369 $ 157,033,059 $ 175,757,048 $ 1,417,912b. Commercial mortgage backed
securitiesc. Collateralized debt obligationsd. Structured securitiese. Equity investments in SCAs*f. Other assetsg. Total $ 201,142,369 $ 157,033,059 $ 175,757,048 $ 1,417,912* These investments comprise % of the company's invested assets.
(12) Underwriting Exposure to Subprime Mortgage Risk Through Mortgage Guaranty or Financial Guaranty Insurance CoverageAs of December 31, 2017, Thrivent Financial has no underwriting exposure through Mortgage Guaranty or Financial Guaranty insurance coverage.
G. Retained Assets
Thrivent Financial has no Retained Assets Accounts.
H. Insurance-Linked Securities (ILS) Contracts
Thrivent Financial does not participate in any insurance-linked security transactions.
Note 22 – Events Subsequent
A. Did the reporting entity write accident and health insurance premium that is subject to Section 9010 of theFederal Affordable Care Act (YES/NO)? Yes [ ] No [ X ]
B. ACA fee assessment payable for the upcoming year $ - $ -C ACA fee assessment paid - -D. Premium written subject to ACA 9010 assessment - -E. Total adjusted capital before surplus adjustment (Five-Year Historical Line 17) $ 9,666,283,406F. Total adjusted capital (Five-Year Historical Line 17 minus 22B above) $ 9,666,283,406G. Authorized control level $ -H. Would reporting the ACA assessment as of December 31, 2017 have triggered an
RBC action level (YES/NO)? Yes [ ] No [ X ]
Note 23 – Reinsurance
A. Ceded Reinsurance Report
Section1 – 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 the company or by
any representative, officer, trustee, or director of the company? Yes [ ] No [ X ]If yes, give full details.
(2) Have any policies issued by the company been reinsured with a company chartered in a country other than the United States (excluding U.S. Branches ofsuch companies) that is owned in excess of 10% or controlled directly or indirectly by an insured, a beneficiary, a creditor or any other person notprimarily engaged in the insurance business? Yes [ ] No [ X ]If yes, give full details.
Section 2 – Ceded Reinsurance Report – Part A(1) Does the company 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 ]a. If yes, what is the estimated amount of the aggregate reduction in surplus of a unilateral cancellation by the reinsurer as of the date of this
statement, for those agreements in which cancellation results in a net obligation of the reporting entity to the reinsurer, and for which such obligationis not presently accrued? Where necessary, the reporting entity may consider the current or anticipated experience of the business reinsured inmaking this estimate. $
b. What is the total amount of reinsurance credits taken, whether as an asset or as a reduction of liability, for these agreements in this statement? $
(2) Does the reporting entity have any reinsurance agreements in effect such that the amount of losses paid or accrued through the statement date mayresult in a payment to the reinsurer of amounts that, in aggregate and allowing for offset of mutual credits from other reinsurance agreements with thesame reinsurer, exceed the total direct premium collected under the reinsured policies? Yes [ ] No [ X ]If yes, give full details.
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 reinsuranceagreements, by either party, as of the date of this statement? Where necessary, the company may consider the current or anticipated experience of thebusiness reinsured in making this estimate. $NONE
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.22
NOTES TO FINANCIAL STATEMENTS(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 the company as of the effective date of the agreement? Yes [ ] No [ X ]If yes, what is the amount of reinsurance credits, whether an asset or a reduction of liability, taken for such new agreements or amendments? $
B. Uncollectible Reinsurance
Thrivent Financial has not written off any reinsurance balances due from other companies as uncollectible during the years ended December 31, 2017 and2016.
C. Commutation of Ceded Reinsurance
Thrivent Financial has not commuted any reinsurance with other companies.
D. Certified Reinsurer Rating Downgraded or Status Subject to Revocation
Not Applicable
E. Reinsurance of variable annuity contracts/certificates with an affiliated captive reinsurerThrivent Financial has not entered into any reinsurance of variable annuity contracts with an affiliated captive reinsurer.
F. Reinsurance Agreement with Affiliated Captive ReinsurerThrivent Financial has not entered into any reinsurance of variable annuity contracts with an affiliated captive reinsurer.
G. Ceding Entities That Utilize Captive Reinsurers to Assume Reserves Subject to the XXX/AXXX Captive Framework
Thrivent Financial has no Risk-Based Capital short fall that exists per the Risk-Based Capital XXX/AXXX Captive Reinsurance Consolidated Exhibit.
Note 24 – Retrospectively Rated Contracts and Contracts Subject to Redetermination
Thrivent Financial does not sell any products that are retrospectively rated or subject to redetermination.
Note 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.
Thrivent Financial does not have a provision for incurred loss and loss adjustment expenses, attributable to insured events of prior years.
Note 26 – Intercompany Pooling Arrangements
Thrivent Financial was not part of a group of affilitated insurers that utilizes a pooling arrangement during the statement period.
Note 27 – Structured Settlements
Thrivent Financial did not enter into any structured settlement agreements during the years ended December 31, 2017 and 2016.
Note 28 – Health Care Receivables
Thrivent Financial has no health care receivables as of December 31, 2017 and 2016.
Note 29 – Participating Policies
For the year ended December 31, 2017, all premiums received were issued under participating policies. Thrivent Financial accounts for its contractholder dividendsbased upon the accrual basis and paid dividends in the amount of $316 million to contract holders for the year ended December 31, 2017.
Note 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 reservesare required. A gross premium valuation is not performed for Medicare Supplement because premiums are revised annually and annual loss ratios for the lineof business are managed below 100%.
At year-end 2017, no premium deficiency reserve is required for Disability Income. A premium deficiency reserve of $567 million is held for Long Term CareInsurance as of December 31, 2017.
1. Liability carried for premium deficiency reserve: $567,000,000
2. Date of most recent evaluation of this liability: December 31, 2017
3. Was anticipated investment income utilized in the calculation? Yes [ X ] No [ ]
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.23
NOTES TO FINANCIAL STATEMENTSNote 31 – Reserves for life contracts and deposit-type Contracts
(1) Reserve PracticesThrivent 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) Valuation of Substandard PoliciesOrdinary certificates issued on a substandard basis are valued in the same manner as standard certificates, except that the valuation mortality rates are loaded toreflect the substandard rating.
(3) Amount of Insurance Where Gross Premiums are Less than the Net PremiumsAs of December 31, 2017 and 2016, Thrivent Financial had $16.0 billion and $14.0 billion, respectively, of insurance in force for which the gross premiums areless than the net premiums according to the standard valuation set by the State of Wisconsin. Reserves to cover the above insurance totaled $71 million and $63million as of December 31, 2017 and 2016, respectively, and are reported in Exhibit 5, Life Insurance.
(4) Method Used to Determine Tabular Interest, Reserves Released, and CostThe 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 byformula as described in the instructions for Page 7.
(5) Method of Determination of Tabular Interest on Funds not Involving Life ContingenciesThe Tabular Interest for supplementary contracts not involving life contingencies (Page 14, Exhibit 7, Line 3) has been determined by formula as described in theinstructions for Page 7.
(6) Details for Other Changes
Thrivent Financial had no significant reserve changes in 2017.
Note 32 – Analysis of Annuity Actuarial Reserves and Deposit Liabilities by Withdrawal Characteristics
Withdrawal Characteristics of Annuity Actuarial Reserves and Deposit-Type Contract Funds and other Liabilities without Life or Disability Contingencies
GeneralAccounts
SeparateAccount withGuarantees
SeparateAccount
Nonguaranteed Total % of TotalA. (1) Subject to Discretionary
Withdrawal:With market value adjustment $ $ 337,994,923 $ $ 337,994,923 0.7%
(2) At book value less currentsurrender charge of 5% or more 4,962,760,696 4,962,760,696 10.3%
(3) At fair value 28,421,508,358 28,421,508,358 59.2%(4) Total with market value adjustment
or at fair value (total of 1 through 3) $ 4,962,760,696 $ 337,994,923 $ 28,421,508,358 $ 33,722,263,977 70.2%(5) At book value without adjustment
(minimal or no charge oradjustment) 12,910,428,697 12,910,428,697 26.9%
B. Not subject to discretionary withdrawal 1,340,371,648 59,091,426 1,399,463,074 2.9%C. Total (gross: direct + assumed) 19,213,561,041 337,994,923 28,480,599,784 48,032,155,748 100.0%D. Reinsurance cededE. Total (net (C) - (D) $ 19,213,561,041 $ 337,994,923 $ 28,480,599,784 $ 48,032,155,748
F. Life and Accident & Health Annual Statement:
(1) Exhibit 5, Annuities, Total (net) $ 14,241,322,195(2) Exhibit 5, Supplementary contracts with life contingencies, Total (net) 1,551,612,065(3) Exhibit 7, Deposit-type contracts, Line 14, Column 1 3,420,626,781(4) Subtotal $ 19,213,561,041
Separate Accounts Statement:(5) Exhibit 3, Line 0299999, Column 2 $ 28,741,342,403(6) Exhibit 3, Line 0399999, Column 2 48,905,495(7) Policyholder dividend and coupon accumulations(8) Policyholder premiums(9) Guaranteed interest contracts(10) Other contract deposit funds 28,346,809(11) Subtotal $ 28,818,594,707(12) Combined Total $ 48,032,155,748
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.24
NOTES TO FINANCIAL STATEMENTSNote 33 – Premium and Annuity Considerations Deferred and Uncollected
A. Deferred and uncollected life insurance premiums and annuity considerations as of end of December 31, 2017 were:
Gross Net of Loading(1) Industrial $ $(2) Ordinary new business 6,900,414 4,030,892(3) Ordinary renewal 49,178,246 104,493,150(4) Credit life(5) Group life(6) Group annuity(7) Totals $ 56,078,660 $ 108,524,042
Note 34 – Separate Accounts
A. Separate Account Activity
(1) General nature of Separate Account BusinessThrivent 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 AnnuitiesIn accordance with the domiciliary state procedures for approving items within the separate account, separate account classification of the following itemsare supported by specified state statue:- All products - Wisconsin Statute 632
(2) In accordance with the products/transactions recorded within the separate account, some assets are considered legally insulated whereas others are notlegally insulated from the general account. (The legal insulation of the separate account assets prevents such assets from being generally available tosatisfy claims resulting from the general account.)
The assets legally insulated from the general account as of December 31, 2017 are attributed to the following products/transactions:
Product/Transaction Legally Insulated AssetsSeparate Account Assets
(Not Legally Insulated)Thrivent Variable Annuity Account II $ 51,531,151 $Thrivent Variable Annuity Account A $ 1,433,653,961 $Thrivent Variable Annuity Account B $ 2,119,182,949 $Thrivent Variable Annuity Account I $ 25,408,199,872 $Thrivent Variable Life Account I $ 824,583,911 $Thrivent Variable Insurance Account A $ 270,813,136 $Market Value Adjustment $ $ 383,583,898Total $ 30,107,964,980 $ 383,583,898
(3) In accordance with the products/transaction recorded within the separate account, some separate account liabilities are guaranteed by the generalaccount. (In accordance with the guarantees provided, if the investment proceeds are insufficient to cover the rate of return guaranteed for the product,the policyholder proceeds will be remitted by the general account.)
To compensate the general account for the risk taken, the separate account has paid risk charges as follows for the past five (5) years:a. 2017 $ 107,271,674b. 2016 $ 99,202,380c. 2015 $ 98,650,623d. 2014 $ 86,181,346e. 2013 $ 58,488,861
As of end of December 31, 2017, the general account of Thrivent Financial had paid $3,574,407 toward separate account guarantees. The total separateaccount guarantees paid by the general account for the preceding four years ending December 31, 2016, 2015, 2014, and 2013 was $5,334,866,$4,221,873, $2,885,497, and $2,895,291, respectively.
(4) Securities Lending Within the Separate AccountThrivent Financial does not engage in securities lending transactions within the separate account.
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 netinvestment experience of the separate account is credited directly to the contract holder and can be positive or negative. Variable annuities generally provide anincidental 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 ofthe sixth year and every six years thereafter, the minimum guaranteed death benefit is adjusted to the current account value. Another block of variable annuitiesprovides the greater of the current account value, premium paid, and the highest past anniversary account value (maximum anniversary). In 2002, ThriventFinancial began offering a variable annuity with the following minimum guaranteed death benefits options: maximum anniversary, premium accumulation, andearnings addition, along with the basic death benefit which is the greater of the account value or premium paid.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
18.25
NOTES TO FINANCIAL STATEMENTSVariable life contracts generally provide an incidental death benefit as long as required premiums have been paid. The assets and liabilities of these accounts arecarried at market value. The minimum guaranteed death benefit reserves for life insurance and annuities are held in Exhibit 5 of the General Account. Thisbusiness 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 subjectto withdrawal with a market value adjustment. The assets and liabilities of these accounts are carried at market value. This business has been included in thetable 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, 2017, Thrivent Financial has $11 million in seed money (M.V.) invested in separate account business.
Separate Accounts with Guarantees
Index
NonindexedGuarantee Lessthan/equal to 4%
NonindexedGuarantee More
than 4%
NonguaranteedSeparateAccounts Total
(1) Premiums, considerations or deposits for end of year - 1,208,340 - 1,805,574,576 1,806,782,916Reserves at end of year
(2) For accounts with assets at:a. Fair value - 337,994,923 - 29,526,727,525 29,864,722,448b. Amortized cost - -c. Total reserves* - 337,994,923 - 29,526,727,525 29,864,722,448
(3) By withdrawal characteristicsa. Subject to discretionary withdrawal
1. With market value adjustment - 337,994,923 - - 337,994,9232. At book value without market value
adjustment and with current surrendercharge of 5% or more - - - - -
3. At fair value - - - 29,467,636,099 29,467,636,0994. At book value without market value
adjustment and with current surrendercharge less than 5% - - - - -
5. Subtotal - 337,994,923 - 29,467,636,099 29,805,631,022b. Not subject to discretionary withdrawal - - - 59,091,426 59,091,426c. Total - 337,994,923 - 29,526,727,525 29,864,722,448
(4) Reserves for asset default risk in lieu or AVR - - - -* Line 2(c) should equal Line 3(h)
C. Reconciliation of Net Transfers to or (from) Separate Accounts
(1) Transfers as reported in the Summary of Operations of the Separate Accounts Statement:a. Transfers to Separate Accounts (Page 4, Line 1.4) $1,805,876,962b. Transfer from Separate Accounts (Page 4, Line 10) 1,321,365,657c. Net transfers to or (from) Separate Accounts (a) - (b) $ 484,511,305
(2) Reconciling adjustments:Adjustment AmountTransfers on account of deposit type contracts $ (3,594,406)Other $ 2,259,352
(3) Transfers as reported in the Summary of Operations of the Life, Accident & Health Annual Statement(1c) + (2) = (Page 4, Line 26)$483,176,251
Note 35 – Loss/Claim Adjustment Expenses
The balance in the liability for unpaid accident and health claim adjustment expenses as of December 31, 2017 and 2016 was $0.6 million and $0.5 million, respectively.
Thrivent Financial incurred $3.8 million and paid $3.7 million of claim adjustment expenses in 2017, of which $2.8 million of the paid amount was attributable to insured orcovered 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.
Valuation Standards Used in Calculating Additional Reserves - Exhibit 6 Footnote
Valuation standards used in calculating additional reserves for active life reserves for accident and health certificates (Exhibit 6, Active Life Reserve):
- Valuation interest rates: Range from 2.5% to 5.5%, never greater than the valuation interest rate defined in the Standard Valuation Law- Valuation bases: modified pricing assumptions and requirements defined in Wisconsin Administrative Code Ins 3.17 and the Health Insurance Reserves ModelRegulation, 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 2017 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 Managment 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 2017 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 212.13 Total book/adjusted carrying value $ 11,247,038
12.2 If yes, provide explanationThe Limitied Liability Company (LLC) was created to hold title for foreclosed properties. Thrivent Financial 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 [ ] No [ X ]14.21 If the response to 14.2 is yes, provide information related to amendment(s).
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 $ 021.22 Borrowed from others $ 021.23 Leased from others $ 021.24 Other $ 0
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:22.21 Amount paid as losses or risk adjustment $ 022.22 Amount paid as expenses $ 832,92522.23 Other amounts paid $ 0
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
19.2
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
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 the 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 securites 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. $ 364,980,30624.06 If answer to 24.04 is no, report amount of collateral for other programs $ 024.07 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: $ 364,980,30624.102 Total book adjusted/carrying value of reinvested collateral assets reported on Schedule DL, Parts 1 and 2: $ 364,980,30624.103 Total payable for securities lending reported on the liability page: $ 364,654,787
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 $ 1,067,67725.29 On deposit with other regulatory bodies $ 025.30 Pledged as collateral – excluding collateral pledged to an FHLB $ 56,117,00025.31 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: $ 984,769,52028. 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 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
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"].
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
19.3
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
1Name of Firm or Individual
2Affiliation
David Scott Royal 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 TOTAL $
29.3 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 $ 44,819,581,562 $ 45,632,033,871 $ 812,452,30930.2 Preferred Stocks $ 156,454,194 $ 286,384,119 $ 129,929,92530.3 Totals $ 44,976,035,756 $ 45,918,417,990 $ 942,382,234
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 managment 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:
33. By self-designating 5*GI securities, the reporting entity is certifying the following elements for each self-designation 5*GI security:a. Documentation necessary to permit a full credit analysis of the security does not exist.b. Issuer or obligor is current on all contracted interest and principal payments.c. The insurer has an actual expectation of ultimate payment of all contracted interest and principal.Has the reporting entity self-designated 5*GI securities? Yes [ ] No [ X ]
OTHER34.1 Amount of payments to trade associations, service organizations and statistical or rating bureaus, if any? $ 5,256,82134.2 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$
35.1 Amount of payments for legal expenses, if any? $ 9,159,89335.2 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$
36.1 Amount of payments for expenditures in connection with matters before legislative bodies, officers or departments of government, if any? $ 500,63436.2 List the name of the firm and the amount paid if any such payment represented 25% or more of the total payment expenditures in
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
19.4
GENERAL INTERROGATORIESPART 1 - COMMON INTERROGATORIES
36.2 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
Name2
Amount PaidVenn Strategies $ 446,634
Annual Statement for the year 2017 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. $ 81,977,697
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. $ 62,074,005
1.6 Individual policies:
Most current three years:1.61 Total premium earned $ 25,119,2531.62 Total incurred claims $ 21,050,1071.63 Number of covered lives $ 27,126All years prior to most current three years:1.64 Total premium earned $ 56,858,4431.65 Total incurred claims $ 41,023,8981.66 Number of covered lives $ 21,548
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 distributable fromthe Separate Accounts to the general account for use by the general account? $ 543,102,734
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 elections 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? 11/08/2017
7.3 When and where will the next regular or special meeting of the governing body be held?Feb 14 -15, 2018 Austin, TX
7.4 How many members of the governing body attended the last regular meeting? 14
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 defined 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.
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.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
20.1
GENERAL INTERROGATORIESPART 2 – FRATERNAL INTERROGATORIES
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. 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:
24.1 Amount of loss reserves established by these annuities during the current year: $
24.2 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)$
25.1 Do you act as a custodian for health savings accounts? Yes [ ] No [ X ]
25.2 If yes, please provide the amount of custodial funds held as of the reporting date. $
25.3 Do you act as an administrator for health savings accounts? Yes [ ] No [ X ]
25.4 If yes, please provide the balance of the funds administered as of the reporting date. $
26.1 Does the reporting entity have outstanding assessments in the form of liens against policy benefits that have increased surplus? Yes [ ] No [ X ]
26.2 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
$
27.1 Are any of the captive affiliates reported on Schedule S, Part 3, authorized reinsurers? Yes [ ] No [ X ] N/A [ ]
27.2 If the answer to 27.1 is yes, please provide the following:1
CompanyName
2NAIC
CompanyCode
3
DomiciliaryJurisdiction
4
ReserveCredit
Assets Supporting Reserve Credit5
Letters ofCredit
6Trust
Agreements
7
Other$ $ $
28. Provide the following for individual ordinary life insurance* policies (U.S. business only) for the current year (prior to reinsurance assumed or ceded).
28.1 Direct Premiums Written $ 1,758,837,53728.2 Total Incurred Claims $ 1,117,646,36528.3 Number of Covered Lives 2,031,656
*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 2017 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.
$000 omitted for amounts of life insurance1 2 3 4 5
2017 2016 2015 2014 2013
Life Insurance in Force (Exhibit of Life Insurance)
1. Total (Line 21, Column 2)......................................................................................................... ........198,936,964 ........193,018,864 ........187,363,199 ........182,526,799 ........178,305,675
1.1 Total in force for which VM-20 deterministic/stochastic reserves are calculated..................... ............................. .........XXX............. .........XXX............. .........XXX............. .........XXX.............
New Business Issued (Exhibit of Life Insurance)
2. Total (Line 2, Column 2)........................................................................................................... ..........12,924,584 ..........11,929,096 ..........11,020,193 ............9,881,237 ............9,548,756
Premium Income (Exhibit 1, Part 1)
3. Life insurance - first year (Line 9.4, Column 2)........................................................................ ........108,082,739 ..........85,742,441 ..........84,502,513 ..........73,937,359 ..........67,386,223
4. Life insurance - single and renewal (Lines 10.4 and 19.4, Column 2)..................................... .....1,525,847,500 .....1,473,622,457 .....1,335,686,908 .....1,321,342,292 .....1,415,594,504
5. Annuity (Line 20.4, Column 3).................................................................................................. .....3,054,271,946 .....3,571,694,227 .....3,763,186,296 .....3,716,132,860 .....3,398,055,570
6. Accident and health (Line 20.4, Column 4).............................................................................. ........332,425,846 ........319,546,803 ........316,300,722 ........314,219,275 ........311,321,574
7. Aggregate of all other lines of business (Line 20.4, Column 5)................................................ ............................. ............................. ............................. ............................. .............................
