Acquisition will ensure Newman’s legacy of service and quality and allow Thrivent members to benefit from Newman’s expertise and exposure
MINNEAPOLIS (March 30, 2015) – Thrivent Financial announced today it is acquiring Newman Long Term Care. The purchase agreement was signed on March 20 and the transaction should be complete this summer. With similar values and reputations for service, Thrivent and Newman Long Term Care (NLTC) will join to train and maintain the next generation of insurance specialists and help many more Americans plan for their long term care needs.
The acquisition will allow Thrivent, its financial representatives and its members to leverage and learn from the decades of experience that NLTC CEO Deb Newman and her organization, have in the industry. The agreement is designed to keep NLTC as an autonomous subsidiary of Thrivent Financial. Thrivent financial representatives will benefit from additional support, skill and expertise to help more members develop long-term care plans. NLTC will continue to operate out of its Richfield, Minn. offices offering a wide variety of long term care products through its longstanding relationships with independent agents, brokers, and other organizations.
“Newman Long Term Care has a storied history of success,” said Knut Olson, senior vice president of Mission Advancement at Thrivent. “Thrivent has always had the utmost respect and admiration for Deb Newman and her organization and we’re excited to leverage their expertise and technology as we continue to help our members be wise with money and live generously.”
“This is a dream scenario for our organization,” said Deb Newman, CEO at Newman Long Term Care. “With the financial backing and resources of Thrivent, our current team can ensure our customers and agents will continue to receive the service and expertise we’ve prided ourselves on for the past 25 years well into the future.”
Thrivent will acquire NLTC through a subsidiary, Thrivent Insurance Agency, Inc. The relationship between Thrivent Financial and NLTC dates back to 2014 when they entered into an agreement to bring Thrivent’s long term care product to the independent brokerage market.
About Thrivent Financial
Thrivent Financial is a financial services organization that helps Christians be wise with money and live generously. As a membership organization, it offers its nearly 2.4 million member-owners a broad range of products, services and guidance from financial representatives nationwide. For more than a century it has helped members make wise money choices that reflect their values while providing them opportunities to demonstrate their generosity where they live, work and worship. For more information, visit Thrivent.com. You can also find us on Facebook and Twitter.
About Deb Newman
Newman Long Term Care Founded in 1990, Newman Long Term Care has focused exclusively on long‐term care insurance for more than two decades. Based in Richfield, Minn., the firm is a national leader in the industry and currently sells long‐term care insurance in all 50 states. In 2009, Deb Newman was acknowledged by the Minneapolis/St. Paul Business Journal as one of the top 25 Women in Business. In 2007, Newman was recognized nationally as one of the top ten on the Power List of Who’s Who in Long Term Care Insurance. Most recently, she was named to the Hot 100 in Insurance List by Insurance Business America. She has shared her insights on long term care planning with consumers on WCCO radio and MPR, as well as in the Wall Street Journal, USA Today, the Star Tribune and Forbes. A pioneer in the insurance business, Deb has held leadership positions in many insurance industry groups, including:
- Past Chair for the Board of Directors, Life & Health Insurance Foundation for Education (LIFE)
- Past President, National Association of Insurance and Financial Advisors (NAIFA) – Minnesota
- Past National President, Association of Health Insurance Advisors (AHIA)
For more information about Deb Newman and Newman Long Term Care, visit www.NewmanLongTermCare.com.
Insurance products issued or offered by Thrivent Financial, the marketing name for Thrivent Financial for Lutherans, Appleton, WI. Not all products are available in all states. Securities and investment advisory services are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415, a FINRA and SIPC member and a wholly owned subsidiary of Thrivent. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc. They are also licensed insurance agents/producers of Thrivent. For additional important information, visit Thrivent.com/disclosures. If requested, a Thrivent Financial representative may contact you and financial solutions, including insurance, may be solicited.