Fitch affirms A- rating and revises outlook to positive for Constellation Insurance, Inc.
May 14, 2024 by Constellation Insurance Inc.
Constellation Insurance, Inc., announced today Fitch Ratings has affirmed its ‘A-‘ Insurer Financial Strength (IFS) rating for AuguStarSM Life Insurance Company, AuguStarSM Life Assurance Corporation and National Security Life and Annuity Co., and has revised the outlook to positive from stable.
“We are pleased that Fitch has recognized the continued successful execution of our enterprise strategic plan with a positive outlook,” says Anurag Chandra, Constellation founder, chairman and CEO.
In the release Fitch remarked “The formation of AuguStar Financial aligns with the company’s enterprise growth strategy to create market leading life and annuity businesses offering a broad array of products distributed through institutional channels and independent marketing organizations.” Fitch also stated, “The positive outlook is driven by an improving company profile as a result of the company’s strategy to execute on management changes and improve distribution as well as strengthen the product portfolio, which is also expected to improve financial performance.”
About Constellation Insurance, Inc.
Constellation Insurance, Inc., is a leading insurance holding company serving consumers and small business owners in United States and Latin America through its insurance subsidiaries, which include AuguStarSM Life Insurance Company, AuguStarSM Life Assurance Corporation, National Security Life and Annuity Company, Ohio National Seguros de Vida and certain other affiliated (re)insurance entities. Constellation’s investors and equal partners, CDPQ and Ontario Teachers’, are two of the largest long-term institutional investors in North America.