8. Total (Line 20.4, Column 1)...................................................................................................... .....5,020,628,031 .....5,450,605,928 .....5,499,676,439 .....5,425,631,787 .....5,192,357,871
Balance Sheet Items (Pages 2 and 3)
9. Total admitted assets excluding Separate Accounts business (Page 2, Line 26, Col. 3)........ ...60,477,269,714 ...58,115,831,025 ...56,050,965,218 ...53,915,291,535 ...51,747,288,231
10. Total liabilities excluding Separate Accounts business (Page 3, Line 23)............................... ...52,251,702,893 ...50,436,756,955 ...48,976,766,947 ...47,495,903,995 ...46,028,230,306
11. Aggregate reserve for life certificates and contracts (Page 3, Line 1)...................................... ...39,175,168,273 ...38,371,564,928 ...37,009,706,363 ...35,986,329,508 ...35,197,041,571
11.1 Excess VM-20 deterministic/stochastic reserve over NPR, related to Line 1.1........................ ............................. .........XXX............. .........XXX............. .........XXX............. .........XXX.............
12. Aggregate reserve for accident and health certificates (Page 3, Line 2).................................. .....6,204,360,550 .....5,654,855,652 .....5,304,728,083 .....5,073,113,337 .....4,697,071,536
13. Deposit-type contract funds (Page 3, Line 3)........................................................................... .....3,420,626,783 .....3,272,027,273 .....3,104,279,865 .....2,930,598,097 .....2,887,300,080
14. Asset valuation reserve (Page 3, Line 21.1)............................................................................ .....1,217,295,599 .....1,099,299,998 ........999,557,755 ........972,241,995 ........940,399,143
15. Surplus (Page 3, Line 30)......................................................................................................... .....8,269,327,092 .....7,725,613,924 .....7,126,496,319 .....6,492,586,166 .....5,797,909,666
Cash Flow (Page 5)
16. Net cash from operations (Line 11).......................................................................................... .....1,515,732,201 .....1,923,672,544 .....1,702,699,234 .....1,538,598,021 .....1,228,926,584
Risk-Based Capital Analysis
17. Total adjusted capital............................................................................................................... .....9,666,283,406 .....9,002,480,641 .....8,299,785,097 .....7,598,831,710 .....6,870,689,901
18. 50% of the calculated RBC amount......................................................................................... ........667,884,899 ........603,771,082 ........549,221,464 ........531,125,878 ........504,971,691
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).......................................................................................................................... .....................72.3 .....................72.9 .....................73.1 .....................73.2 .....................73.2
20. Stocks (Lines 2.1 and 2.2)........................................................................................................ .......................3.6 .......................3.0 .......................2.6 .......................2.5 .......................2.3
21. Mortgage loans on real estate (Lines 3.1 and 3.2)................................................................... .....................13.7 .....................13.5 .....................13.6 .....................13.8 .....................14.3
22. Real estate (Lines 4.1, 4.2 and 4.3)......................................................................................... .......................0.1 .......................0.1 .......................0.1 .......................0.1 .......................0.1
23. Cash, cash equivalents and short-term investments (Line 5).................................................. .......................2.6 .......................3.0 .......................3.3 .......................2.8 .......................2.8
24. Contract loans (Line 6)............................................................................................................. .......................1.9 .......................2.0 .......................2.1 .......................2.2 .......................2.4
25. Derivatives (Line 7).................................................................................................................. .......................0.1 .......................0.1 .......................0.0 .......................0.0 ......................(0.0)
26. Other invested assets (Line 8)................................................................................................. .......................5.6 .......................5.3 .......................5.1 .......................5.2 .......................5.0
27. Receivable for securities (Line 9)............................................................................................. .......................0.1 .......................0.1 .......................0.1 .......................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)............................................ ........318,533,110 ........261,141,670 ........349,500,233 ........347,104,961 ........366,408,290
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...................................................................................................................... .....2,878,800,382 .....2,585,976,066 .....2,336,795,066 .....2,286,582,914 .....2,029,644,270
37. Total of above Lines 31 to 36................................................................................................... .....3,197,333,492 .....2,847,117,736 .....2,686,295,299 .....2,633,687,875 .....2,396,052,560
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)................................................................. ........114,834,423 ........104,261,438 ..........98,158,335 ..........98,256,833 ..........92,914,627
40. Total admitted assets (Page 2, Line 28, Col. 3)....................................................................... ...90,968,818,589 ...84,833,536,268 ...80,112,484,699 ...76,994,356,207 ...72,161,546,776
Investment Data
41. Net investment income (Exhibit of Net Investment Income, Line 17)....................................... .....2,709,399,598 .....2,768,468,228 .....2,805,287,480 .....2,685,829,823 .....2,575,223,054
42. Realized capital gains (losses) (Page 4, Line 30, Column 1)................................................... ..........73,647,048 .......(115,438,953) .........(42,291,791) .........(48,994,291) .........(78,538,093)
43. Unrealized capital gains (losses) (Page 4, Line 34, Column 1)................................................ ..........84,988,039 ..........75,613,231 .......(161,918,683) ........115,156,794 ..........76,324,941
44. Total of above Lines 41, 42 and 43.......................................................................................... .....2,868,034,685 .....2,728,642,506 .....2,601,077,006 .....2,751,992,326 .....2,573,009,902
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
22
FIVE-YEAR HISTORICAL DATA(Continued)
1 2 3 4 52017 2016 2015 2014 2013
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)........................................................................................... .....4,167,552,715 .....3,681,269,219 .....3,459,137,600 .....3,304,601,103 .....3,084,301,460
46. Total certificate benefits - accident and health (Line 13, Column 5)........................................ ........352,971,537 ........328,199,317 ........325,701,265 ........304,402,564 ........281,960,369
47. Increase in life reserves (Line 17, Column 2)........................................................................... ........579,853,798 ........571,206,445 ........499,462,097 ........456,458,843 ........621,631,527
48. Increase in accident and health reserves (Line 17, Column 5)................................................ ........549,504,897 ........350,127,570 ........231,614,746 ........376,041,800 ........281,105,442
49. Refunds to members (Line 28, Column 1)............................................................................... ........319,055,241 ........315,385,410 ........315,956,279 ........238,811,328 ........232,209,636
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....................................................................................... .....................20.7 .....................18.4 .....................17.8 .....................17.0 .....................17.1
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...................................... .......................3.1 .......................3.0 .......................3.0 .......................3.5 .......................3.6
52. Accident and health loss percent(Schedule H, Part 1, Lines 5 and 6, Column 2)........................................................................ ...................273.5 ...................213.9 ...................177.3 ...................216.8 ...................181.3
53. A&H cost containment percent (Schedule H, Part 1, Line 4, Column 2).................................. .......................1.1 .......................1.0 .......................0.9 .......................0.8 .......................0.7
54. Accident and health expense percent excluding cost containment expenses(Schedule H, Part 1, Line 10, Column 2).................................................................................. .....................19.4 .....................18.4 .....................16.3 .....................12.7 .....................13.9
Accident and Health Reserve Adequacy
55. Incurred losses on prior years' claims(Schedule H, Part 3, Line 3.1, Column 1)................................................................................. ........987,209,887 ........953,809,734 ........922,917,804 ........881,480,509 ........772,198,815
56. Prior years' liability and reserve(Schedule H, Part 3, Line 3.2, Column 1)................................................................................. .....1,022,042,678 .....1,006,609,552 ........935,430,121 ........820,815,280 ........759,109,806
Net Gains from Operations After Refunds to Members by Lines of Business(Page 6, Line 29)
57. Life Insurance (Column 2)........................................................................................................ ..........79,424,526 ........110,977,506 ........112,987,770 ........212,789,005 ........191,175,671
58. Annuity (Column 3)................................................................................................................... ........257,966,155 ........262,313,461 ........243,558,329 ........297,696,909 ........253,724,628
59. Supplementary contracts (Column 4)....................................................................................... ............3,032,210 ..........15,467,447 ...........(5,142,635) .........(13,921,281) ............3,246,005
60. Accident and health (Column 5)............................................................................................... .......(211,817,272) .........(79,743,682) ...........(5,910,490) .........(86,515,842) .........(23,089,468)
61. Aggregate of all other lines of business (Column 6)................................................................. ........314,383,914 ........535,391,943 ........467,099,272 ........404,137,027 ........353,161,891
62. Fraternal (Column 8)................................................................................................................ ............................. ............................. ............................. ............................. .............................
63. Expense (Column 9)................................................................................................................. ............................. ............................. ............................. ............................. .............................
64. Total (Column 1)....................................................................................................................... ........442,989,533 ........671,246,766 ........812,592,246 ........814,185,818 ........778,218,727NOTE: 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 [ X ]If no, please explain:
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
23.GT
*56014201743059100*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............................................................................................................................................................................................... .................................................................1,476,327,7562. Annuity considerations................................................................................................................................................................................. .................................................................3,054,232,7303. Deposit-type contract funds......................................................................................................................................................................... ......................................................................13,075,7664. Other considerations.................................................................................................................................................................................... .........................................................................................5. Total (Lines 1 to 4)....................................................................................................................................................................................... .................................................................4,543,636,253
DIRECT REFUNDS TO MEMBERSLife Insurance:
6.1 Paid in cash or left on deposit...................................................................................................................................................................... ......................................................................19,837,2716.2 Applied to pay renewal premiums................................................................................................................................................................ ......................................................................43,568,9826.3 Applied to provide paid-up additions or shorten the endowment or premium-paying period....................................................................... ....................................................................196,758,1756.4 Other............................................................................................................................................................................................................ .........................................................................................6.5 Total (Sum of Lines 6.1 to 6.4)..................................................................................................................................................................... ....................................................................260,164,429
Annuities:7.1 Paid in cash or left on deposit...................................................................................................................................................................... ........................................................................2,082,4147.2 Applied to provide paid-up annuities........................................................................................................................................................... ...............................................................................8,6397.3 Other............................................................................................................................................................................................................ .............................................................................30,8087.4 Total (Sum of Lines 7.1 to 7.3)..................................................................................................................................................................... ........................................................................2,121,8608. Total (Line 6.5 plus Line 7.4)....................................................................................................................................................................... ....................................................................262,286,289
DIRECT CLAIMS AND BENEFITS PAID9. Death benefits.............................................................................................................................................................................................. .................................................................1,068,196,581
10. Matured endowments.................................................................................................................................................................................. ........................................................................4,689,50011. Annuity benefits........................................................................................................................................................................................... ....................................................................705,611,86412. Surrender values and withdrawals for life contracts.................................................................................................................................... .................................................................2,316,438,93913. Aggregate write-ins for miscellaneous direct claims and benefits paid........................................................................................................ ......................................................................................014. All other benefits, except accident & health................................................................................................................................................. ......................................................................20,579,38315. Total............................................................................................................................................................................................................. .................................................................4,115,516,268
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.......................................................................................................................................... .............................................2,966 ..................................118,222,19817. Incurred during current year................................................................................................................................................. ...........................................21,795 ...............................1,082,903,026
Settled during current year:18.1 By payment in full................................................................................................................................................................. ...........................................22,036 ...............................1,059,001,32518.2 By payment on compromised claims.................................................................................................................................... ....................................................... .......................................................18.3 Total paid.............................................................................................................................................................................. ...........................................22,036 ...............................1,059,001,32518.4 Reduction by compromise.................................................................................................................................................... ....................................................... .......................................................18.5 Amount rejected................................................................................................................................................................... ..................................................14 .........................................451,61818.6 Total settlements.................................................................................................................................................................. ...........................................22,050 ...............................1,059,452,94319. Unpaid Dec. 31, current year (Lines 16 + 17 - 18.6)............................................................................................................ .............................................2,711 ..................................141,672,281
POLICY EXHIBIT20. In force December 31, prior year.......................................................................................................................................... ......................................2,057,984 ...........................193,018,864,29621. Issued during year................................................................................................................................................................ ...........................................51,406 .............................12,867,754,69022. Other changes to in force (net)............................................................................................................................................. ..........................................(77,732) ..............................(6,945,392,651)23. In force December 31, current year...................................................................................................................................... ......................................2,031,658 ...........................198,941,226,335
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................................................................................ ..................19,822,851 ..................19,853,120 ....................4,108,309 ..................12,219,288 ....................8,231,70525.2 Guaranteed renewable..................................................................... ................312,079,238 ................310,253,516 ....................3,040,944 ................334,813,026 ................405,709,98625.3 Non-renewable for stated reasons only............................................ .......................746,329 .......................751,042 .........................27,012 ....................2,000,218 ....................1,764,09225.4 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).................................................... ................332,648,418 ................330,857,679 ....................7,176,265 ................349,032,531 ................415,705,78326. Totals (Line 24 + 25.7)..................................................................... ................332,648,418 ................330,857,679 ....................7,176,265 ................349,032,531 ................415,705,783
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
24
EXHIBIT OF LIFE INSURANCE($000 Omitted for Amounts of Life Insurance)
1 2Number ofCertificates Amount of Insurance
1. In force end of prior year.................................................................................................................................................... ......................................2,057,983 ..................................193,018,8642. Issued during year............................................................................................................................................................. ...........................................52,826 ....................................12,924,5843. Reinsurance assumed....................................................................................................................................................... ....................................................... .......................................................4. Revived during year........................................................................................................................................................... .............................................2,237 .........................................389,0825. Increased during year (net)................................................................................................................................................ ....................................................... ......................................1,385,0386. Subtotals, Lines 2 to 5....................................................................................................................................................... ...........................................55,063 ....................................14,698,7047. Additions by refunds during year....................................................................................................................................... ......................XXX.......................... .......................................................8. Aggregate write-ins for increases...................................................................................................................................... ....................................................0 ....................................................09. Totals (Line 1 plus Line 6 to Line 8)................................................................................................................................... ......................................2,113,046 ..................................207,717,568
Deductions During Year:10. Death................................................................................................................................................................................. ...........................................22,389 ......................................1,098,19311. Maturity.............................................................................................................................................................................. ................................................631 ...........................................10,55212. Disability............................................................................................................................................................................. ....................................................... .......................................................13. Expiry................................................................................................................................................................................. ................................................631 .........................................214,41214. Surrender........................................................................................................................................................................... ...........................................32,179 ......................................2,889,44815. Lapse................................................................................................................................................................................. ...........................................20,126 ......................................3,279,74216. Conversion......................................................................................................................................................................... .............................................5,434 ......................................1,288,25717. Decreased (net)................................................................................................................................................................. ....................................................... .......................................................18. Reinsurance....................................................................................................................................................................... ....................................................... .......................................................19. Aggregate write-ins for decreases..................................................................................................................................... ....................................................0 ....................................................020. Totals (Lines 10 to 19)....................................................................................................................................................... ...........................................81,390 ......................................8,780,60321. In force end of year (a) (Line 9 minus Line 20).................................................................................................................. ......................................2,031,656 ..................................198,936,96422. Reinsurance ceded end of year......................................................................................................................................... ......................XXX.......................... ....................................65,010,27323. Line 21 minus Line 22........................................................................................................................................................ ......................XXX.......................... ..................................133,926,691
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) Paid-up insurance included in the final totals of Line 21 (including additions to certificates) number of certificates.....220,597 , amount, $.....15,866,987.Additional accidental death benefits included in life certificates were in amount $.....12,326,810. 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.................................................. .......................................39,593 .......................................78,804 .....................................595,744 .....................................215,8792. Issued during year............................................................ ............................................981 .......................................13,862 .......................................21,832 .......................................23,9733. Reinsurance assumed...................................................... ................................................... ................................................... ................................................... ...................................................4. Increased during year (net).............................................. ................................................... ................................................... ................................................... ...................................................5. Totals (Lines 1 to 4).......................................................... .......................................40,574 .......................................92,666 .....................................617,576 .....................................239,852
Deduction during year:6. Decreased during year (net)............................................. .........................................2,646 .........................................9,734 .......................................23,752 .......................................11,8257. Reinsurance ceded.......................................................... ................................................... ................................................... ................................................... ...................................................8. Totals (Lines 6 and 7)....................................................... .........................................2,646 .........................................9,734 .......................................23,752 .......................................11,8259. In force end of year (Line 5 minus Line 8)........................ .......................................37,928 .......................................82,932 .....................................593,824 .....................................228,027
10. Amount on deposit........................................................... ................................................... ...........................2,452,455,809 ................................................... .....................XXX.......................Income now payable:
11. Amount of income payable............................................... ..............................188,321,794 ..............................121,637,875 .....................................593,824 .....................XXX.......................Deferred fully paid:
12. Account balance............................................................... .....................XXX....................... .....................XXX....................... ...........................4,534,365,590 .....................XXX.......................Deferred not fully paid:
13. Account balance............................................................... .....................XXX....................... .....................XXX....................... .........................38,231,715,708 .....................XXX.......................
Annual Statement for the year 2017 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................................................................................................................................................................................... ....................................416,344,286
2. Current year's realized pre-tax capital gains/(losses) of $.....204,323,032 transferred into the reserve net of taxes of $..........0............................................ ....................................204,323,032
3. Adjustment for current year's liability gains/(losses) released from the reserve....................................................................................................................... ......................................................0
4. Balance before reduction for amount transferred to Summary of Operations (Line 1 + Line 2 + Line 3)................................................................................. ....................................620,667,318
5. Current year's amortization released to Summary of Operations (Amortization, Line 1, Column 4)........................................................................................ ....................................129,924,398
6. Reserve as of December 31, current year (Line 4 minus Line 5)............................................................................................................................................. ....................................490,742,920
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. 2017................................... ..........................................79,113,585 ..........................................50,810,813 ............................................................. ........................................129,924,398
2. 2018................................... ..........................................56,664,738 ..........................................41,533,054 ............................................................. ..........................................98,197,792
3. 2019................................... ..........................................43,748,071 ..........................................16,889,871 ............................................................. ..........................................60,637,941
4. 2020................................... ..........................................31,336,480 ..........................................13,393,163 ............................................................. ..........................................44,729,643
5. 2021................................... ..........................................22,775,489 ............................................9,823,742 ............................................................. ..........................................32,599,230
6. 2022................................... ..........................................17,689,364 ............................................6,031,367 ............................................................. ..........................................23,720,731
7. 2023................................... ..........................................15,438,998 ............................................4,103,878 ............................................................. ..........................................19,542,877
8. 2024................................... ..........................................13,641,615 ............................................4,090,869 ............................................................. ..........................................17,732,484
9. 2025................................... ..........................................11,910,671 ............................................4,080,759 ............................................................. ..........................................15,991,430
10. 2026................................... ..........................................10,431,217 ............................................4,037,053 ............................................................. ..........................................14,468,270
11. 2027................................... ............................................9,228,814 ............................................4,034,942 ............................................................. ..........................................13,263,756
12. 2028................................... ............................................8,746,905 ............................................3,966,989 ............................................................. ..........................................12,713,895
13. 2029................................... ............................................8,822,023 ............................................3,835,396 ............................................................. ..........................................12,657,419
14. 2030................................... ............................................8,887,163 ............................................3,725,844 ............................................................. ..........................................12,613,007
15. 2031................................... ............................................9,043,669 ............................................3,536,247 ............................................................. ..........................................12,579,917
16. 2032................................... ............................................9,116,614 ............................................3,467,961 ............................................................. ..........................................12,584,576
17. 2033................................... ............................................8,853,428 ............................................3,315,278 ............................................................. ..........................................12,168,706
18. 2034................................... ............................................8,430,260 ............................................3,242,569 ............................................................. ..........................................11,672,829
19. 2035................................... ............................................8,097,180 ............................................3,210,153 ............................................................. ..........................................11,307,333
20. 2036................................... ............................................7,472,018 ............................................3,124,142 ............................................................. ..........................................10,596,160
21. 2037................................... ............................................6,626,879 ............................................3,038,618 ............................................................. ............................................9,665,498
22. 2038................................... ............................................5,707,244 ............................................2,756,860 ............................................................. ............................................8,464,104
23. 2039................................... ............................................4,623,540 ............................................2,373,727 ............................................................. ............................................6,997,267
24. 2040................................... ............................................3,541,223 ............................................1,855,928 ............................................................. ............................................5,397,152
25. 2041................................... ............................................2,620,152 ............................................1,403,566 ............................................................. ............................................4,023,718
26. 2042................................... ............................................1,798,572 ...............................................926,546 ............................................................. ............................................2,725,118
27. 2043................................... ............................................1,139,247 ...............................................604,107 ............................................................. ............................................1,743,354
28. 2044................................... ...............................................591,492 ...............................................480,820 ............................................................. ............................................1,072,312
29. 2045................................... ...............................................217,736 ...............................................345,204 ............................................................. ...............................................562,940
30. 2046................................... .................................................29,901 ...............................................209,588 ............................................................. ...............................................239,489
31. 2047 and Later................... ............................................................. .................................................73,972 ............................................................. .................................................73,972
32. Total (Lines 1 to 31)........... ........................................416,344,287 ........................................204,323,032 ..........................................................0 ........................................620,667,319
Annual Statement for the year 2017 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................................................................................................................. ........................354,795,847 ..........................71,965,501 ........................426,761,348 ........................200,604,726 ........................471,933,924 ........................672,538,650 .....................1,099,299,998
2. Realized capital gains/(losses) net of taxes - General Account............................................................................. ..........................12,491,162 ............................................. ..........................12,491,162 ........................106,728,483 ..........................21,351,582 ........................128,080,065 ........................140,571,227
3. Realized capital gains/(losses) net of taxes - Separate Accounts.......................................................................... ............................................. ............................................. ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
4. Unrealized capital gains/(losses) - net of deferred taxes - General Account.......................................................... ..........................25,622,017 ............................................. ..........................25,622,017 ........................341,969,071 ........................143,080,101 ........................485,049,172 ........................510,671,189
5. Unrealized capital gains/(losses) - net of deferred taxes - Separate Accounts....................................................... ..........................43,760,270 ............................................. ..........................43,760,270 ............................................. ............................................. ..........................................0 ..........................43,760,270
6. Capital gains credited/(losses charged) to contract benefits, payments or reserves............................................... ............................................. ............................................. ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
7. Basic contribution................................................................................................................................................. ..........................82,434,087 ..........................15,715,389 ..........................98,149,476 ............................................. .................................14,298 .................................14,298 ..........................98,163,774
8. Accumulated balances (Lines 1 through 5, minus 6 plus 7)................................................................................... ........................519,103,383 ..........................87,680,890 ........................606,784,273 ........................649,302,280 ........................636,379,905 .....................1,285,682,186 .....................1,892,466,458
9. Maximum reserve................................................................................................................................................. ........................366,154,090 ..........................74,016,883 ........................440,170,973 ........................260,849,141 ........................515,727,300 ........................776,576,441 .....................1,216,747,414
10. Reserve objective................................................................................................................................................. ........................252,229,650 ..........................57,030,097 ........................309,259,747 ........................260,849,141 ........................515,702,278 ........................776,551,419 .....................1,085,811,166
11. 20% of (Line 10 minus Line 8).............................................................................................................................. .........................(53,374,747) ...........................(6,130,159) .........................(59,504,905) .........................(77,690,628) .........................(24,135,526) .......................(101,826,153) .......................(161,331,058)
12. Balance before transfers (Lines 8 + 11)................................................................................................................ ........................465,728,636 ..........................81,550,731 ........................547,279,368 ........................571,611,652 ........................612,244,380 .....................1,183,856,032 .....................1,731,135,400
13. Transfers.............................................................................................................................................................. .........................(99,574,548) ..........................99,574,548 ..........................................0 ............................................. ............................................. ..........................................0 ..........................................0
14. Voluntary contribution........................................................................................................................................... ............................................. ............................................. ..........................................0 ............................................. ...............................548,185 ...............................548,185 ...............................548,185
15. Adjustment down to maximum/up to zero............................................................................................................. ............................................. .......................(107,108,395) .......................(107,108,395) .......................(310,762,510) .........................(96,517,080) .......................(407,279,590) .......................(514,387,985)
16. Reserve as of December 31, current year (Lines 12 + 13 + 14 + 15)..................................................................... ........................366,154,088 ..........................74,016,884 ........................440,170,973 ........................260,849,142 ........................516,275,485 ........................777,124,627 .....................1,217,295,600
Annual Statement for the year 2017 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............................................................................................. ............2,334,040,070 ............XXX................. ............XXX................. ............2,334,040,070 ................0.0000 .................................0 ................0.0000 .................................0 ................0.0000 .................................02 1 Highest quality.................................................................................................... ..........23,694,571,806 ............XXX................. ............XXX................. ..........23,694,571,806 ................0.0004 ...................9,477,829 ................0.0023 .................54,497,515 ................0.0030 .................71,083,7153 2 High quality......................................................................................................... ..........14,236,293,855 ............XXX................. ............XXX................. ..........14,236,293,855 ................0.0019 .................27,048,958 ................0.0058 .................82,570,504 ................0.0090 ...............128,126,6454 3 Medium quality................................................................................................... ............2,254,325,884 ............XXX................. ............XXX................. ............2,254,325,884 ................0.0093 .................20,965,231 ................0.0230 .................51,849,495 ................0.0340 .................76,647,0805 4 Low quality.......................................................................................................... ...............998,144,573 ............XXX................. ............XXX................. ...............998,144,573 ................0.0213 .................21,260,479 ................0.0530 .................52,901,662 ................0.0750 .................74,860,8436 5 Lower quality...................................................................................................... .................65,062,491 ............XXX................. ............XXX................. .................65,062,491 ................0.0432 ...................2,810,700 ................0.1100 ...................7,156,874 ................0.1700 .................11,060,6237 6 In or near default................................................................................................. ...................4,112,132 ............XXX................. ............XXX................. ...................4,112,132 ................0.0000 .................................0 ................0.2000 ......................822,426 ................0.2000 ......................822,4268 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)............................................... ..........43,586,550,812 ............XXX................. ............XXX................. ..........43,586,550,812 ...........XXX.......... .................81,563,197 ...........XXX.......... ...............249,798,478 ...........XXX.......... ...............362,601,333
PREFERRED STOCKS10 1 Highest quality.................................................................................................... .................39,000,000 ............XXX................. ............XXX................. .................39,000,000 ................0.0004 ........................15,600 ................0.0023 ........................89,700 ................0.0030 ......................117,00011 2 High quality......................................................................................................... .................47,446,700 ............XXX................. ............XXX................. .................47,446,700 ................0.0019 ........................90,149 ................0.0058 ......................275,191 ................0.0090 ......................427,02012 3 Medium quality................................................................................................... .................70,006,650 ............XXX................. ............XXX................. .................70,006,650 ................0.0093 ......................651,062 ................0.0230 ...................1,610,153 ................0.0340 ...................2,380,22613 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)............................................ ...............156,454,194 ............XXX................. ............XXX................. ...............156,454,194 ...........XXX.......... ......................756,811 ...........XXX.......... ...................1,975,213 ...........XXX.......... ...................2,924,415
SHORT-TERM BONDS18 Exempt obligations............................................................................................. .................................... ............XXX................. ............XXX................. .................................0 ................0.0000 .................................0 ................0.0000 .................................0 ................0.0000 .................................019 1 Highest quality.................................................................................................... ...............124,282,652 ............XXX................. ............XXX................. ...............124,282,652 ................0.0004 ........................49,713 ................0.0023 ......................285,850 ................0.0030 ......................372,84820 2 High quality......................................................................................................... ...................9,658,445 ............XXX................. ............XXX................. ...................9,658,445 ................0.0019 ........................18,351 ................0.0058 ........................56,019 ................0.0090 ........................86,92621 3 Medium quality................................................................................................... ...................4,938,344 ............XXX................. ............XXX................. ...................4,938,344 ................0.0093 ........................45,927 ................0.0230 ......................113,582 ................0.0340 ......................167,90422 4 Low quality.......................................................................................................... .................................... ............XXX................. ............XXX................. .................................0 ................0.0213 .................................0 ................0.0530 .................................0 ................0.0750 .................................023 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).......................................... ...............138,879,440 ............XXX................. ............XXX................. ...............138,879,440 ...........XXX.......... ......................113,991 ...........XXX.......... ......................455,451 ...........XXX.......... ......................627,678
DERIVATIVE INSTRUMENTS26 Exchange traded................................................................................................. ..........................7,105 ............XXX................. ............XXX................. ..........................7,105 ................0.0004 .................................3 ................0.0023 ...............................16 ................0.0030 ...............................2127 1 Highest quality.................................................................................................... ......................214,173 ............XXX................. ............XXX................. ......................214,173 ................0.0004 ...............................86 ................0.0023 .............................493 ................0.0030 .............................64328 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................................................................................ ......................221,278 ............XXX................. ............XXX................. ......................221,278 ...........XXX.......... ...............................89 ...........XXX.......... .............................509 ...........XXX.......... .............................66434 Total (Lines 9 + 17 + 25 + 33)............................................................................. ..........43,882,105,725 ............XXX................. ............XXX................. ..........43,882,105,725 ...........XXX.......... .................82,434,087 ...........XXX.......... ...............252,229,650 ...........XXX.......... ...............366,154,090
Annual Statement for the year 2017 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................................. ............5,529,026,640 .................................... ............XXX................. ............5,529,026,640 ................0.0010 ...................5,529,027 ................0.0050 .................27,645,133 ................0.0065 .................35,938,67344 Commercial mortgages-all other - CM2 - high quality...................................... ............2,390,349,266 .................................... ............XXX................. ............2,390,349,266 ................0.0035 ...................8,366,222 ................0.0100 .................23,903,493 ................0.0130 .................31,074,54045 Commercial mortgages-all other - CM3 - medium quality................................ ...............267,074,292 .................................... ............XXX................. ...............267,074,292 ................0.0060 ...................1,602,446 ................0.0175 ...................4,673,800 ................0.0225 ...................6,009,17246 Commercial mortgages-all other - CM4 - low medium quality.......................... .................11,780,979 .................................... ............XXX................. .................11,780,979 ................0.0105 ......................123,700 ................0.0300 ......................353,429 ................0.0375 ......................441,78747 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..................................................................... ...................2,237,954 .................................... ............XXX................. ...................2,237,954 ................0.0420 ........................93,994 ................0.0760 ......................170,084 ................0.1200 ......................268,554
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..................................................................... ...................1,671,511 .................................... ............XXX................. ...................1,671,511 ................0.0000 .................................0 ................0.1700 ......................284,157 ................0.1700 ......................284,15758 Total Schedule B mortgages (sum of Lines 35 through 57)................................. ............8,202,140,641 .................................0 ...........XXX.................. ............8,202,140,641 ...........XXX.......... .................15,715,389 ...........XXX.......... .................57,030,097 ...........XXX.......... .................74,016,88359 Schedule DA mortgages..................................................................................... .................................... .................................... ............XXX................. .................................0 ................0.0030 .................................0 ................0.0100 .................................0 ................0.0130 .................................060 Total mortgage loans on real estate (Lines 58 + 59)............................................ ............8,202,140,641 .................................0 ............XXX................. ............8,202,140,641 ...........XXX.......... .................15,715,389 ...........XXX.......... .................57,030,097 ...........XXX.......... .................74,016,883
Annual Statement for the year 2017 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........................................................................................................... ...........1,362,345,252 .............XXX.............. ...........XXX................ ...........1,362,345,252 ................0.0000 .............................0 (a)............0.1404 ..............191,273,273 (a)............0.1404 ..............191,273,2732 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.................................................................................................... ..............156,553,513 .............XXX.............. ...........XXX................ ..............156,553,513 ................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)............................ ..............161,979,597 .............XXX.............. ...........XXX................ ..............161,979,597 ................0.0000 .............................0 ................0.1300 ................21,057,348 ................0.1300 ................21,057,34816 Affiliated - all other.......................................................................................................... ..............303,240,752 .............XXX.............. ...........XXX................ ..............303,240,752 ................0.0000 .............................0 ................0.1600 ................48,518,520 ................0.1600 ................48,518,52017 Total common stock (sum of Lines 1 through 16)............................................................ ...........1,984,119,115 ...............................0 ...............................0 ...........1,984,119,115 ...........XXX.......... .............................0 ...........XXX.......... ..............260,849,141 ...........XXX.......... ..............260,849,141
REAL ESTATE18 Home office property (General Account only).................................................................. ................57,052,668 .................................. .................................. ................57,052,668 ................0.0000 .............................0 ................0.0750 .................4,278,950 ................0.0750 .................4,278,95019 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)................................................................ ................58,976,069 ...............................0 ...............................0 ................58,976,069 ...........XXX.......... .............................0 ...........XXX.......... .................4,490,524 ...........XXX.......... .................4,490,524
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 2017 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................................................................................................................ ................35,745,922 .............XXX.............. ...........XXX................ ................35,745,922 ................0.0004 ....................14,298 ................0.0023 ......................82,216 ................0.0030 ....................107,23831 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).......................... ................35,745,922 .............XXX.............. ...........XXX................ ................35,745,922 ...........XXX.......... ....................14,298 ...........XXX.......... ......................82,216 ...........XXX.......... ....................107,238
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 2017 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)............0.1404 ...............................0 (a)............0.1404 ...............................0
66 Unaffiliated private.......................................................................................................... ..............164,195,748 .............XXX.............. ...........XXX................ ..............164,195,748 ................0.0000 .............................0 ................0.1600 ................26,271,320 ................0.1600 ................26,271,320
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................................................................................................. ...........2,876,798,561 .............XXX.............. ...........XXX................ ...........2,876,798,561 ................0.0000 .............................0 ................0.1600 ..............460,287,770 ................0.1600 ..............460,287,770
70 Total with Common Stock Characteristics (Sum of Lines 65 through 69)........................ ...........3,040,994,309 .............XXX.............. ...........XXX................ ...........3,040,994,309 ...........XXX.......... .............................0 ...........XXX.......... ..............486,559,089 ...........XXX.......... ..............486,559,089
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..................................................................................................... ..............207,724,407 .................................. .................................. ..............207,724,407 ................0.0000 .............................0 ................0.0750 ................15,579,331 ................0.0750 ................15,579,331
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).............................. ..............207,724,407 ...............................0 ...............................0 ..............207,724,407 ...........XXX.......... .............................0 ...........XXX.......... ................15,579,331 ...........XXX.......... ................15,579,331
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.............................................................................. ................69,162,444 .............XXX.............. .................................. ................69,162,444 ................0.0000 .............................0 ................0.1300 .................8,991,118 ................0.1300 .................8,991,118
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)............................................................. ................69,162,444 .............XXX.............. ...............................0 ................69,162,444 ...........XXX.......... .............................0 ...........XXX.......... .................8,991,118 ...........XXX.......... .................8,991,118
86 Total Other Invested Assets - Schedule BA & DA(Sum of Lines 29, 37, 64, 70, 74, 80 and 85).................................................................. ...........3,353,627,082 ...............................0 ...............................0 ...........3,353,627,082 ...........XXX.......... ....................14,298 ...........XXX.......... ..............511,211,753 ...........XXX.......... ..............511,236,775
(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 2017 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
RSAT Number Type CUSIP Description of Asset(s) NAIC Designation or Other Description of Asset Value of Asset AVR Basic Contribution AVR Reserve Objective AVR Maximum Reserve
NONE
Annual Statement for the year 2017 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.................8185902 .....................588786 IL.............. .............2016 ..................25,000 ..................16,972 .............................. Material Misrepresentation..............................................................................8207311 .....................593592 WI............. .............2017 ..................59,287 ..................45,000 .............................. Material Misrepresentation..............................................................................7925769 .....................596833 NC............ .............2017 ..................85,564 ....................1,384 .............................. Material Misrepresentation..............................................................................8233322 .....................597546 KY............. .............2017 ................350,028 .......................425 .............................. Material Misrepresentation..............................................................................8246612 .....................600590 FL............. .............2017 ..................10,050 .......................856 .............................. Material Misrepresentation..............................................................................8210745 .....................596696 MN............ .............2017 ..................57,706 ....................5,000 .............................. Material Misrepresentation..............................................................................7932424 .....................594805 IL.............. .............2017 ................456,401 ..................10,328 .............................. Suicide Exclusion............................................................................................8182309 .....................603417 IL.............. .............2017 ..................10,120 ....................2,078 .............................. Material Misrepresentation..............................................................................8236627 .....................601376 MN............ .............2017 ..................30,000 ....................3,864 .............................. Material Misrepresentation..............................................................................2503231 .....................603184 ND............ .............2017 ..................25,000 ....................3,277 .............................. Material Misrepresentation..............................................................................8210282 .....................609096 WI............. .............2017 ..................10,209 ....................1,506 .............................. Material Misrepresentation..............................................................................8251911 .....................604665 MN............ .............2017 ..................10,099 .......................496 .............................. Material Misrepresentation..............................................................................8234935 .....................608272 TN............. .............2017 ................377,210 ................344,030 .............................. Material Misrepresentation..............................................................................8180368 .....................610557 PA............. .............2017 ..................60,553 ..................16,402 .............................. Material Misrepresentation.............................................................0599999. Total - Claims Disposed - Death........................................... .............1,567,227 ................451,618 ...........................0 .....................................XXX...........................................................
2699999. Total - Claims Disposed of During Current Year.................. .............1,567,227 ................451,618 ...........................0 .....................................XXX...........................................................5399999. Totals.................................................................................... .............1,567,227 ................451,618 ...........................0 .....................................XXX...........................................................
Annual Statement for the year 2017 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................................................................................. ...........332,660,563 .......XXX...... ................................. .......XXX...... .............19,656,587 .......XXX...... ...........312,254,941 .......XXX...... ..................749,035 .......XXX...... ................................. .......XXX...... ................................. .......XXX......
2. Premiums earned................................................................................ ...........330,691,079 .......XXX...... ................................. .......XXX...... .............19,686,520 .......XXX...... ...........310,253,517 .......XXX...... ..................751,042 .......XXX...... ................................. .......XXX...... ................................. .......XXX......
3. Incurred claims.................................................................................... ...........415,668,882 ..........125.7 .............................0 ..............0.0 ...............8,195,136 ............41.6 ...........405,709,654 ..........130.8 ...............1,764,092 ..........234.9 .............................0 ..............0.0 .............................0 ..............0.0
4. Cost containment expenses................................................................ ...............3,718,163 ..............1.1 ................................. ..............0.0 ....................69,962 ..............0.4 ...............3,647,844 ..............1.2 .........................357 ..............0.0 ................................. ..............0.0 ................................. ..............0.0
5. Incurred claims and cost containment expenses (Lines 3 and 4)...... ...........419,387,045 ..........126.8 .............................0 ..............0.0 ...............8,265,098 ............42.0 ...........409,357,498 ..........131.9 ...............1,764,449 ..........234.9 .............................0 ..............0.0 .............................0 ..............0.0
6. Increase in contract reserves.............................................................. ...........485,083,355 ..........146.7 .............................0 ..............0.0 ..............(3,479,804) ...........(17.7) ...........488,541,389 ..........157.5 ....................21,770 ..............2.9 .............................0 ..............0.0 .............................0 ..............0.0
7. Commissions (a).................................................................................. .............26,291,974 ..............8.0 ................................. ..............0.0 ..................897,189 ..............4.6 .............25,388,502 ..............8.2 ......................6,283 ..............0.8 ................................. ..............0.0 ................................. ..............0.0
8. Other general insurance expenses..................................................... .............35,119,742 ............10.6 ................................. ..............0.0 ...............3,421,005 ............17.4 .............31,681,288 ............10.2 ....................17,449 ..............2.3 ................................. ..............0.0 ................................. ..............0.0
9. Taxes, licenses and fees..................................................................... ...............2,709,537 ..............0.8 ................................. ..............0.0 ..................263,935 ..............1.3 ...............2,444,256 ..............0.8 ......................1,346 ..............0.2 ................................. ..............0.0 ................................. ..............0.0
10. Total other expenses incurred............................................................ .............64,121,253 ............19.4 .............................0 ..............0.0 ...............4,582,129 ............23.3 .............59,514,046 ............19.2 ....................25,078 ..............3.3 .............................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.......................... ..........(637,900,574) ........(192.9) .............................0 ..............0.0 .............10,319,098 ............52.4 ..........(647,159,417) ........(208.6) ..............(1,060,255) ........(141.2) .............................0 ..............0.0 .............................0 ..............0.0
13. Dividends or refunds........................................................................... ...............6,567,265 ..............2.0 ................................. ..............0.0 ...............3,728,356 ............18.9 ...............2,811,897 ..............0.9 ....................27,012 ..............3.6 ................................. ..............0.0 ................................. ..............0.0
14. Gain from underwriting after dividends or refunds............................. ..........(644,467,839) ........(194.9) .............................0 ..............0.0 ...............6,590,743 ............33.5 ..........(649,971,314) ........(209.5) ..............(1,087,268) ........(144.8) .............................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 2017 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.............................................................................................................. ...............................57,071,989 .................................................. .................................1,692,120 ...............................55,312,115 ......................................67,754 .................................................. ..................................................2. Advance premiums................................................................................................................ ...............................10,554,617 .................................................. ....................................387,973 ...............................10,160,328 ........................................6,317 .................................................. ..................................................3. Reserve for rate credits......................................................................................................... ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................4. Total premium reserves, current year................................................................................... ...............................67,626,606 ...............................................0 .................................2,080,092 ...............................65,472,443 ......................................74,070 ...............................................0 ...............................................05. Total premium reserves, prior year....................................................................................... ...............................65,657,121 .................................................. .................................2,110,026 ...............................63,471,018 ......................................76,078 .................................................. ..................................................6. Increase in total premium reserves....................................................................................... .................................1,969,484 ...............................................0 .....................................(29,933) .................................2,001,425 .......................................(2,007) ...............................................0 ...............................................0
B. Contract Reserves:1. Additional reserves (a)........................................................................................................... .........................5,097,853,586 .................................................. ...............................47,602,966 .........................5,044,440,452 .................................5,810,167 .................................................. ..................................................2. Reserve for future contingent benefits.................................................................................. ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................3. Total contract reserves, current year.................................................................................... .........................5,097,853,586 ...............................................0 ...............................47,602,966 .........................5,044,440,452 .................................5,810,167 ...............................................0 ...............................................04. Total contract reserves, prior year......................................................................................... .........................4,612,770,231 .................................................. ...............................51,082,771 .........................4,555,899,063 .................................5,788,397 .................................................. ..................................................5. Increase in contract reserves................................................................................................ .............................485,083,355 ...............................................0 ...............................(3,479,804) .............................488,541,389 ......................................21,770 ...............................................0 ...............................................0
C. Claim Reserves and Liabilities:1. Total current year.................................................................................................................. .........................1,088,748,661 ...............................................0 ...............................62,733,898 .........................1,023,573,962 .................................2,440,801 ...............................................0 ...............................................02. Total prior year....................................................................................................................... .........................1,022,042,678 .................................................. ...............................66,688,750 .............................952,677,002 .................................2,676,926 .................................................. ..................................................3. Increase................................................................................................................................. ...............................66,705,983 ...............................................0 ...............................(3,954,852) ...............................70,896,960 ...................................(236,125) ...............................................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.............................................................................. .............................265,305,639 .................................................. ...............................11,056,701 .............................253,852,884 ....................................396,054 .................................................. ..................................................1.2 On claims incurred during current year............................................................................... ...............................83,657,260 .................................................. .................................1,093,287 ...............................80,959,810 .................................1,604,163 .................................................. ..................................................
2. Claim Reserves and Liabilities, December 31, Current Year:2.1 On claims incurred prior to current year.............................................................................. .............................721,904,248 .................................................. ...............................51,926,593 .............................667,877,879 .................................2,099,777 .................................................. ..................................................2.2 On claims incurred during current year............................................................................... .............................366,844,413 .................................................. ...............................10,807,305 .............................355,696,084 ....................................341,024 .................................................. ..................................................
3. Test:3.1 Line 1.1 plus 2.1.................................................................................................................. .............................987,209,887 ...............................................0 ...............................62,983,294 .............................921,730,763 .................................2,495,831 ...............................................0 ...............................................03.2 Claim reserves and liabilities, December 31, prior year..................................................... .........................1,022,042,678 .................................................. ...............................66,688,750 .............................952,677,002 .................................2,676,926 .................................................. ..................................................3.3 Line 3.1 minus Line 3.2....................................................................................................... .............................(34,832,790) ...............................................0 ...............................(3,705,456) .............................(30,946,239) ...................................(181,095) ...............................................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................................................................................................................... ....................................166,600 .................................................. ....................................166,600 .................................................. .................................................. .................................................. ..................................................2. Premiums earned.................................................................................................................. ....................................166,600 .................................................. ....................................166,600 .................................................. .................................................. .................................................. ..................................................3. Incurred claims...................................................................................................................... ......................................36,901 .................................................. ......................................36,569 ...........................................332 .................................................. .................................................. ..................................................4. Commissions......................................................................................................................... ...............................................0 .................................................. .................................................. .................................................. .................................................. .................................................. ..................................................
(a) Includes $.....567,000,000 premium deficiency reserve.
Annual Statement for the year 2017 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................................................................................... ..........................4,013,848 - ...................................... ......................411,691,935 ......................415,705,783
2. Beginning claim reserves and liabilities.............................................. ..........................9,528,364 ........................................... ...................1,012,833,203 ...................1,022,361,567
3. Ending claim reserves and liabilities.................................................. ..........................8,032,631 - ...................................... ...................1,081,002,188 ...................1,089,034,819
4. Claims paid......................................................................................... ..........................5,509,581 ........................................0 ......................343,522,950 ......................349,032,531
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................................................................................... ........................................... ........................................... ...............................36,901 ...............................36,901
10. Beginning claim reserves and liabilities.............................................. ........................................... ........................................... .............................318,889 .............................318,889
11. Ending claim reserves and liabilities.................................................. ........................................... ........................................... .............................286,158 .............................286,158
12. Claims paid......................................................................................... ........................................0 ........................................0 ...............................69,632 ...............................69,632
D. Net:
13. Incurred claims................................................................................... ..........................4,013,848 ........................................0 ......................411,655,034 ......................415,668,882
14. Beginning claim reserves and liabilities.............................................. ..........................9,528,364 ........................................0 ...................1,012,514,313 ...................1,022,042,678
15. Ending claim reserves and liabilities.................................................. ..........................8,032,631 ........................................0 ...................1,080,716,029 ...................1,088,748,661
16. Claims paid......................................................................................... ..........................5,509,581 ........................................0 ......................343,453,318 ......................348,962,899
E. Net Incurred Claims and Cost Containment Expenses:
17. Incurred claims and cost containment expenses............................... ..........................4,013,848 ........................................... ......................415,373,197 ......................419,387,045
18. Beginning reserves and liabilities....................................................... ..........................9,528,364 ........................................... ...................1,012,776,443 ...................1,022,304,808
19. Ending reserves and liabilities............................................................ ..........................8,032,631 ........................................... ...................1,081,021,504 ...................1,089,054,136
20. Paid claims and cost containment expenses..................................... ..........................5,509,581 ........................................0 ......................347,128,136 ......................352,637,717
Annual Statement for the year 2017 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 2017 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................... .................................. ....................156,96365676......... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................................... IN.................... ....................435,031 ....................560,72888099......... 75-1608507.... 02/01/2015 Optimum Re Insurance Company............................................................................................ TX................... .................................. ..................................93572......... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................................... MO.................. ....................487,096 .................2,588,84564688......... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................................... DE.................. .................1,254,992 .................4,488,75082627......... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................................... CT................... ....................272,572 ....................928,02870688......... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................................. NY.................. .................1,131,659 .................3,422,081
0899999. Total - Life and Annuity Non-Affiliates - U.S. Non-Affiliates............................................................................................................................. .................3,581,350 ...............12,145,3951099999. Total - Life and Annuity Non-Affiliates.............................................................................................................................................................. .................3,581,350 ...............12,145,3951199999. Total - Life and Annuity.................................................................................................................................................................................... .................3,581,350 ...............12,145,395
Accident and Health - Non-Affiliates - U.S. Non-Affiliates67598......... 04-1768571.... 07/01/1980 Paul Revere Life Insurance Company...................................................................................... TN................... .................................. ........................3,09882627......... 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 ........................3,0982199999. Total - Accident and Health Non-Affiliates........................................................................................................................................................ ...............................0 ........................3,0982299999. Total - Accident and Health.............................................................................................................................................................................. ...............................0 ........................3,0982399999. Total U.S.......................................................................................................................................................................................................... .................3,581,350 ...............12,148,4939999999. Total................................................................................................................................................................................................................. .................3,581,350 ...............12,148,493
Annual Statement for the year 2017 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 Athene Annuity and Life........................................................................................... IA.............. YRT/I.......... OL................. ..........125,134,874 ...........55,698,851 ...........55,582,768 ..............2,919,851 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... OL................. ..........104,860,788 ................371,780 ................380,030 ..............1,599,502 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... AXXX............ ............28,600,928 ..................58,394 ..................44,437 .................265,322 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. YRT/I.......... XXXL............ ............11,811,486 ..................45,317 ..................27,089 .................137,434 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. ADB/I.......... OL................. ............................... .........................71 .........................78 ........................363 .............................. .............................. .............................. ..............................86258..... 13-2572994.... 06/01/1980 General Re Life Corporation.................................................................................... CT............. DIS/I........... OL................. ............................... ................107,705 ................102,520 .....................7,731 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... OL................. ..........199,163,676 ................420,555 ................401,473 ..............1,826,750 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... AXXX............ ..........111,066,520 ..................57,569 ..................47,062 .................456,629 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. YRT/I.......... XXXL............ ............65,083,492 ..................82,228 ..................70,893 .................204,882 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. ADB/I.......... OL................. ............................... .......................124 .......................133 ........................650 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/1944 Lincoln National Life Ins. CO.................................................................................... IN.............. DIS/I........... OL................. ............................... ................143,236 ................140,759 ...................15,439 .............................. .............................. .............................. ..............................65676..... 35-0472300.... 04/01/2000 Lincoln National Life Ins. CO.................................................................................... IN.............. CO/I............ XXXL............ .......1,565,554,249 ...........11,771,060 ...........12,404,820 ..............2,286,308 .............................. .............................. .............................. ..............................66583..... 39-0493780.... 01/01/2015 National Guardian Life.............................................................................................. WI............. YRT/I.......... OL................. ............20,512,969 ...........15,464,918 ...........12,005,743 ..............6,352,992 .............................. .............................. .............................. ..............................88099..... 75-1608507.... 02/01/2015 Optimum Re Insurance Group................................................................................. TX............. YRT/I.......... OL................. ..............4,742,692 ..................49,470 ..................44,865 .................105,585 .............................. .............................. .............................. ..............................88099..... 75-1608507.... 02/01/2015 Optimum Re Insurance Group................................................................................. TX............. YRT/I.......... XXXL............ ..............4,760,000 ..................27,056 ..................24,253 ...................57,401 .............................. .............................. .............................. ..............................88099..... 75-1608507.... 02/01/2015 Optimum Re Insurance Group................................................................................. TX............. DIS/I........... OL................. ............................... ....................7,679 ....................7,135 ........................501 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... OL................. ..........329,434,888 ................630,131 ................608,627 ..............2,667,333 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... AXXX............ ..........272,342,455 ................302,798 ................270,019 ..............1,059,598 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ YRT/I.......... XXXL............ ..........261,444,180 ................421,325 ................384,863 .................557,907 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ ADB/I.......... OL................. ............................... .........................34 .........................38 ........................148 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/1993 RGA Reinsurance Company.................................................................................... MO............ DIS/I........... OL................. ............................... ..................87,215 ..................81,344 ...................12,402 .............................. .............................. .............................. ..............................93572..... 43-1235868.... 01/01/2003 RGA Reinsurance Company.................................................................................... MO............ CO/I............ XXXL............ .......6,355,868,321 ...........65,782,526 ...........58,849,332 ............11,841,822 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................... DE............ YRT/I.......... OL................. ..........176,953,659 ..................16,914 ..................20,712 .................186,556 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................... DE............ YRT/I.......... AXXX............ ..........307,803,899 ..................22,386 ..................14,773 .................148,699 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/2012 SCOR Global Life Americas Reinsurance CO......................................................... DE............ CO/I............ XXXL............ .....22,687,016,422 .........156,040,153 .........110,781,570 ............37,130,403 .............................. .............................. .............................. ..............................64688..... 75-6020048.... 10/01/201. SCOR Global Life Americas Reinsurance CO......................................................... DE............ YRT/I.......... XXXL............ ............58,913,493 ..................24,286 .............................. ...................43,374 .............................. .............................. .............................. ..............................97071..... 13-3126819.... 11/11/2017 SCOR Global Life USA............................................................................................ KS............. YRT/I.......... XXXL............ ..........325,149,584 .........................21 .............................. .....................2,669 .............................. .............................. .............................. ..............................68713..... 84-0499703.... 03/01/2003 Security Life of Denver............................................................................................. CO............ YRT/I.......... OL................. ..............1,530,000 ....................4,721 ....................5,394 ...................16,971 .............................. .............................. .............................. ..............................68713..... 84-0499703.... 03/01/2003 Security Life of Denver............................................................................................. CO............ YRT/I.......... XXXL............ ..............3,247,060 ....................1,392 ....................1,203 ...................10,538 .............................. .............................. .............................. ..............................68713..... 84-0499703.... 03/01/2003 Security Life of Denver............................................................................................. CO............ YRT/I.......... AXXX............ .................100,000 .........................60 .........................53 ........................751 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... OL................. ..........301,630,086 ................140,035 ................128,254 .................918,076 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... AXXX............ ..........283,134,585 ................171,309 ................130,293 .................516,659 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. YRT/I.......... XXXL............ ..........206,349,970 ................142,331 ..................89,170 .................211,043 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 03/15/1988 Swiss Re Life & Health America Inc......................................................................... CT............. DIS/I........... OL................. ............................... ................156,933 ................192,311 .....................3,201 .............................. .............................. .............................. ..............................82627..... 06-0839705.... 06/01/2006 Swiss Re Life & Health America Inc......................................................................... CT............. CO/I............ XXXL............ .......5,007,779,380 ...........55,868,888 ...........50,000,203 ..............9,464,926 .............................. .............................. .............................. ..............................70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... OL................. ..........551,505,223 ................123,495 ................101,503 ..............1,328,679 .............................. .............................. .............................. ..............................70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... AXXX............ ..........854,800,397 ................199,871 ................158,583 ..............1,374,962 .............................. .............................. .............................. ..............................
Annual Statement for the year 2017 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
70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ YRT/I.......... XXXL............ ..........222,563,213 ................158,441 ................116,931 .................417,172 .............................. .............................. .............................. ..............................70688..... 36-6071399.... 07/01/1979 Transamerica Financial Life Insurance CO.............................................................. NY............ DIS/I........... OL................. ............................... .............................. .............................. - .......................... .............................. .............................. .............................. ..............................70688..... 36-6071399.... 01/01/2003 Transamerica Financial Life Insurance CO.............................................................. NY............ CO/I............ XXXL............ .....24,561,414,071 .........393,727,640 .........386,151,832 ............40,756,070 .............................. .............................. .............................. ..............................0899999. Total - General Account - Authorized - Non-Affiliates - U.S. Non-Affiliates............................................................ ............................................................... .....65,010,272,560 .........758,328,918 .........689,371,066 ..........124,907,299 ...........................0 ...........................0 ...........................0 ...........................01099999. Total - General Account - Authorized - Non-Affiliates............................................................................................ ............................................................... .....65,010,272,560 .........758,328,918 .........689,371,066 ..........124,907,299 ...........................0 ...........................0 ...........................0 ...........................01199999. Total - General Account - Authorized..................................................................................................................... ............................................................... .....65,010,272,560 .........758,328,918 .........689,371,066 ..........124,907,299 ...........................0 ...........................0 ...........................0 ...........................03499999. Total - General Account - Authorized, Unauthorized and Certified........................................................................ ............................................................... .....65,010,272,560 .........758,328,918 .........689,371,066 ..........124,907,299 ...........................0 ...........................0 ...........................0 ...........................06999999. Total U.S................................................................................................................................................................ ............................................................... .....65,010,272,560 .........758,328,918 .........689,371,066 ..........124,907,299 ...........................0 ...........................0 ...........................0 ...........................09999999. Total....................................................................................................................................................................... ............................................................... .....65,010,272,560 .........758,328,918 .........689,371,066 ..........124,907,299 ...........................0 ...........................0 ...........................0 ...........................0
Annual Statement for the year 2017 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.......... ............................... ............................... .................283,215 ............................... ............................... ............................... ...............................82627..... 06-0839705.... .09/01/1970 Swiss Re Life & Health America Inc......................................................................................................... CT............. YRT/I.......... LTDI.......... .................166,600 ............................... .................206,025 ............................... ............................... ............................... ...............................0899999. Total - General Account - Authorized - Non-Affiliates - U.S. Non-Affiliates.............................................................................................. ........................................................... .................166,600 ............................0 .................489,240 ............................0 ............................0 ............................0 ............................01099999. Total - General Account - Authorized - Non-Affiliates.............................................................................................................................. ........................................................... .................166,600 ............................0 .................489,240 ............................0 ............................0 ............................0 ............................01199999. Total - General Account - Authorized....................................................................................................................................................... ........................................................... .................166,600 ............................0 .................489,240 ............................0 ............................0 ............................0 ............................03499999. Total - General Account - Authorized, Unauthorized and Certified.......................................................................................................... ........................................................... .................166,600 ............................0 .................489,240 ............................0 ............................0 ............................0 ............................06999999. Total - U.S................................................................................................................................................................................................ ........................................................... .................166,600 ............................0 .................489,240 ............................0 ............................0 ............................0 ............................09999999. Total......................................................................................................................................................................................................... ........................................................... .................166,600 ............................0 .................489,240 ............................0 ............................0 ............................0 ............................0
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
42, 43
Sch. S - Pt. 4NONE
Sch. S - Pt. 5NONE
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
44
SCHEDULE S - PART 6Five-Year Exhibit of Reinsurance Ceded Business
($000 OMITTED)1 2 3 4 5
2017 2016 2015 2014 2013
A. OPERATIONS ITEMS
1. Premiums and annuity considerations for life and accident andhealth contracts........................................................................................................ ..................125,074 ..................119,219 ..................111,908 ....................96,103 ....................89,685
2. Commissions and reinsurance expense allowances................................................ ....................29,764 ....................27,813 ....................26,544 ....................24,542 ....................22,862
3. Contract claims......................................................................................................... ....................63,664 ....................49,847 ....................35,448 ....................49,733 ....................38,125
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.............. ....................68,902 ....................68,845 ....................67,169 ....................63,618 ....................60,628
B. BALANCE SHEET ITEMS
8. Premiums and annuity considerations for life and accident andhealth contracts deferred and uncollected............................................................... ....................87,168 ....................80,514 ....................71,532 ....................66,025 ....................60,078
9. Aggregate reserves for life and accident and health contracts................................ ..................758,818 ..................689,917 ..................621,072 ..................553,902 ..................490,109
10. Liability for deposit-type contracts............................................................................ ................................ ................................ ................................ ................................ ................................
11. Contract claims unpaid............................................................................................. ....................12,148 ......................7,113 ......................4,655 ......................5,307 ......................8,151
12. Amounts recoverable on reinsurance....................................................................... ......................3,581 ......................2,535 ......................3,599 ......................5,788 .........................541
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 2017 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)....................................................................................... .........................59,877,344,880 ................................................... .........................59,877,344,880
2. Reinsurance (Line 16)............................................................................................................ ..................................3,581,350 .................................(3,581,350) ................................................0
3. Premiums and considerations (Line 15)................................................................................. ..............................121,060,062 ................................87,167,521 ..............................208,227,583
4. Net credit for ceded reinsurance............................................................................................ .................XXX........................... ..............................687,380,480 ..............................687,380,480
5. All other admitted assets (balance)........................................................................................ ..............................475,283,422 ................................................... ..............................475,283,422
6. Total assets excluding Separate Accounts (Line 26)............................................................. .........................60,477,269,714 ..............................770,966,652 .........................61,248,236,366
7. Separate Account assets (Line 27)........................................................................................ .........................30,491,548,875 ................................................... .........................30,491,548,875
8. Total assets (Line 28)............................................................................................................. .........................90,968,818,589 ..............................770,966,652 .........................91,739,785,240
LIABILITIES, SURPLUS AND OTHER FUNDS (Page 3)
9. Contract reserves (Lines 1 and 2).......................................................................................... .........................45,379,528,823 ..............................758,818,159 .........................46,138,346,982
10. Liability for deposit-type contracts (Line 3)............................................................................. ...........................3,420,626,783 ................................................... ...........................3,420,626,783
11. Claim reserves (Line 4).......................................................................................................... ..............................338,042,326 ................................12,148,493 ..............................350,190,818
12. Member refunds/reserves (Lines 5 through 6)....................................................................... ..............................320,388,809 ................................................... ..............................320,388,809
13. Premium & annuity considerations received in advance (Line 7)........................................... ................................15,449,637 ................................................... ................................15,449,637
14. Other contract liabilities (Line 8)............................................................................................. ..............................490,742,923 ................................................... ..............................490,742,923
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 21.2 inset amount)............................................. ................................................... ................................................... ................................................0
18 Funds held under reinsurance treaties with certified reinsurers (Line 21.3 inset amount)..... ................................................... ................................................... ................................................0
19. All other liabilities (balance).................................................................................................... ...........................2,286,923,593 ................................................... ...........................2,286,923,593
20. Total liabilities excluding Separate Accounts (Line 23).......................................................... .........................52,251,702,893 ..............................770,966,652 .........................53,022,669,544
21. Separate Account liabilities (Line 24)..................................................................................... .........................30,447,788,605 ................................................... .........................30,447,788,605
22. Total liabilities (Line 25).......................................................................................................... .........................82,699,491,497 ..............................770,966,652 .........................83,470,458,149
23. Capital & surplus (Line 30)..................................................................................................... ...........................8,269,327,092 ..................XXX.......................... ...........................8,269,327,092
24. Total liabilities, capital & surplus (Line 31)............................................................................. .........................90,968,818,589 ..............................770,966,652 .........................91,739,785,241
NET CREDIT FOR CEDED REINSURANCE
25. Contract reserves................................................................................................................... ..............................758,818,159
26. Claim reserves....................................................................................................................... ................................12,148,493
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..................................................................................................... ..................................3,581,350
32. Other ceded reinsurance recoverables.................................................................................. ................................................0
33. Total ceded reinsurance recoverables................................................................................... ..............................774,548,002
34. Premiums and considerations................................................................................................ ................................87,167,521
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.............................................................................. ................................87,167,521
41. Total net credit for ceded reinsurance.................................................................................... ..............................687,380,480
Annual Statement for the year 2017 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......... ............3,478,311 ............8,711,914 .....................1,106,876 ........................... ..........13,297,100 ...........................2. Alaska..........................................................................AK ....L......... ............2,765,303 ............5,293,428 ........................354,689 ........................... ............8,413,419 ...........................3. Arizona.........................................................................AZ ....L......... ..........32,519,177 ..........63,009,754 .....................5,662,225 ........................... ........101,191,156 .............445,0004. Arkansas.....................................................................AR ....L......... ............9,221,150 ..........22,584,038 .....................1,173,141 ........................... ..........32,978,329 ...........................5. California.....................................................................CA ....L......... ..........84,945,435 ........185,645,178 ...................14,425,544 ........................... ........285,016,157 .............624,5206. Colorado.....................................................................CO ....L......... ..........39,154,614 ..........80,183,850 .....................9,265,759 ........................... ........128,604,222 .............211,9697. Connecticut..................................................................CT ....L......... ............6,573,081 ..........12,405,236 .....................1,180,477 ........................... ..........20,158,794 ...........................8. Delaware.....................................................................DE ....L......... ............1,518,576 ............3,417,248 ........................271,849 ........................... ............5,207,673 ...........................9. District of Columbia.....................................................DC ....L......... ...............451,753 ...............192,222 ..........................82,073 ........................... ...............726,048 ...........................10. Florida..........................................................................FL ....L......... ..........38,058,260 ..........79,972,721 .....................7,472,014 ........................... ........125,502,995 .............154,53711. Georgia.......................................................................GA ....L......... ..........11,930,991 ..........22,004,136 .....................2,153,539 ........................... ..........36,088,665 ...........................12. Hawaii...........................................................................HI ....L......... ...............956,099 ............2,156,445 ........................149,937 ........................... ............3,262,481 ...............48,00013. Idaho.............................................................................ID ....L......... ............8,017,371 ..........25,128,947 .....................1,792,373 ........................... ..........34,938,690 .............403,04214. Illinois............................................................................IL ....L......... ..........87,300,043 ........163,894,533 ...................22,617,866 ........................... ........273,812,441 .............475,67915. Indiana..........................................................................IN ....L......... ..........29,662,632 ..........57,174,438 .....................9,964,911 ........................... ..........96,801,981 .............206,57016. Iowa..............................................................................IA ....L......... ..........65,866,912 ........109,759,226 ...................17,161,245 ........................... ........192,787,384 .............711,42717. Kansas.........................................................................KS ....L......... ..........21,486,751 ..........31,235,039 .....................6,882,363 ........................... ..........59,604,153 ...........................18. Kentucky......................................................................KY ....L......... ............4,425,024 ..........13,364,968 .....................1,368,604 ........................... ..........19,158,596 ...............42,00019. Louisiana......................................................................LA ....L......... ............3,667,675 ............5,207,860 ........................903,165 ........................... ............9,778,700 ...............30,03220. Maine..........................................................................ME ....L......... ...............722,865 ............2,216,830 ........................387,448 ........................... ............3,327,142 ...............85,71421. Maryland.....................................................................MD ....L......... ..........14,427,469 ..........25,774,971 .....................3,082,855 ........................... ..........43,285,294 .............539,68122. Massachusetts............................................................MA ....L......... ............6,277,614 ..........13,421,040 ........................815,820 ........................... ..........20,514,474 .............371,20423. Michigan.......................................................................MI ....L......... ..........60,534,374 ........175,603,811 ...................11,452,860 ........................... ........247,591,045 .............595,11924. Minnesota...................................................................MN ....L......... ........184,343,258 ........455,917,261 ...................32,144,033 ........................... ........672,404,552 ..........1,993,52225. Mississippi...................................................................MS ....L......... ............1,333,582 ............1,874,418 ........................500,144 ........................... ............3,708,144 ...........................26. Missouri......................................................................MO ....L......... ..........45,075,448 ..........84,762,190 ...................10,902,988 ........................... ........140,740,626 .............829,95327. Montana......................................................................MT ....L......... ..........16,863,821 ..........26,305,574 .....................5,234,436 ........................... ..........48,403,831 ...........................28. Nebraska.....................................................................NE ....L......... ..........47,848,086 ..........76,693,721 ...................19,937,745 ........................... ........144,479,552 .............231,01529. Nevada........................................................................NV ....L......... ............7,086,083 ..........11,288,347 .....................1,075,279 ........................... ..........19,449,708 ...............43,51930. New Hampshire...........................................................NH ....L......... ............1,506,302 ............4,784,798 ........................283,298 ........................... ............6,574,397 ...........................31. New Jersey..................................................................NJ ....L......... ..........15,133,194 ..........32,223,195 .....................2,750,118 ........................... ..........50,106,507 .............405,98432. New Mexico................................................................NM ....L......... ............2,929,235 ............3,920,862 ........................591,616 ........................... ............7,441,712 ...........................33. New York.....................................................................NY ....L......... ..........32,675,767 ..........41,825,134 .....................1,246,795 ........................... ..........75,747,697 ...............25,74134. North Carolina.............................................................NC ....L......... ..........26,146,893 ..........48,536,702 .....................7,273,724 ........................... ..........81,957,319 ...............84,51735. North Dakota...............................................................ND ....L......... ..........37,686,147 ..........64,117,250 .....................8,705,651 ........................... ........110,509,048 .............460,05336. Ohio............................................................................OH ....L......... ..........55,174,202 ........113,248,221 ...................13,554,001 ........................... ........181,976,425 .............329,26337. Oklahoma....................................................................OK ....L......... ............8,852,321 ..........16,546,036 .....................2,544,915 ........................... ..........27,943,273 ...........................38. Oregon........................................................................OR ....L......... ..........16,087,670 ..........30,739,150 .....................3,498,600 ........................... ..........50,325,421 .............282,13539. Pennsylvania...............................................................PA ....L......... ..........70,015,302 ........163,673,150 ...................17,082,448 ........................... ........250,770,900 ..........1,313,53440. Rhode Island.................................................................RI ....L......... ...............991,741 ............2,212,337 ........................139,947 ........................... ............3,344,025 ...........................41. South Carolina.............................................................SC ....L......... ..........10,105,033 ..........22,301,779 .....................3,172,720 ........................... ..........35,579,532 .............212,95242. South Dakota...............................................................SD ....L......... ..........33,330,598 ..........43,655,900 ...................10,345,796 ........................... ..........87,332,293 ...............23,86643. Tennessee...................................................................TN ....L......... ..........11,737,920 ..........30,907,537 .....................3,181,577 ........................... ..........45,827,034 ...........................44. Texas...........................................................................TX ....L......... ..........62,489,729 ........102,825,927 ...................16,327,487 ........................... ........181,643,144 .............374,72645. Utah.............................................................................UT ....L......... ............2,196,327 ............9,217,132 ........................440,068 ........................... ..........11,853,528 ...........................46. Vermont.......................................................................VT ....L......... ...............327,235 ...............459,847 ..........................39,893 ........................... ...............826,975 ...........................47. Virginia.........................................................................VA ....L......... ..........16,661,186 ..........26,993,804 .....................3,898,854 ........................... ..........47,553,845 .............502,11248. Washington.................................................................WA ....L......... ..........45,928,986 ........101,873,756 .....................8,587,452 ........................... ........156,390,194 .............422,77949. West Virginia..............................................................WV ....L......... ............1,699,834 ............3,054,821 ........................601,249 ........................... ............5,355,903 ...........................50. Wisconsin.....................................................................WI ....L......... ........181,923,767 ........418,173,283 ...................36,402,079 ........................... ........636,499,129 .............595,60451. Wyoming.....................................................................WY ....L......... ............5,215,559 ............7,279,926 .....................2,427,613 ........................... ..........14,923,097 ...........................52. American Samoa.........................................................AS ....N......... ......................314 ............................. ...................................... ........................... ......................314 ...........................53. Guam..........................................................................GU ....N......... ......................901 ............................. ...................................... ........................... ......................901 ...........................54. Puerto Rico..................................................................PR ....N......... ......................978 ............................. ...................................... ........................... ......................978 ...........................55. US Virgin Islands..........................................................VI ....N......... ...................1,892 ............................. ...................................... ........................... ...................1,892 ...........................56. Northern Mariana Islands............................................MP ....N......... ............................. ............................. ...................................... ........................... ..........................0 ...........................57. Canada.....................................................................CAN ....N......... .................29,372 ............................. ............................2,099 ........................... .................31,471 ...........................58. Aggregate Other Alien.................................................OT ....XXX.... ...............967,595 ...............462,839 ..........................28,163 ........................0 ............1,458,597 ........................059. Subtotal............................................................................ (a)......51 .....1,476,327,756 .....3,054,232,730 .................332,648,418 ........................0 .....4,863,208,904 ........13,075,76690. Reporting entity contributions for employee benefit plans ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................91. Dividends or refunds applied to purchase paid-up
additions and annuities..................................................... ....XXX.... ........241,796,031 ............................. ...................................... ........................... ........241,796,031 ...........................92. Dividends or refunds applied to shorten endowment or
premium paying period..................................................... ....XXX.... ..........13,339,066 .................39,446 ...................................... ........................... ..........13,378,512 ...........................93. Premium or annuity considerations waived under
disability or other contract provisions............................... ....XXX.... ..........20,535,902 ............................. ..........................10,570 ........................... ..........20,546,472 ...........................94. Aggregate other amounts not allocable by State............. ....XXX.... ..........................0 ..........................0 ...................................0 ........................0 ..........................0 ........................095. Totals (Direct Business)................................................... ....XXX.... .....1,751,998,755 .....3,054,272,176 .................332,658,988 ........................0 .....5,138,929,919 ........13,075,76696. Plus reinsurance assumed............................................... ....XXX.... ............................. ............................. ...................................... ........................... ..........................0 ...........................97. Totals (All Business)......................................................... ....XXX.... .....1,751,998,755 .....3,054,272,176 .................332,658,988 ........................0 .....5,138,929,919 ........13,075,76698. Less reinsurance ceded................................................... ....XXX.... ........118,253,648 ............................. ........................166,600 ........................... ........118,420,248 ...........................99. Totals (All Business) less reinsurance ceded................... ....XXX.... .....1,633,745,107 .....3,054,272,176 (b)............332,492,388 ........................0 .....5,020,509,671 ........13,075,766
DETAILS OF WRITE-INS58001. Other Alien....................................................................... ....XXX.... ...............967,595 ...............462,839 ..........................28,163 ........................... ............1,458,597 ...........................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.... ...............967,595 ...............462,839 ..........................28,163 ........................0 ............1,458,597 ........................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 Domiciled 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 considerations
Premiums are allocated in 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 2017 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 ............3,478,311 ............8,711,914 ...............120,038 ...............618,797 .............................. ..........12,929,0592. Alaska.............................................................................................AK ............2,765,303 ............5,293,428 .................82,494 ...............268,660 .............................. ............8,409,8843. Arizona...........................................................................................AZ ..........32,519,177 ..........63,009,754 ...............668,377 ............3,650,232 ...............445,000 ........100,292,5404. Arkansas........................................................................................AR ............9,221,150 ..........22,584,038 ...............201,965 ...............762,572 .............................. ..........32,769,7255. California........................................................................................CA ..........84,945,435 ........185,645,178 ............2,942,983 ............9,158,372 ...............624,520 ........283,316,4886. Colorado........................................................................................CO ..........39,154,614 ..........80,183,850 ............1,167,477 ............5,608,114 ...............211,969 ........126,326,0237. Connecticut....................................................................................CT ............6,573,081 ..........12,405,236 ...............414,625 ...............758,500 .............................. ..........20,151,4418. Delaware........................................................................................DE ............1,518,576 ............3,417,248 .................31,657 ...............230,313 .............................. ............5,197,7949. District of Columbia.......................................................................DC ...............451,753 ...............192,222 .................34,990 .................44,925 .............................. ...............723,89010. Florida.............................................................................................FL ..........38,058,260 ..........79,972,721 ...............926,219 ............5,618,456 ...............154,537 ........124,730,19311. Georgia..........................................................................................GA ..........11,930,991 ..........22,004,136 ...............535,390 ............1,543,584 .............................. ..........36,014,10012. Hawaii..............................................................................................HI ...............956,099 ............2,156,445 .................34,107 ...............107,349 .................48,000 ............3,302,00013. Idaho................................................................................................ID ............8,017,371 ..........25,128,947 ...............172,390 ............1,197,062 ...............403,042 ..........34,918,81214. Illinois...............................................................................................IL ..........87,300,043 ........163,894,533 ............2,513,821 ..........14,384,739 ...............475,679 ........268,568,81415. Indiana.............................................................................................IN ..........29,662,632 ..........57,174,438 ...............821,777 ............4,476,859 ...............206,570 ..........92,342,27616. Iowa.................................................................................................IA ..........65,866,912 ........109,759,226 ............1,846,707 ..........10,964,714 ...............711,427 ........189,148,98617. Kansas...........................................................................................KS ..........21,486,751 ..........31,235,039 ...............577,656 ............3,054,500 .............................. ..........56,353,94518. Kentucky.........................................................................................KY ............4,425,024 ..........13,364,968 ...............177,741 ...............599,250 .................42,000 ..........18,608,98319. Louisiana........................................................................................LA ............3,667,675 ............5,207,860 ...............129,047 ...............430,153 .................30,032 ............9,464,76720. Maine.............................................................................................ME ...............722,865 ............2,216,830 .................34,898 ...............102,787 .................85,714 ............3,163,09421. Maryland........................................................................................MD ..........14,427,469 ..........25,774,971 ...............679,727 ............1,754,002 ...............539,681 ..........43,175,85022. Massachusetts...............................................................................MA ............6,277,614 ..........13,421,040 ...............227,288 ...............576,670 ...............371,204 ..........20,873,81623. Michigan..........................................................................................MI ..........60,534,374 ........175,603,811 ............1,888,854 ............7,488,596 ...............595,119 ........246,110,75424. Minnesota......................................................................................MN ........184,343,258 ........455,917,261 ............6,016,036 ..........25,230,479 ............1,993,522 ........673,500,55625. Mississippi.....................................................................................MS ............1,333,582 ............1,874,418 .................44,396 ...............205,841 .............................. ............3,458,23726. Missouri.........................................................................................MO ..........45,075,448 ..........84,762,190 ...............872,106 ............7,026,825 ...............829,953 ........138,566,52227. Montana.........................................................................................MT ..........16,863,821 ..........26,305,574 ...............334,350 ............2,741,129 .............................. ..........46,244,87428. Nebraska........................................................................................NE ..........47,848,086 ..........76,693,721 ............1,068,581 ............8,617,024 ...............231,015 ........134,458,42729. Nevada...........................................................................................NV ............7,086,083 ..........11,288,347 ...............139,363 ...............660,528 .................43,519 ..........19,217,84030. New Hampshire.............................................................................NH ............1,506,302 ............4,784,798 .................65,066 ...............188,542 .............................. ............6,544,70831. New Jersey.....................................................................................NJ ..........15,133,194 ..........32,223,195 ...............535,847 ............2,178,410 ...............405,984 ..........50,476,63032. New Mexico...................................................................................NM ............2,929,235 ............3,920,862 .................87,218 ...............401,190 .............................. ............7,338,50433. New York.......................................................................................NY ..........32,675,767 ..........41,825,134 ...............555,424 ...............665,409 .................25,741 ..........75,747,47434. North Carolina...............................................................................NC ..........26,146,893 ..........48,536,702 ...............876,833 ............3,798,349 .................84,517 ..........79,443,29435. North Dakota..................................................................................ND ..........37,686,147 ..........64,117,250 ...............480,333 ............6,214,692 ...............460,053 ........108,958,47536. Ohio...............................................................................................OH ..........55,174,202 ........113,248,221 ............1,485,783 ............8,145,233 ...............329,263 ........178,382,70337. Oklahoma......................................................................................OK ............8,852,321 ..........16,546,036 ...............242,317 ............1,249,915 .............................. ..........26,890,59038. Oregon...........................................................................................OR ..........16,087,670 ..........30,739,150 ...............524,388 ............2,257,625 ...............282,135 ..........49,890,96839. Pennsylvania..................................................................................PA ..........70,015,302 ........163,673,150 ............2,572,756 ..........10,829,196 ............1,313,534 ........248,403,93940. Rhode Island...................................................................................RI ...............991,741 ............2,212,337 .................40,309 .................95,744 .............................. ............3,340,13141. South Carolina...............................................................................SC ..........10,105,033 ..........22,301,779 ...............296,370 ............2,094,520 ...............212,952 ..........35,010,65442. South Dakota.................................................................................SD ..........33,330,598 ..........43,655,900 ...............830,156 ............6,423,780 .................23,866 ..........84,264,30043. Tennessee.....................................................................................TN ..........11,737,920 ..........30,907,537 ...............285,355 ............1,380,894 .............................. ..........44,311,70644. Texas..............................................................................................TX ..........62,489,729 ........102,825,927 ............1,621,793 ............9,849,083 ...............374,726 ........177,161,25745. Utah................................................................................................UT ............2,196,327 ............9,217,132 .................55,516 ...............371,478 .............................. ..........11,840,45346. Vermont..........................................................................................VT ...............327,235 ...............459,847 .................12,630 .................27,263 .............................. ...............826,97547. Virginia...........................................................................................VA ..........16,661,186 ..........26,993,804 ...............830,589 ............2,735,639 ...............502,112 ..........47,723,33148. Washington...................................................................................WA ..........45,928,986 ........101,873,756 ............1,436,025 ............6,989,999 ...............422,779 ........156,651,54549. West Virginia.................................................................................WV ............1,699,834 ............3,054,821 .................65,512 ...............289,396 .............................. ............5,109,56250. Wisconsin.......................................................................................WI ........181,923,767 ........418,173,283 ............4,279,773 ..........19,083,313 ...............595,604 ........624,055,73951. Wyoming.......................................................................................WY ............5,215,559 ............7,279,926 ...............123,210 ...............983,315 .............................. ..........13,602,01052. American Samoa...........................................................................AS ......................314 .............................. .............................. .............................. .............................. ......................31453. Guam.............................................................................................GU ......................901 .............................. .............................. .............................. .............................. ......................90154. Puerto Rico....................................................................................PR ......................978 .............................. .............................. .............................. .............................. ......................97855. US Virgin Islands.............................................................................VI ...................1,892 .............................. .............................. .............................. .............................. ...................1,89256. Northern Mariana Islands..............................................................MP .............................. .............................. .............................. .............................. .............................. ..........................057. Canada........................................................................................CAN .................29,372 .............................. ...................2,099 .............................. .............................. .................31,47158. Aggregate Other Alien...................................................................OT ...............967,595 ...............462,839 .................15,640 .................12,523 .............................. ............1,458,59759. Totals................................................................................................... .....1,476,327,756 .....3,054,232,730 ..........42,026,004 ........204,146,535 ..........13,075,766 .....4,789,808,792
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
48
SCHEDULE Y – INFORMATION CONCERNING ACTIVITIES OF INSURER MEMBERS OF A HOLDING COMPANY GROUPPART 1 – ORGANIZATIONAL CHART
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
48.1
SCHEDULE Y – INFORMATION CONCERNING ACTIVITIES OF INSURER MEMBERS OF A HOLDING COMPANY GROUPPART 1 – ORGANIZATIONAL CHART
Annual Statement for the year 2017 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......... .......100.0 ................................................................. ......Y....... *...........2938 Thrivent Financial for Lutherans. 97721... 41-1437943.. ……………. ……………. ………............. Thrivent Life Insurance Company.............................................. MN............ IA.................. Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 39-1932303.. ..2745529 ....1083097 ………............. Thrivent Trust Company............................................................. WI............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......Y....... .................... Thrivent Financial for Lutherans. ............. 39-1534368.. ……………. ……………. ………............. North Meadows Investment Ltd................................................. WI............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......Y....... .................... Thrivent Financial for Lutherans. ............. 25-1200088.. ……………. ......817712 ………............. Thrivent Financial Investor Services Inc..................................... PA............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......Y....... .................... Thrivent Financial for Lutherans. ............. 41-1780150.. ……………. ……………. ………............. Thrivent Insurance Agency Inc................................................... MN............ DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 39-1559375.. ……………. ……………. ………............. Thrivent Investment Management Inc........................................ DE............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 26-2521785.. ……………. ....1346952 ………............. Thrivent Asset Management, LLC.............................................. DE............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 47-3199809.. ……………. ……………. ………............. Thrivent Distributors, LLC.......................................................... DE............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 47-4809568.. ……………. ……………. ………….......... PREPARE/ENRICH, LLC.......................................................... DE............. OTH.............. Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 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......... .........90.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 82-2347181.. ……………. ……………. ………............. Thrivent Education Finance Group, LLC.................................... DE............. DS................ Thrivent Financial Holdings Inc.............................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... .................... Thrivent Financial for Lutherans. ............. 46-2037515.. ……………. ……………. ………............. Gold Ring Holdings, LLC............................................................ DE............. DS................ Thrivent Financial for Lutherans............................. Ownership......... .......100.0 ................................................................. ......N....... .................... Thrivent Financial for Lutherans. ............. 81-1538357.. ……………. ……………. ………............. Thrivent Education Funding, LLC............................................... DE............. DS................ Thrivent Financial for Lutherans............................. Ownership......... .......100.0 ................................................................. ......N....... .................... Thrivent Financial for Lutherans. ............. 30-0439087.. ……………. ....1415351 ………............. White Rose Fund I Equity Direct, L.P. ....................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.3 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 30-0439082.. ……………. ....1415352 ………............. White Rose Fund I Fund of Funds, L.P...................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.8 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 51-0659163.. ……………. ....1425625 ………............. Thrivent White Rose Fund II Equity Direct, L.P.......................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.3 ................................................................. ......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......... .........99.8 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 26-3900532.. ……………. ....1459014 ………............. Thrivent White Rose Fund III Equity Direct, L.P......................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.3 ................................................................. ......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......... .........99.8 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 26-3900714.. ……………. ....1459078 ………............. Thrivent White Rose Fund III Mezzanine Direct, L.P................. DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.3 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 27-4527323.. ……………. ....1510309 ………............. Thrivent White Rose Fund IV Equity Direct, L.P........................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........98.9 ................................................................. ......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......... .........99.8 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 80-0773644.. ……………. ....1539289 ………............. Thrivent White Rose Fund V Equity Direct, L.P......................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.1 ................................................................. ......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......... .........99.8 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 36-4751484.. ……………. ....1567198 ………............. Thrivent White Rose Fund VI Equity Direct, L.P........................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.0 ................................................................. ......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......... .........99.9 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 46-4500965.. ……………. ....1604036 ………............. Thrivent White Rose Fund VII Equity Direct, L.P....................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........98.9 ................................................................. ......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......... .......100.0 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......... .........99.8 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 47-2561485.. ……………. ....1628462 ………............. Thrivent White Rose Fund VIII Equity Direct, L.P...................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........98.6 ................................................................. ......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......... .........99.7 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 81-0709375.. ……………. ....1663375 ………............. Thrivent White Rose Fund IX Equity Direct, L.P........................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........98.6 ................................................................. ......N....... **.........
Annual Statement for the year 2017 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. ............. 81-1927462.. ……………. ……………. ………............. White Rose IX Equity Direct Corporation................................... DE............. OTH.............. Thrivent White Rose Fund IX Equity Direct, L.P.... Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... ****............... Thrivent Financial for Lutherans. ............. 81-0725894.. ……………. ....1663385 ………............. Thrivent White Rose Fund IX Fund of Funds, L.P..................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.9 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 81-4575314.. ……………. ....1694529 ………............. Thrivent White Rose Fund X Equity Direct, L.P......................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........98.3 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 82-1102840.. ……………. ……………. ………............. Thrivent White Rose X Equity Direct Corporation I.................... DE............. OTH.............. White Rose Fund X Equity Direct, L.P................... Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... ****............... Thrivent Financial for Lutherans. ............. 82-1307437.. ……………. ……………. ………............. Thrivent White Rose X Equity Direct Corporation II................... DE............. OTH.............. White Rose Fund X Equity Direct, L.P................... Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......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......... .........99.9 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 82-2466553.. ……………. ....1725642 ………............. Thrivent White Rose Fund XI Equity Direct, L.P........................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........98.6 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 82-2982253.. ……………. ……………. ………............. Thrivent White Rose Fund XI Equity Direct, Corporation I......... DE............. OTH.............. White Rose Fund XI Equity Direct, L.P.................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... **................. Thrivent Financial for Lutherans. ............. 82-2994923.. ……………. ……………. ………............. Thrivent White Rose Fund XI Equity Direct, Corporation II........ DE............. OTH.............. White Rose Fund XI Equity Direct, L.P.................. Ownership......... .......100.0 Thrivent Financial for Lutherans............... ......N....... **................. Thrivent Financial for Lutherans. ............. 82-2480104.. ……………. ....1725653 ………............. Thrivent White Rose Fund XI Fund of Funds, L.P..................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.9 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 81-5359083.. ……………. ....1704260 ………............. Thrivent White Rose Real Estate Fund I Fund of Funds, L.P.... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.1 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 30-0439077.. ……………. ……………. ………............. White Rose GP I, LLC................................................................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........75.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 51-0659063.. ……………. ……………. ………............. Thrivent White Rose GP II, LLC................................................. DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........67.5 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 26-3900402.. ……………. ……………. ………............. Thrivent White Rose GP III, LLC................................................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........67.5 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 27-4524712.. ……………. ……………. ………............. Thrivent White Rose GP IV, LLC............................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........65.5 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 33-4719776.. ……………. ……………. ………............. Thrivent White Rose GP V, LLC................................................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........64.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 46-1753069.. ……………. ……………. ………............. Thrivent White Rose GP VI, LLC............................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........30.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 46-4441354.. ……………. ……………. ………............. Thrivent White Rose GP VII, LLC.............................................. DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........30.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 47-2561356.. ……………. ....1636128 ………............. Thrivent White Rose GP VIII, LLC............................................. DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........25.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 81-0705471.. ……………. ....1663440 ………............. Thrivent White Rose GP IX, LLC............................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........37.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 81-4594296.. ……………. ....1694503 ………............. Thrivent White Rose GP X, LLC................................................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........34.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 82-2450674.. ……………. ....1725636 ………............. Thrivent White Rose GP XI, LLC............................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........22.5 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 81-5349309.. ……………. ....1704197 ………............. Thrivent White Rose Real Estate GP I, LLC.............................. DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........40.0 ................................................................. ......N....... ***................ Thrivent Financial for Lutherans. ............. 02-0755424.. ……………. ……………. ………............. Pacific Street Fund, L.P. ........................................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.6 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 94-3436464.. ……………. ....1444779 ………............. Pacific Street Fund II, L.P. ........................................................ DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.6 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 46-2898885.. ……………. ....1599480 ………............. Pacific Street Fund III, L.P......................................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........99.4 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 38-4021051.. ……………. ……………. ………............. Pacific Street Fund IV, L.P......................................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........97.2 ................................................................. ......N....... **................. Thrivent Financial for Lutherans. ............. 02-0755407.. ……………. ……………. ………............. Twin Bridge Capital Partners, LLC............................................. DE............. OTH.............. Thrivent Financial for Lutherans............................. Ownership......... .........49.0 ................................................................. ......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....... ***........…………Thrivent Financial for Lutherans. ……….. 81-4631592.. ……………. ……………. ………….......... Pacific Street GP IV, LLC........................................................... DE............. OTH.............. Thrivent Financial for Lutherans............................. Management..... ………….0 ................................................................. ......N....... ***........…………................................................... ……….. 45-5527495.. ……………. ......811869 ………….......... Thrivent Mutual Fund................................................................. MA............ OTH.............. ............................................................................... .......................... ………….0 ................................................................. ......N....... ............…………................................................... ……….. 46-0990187.. ……………. ......790166 ………….......... Thrivent Series Fund.................................................................. MN............ OTH.............. ............................................................................... .......................... ………….0 ................................................................. ......N....... ............…………................................................... ……….. ..................... ……………. ....1669626 ………….......... Thrivent Core Fund.................................................................... DE............. OTH.............. ............................................................................... .......................... ………….0 ................................................................. ......N....... .................... ................................................... ............. ..................... ……………. ....1721413 ………….......... Thrivent Church Loan and Income Fund……………….............. DE............. OTH.............. ............................................................................... .......................... ………….0 ................................................................. ......N....... ............
Annual Statement for the year 2017 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) *…………................................................... ……….. 20-1467561.. ……………. ....1300087 ………….......... Thrivent Cash Management Trust.............................................. MA............ OTH.............. ............................................................................... .......................... ………….0 ................................................................. ......N....... ............
Asterisk Explanation* Essentially 100%, except five (5) shares held by directors** Private Equity Fund*** General Partner to Private Equity Funds**** Management Company to Private Equity Funds
Annual Statement for the year 2017 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............................................................... ..............698,491,795 .............(672,944,720) ................................... ................................... ................................... ................................... ....... .................................. ...............25,547,075 .............................................................. 39-1559369.............. Thrivent Financial Holdings Inc................................................................ ................10,404,788 .................(6,900,000) ................................... ................................... ................................... ................................... ....... .................................. .................3,504,788 ..................................97721.................. 41-1437943.............. Thrivent Life Insurance Company............................................................ .................(1,404,788) ................................... ................................... ................................... ................................... ................................... ....... .................................. ................(1,404,788) .............................................................. 39-1932303.............. Thrivent Trust Company........................................................................... ................................... ................31,000,000 ................................... ................................... ................................... ................................... ....... .................................. ...............31,000,000 .............................................................. 41-1780150.............. Thrivent Insurance Agency Inc................................................................. ................................... ....................(280,000) ................................... ................................... ................................... ................................... ....... .................................. ...................(280,000) .............................................................. 26-2521785.............. Thrivent Asset Management, LLC............................................................ ...............(15,000,000) ................................... ................................... ................................... ................................... ................................... ....... .................................. ..............(15,000,000) .............................................................. 47-4809568.............. PREPARE/ENRICH, LLC......................................................................... .................(1,000,000) ................................... ................................... ................................... ................................... ................................... ....... .................................. ................(1,000,000) .............................................................. 41-1902733.............. Newman Financial Services, LLC............................................................ ................................... .....................280,000 ................................... ................................... ................................... ................................... ....... .................................. ....................280,000 .............................................................. 81-1263566.............. cuLearn, LLC............................................................................................ ................................... ................11,900,000 ................................... ................................... ................................... ................................... ....... .................................. ...............11,900,000 .............................................................. 82-2347181.............. Thrivent Education Finance Group, LLC.................................................. ................................... ..................4,300,000 ................................... ................................... ................................... ................................... ....... .................................. .................4,300,000 .............................................................. 46-2037515.............. Gold Ring Holdings, LLC.......................................................................... .................(7,170,000) ..................5,958,091 ................................... ................................... ................................... ................................... ....... .................................. ................(1,211,909) .............................................................. 81-1538357.............. Thrivent Education Funding, LLC............................................................. ................................... ..................7,950,000 ................................... ................................... ................................... ................................... ....... .................................. .................7,950,000 .............................................................. ................................. Thrivent White Rose Funds Limited Partnerships.................................... .............(407,518,534) ..............459,575,580 ................................... ................................... ................................... ................................... ....... .................................. ...............52,057,046 .............................................................. ................................. Pacific Street Funds Limited Partnerships............................................... .............(276,803,261) ..............159,161,049 ................................... ................................... ................................... ................................... ....... .................................. ............(117,642,212) ..................................
9999999. Control Totals............................................................................................................................... ................................0 ................................0 ................................0 ................................0 ................................0 ................................0 XXX ...............................0 ...............................0 ...............................0
Annual Statement for the year 2017 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 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? SEE EXPLANATION11. Will the Trusteed Surplus Statement be filed with the state of domicile and the NAIC by March 1? SEE EXPLANATION12. 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? SEE EXPLANATION13. 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? SEE EXPLANATION14. Will the actuarial opinion on X-Factors be filed with the state of domicile and electronically with the NAIC by March 1? SEE EXPLANATION15. 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? SEE EXPLANATION16. Will the actuarial opinion on Synthetic Guaranteed Investment Contracts be filed with the state of domicile and electronically with the NAIC by March 1? SEE EXPLANATION17. 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? SEE EXPLANATION18. 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? SEE EXPLANATION19. 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? SEE EXPLANATION20. 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? SEE EXPLANATION21. 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? SEE EXPLANATION22. 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? SEE EXPLANATION23. 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? SEE EXPLANATION24. 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? SEE EXPLANATION25. 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? SEE EXPLANATION26. 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? SEE EXPLANATION27. 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? SEE EXPLANATION28. 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? SEE EXPLANATION29. 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? SEE EXPLANATION30. 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? SEE EXPLANATION31. Will the Medicare Part D Coverage Supplement be filed with the state of domicile and the NAIC by March 1? SEE EXPLANATION32. 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? SEE EXPLANATION33. 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? SEE EXPLANATION34. 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? SEE EXPLANATION35. Will the VM-20 Reserves Supplement be filed with the state of domicile and the NAIC by March 1? SEE EXPLANATION
APRIL FILING36. Will the confidential Regulatory Asset Adequacy Issues Summary (RAAIS) required by the Valuation Manual
be filed with the state of domicile by April 1? SEE EXPLANATION37. Will the Long-Term Care Experience Reporting be filed with the state of domicile and the NAIC by April 1? SEE EXPLANATION38. Will the Interest-Sensitive Life Insurance Products Report Forms be filed with the state of domicile and the NAIC by April 1? SEE EXPLANATION39. Will the Accident and Health Policy Experience Exhibit be filed by April 1? YES40. Will the Analysis of Annuity Operations by Lines of Business be filed with the state of domicile and the NAIC by April 1? YES41. Will the Analysis of Increase in Annuity Reserves During the Year be filed with the state of domicile and the NAIC by April 1? YES42. Will the Supplemental Health Care Exhibit (Parts 1, 2 and 3) be filed with the state of domicile and the NAIC by April 1? SEE EXPLANATION43. 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? SEE EXPLANATION44. Will the confidential Actuarial Memorandum required by Actuarial Guideline XXXVIII 8D be filed with the state of domicile by April 30? SEE EXPLANATION45. Will the Supplemental Term and Universal Life Insurance Reinsurance Exhibit be filed with the state of domicile and the NAIC by April 1? SEE EXPLANATION46. Will the Variable Annuities Supplement by filed with the state of domicile and the NAIC by April 1? SEE EXPLANATION
AUGUST FILING
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
51.1
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES47. Will Management's Report of Internal Control Over Financial Reporting be filed with the state of domicile by August 1? YES
EXPLANATIONS: BARCODES:1.
2.
3.
4.
5.
6.
7.
8.
9. NO*56014201722200000*
10.
11. NO*56014201749000000*
12.
13.
14.
15. NO*56014201744300000*
16. NO*56014201744400000*
17. NO*56014201744500000*
18.
19. NO*56014201744700000*
20. NO*56014201744800000*
21. NO*56014201744900000*
22.
23.
24. NO*56014201745200000*
25.
26.
27.
28.
29.
30. NO*56014201745400000*
31. NO*56014201736500000*
32. NO*56014201722400000*
33. NO*56014201722500000*
34. NO
*56014201722600000*35.
36.
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
51.2
SUPPLEMENTAL EXHIBITS AND SCHEDULES INTERROGATORIES37.
38.
39.
40.
41.
42.
43. NO*56014201721700000*
44. NO*56014201743500000*
45.
46.
47.
Annual Statement for the year 2017 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......................................................................................................... ...................1,133,009 ...................1,133,009 .................................0 ....................................2597. Summary of remaining write-ins for Line 25...................................................................... ...................1,133,009 ...................1,133,009 .................................0 .................................0Additional Write-ins for Summary of Operations:
1 2Current Year Prior Year
2504. Miscellaneous............................................................................................................................................................................................... ................................... ...............12,100,0002597. Summary of remaining write-ins for Line 25................................................................................................................................................ ...............................0 ...............12,100,000Additional 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............ ......................... ......................... ......................... ......................... ......................... ......11,768,994 ......11,768,99409.397 Summary of remaining write-ins for Line 9.3.................................... ......................0 ......................0 ......................0 ......................0 ......................0 ......11,768,994 ......11,768,994
Annual Statement for the year 2017 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. Transfer between funds............................................................................................................................................................... ...............................0 ............................... ............................... ............................... ............................... .............................. ............................0 ............................... ...............................2505. Fraternal allocation...................................................................................................................................................................... ...............................0 ...........107,974,623 ...........123,229,239 ...............7,501,799 ..........(104,716,287) ............45,716,918 ...........179,706,292 ..........(179,706,292) ...............................2597. Summary of remaining write-ins for Line 25................................................................................................................................. ...............................0 ...........107,974,623 ...........123,229,239 ...............7,501,799 ..........(104,716,287) ............45,716,918 ...........179,706,292 ..........(179,706,292) ............................0
Annual Statement for the year 2017 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....................................................................................... .....2,249,962,341 .............3.8 .....2,249,962,341 ............................. .........2,249,962,341 .............3.81.2 U.S. government agency obligations (excluding mortgage-backed
securities):1.21 Issued by U.S. government agencies........................................................ ..........28,791,759 .............0.0 ..........28,791,759 ............................. ..............28,791,759 .............0.01.22 Issued by U.S. government sponsored agencies...................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
1.3 Non-U.S. government (including Canada, excluding mortgage-backed securities)............................................................................................... ........106,543,859 .............0.2 ........106,543,859 ............................. ............106,543,859 .............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............................. ..........48,714,598 .............0.1 ..........48,714,598 ............................. ..............48,714,598 .............0.11.42 Political subdivisions of states, territories and possessions and
political subdivisions general obligations................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.01.43 Revenue and assessment obligations....................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............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..................................................... ..........29,873,417 .............0.0 ..........29,873,417 ............................. ..............29,873,417 .............0.01.512 Issued or guaranteed by FNMA and FHLMC.................................. .....6,986,074,283 ...........11.7 .....6,986,074,283 ............................. .........6,986,074,283 ...........11.71.513 All other........................................................................................... ........126,212,230 .............0.2 ........126,212,230 ............................. ............126,212,230 .............0.2
1.52 CMOs and REMICs:1.521 Issued or guaranteed by GNMA, FNMA, FHLMC or VA................. ........132,045,031 .............0.2 ........132,045,031 ............................. ............132,045,031 .............0.21.522 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........................................................................................... ........330,789,741 .............0.6 ........330,789,741 ............................. ............330,789,741 .............0.6
2. Other debt and other fixed income securities (excluding short-term):2.1 Unaffiliated domestic securities (includes credit tenant loans and
hybrid securities)................................................................................................. ...27,406,694,587 ...........45.8 ...27,406,694,587 ............................. .......27,406,694,587 ...........45.82.2 Unaffiliated non-U.S. securities (including Canada)........................................... .....5,845,466,804 .............9.8 .....5,845,466,804 ............................. .........5,845,466,804 .............9.82.3 Affiliated securities.............................................................................................. ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
3. Equity interests:3.1 Investments in mutual funds............................................................................... ........361,608,311 .............0.6 ........361,608,311 ............................. ............361,608,311 .............0.63.2 Preferred stocks:
3.21 Affiliated..................................................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.03.22 Unaffiliated................................................................................................. ........156,454,194 .............0.3 ........156,454,194 ............................. ............156,454,194 .............0.3
3.3 Publicly traded equity securities (excluding preferred stocks):3.31 Affiliated..................................................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.03.32 Unaffiliated................................................................................................. .....1,303,977,694 .............2.2 .....1,303,977,694 ............................. .........1,303,977,694 .............2.2
3.4 Other equity securities:3.41 Affiliated..................................................................................................... ........318,533,110 .............0.5 ........318,533,110 ............................. ............318,533,110 .............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................................................................... ..........65,341,020 .............0.1 ..........65,341,020 ............................. ..............65,341,020 .............0.14.2 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............................................................................................... .....8,136,799,622 ...........13.6 .....8,136,799,622 ............................. .........8,136,799,622 ...........13.64.6 Mezzanine real estate loans............................................................................... ............................. .............0.0 ............................. ............................. ..............................0 .............0.0
5. Real estate investments:5.1 Property occupied by company........................................................................... ..........44,807,224 .............0.1 ..........44,807,224 ............................. ..............44,807,224 .............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)............................................................................................. ..........14,168,844 .............0.0 ..........14,168,844 ............................. ..............14,168,844 .............0.06. Contract loans............................................................................................................. .....1,162,245,335 .............1.9 .....1,160,638,792 ............................. .........1,160,638,792 .............1.97. Derivatives.................................................................................................................. ..........47,423,799 .............0.1 ..........47,423,799 ............................. ..............47,423,799 .............0.18. Receivables for securities........................................................................................... ..........49,535,189 .............0.1 ..........49,535,189 ............................. ..............49,535,189 .............0.19. Securities lending (Line 10, Asset Page reinvested collateral)................................... ............................. .............0.0 ............................. .........XXX............. .........XXX................. .........XXX...
10. Cash, cash equivalents and short-term investments.................................................. .....1,573,261,347 .............2.6 .....1,573,261,347 ............................. .........1,573,261,347 .............2.611. Other invested assets................................................................................................. .....3,357,282,856 .............5.6 .....3,353,627,083 ............................. .........3,353,627,083 .............5.612. Total invested assets.................................................................................................. ...59,882,607,196 .........100.0 ...59,877,344,881 ..........................0 .......59,877,344,881 .........100.0
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
SI02
SCHEDULE A - VERIFICATION BETWEEN YEARS Real Estate
1. Book/adjusted carrying value, December 31 of prior year...................................................................................................................................................................... 55,311,804
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)........................................................................................... 10,086,243 10,086,243
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..................................................................................................................................................................................
5. Deduct amounts received on disposals, Part 3, Column 15...................................................................................................................................................................
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........................................................................................................................................................ 6,421,978
8.2 Totals, Part 3, Column 9........................................................................................................................................................... 6,421,978
9. Book/adjusted carrying value at end of current period (Lines 1+2+3+4-5+6-7-8)................................................................................................................................. 58,976,069
10. Deduct total nonadmitted amounts.........................................................................................................................................................................................................
11. Statement value at end of current period (Line 9 minus Line 10).......................................................................................................................................................... 58,976,069
SCHEDULE B - VERIFICATION BETWEEN YEARS Mortgage Loans
1. Book value/recorded investment excluding accrued interest, December 31 of prior year..................................................................................................................... 7,775,910,151
2. Cost of acquired:
2.1 Actual cost at time of acquisition (Part 2, Column 7)............................................................................................................... 1,326,058,481
2.2 Additional investment made after acquisition (Part 2, Column 8)........................................................................................... 72,096,953 1,398,155,434
3. Capitalized deferred interest and other:
3.1 Totals, Part 1, Column 12........................................................................................................................................................ 1,050,451
3.2 Totals, Part 3, Column 11........................................................................................................................................................ 1,050,451
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..................................................................................................................................................................................
7. Deduct amounts received on disposals, Part 3, Column 15................................................................................................................................................................... 972,975,394
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........................................................................................................................................................ 0
11. Book value/recorded investment excluding accrued interest at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)...................................................................... 8,202,140,642
12. Total valuation allowance........................................................................................................................................................................................................................
13. Subtotal (Line 11 plus Line 12)............................................................................................................................................................................................................... 8,202,140,642
14. Deduct total nonadmitted amounts.........................................................................................................................................................................................................
15. Statement value of mortgages owned at end of current period (Line 13 minus Line 14)...................................................................................................................... 8,202,140,642
Annual Statement for the year 2017 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...................................................................................................................................................................... 3,068,311,784
2. Cost of acquired:
2.1 Actual cost at time of acquisition (Part 2, Column 8)............................................................................................................... 22,071,014
2.2 Additional investment made after acquisition (Part 2, Column 9)........................................................................................... 696,420,766 718,491,780
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.................................................................................................................................................................................................................................. 27,783
5. Unrealized valuation increase (decrease):
5.1 Totals, Part 1, Column 13........................................................................................................................................................ 374,327,598
5.2 Totals, Part 3, Column 9........................................................................................................................................................... 1,021,241 375,348,839
6. Total gain (loss) on disposals, Part 3, Column 19.................................................................................................................................................................................. 21,351,580
7. Deduct amounts received on disposals, Part 3, Column 16................................................................................................................................................................... 831,505,181
8. Deduct amortization of premium and depreciation................................................................................................................................................................................. 45,424
9. Total foreign exchange change in book/adjusted carrying value:
9.1 Totals, Part 1, Column 17........................................................................................................................................................ 5,301,682
9.2 Totals, Part 3, Column 14........................................................................................................................................................ 5,301,682
10. Deduct current year's other-than-temporary impairment recognized:
10.1 Totals, Part 1, Column 15........................................................................................................................................................
10.2 Totals, Part 3, Column 11........................................................................................................................................................ 0
11. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5+6-7-8+9-10)....................................................................................................................... 3,357,282,844
12. Deduct total nonadmitted amounts......................................................................................................................................................................................................... 3,655,773
13. Statement value at end of current period (Line 11 minus Line 12)........................................................................................................................................................ 3,353,627,071
SCHEDULE D - VERIFICATION BETWEEN YEARS Bonds and Stocks
1. Book/adjusted carrying value, December 31 of prior year...................................................................................................................................................................... 43,621,515,810
2. Cost of bonds and stocks acquired, Part 3, Column 7............................................................................................................................................................................ 13,547,731,788
3. Accrual of discount.................................................................................................................................................................................................................................. 34,077,534
4. Unrealized valuation increase (decrease):
4.1 Part 1, Column 12.................................................................................................................................................................... 5,320,884
4.2 Part 2, Section 1, Column 15...................................................................................................................................................
4.3 Part 2, Section 2, Column 13................................................................................................................................................... 224,623,712
4.4 Part 4, Column 11.................................................................................................................................................................... (71,103,058) 158,841,538
5. Total gain (loss) on disposals, Part 4, Column 19.................................................................................................................................................................................. 297,525,510
6. Deduct consideration for bonds and stocks disposed of, Part 4, Column 7........................................................................................................................................... 12,162,683,779
7. Deduct amortization of premium............................................................................................................................................................................................................. 86,847,752
8. Total foreign exchange change in book/adjusted carrying value:
8.1 Part 1, Column 15.................................................................................................................................................................... 14,615,993
8.2 Part 2, Section 1, Column 19...................................................................................................................................................
8.3 Part 2, Section 2, Column 16...................................................................................................................................................
8.4 Part 4, Column 15.................................................................................................................................................................... 16,595,718 31,211,711
9. Deduct current year's other-than-temporary impairment recognized:
9.1 Part 1, Column 14.................................................................................................................................................................... 9,160,381
9.2 Part 2, Section 1, Column 17...................................................................................................................................................
9.3 Part 2, Section 2, Column 14...................................................................................................................................................
9.4 Part 4, Column 13.................................................................................................................................................................... 470,012 9,630,393
10. Book/adjusted carrying value at end of current period (Lines 1+2+3+4+5-6-7+8-9)............................................................................................................................. 45,431,741,967
11. Deduct total nonadmitted amounts.........................................................................................................................................................................................................
12. Statement value at end of current period (Line 10 minus Line 11)........................................................................................................................................................ 45,431,741,967
Annual Statement for the year 2017 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.......................... .................2,334,040,071 .................2,406,547,843 .................2,308,322,110 .................2,283,882,971
Governments (Including all obligations 2. Canada................................... ......................93,565,095 ......................97,191,890 ......................93,103,454 ......................94,000,000
guaranteed by governments) 3. Other Countries...................... ......................76,893,568 ......................81,222,001 ......................76,629,075 ......................77,000,000
4. Totals...................................... .................2,504,498,734 .................2,584,961,734 .................2,478,054,639 .................2,454,882,971U.S. States, Territories and Possessions(Direct and guaranteed) 5. Totals...................................... ....................151,045,478 ....................200,905,519 ....................151,088,291 ....................150,689,000U.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...................................... .................7,318,311,841 .................7,321,016,633 .................7,332,030,047 .................7,084,749,231
Industrial and Miscellaneous, SVO Identified 8. United States.......................... ...............27,294,365,616 ...............29,184,276,307 ...............27,339,954,840 ...............27,312,781,018
Funds and Hybrid Securities (Unaffiliated) 9. Canada................................... .................1,213,915,799 .................1,299,277,470 .................1,221,512,040 .................1,206,407,142
10. Other Countries...................... .................4,809,031,202 .................5,041,596,208 .................4,814,978,626 .................4,897,989,693
11. Totals...................................... ...............33,317,312,617 ...............35,525,149,985 ...............33,376,445,506 ...............33,417,177,853
Parent, Subsidiaries and Affiliates 12. Totals...................................... ......................................... ......................................... ......................................... .........................................
13. Total Bonds........................... ...............43,291,168,670 ...............45,632,033,871 ...............43,337,618,483 ...............43,107,499,055
PREFERRED STOCKS 14. United States.......................... ....................128,145,208 ....................256,034,389 ....................128,145,208
Industrial and Miscellaneous (Unaffiliated) 15. Canada................................... ......................................... ......................................... .........................................
16. Other Countries...................... ......................28,308,985 ......................30,349,730 ......................28,308,985
17. Totals...................................... ....................156,454,193 ....................286,384,119 ....................156,454,193
Parent, Subsidiaries and Affiliates 18. Totals...................................... ......................................... ......................................... .........................................
19. Total Preferred Stocks......... ....................156,454,193 ....................286,384,119 ....................156,454,193
COMMON STOCKS 20. United States.......................... .................1,621,273,155 .................1,621,273,155 .................1,283,038,247
Industrial and Miscellaneous (Unaffiliated) 21. Canada................................... ........................4,852,182 ........................4,852,182 ........................3,471,078
22. Other Countries...................... ......................39,460,689 ......................39,460,689 ......................37,107,606
23. Totals...................................... .................1,665,586,026 .................1,665,586,026 .................1,323,616,931
Parent, Subsidiaries and Affiliates 24. Totals...................................... ....................318,533,110 ....................318,533,110 ....................178,618,176
25. Total Common Stocks......... .................1,984,119,136 .................1,984,119,136 .................1,502,235,107
26. Total Stocks.......................... .................2,140,573,329 .................2,270,503,255 .................1,658,689,300
27. Total Bonds and Stocks...... ...............45,431,741,999 ...............47,902,537,126 ...............44,996,307,783
Annual Statement for the year 2017 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. 8 Total Total
NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.7 7 Prior Year Prior Year Publicly Traded Privately Placed (a)1. U.S. Governments
1.1 NAIC 1....................................................................................... ...........251,833,957 ...........816,803,230 ...........844,216,929 ...........251,146,146 ...........170,039,809 ..........XXX.............. ........2,334,040,071 .........................5.2 ........2,451,023,446 .........................5.6 ........2,280,395,656 .............53,644,4151.2 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........................................................................................ ...........251,833,957 ...........816,803,230 ...........844,216,929 ...........251,146,146 ...........170,039,809 ..........XXX.............. ........2,334,040,071 .........................5.2 ........2,451,023,446 .........................5.6 ........2,280,395,656 .............53,644,415
2. All Other Governments2.1 NAIC 1....................................................................................... .............96,104,857 .............95,881,459 .............54,595,583 ............................... ............................... ..........XXX.............. ...........246,581,899 .........................0.5 ...........216,326,239 .........................0.5 ...........134,494,630 ...........112,087,2692.2 NAIC 2....................................................................................... ............................... ............................... ...............9,914,960 ............................... .............10,066,661 ..........XXX.............. .............19,981,621 .........................0.0 ............................... .........................0.0 .............10,066,661 ...............9,914,9602.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................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........................................................................................ .............96,104,857 .............95,881,459 .............64,510,543 ............................0 .............10,066,661 ..........XXX.............. ...........266,563,520 .........................0.6 ...........216,326,239 .........................0.5 ...........144,561,291 ...........122,002,229
3. U.S. States, Territories and Possessions, etc., Guaranteed3.1 NAIC 1....................................................................................... .............97,435,000 ............................... ............................... .............46,362,000 ...........103,956,478 ..........XXX.............. ...........247,753,478 .........................0.6 ...........415,463,837 .........................1.0 ...........185,291,478 .............62,462,0003.2 NAIC 2....................................................................................... ............................... ..................727,000 ............................... ............................... ............................... ..........XXX.............. ..................727,000 .........................0.0 ...............1,090,000 .........................0.0 ..................727,000 ...............................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........................................................................................ .............97,435,000 ..................727,000 ............................0 .............46,362,000 ...........103,956,478 ..........XXX.............. ...........248,480,478 .........................0.6 ...........416,553,837 .........................1.0 ...........186,018,478 .............62,462,000
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....................................................................................... .............58,571,045 .............16,721,806 ...........172,860,046 ........1,819,291,388 ........5,304,438,835 ..........XXX.............. ........7,371,883,120 .......................16.4 ........7,064,345,427 .......................16.2 ........7,371,883,120 ...............................5.2 NAIC 2....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ............................... .........................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........................................................................................ .............58,571,045 .............16,721,806 ...........172,860,046 ........1,819,291,388 ........5,304,438,835 ..........XXX.............. ........7,371,883,120 .......................16.4 ........7,064,345,427 .......................16.2 ........7,371,883,120 ............................0
Annual Statement for the year 2017 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. 8 Total Total
NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.7 7 Prior Year Prior Year Publicly Traded Privately Placed (a)6. Industrial and Miscellaneous (unaffiliated)
6.1 NAIC 1....................................................................................... ........1,538,885,504 ........3,361,821,385 ........4,864,250,927 ........2,761,042,761 ........4,560,853,691 ..........XXX.............. ......17,086,854,268 .......................38.0 ......16,280,112,067 .......................37.4 ........9,948,505,853 ........7,138,348,4156.2 NAIC 2....................................................................................... ...........533,776,046 ........4,226,005,961 ........5,545,798,604 ........1,817,610,993 ........2,046,173,870 ..........XXX.............. ......14,169,365,474 .......................31.5 ......13,827,847,183 .......................31.8 ........9,500,000,479 ........4,669,364,9956.3 NAIC 3....................................................................................... .............56,732,055 ...........516,462,077 ........1,267,021,280 ...........204,662,511 ...........194,610,363 ..........XXX.............. ........2,239,488,286 .........................5.0 ........1,969,002,748 .........................4.5 ........1,392,465,425 ...........847,022,8616.4 NAIC 4....................................................................................... .............14,352,471 ...........370,614,614 ...........515,388,513 .............62,682,730 .............22,711,179 ..........XXX.............. ...........985,749,507 .........................2.2 ...........911,712,992 .........................2.1 ...........603,330,157 ...........382,419,3506.5 NAIC 5....................................................................................... - .......................... .............38,475,042 .............20,037,818 ...............6,101,848 ...................35,708 ..........XXX.............. .............64,650,416 .........................0.1 ...........102,426,823 .........................0.2 .............20,086,424 .............44,563,9926.6 NAIC 6....................................................................................... ...............2,660,354 ...............1,450,000 ............................... .....................1,541 ........................238 ..........XXX.............. ...............4,112,133 .........................0.0 ...............9,356,778 .........................0.0 ..................808,654 ...............3,303,4796.7 Totals........................................................................................ ........2,146,406,430 ........8,514,829,079 ......12,212,497,142 ........4,852,102,384 ........6,824,385,049 ..........XXX.............. ......34,550,220,084 .......................76.9 ......33,100,458,591 .......................76.1 ......21,465,196,992 ......13,085,023,092
7. Hybrid Securities7.1 NAIC 1....................................................................................... ............................... ............................... ............................... ............................... .............10,000,000 ..........XXX.............. .............10,000,000 .........................0.0 .............77,409,236 .........................0.2 .............10,000,000 ...............................7.2 NAIC 2....................................................................................... ............................... .............19,954,309 ............................... ............................... .............18,440,000 ..........XXX.............. .............38,394,309 .........................0.1 .............59,659,911 .........................0.1 ............................... .............38,394,3097.3 NAIC 3....................................................................................... ............................... ............................... ............................... ............................... ............................... ..........XXX.............. ............................0 .........................0.0 ...............4,707,601 .........................0.0 ............................... ...............................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 .............19,954,309 ............................0 ............................0 .............28,440,000 ..........XXX.............. .............48,394,309 .........................0.1 ...........141,776,748 .........................0.3 .............10,000,000 .............38,394,309
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.............. ...........106,066,150 ...........106,066,150 .........................0.2 ...........123,277,136 .........................0.3 ...........106,066,150 ...............................9.2 NAIC 2....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................9.3 NAIC 3....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................9.4 NAIC 4....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................9.5 NAIC 5....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................9.6 NAIC 6....................................................................................... ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ............................... ............................0 .........................0.0 ............................... .........................0.0 ............................... ...............................9.7 Totals........................................................................................ ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ..........XXX.............. ...........106,066,150 ...........106,066,150 .........................0.2 ...........123,277,136 .........................0.3 ...........106,066,150 ............................0
Annual Statement for the year 2017 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. 8 Total Total
NAIC Designation or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.7 7 Prior Year Prior Year Publicly Traded Privately Placed (a)10. Total Bonds Current Year
10.1 NAIC 1....................................................................................... (d)....2,042,830,363 ........4,291,227,880 ........5,935,923,485 ........4,877,842,295 ......10,149,288,813 ...........106,066,150 ......27,403,178,986 .......................61.0 ...........XXX............. ...........XXX............. ......20,036,636,887 ........7,366,542,09910.2 NAIC 2....................................................................................... (d).......533,776,046 ........4,246,687,270 ........5,555,713,564 ........1,817,610,993 ........2,074,680,531 ............................0 ......14,228,468,404 .......................31.7 ...........XXX............. ...........XXX............. ........9,510,794,140 ........4,717,674,26410.3 NAIC 3....................................................................................... (d)........56,732,055 ...........516,462,077 ........1,267,021,280 ...........204,662,511 ...........194,610,363 ............................0 ........2,239,488,286 .........................5.0 ...........XXX............. ...........XXX............. ........1,392,465,425 ...........847,022,86110.4 NAIC 4....................................................................................... (d)........14,352,471 ...........370,614,614 ...........515,388,513 .............62,682,730 .............22,711,179 ............................0 ...........985,749,507 .........................2.2 ...........XXX............. ...........XXX............. ...........603,330,157 ...........382,419,35010.5 NAIC 5....................................................................................... (d)........................0 .............38,475,042 .............20,037,818 ...............6,101,848 ...................35,708 ............................0 (c).........64,650,416 .........................0.1 ...........XXX............. ...........XXX............. .............20,086,424 .............44,563,99210.6 NAIC 6....................................................................................... (d)..........2,660,354 ...............1,450,000 ............................0 .....................1,541 ........................238 ............................0 (c)...........4,112,133 .........................0.0 ...........XXX............. ...........XXX............. ..................808,654 ...............3,303,47910.7 Totals........................................................................................ ........2,650,351,289 ........9,464,916,883 ......13,294,084,660 ........6,968,901,918 ......12,441,326,832 ...........106,066,150 (b)..44,925,647,732 .....................100.0 ...........XXX............. ...........XXX............. ......31,564,121,687 ......13,361,526,04510.8 Line 10.7 as a % of Col. 7......................................................... .........................5.9 .......................21.1 .......................29.6 .......................15.5 .......................27.7 .........................0.2 .....................100.0 ...........XXX............. ...........XXX............. ...........XXX............. .......................70.3 .......................29.7
11. Total Bonds Prior Year11.1 NAIC 1....................................................................................... ........1,920,606,167 ........4,240,198,477 ........5,514,653,299 ........4,945,551,606 ........9,883,670,703 ...........123,277,136 ...........XXX............. ...........XXX............. ......26,627,957,388 .......................61.2 ......20,374,697,089 ........6,253,260,29911.2 NAIC 2....................................................................................... ...........520,608,003 ........3,885,668,355 ........5,655,988,940 ........1,680,494,580 ........2,145,837,216 ............................... ...........XXX............. ...........XXX............. ......13,888,597,094 .......................31.9 ........9,819,571,148 ........4,069,025,94611.3 NAIC 3....................................................................................... .............25,952,397 ...........640,692,772 ...........978,250,447 ...........198,604,605 ...........130,210,128 ............................... ...........XXX............. ...........XXX............. ........1,973,710,349 .........................4.5 ........1,335,452,656 ...........638,257,69311.4 NAIC 4....................................................................................... ...............6,325,787 ...........319,155,364 ...........433,627,828 .............48,704,787 ...........103,899,226 ............................... ...........XXX............. ...........XXX............. ...........911,712,992 .........................2.1 ...........664,798,195 ...........246,914,79711.5 NAIC 5....................................................................................... ............................... .............35,775,213 .............28,651,668 .............16,969,117 .............21,030,825 ............................... ...........XXX............. ...........XXX............. (c).......102,426,823 .........................0.2 .............81,898,269 .............20,528,55411.6 NAIC 6....................................................................................... ...............2,211,212 ...............3,449,840 ............................... .....................1,241 ...............3,694,485 ............................... ...........XXX............. ...........XXX............. (c)...........9,356,778 .........................0.0 ..................457,358 ...............8,899,42011.7 Totals........................................................................................ ........2,475,703,566 ........9,124,940,021 ......12,611,172,182 ........6,890,325,936 ......12,288,342,583 ...........123,277,136 ...........XXX............. ...........XXX............. (b)..43,513,761,424 .....................100.0 ......32,276,874,715 ......11,236,886,70911.8 Line 11.7 as a % of Col. 9......................................................... .........................5.7 .......................21.0 .......................29.0 .......................15.8 .......................28.2 .........................0.3 ...........XXX............. ...........XXX............. .....................100.0 ..............XXX.......... .......................74.2 .......................25.8
12. Total Publicly Traded Bonds12.1 NAIC 1....................................................................................... ...........829,563,861 ........3,034,347,687 ........3,889,928,088 ........3,272,615,367 ........8,904,115,734 ...........106,066,150 ......20,036,636,887 .......................44.6 ......20,374,697,089 .......................46.8 ......20,036,636,887 ...........XXX.............12.2 NAIC 2....................................................................................... ...........258,546,447 ........3,157,866,669 ........3,383,198,984 ........1,154,577,831 ........1,556,604,209 ............................... ........9,510,794,140 .......................21.2 ........9,819,571,148 .......................22.6 ........9,510,794,140 ...........XXX.............12.3 NAIC 3....................................................................................... .............37,097,262 ...........341,870,579 ...........745,462,553 ...........128,466,729 ...........139,568,302 ............................... ........1,392,465,425 .........................3.1 ........1,335,452,656 .........................3.1 ........1,392,465,425 ...........XXX.............12.4 NAIC 4....................................................................................... ...............3,370,268 ...........270,514,362 ...........253,819,109 .............52,915,239 .............22,711,179 ............................... ...........603,330,157 .........................1.3 ...........664,798,195 .........................1.5 ...........603,330,157 ...........XXX.............12.5 NAIC 5....................................................................................... ............................... .............14,375,852 ...............2,984,072 ...............2,726,500 ............................... ............................... .............20,086,424 .........................0.0 .............81,898,269 .........................0.2 .............20,086,424 ...........XXX.............12.6 NAIC 6....................................................................................... ..................807,354 ............................... ............................... .....................1,300 ............................... ............................... ..................808,654 .........................0.0 ..................457,358 .........................0.0 ..................808,654 ...........XXX.............12.7 Totals........................................................................................ ........1,129,385,192 ........6,818,975,149 ........8,275,392,806 ........4,611,302,966 ......10,622,999,424 ...........106,066,150 ......31,564,121,687 .......................70.3 ......32,276,874,715 .......................74.2 ......31,564,121,687 ...........XXX.............12.8 Line 12.7 as a % of Col. 7......................................................... .........................3.6 .......................21.6 .......................26.2 .......................14.6 .......................33.7 .........................0.3 .....................100.0 ...........XXX............. ...........XXX............. ...........XXX............. .....................100.0 ...........XXX.............12.9 Line 12.7 as a % of Line 10.7, Col. 7, Section 10....................... .........................2.5 .......................15.2 .......................18.4 .......................10.3 .......................23.6 .........................0.2 .......................70.3 ...........XXX............. ...........XXX............. ...........XXX............. .......................70.3 ...........XXX.............
13. Total Privately Placed Bonds13.1 NAIC 1....................................................................................... ........1,213,266,502 ........1,256,880,193 ........2,045,995,397 ........1,605,226,928 ........1,245,173,079 ............................... ........7,366,542,099 .......................16.4 ........6,253,260,299 .......................14.4 ...........XXX............. ........7,366,542,09913.2 NAIC 2....................................................................................... ...........275,229,599 ........1,088,820,601 ........2,172,514,580 ...........663,033,162 ...........518,076,322 ............................... ........4,717,674,264 .......................10.5 ........4,069,025,946 .........................9.4 ...........XXX............. ........4,717,674,26413.3 NAIC 3....................................................................................... .............19,634,793 ...........174,591,498 ...........521,558,727 .............76,195,782 .............55,042,061 ............................... ...........847,022,861 .........................1.9 ...........638,257,693 .........................1.5 ...........XXX............. ...........847,022,86113.4 NAIC 4....................................................................................... .............10,982,203 ...........100,100,252 ...........261,569,404 ...............9,767,491 ............................... ............................... ...........382,419,350 .........................0.9 ...........246,914,797 .........................0.6 ...........XXX............. ...........382,419,35013.5 NAIC 5....................................................................................... ............................... .............24,099,190 .............17,053,746 ...............3,375,348 ...................35,708 ............................... .............44,563,992 .........................0.1 .............20,528,554 .........................0.0 ...........XXX............. .............44,563,99213.6 NAIC 6....................................................................................... ...............1,853,000 ...............1,450,000 ............................... ........................241 ........................238 ............................... ...............3,303,479 .........................0.0 ...............8,899,420 .........................0.0 ...........XXX............. ...............3,303,47913.7 Totals........................................................................................ ........1,520,966,097 ........2,645,941,734 ........5,018,691,854 ........2,357,598,952 ........1,818,327,408 ............................0 ......13,361,526,045 .......................29.7 ......11,236,886,709 .......................25.8 ...........XXX............. ......13,361,526,04513.8 Line 13.7 as a % of Col. 7......................................................... .......................11.4 .......................19.8 .......................37.6 .......................17.6 .......................13.6 .........................0.0 .....................100.0 ...........XXX............. ...........XXX............. ...........XXX............. ...........XXX............. .....................100.013.9 Line 13.7 as a % of Line 10.7, Col. 7, Section 10....................... .........................3.4 .........................5.9 .......................11.2 .........................5.2 .........................4.0 .........................0.0 .......................29.7 ...........XXX............. ...........XXX............. ...........XXX............. ...........XXX............. .......................29.7
(a) Includes $..........0 freely tradable under SEC Rule 144 or qualified for resale under SEC Rule 144A.(b) Includes $..........0 current year, $.....377,986,276 prior year of bonds with Z designations and $..........0 current year, $.....1,911,500 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, $..........0 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 $.....1,391,973,368; NAIC 2 $.....131,501,205; NAIC 3 $.....4,938,344; NAIC 4 $..........0; NAIC 5 $..........0; NAIC 6 $..........0.
Annual Statement for the year 2017 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. 8 Total Total
Distribution by Type or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.6 7 Prior Year Prior Year Publicly Traded Privately Placed1. U.S. Governments
1.1 Issuer Obligations.................................................................................. ..........251,833,957 ..........816,794,125 ..........844,070,207 ..........239,994,195 ..........150,914,272 ..........XXX............. .......2,303,606,756 ........................5.1 .......2,412,193,727 ........................5.5 .......2,249,962,341 ............53,644,4151.2 Residential Mortgage-Backed Securities............................................... .............................. ....................9,105 .................146,722 ............11,151,951 ............19,125,537 ..........XXX............. ............30,433,315 ........................0.1 ............38,829,719 ........................0.1 ............30,433,315 ..............................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.................................................................................................... ..........251,833,957 ..........816,803,230 ..........844,216,929 ..........251,146,146 ..........170,039,809 ..........XXX............. .......2,334,040,071 ........................5.2 .......2,451,023,446 ........................5.6 .......2,280,395,656 ............53,644,415
2. All Other Governments2.1 Issuer Obligations.................................................................................. ............96,104,857 ............95,881,459 ............64,510,543 .............................. ............10,066,661 ..........XXX............. ..........266,563,520 ........................0.6 ..........216,326,239 ........................0.5 ..........144,561,291 ..........122,002,2292.2 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.................................................................................................... ............96,104,857 ............95,881,459 ............64,510,543 ...........................0 ............10,066,661 ..........XXX............. ..........266,563,520 ........................0.6 ..........216,326,239 ........................0.5 ..........144,561,291 ..........122,002,229
3. U.S. States, Territories and Possessions, Guaranteed3.1 Issuer Obligations.................................................................................. ............97,435,000 .................727,000 .............................. ............46,362,000 ..........103,956,478 ..........XXX............. ..........248,480,478 ........................0.6 ..........416,553,837 ........................1.0 ..........186,018,478 ............62,462,0003.2 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.................................................................................................... ............97,435,000 .................727,000 ...........................0 ............46,362,000 ..........103,956,478 ..........XXX............. ..........248,480,478 ........................0.6 ..........416,553,837 ........................1.0 ..........186,018,478 ............62,462,000
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.................................................................................. ............58,571,045 ............13,799,135 ..............9,992,858 .............................. ..............4,456,891 ..........XXX............. ............86,819,929 ........................0.2 ..........137,919,413 ........................0.3 ............86,819,929 ..............................5.2 Residential Mortgage-Backed Securities............................................... .............................. ..............1,121,454 ............60,224,551 .......1,819,291,388 .......5,207,818,105 ..........XXX............. .......7,088,455,498 ......................15.8 .......6,908,659,367 ......................15.9 .......7,088,455,498 ..............................5.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. ..........102,642,637 .............................. ............92,163,839 ..........XXX............. ..........194,806,476 ........................0.4 ............15,599,751 ........................0.0 ..........194,806,476 ..............................5.4 Other Loan-Backed and Structured Securities....................................... .............................. ..............1,801,217 .............................. .............................. .............................. ..........XXX............. ..............1,801,217 ........................0.0 ..............2,166,896 ........................0.0 ..............1,801,217 ..............................5.5 Totals.................................................................................................... ............58,571,045 ............16,721,806 ..........172,860,046 .......1,819,291,388 .......5,304,438,835 ..........XXX............. .......7,371,883,120 ......................16.4 .......7,064,345,427 ......................16.2 .......7,371,883,120 ...........................0
6. Industrial and Miscellaneous (unaffiliated)6.1 Issuer Obligations.................................................................................. .......2,131,143,467 .......8,116,995,970 .....12,030,521,718 .......4,394,213,973 .......5,031,190,992 ..........XXX............. .....31,704,066,120 ......................70.6 .....30,099,491,604 ......................69.2 .....19,106,804,662 .....12,597,261,4586.2 Residential Mortgage-Backed Securities............................................... .................638,048 ..............8,700,347 .............................. ..........282,100,326 .......................238 ..........XXX............. ..........291,438,959 ........................0.6 ..........382,112,841 ........................0.9 ..........290,856,460 .................582,4996.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. ............13,089,544 ............27,453,443 .......1,758,661,329 ..........XXX............. .......1,799,204,316 ........................4.0 .......1,844,778,799 ........................4.2 .......1,758,661,329 ............40,542,9876.4 Other Loan-Backed and Structured Securities....................................... ............14,624,915 ..........389,132,762 ..........168,885,880 ..........148,334,642 ............34,532,490 ..........XXX............. ..........755,510,689 ........................1.7 ..........774,075,347 ........................1.8 ..........308,874,541 ..........446,636,1486.5 Totals.................................................................................................... .......2,146,406,430 .......8,514,829,079 .....12,212,497,142 .......4,852,102,384 .......6,824,385,049 ..........XXX............. .....34,550,220,084 ......................76.9 .....33,100,458,591 ......................76.1 .....21,465,196,992 .....13,085,023,092
7. Hybrid Securities7.1 Issuer Obligations.................................................................................. .............................. ............19,954,309 .............................. .............................. ............18,440,000 ..........XXX............. ............38,394,309 ........................0.1 ..........105,791,108 ........................0.2 .............................. ............38,394,3097.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .............................. ............10,000,000 ..........XXX............. ............10,000,000 ........................0.0 .............................. ........................0.0 ............10,000,000 ..............................7.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 .............................. ........................0.0 .............................. ..............................7.4 Other Loan-Backed and Structured Securities....................................... .............................. .............................. .............................. .............................. .............................. ..........XXX............. ...........................0 ........................0.0 ............35,985,640 ........................0.1 .............................. ..............................7.5 Totals.................................................................................................... ...........................0 ............19,954,309 ...........................0 ...........................0 ............28,440,000 ..........XXX............. ............48,394,309 ........................0.1 ..........141,776,748 ........................0.3 ............10,000,000 ............38,394,309
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 2017 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. 8 Total Total
Distribution by Type or Less Through 5 Years Through 10 Years Through 20 Years Years Date Current Year % of Line 10.6 7 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 .............................. ........................0.0 .............................. ..............................9.2 Bond Mutual Funds Identified by the SVO............................................. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........106,066,150 ..........106,066,150 ........................0.2 ..........123,277,136 ........................0.3 ..........106,066,150 ..............................9.3 Totals.................................................................................................... ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........106,066,150 ..........106,066,150 ........................0.2 ..........123,277,136 ........................0.3 ..........106,066,150 ...........................0
10. Total Bonds Current Year10.1 Issuer Obligations.................................................................................. .......2,635,088,326 .......9,064,151,998 .....12,949,095,326 .......4,680,570,168 .......5,319,025,294 ..........XXX............. .....34,647,931,112 ......................77.1 ...........XXX............ ...........XXX............ .....21,774,166,701 .....12,873,764,41110.2 Residential Mortgage-Backed Securities............................................... .................638,048 ..............9,830,906 ............60,371,273 .......2,112,543,665 .......5,236,943,880 ..........XXX............. .......7,420,327,772 ......................16.5 ...........XXX............ ...........XXX............ .......7,419,745,273 .................582,49910.3 Commercial Mortgage-Backed Securities.............................................. ...........................0 ...........................0 ..........115,732,181 ............27,453,443 .......1,850,825,168 ..........XXX............. .......1,994,010,792 ........................4.4 ...........XXX............ ...........XXX............ .......1,953,467,805 ............40,542,98710.4 Other Loan-Backed and Structured Securities....................................... ............14,624,915 ..........390,933,979 ..........168,885,880 ..........148,334,642 ............34,532,490 ..........XXX............. ..........757,311,906 ........................1.7 ...........XXX............ ...........XXX............ ..........310,675,758 ..........446,636,14810.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........106,066,150 ..........106,066,150 ........................0.2 ...........XXX............ ...........XXX............ ..........106,066,150 ...........................010.6 Totals.................................................................................................... .......2,650,351,289 .......9,464,916,883 .....13,294,084,660 .......6,968,901,918 .....12,441,326,832 ..........106,066,150 .....44,925,647,732 ....................100.0 ...........XXX............ ...........XXX............ .....31,564,121,687 .....13,361,526,04510.7 Line 10.6 as a % of Col. 7..................................................................... ........................5.9 ......................21.1 ......................29.6 ......................15.5 ......................27.7 ........................0.2 ....................100.0 ..............XXX......... ...........XXX............ ...........XXX............ ......................70.3 ......................29.7
11. Total Bonds Prior Year11.1 Issuer Obligations.................................................................................. .......2,472,146,489 .......8,737,231,882 .....12,355,921,586 .......4,454,555,801 .......5,368,420,170 ..........XXX............. ...........XXX............ ...........XXX............ .....33,388,275,928 ......................76.7 .....22,633,854,667 .....10,754,421,26111.2 Residential Mortgage-Backed Securities............................................... .................139,636 ............21,519,804 ............36,657,292 .......2,267,518,180 .......5,003,767,015 ..........XXX............. ...........XXX............ ...........XXX............ .......7,329,601,927 ......................16.8 .......7,328,753,994 .................847,93311.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. .............................. ............17,284,794 .......1,843,093,756 ..........XXX............. ...........XXX............ ...........XXX............ .......1,860,378,550 ........................4.3 .......1,842,171,243 ............18,207,30711.4 Other Loan-Backed and Structured Securities....................................... ..............3,417,441 ..........366,188,335 ..........218,593,304 ..........150,967,161 ............73,061,642 ..........XXX............. ...........XXX............ ...........XXX............ ..........812,227,883 ........................1.9 ..........348,817,675 ..........463,410,20811.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........123,277,136 ...........XXX............ ...........XXX............ ..........123,277,136 ........................0.3 ..........123,277,136 ..............................11.6 Totals.................................................................................................... .......2,475,703,566 .......9,124,940,021 .....12,611,172,182 .......6,890,325,936 .....12,288,342,583 ..........123,277,136 ...........XXX............ ...........XXX............ .....43,513,761,424 ....................100.0 .....32,276,874,715 .....11,236,886,70911.7 Line 11.6 as a % of Col. 9..................................................................... ........................5.7 ......................21.0 ......................29.0 ......................15.8 ......................28.2 ........................0.3 ...........XXX............ ...........XXX............ ....................100.0 ..............XXX......... ......................74.2 ......................25.8
12. Total Publicly Traded Bonds12.1 Issuer Obligations.................................................................................. .......1,202,736,041 .......6,549,755,415 .......8,060,986,355 .......2,431,983,057 .......3,528,705,833 ..........XXX............. .....21,774,166,701 ......................48.5 .....22,633,854,667 ......................52.0 .....21,774,166,701 ...........XXX............12.2 Residential Mortgage-Backed Securities............................................... .................638,048 ..............9,830,906 ............60,371,273 .......2,111,961,404 .......5,226,943,642 ..........XXX............. .......7,409,745,273 ......................16.5 .......7,328,753,994 ......................16.8 .......7,409,745,273 ...........XXX............12.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. ..........102,642,637 .............................. .......1,850,825,168 ..........XXX............. .......1,953,467,805 ........................4.3 .......1,842,171,243 ........................4.2 .......1,953,467,805 ...........XXX............12.4 Other Loan-Backed and Structured Securities....................................... ..............2,419,685 ..........182,980,246 ............51,392,541 ............67,358,505 ............16,524,781 ..........XXX............. ..........320,675,758 ........................0.7 ..........348,817,675 ........................0.8 ..........320,675,758 ...........XXX............12.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........106,066,150 ..........106,066,150 ........................0.2 ..........123,277,136 ........................0.3 ..........106,066,150 ...........XXX............12.6 Totals.................................................................................................... .......1,205,793,774 .......6,742,566,567 .......8,275,392,806 .......4,611,302,966 .....10,622,999,424 ..........106,066,150 .....31,564,121,687 ......................70.3 .....32,276,874,715 ......................74.2 .....31,564,121,687 ...........XXX............12.7 Line 12.6 as a % of Col. 7..................................................................... ........................3.8 ......................21.4 ......................26.2 ......................14.6 ......................33.7 ........................0.3 ....................100.0 ...........XXX............ ...........XXX............ ...........XXX............ ....................100.0 ...........XXX............12.8 Line 12.6 as a % of Line 10.6, Col. 7, Section 10.................................. ........................2.7 ......................15.0 ......................18.4 ......................10.3 ......................23.6 ........................0.2 ......................70.3 ...........XXX............ ...........XXX............ ...........XXX............ ......................70.3 ...........XXX............
13. Total Privately Placed Bonds13.1 Issuer Obligations.................................................................................. .......1,508,760,867 .......2,437,988,001 .......4,888,108,971 .......2,248,587,111 .......1,790,319,461 ..........XXX............. .....12,873,764,411 ......................28.7 .....10,754,421,261 ......................24.7 ...........XXX............ .....12,873,764,41113.2 Residential Mortgage-Backed Securities............................................... .............................. .............................. .............................. .................582,261 .......................238 ..........XXX............. .................582,499 ........................0.0 .................847,933 ........................0.0 ...........XXX............ .................582,49913.3 Commercial Mortgage-Backed Securities.............................................. .............................. .............................. ............13,089,544 ............27,453,443 .............................. ..........XXX............. ............40,542,987 ........................0.1 ............18,207,307 ........................0.0 ...........XXX............ ............40,542,98713.4 Other Loan-Backed and Structured Securities....................................... ............12,205,230 ..........207,953,733 ..........117,493,339 ............80,976,137 ............28,007,709 ..........XXX............. ..........446,636,148 ........................1.0 ..........463,410,208 ........................1.1 ...........XXX............ ..........446,636,14813.5 SVO Identified Funds............................................................................ ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. ..........XXX............. .............................. ...........................0 ........................0.0 ...........................0 ........................0.0 ...........XXX............ ...........................013.6 Totals.................................................................................................... .......1,520,966,097 .......2,645,941,734 .......5,018,691,854 .......2,357,598,952 .......1,818,327,408 ...........................0 .....13,361,526,045 ......................29.7 .....11,236,886,709 ......................25.8 ...........XXX............ .....13,361,526,04513.7 Line 13.6 as a % of Col. 7..................................................................... ......................11.4 ......................19.8 ......................37.6 ......................17.6 ......................13.6 ........................0.0 ....................100.0 ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............ ....................100.013.8 Line 13.6 as a % of Line 10.6, Col. 7, Section 10.................................. ........................3.4 ........................5.9 ......................11.2 ........................5.2 ........................4.0 ........................0.0 ......................29.7 ...........XXX............ ...........XXX............ ...........XXX............ ...........XXX............ ......................29.7
Annual Statement for the year 2017 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.................................................................................. .............................................348,209,756 .............................................224,932,620 ................................................................. .............................................123,277,136 .................................................................
2. Cost of short-term investments acquired........................................................................................................... ..........................................2,073,456,374 ..........................................2,073,456,374 ................................................................. ................................................................. .................................................................
3. Accrual of discount............................................................................................................................................ ................................................1,682,679 ................................................1,682,679 ................................................................. ................................................................. .................................................................
4. Unrealized valuation increase (decrease).......................................................................................................... ..............................................................0 ................................................................. ................................................................. ................................................................. .................................................................
5. Total gain (loss) on disposals............................................................................................................................ ................................................2,008,057 ................................................2,008,057 ................................................................. ................................................................. .................................................................
6. Deduct consideration received on disposals...................................................................................................... ..........................................2,283,885,291 ..........................................2,160,608,155 ................................................................. .............................................123,277,136 .................................................................
7. Deduct amortization of premium........................................................................................................................ ................................................2,592,134 ................................................2,592,134 ................................................................. ................................................................. .................................................................
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)............................................ .............................................138,879,441 .............................................138,879,441 ..............................................................0 ..............................................................0 ..............................................................0
11. Deduct total nonadmitted amounts.................................................................................................................... ..............................................................0 ................................................................. ................................................................. ................................................................. .................................................................
12. Statement value at end of current period (Line 10 minus Line 11)..................................................................... .............................................138,879,441 .............................................138,879,441 ..............................................................0 ..............................................................0 ..............................................................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 2017 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)......................................................................................................................................... 23,275,051
2. Cost paid/(consideration received) on additions:2.1 Current year paid/(consideration received) at time of acquisition, still open, Section 1, Column 12.................................................. 8,191,9112.2 Current year paid/(consideration received) at time of acquisition, terminated, Section 2, Column 14............................................... (8,212,892) (20,981)
3. Unrealized valuation increase/(decrease):3.1 Section 1, Column 17......................................................................................................................................................................... 3,343,4273.2 Section 2, Column 19......................................................................................................................................................................... (675,675) 2,667,752
4. Total gain (loss) on termination recognized, Section 2, Column 22........................................................................................................................................................ 7,299,890
5. Considerations received/(paid) on terminations, Section 2, Column 15.................................................................................................................................................. 6,798,571
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......................................................................................................................................................................... 4,615,235 4,615,235
8. Total foreign exchange change in Book/Adjusted Carrying Value:8.1 Section 1, Column 18......................................................................................................................................................................... (36,766,372)8.2 Section 2, Column 20......................................................................................................................................................................... (36,766,372)
9. Book/Adjusted Carrying Value at end of current period (Lines 1 + 2 + 3 + 4 - 5 + 6 + 7 + 8)................................................................................................................. (5,727,996)
10. Deduct nonadmitted assets.....................................................................................................................................................................................................................
11. Statement value at end of current period (Line 9 minus Line 10)............................................................................................................................................................ (5,727,996)
SCHEDULE DB - PART B - VERIFICATION BETWEEN YEARSFutures Contracts
1. Book/Adjusted Carrying Value, December 31, prior year (Line 6 prior year).......................................................................................................................................... 15,549
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................................................... (3,748,862)3.12 Section 1, Column 15, prior year.................................................................. (339,415) (3,409,447)
Change in the valuation margin on open contracts - all other:3.13 Section 1, Column 18, current year minus................................................... 1,231,9753.14 Section 1, Column 18, prior year.................................................................. (527,759) 1,759,735 (1,649,713)
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....................................... (2,523,987)3.24 Section 1, Column 19, prior year.................................................................. (867,174) (1,656,813) (1,656,813)
3.3 Subtotal (Line 3.1 minus Line 3.2)........................................................................................................................................................................................................... 7,100
4.1 Cumulative variation margin on terminated contracts during the year (Section 2, Column 15)........................ (40,573,177)
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)................................................. (40,588,726) (40,588,726)
4.3 Subtotal (Line 4.1 minus Line 4.2)........................................................................................................................................................................................................... 15,549
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)................................................................................................................... 7,101
7. Deduct nonadmitted assets.....................................................................................................................................................................................................................
8. Statement value at end of current period (Line 6 minus Line 7).............................................................................................................................................................. 7,101
Annual Statement for the year 2017 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 2017 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................................................................................................................................................................... (5,727,995)
2. Part B, Section 1, Column 15 plus Part B, Section 1 Footnote-Total Ending Cash Balance................................................................... (3,748,862)
3. Total (Line 1 plus Line 2)....................................................................................................................................................................................................................... (9,476,857)
4. Part D, Section 1, Column 5.................................................................................................................................................................... 47,423,796
5. Part D, Section 1, Column 6.................................................................................................................................................................... (53,144,686)
6. Total (Line 3 minus Line 4 minus Line 5).................................................................................................................................................................................................. (3,755,967)
Fair Value Check
7. Part A, Section 1, Column 16................................................................................................................................................................... (5,933,685)
8. Part B, Section 1, Column 13................................................................................................................................................................... 1,151,553
9. Total (Line 7 plus Line 8)........................................................................................................................................................................................................................... (4,782,132)
10. Part D, Section 1, Column 8.................................................................................................................................................................... 47,416,721
11. Part D, Section 1, Column 9.................................................................................................................................................................... (53,144,686)
12. Total (Line 9 minus Line 10 minus Line 11).............................................................................................................................................................................................. 945,833
Potential Exposure Check
13. Part A, Section 1, Column 21................................................................................................................................................................... 6,251,047
14. Part B, Section 1, Column 20...................................................................................................................................................................
15. Part D, Section 1, Column 11.................................................................................................................................................................. 5,988,160
16. Total (Line 13 plus Line 14 minus Line 15)............................................................................................................................................................................................... 262,887
Annual Statement for the year 2017 of the Thrivent Financial for Lutherans
SI15
SCHEDULE E - PART 2 - VERIFICATION BETWEEN YEARSCash Equivalents
1 2 3 4Total Bonds Money Market Mutual Funds Other (a)
1. Book/adjusted carrying value, December 31 of prior year....................................................................................................... ...................................................1,419,105,532 ...................................................1,419,105,532 ........................................................................... ...........................................................................
2. Cost of cash equivalents acquired........................................................................................................................................... .................................................38,900,432,740 .................................................38,794,366,590 ......................................................106,066,150 ...........................................................................
3. Accrual of discount.................................................................................................................................................................. ........................................................15,787,068 ........................................................15,787,068 ........................................................................... ...........................................................................
4. Unrealized valuation increase (decrease)............................................................................................................................... ........................................................................0 ........................................................................... ........................................................................... ...........................................................................
5. Total gain (loss) on disposals.................................................................................................................................................. .................................................................4,181 .................................................................4,181 ........................................................................... ...........................................................................
6. Deduct consideration received on disposals........................................................................................................................... .................................................38,839,182,635 .................................................38,839,182,635 ........................................................................... ...........................................................................
7. Deduct amortization of premium.............................................................................................................................................. .............................................................547,261 .............................................................547,261 ........................................................................... ...........................................................................
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)............................................................... ...................................................1,495,599,625 ...................................................1,389,533,475 ......................................................106,066,150 ........................................................................0
11. Deduct total nonadmitted amounts.......................................................................................................................................... ........................................................................0 ........................................................................... ........................................................................... ...........................................................................
12. Statement value at end of current period (Line 10 minus Line 11).......................................................................................... ...................................................1,495,599,625 ...................................................1,389,533,475 ......................................................106,066,150 ........................................................................0
(a) Indicate the category of such investments, for example, joint ventures, transportation equipment:.......................................
INDEX
2017 ALPHABETICAL INDEXFRATERNAL ANNUAL STATEMENT BLANK
Analysis of Increase in Reserves During The Year 7 Schedule D – Part 2 – Section 1 E11Analysis of Operations By Lines of Business 6 Schedule D – Part 2 – Section 2 E12Asset Valuation Reserve (Replications (Synthetic) Assets 32 Schedule D – Part 3 E13Asset Valuation Reserve Default Component 27 Schedule D – Part 4 E14Asset Valuation Reserve Equity Component 29 Schedule D – Part 5 E15Asset Valuation Reserve 26 Schedule D – Part 6 – Section 1 E16Assets 2 Schedule D – Part 6 – Section 2 E16Cash Flow 5 Schedule D – Summary By Country SI04Exhibit 1 – Part 1 – Premiums and Annuity Considerations for Life andAccident and Health Contracts 9
Schedule D – Verification Between Years SI03
Exhibit 1 – Part 2 – Refunds Applied, Reinsurance Commissions andExpense 10
Schedule DA – Part 1 E17
Exhibit 2 – General Expenses 11 Schedule DA – Part 2 – Verification Between Years SI10Exhibit 3 – Taxes, Licenses and Fees 11 Schedule DB – Part A – Section 1 E18Exhibit 4 – Dividends 11 Schedule DB – Part A – Section 2 E19Exhibit 5 – Aggregate Reserve for Life Contracts 12 Schedule DB – Part A – Verification Between Years SI11Exhibit 5 – Interrogatories 13 Schedule DB – Part B – Section 1 E20Exhibit 5A – Changes in Bases of Valuation During The Year 13 Schedule DB – Part B – Section 2 E21Exhibit 6 – Aggregate Reserves for Accident and Health Contracts 14 Schedule DB – Part B – Verification Between Years SI11Exhibit 7 – Deposit-Type Contracts 14 Schedule DB – Part C – Section 1 SI12Exhibit 8 – Claims for Life and Accident and Health Contracts - Part 1 15 Schedule DB – Part C – Section 2 SI13Exhibit 8 – Claims for Life and Accident and Health Contracts - Part 2 16 Schedule DB – Part D – Section 1 E22Exhibit of Capital Gains (Losses) 8 Schedule DB – Part D – Section 2 E23Exhibit of Life Insurance 24 Schedule DB – Verification SI14Exhibit of Net Investment Income 8 Schedule DL – Part 1 E24Exhibit of Nonadmitted Assets 17 Schedule DL – Part 2 E25Exhibit of Number of Certificates for Supplementary Contracts, Annuitiesand Accident and Health Insurance 24
Schedule E – Part 1 – Cash E26
Five-Year Historical Data 21 Schedule E – Part 2 – Cash Equivalents E27Form for Calculating the Interest Maintenance Reserve (IMR) 25 Schedule E – Part 3 – Special Deposits E28General Interrogatories 19 Schedule E – Verification Between Years SI15Jurat Page 1 Schedule F 33Liabilities, Surplus and Other Funds 3 Schedule H – Accident and Health Exhibit – Part 1 34Life Insurance (State Page) 23 Schedule H – Part 5 – Health Claims 36Notes To Financial Statements 18 Schedule H – Parts – 2, 3, and 4 35Overflow Page For Write-Ins 52 Schedule S – Part 1 – Section 1 37Schedule A – Part 1 E01 Schedule S – Part 1 – Section 2 38Schedule A – Part 2 E02 Schedule S – Part 2 39Schedule A – Part 3 E03 Schedule S – Part 3 – Section 1 40Schedule A – Verification Between Years SI02 Schedule S – Part 3 – Section 2 41Schedule B – Part 1 E04 Schedule S – Part 4 42Schedule B – Part 2 E05 Schedule S – Part 5 43Schedule B –Part 3 E06 Schedule S – Part 6 44Schedule B – Verification Between Years SI02 Schedule S – Part 7 45Schedule BA – Part 1 E07 Schedule T – Part 2 – Interstate Compact 46Schedule BA – Part 2 E08 Schedule T – Premiums and Annuity Considerations 47Schedule BA –Part 3 E09 Schedule Y – Information Concerning Activities of Insurer Members of
a Holding Company Group48
Schedule BA – Verification Between Years SI03 Schedule Y – Part 1A – Detail of Insurance Holding Company System 49Schedule D – Part 1 E10 Schedule Y – Part 2 – Summary of Insurer’s Transactions With Any
Affiliates50
Schedule D – Part 1A – Section 1 SI05 Summary Investment Schedule SI01Schedule D – Part 1A – Section 2 SI08 Summary of Operations 4
Supplemental Exhibits and Schedules Interrogatories 51