CINCINNATI, May 13, 2024
/PRNewswire/ -- 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.
"The positive outlook is driven by an
improving company profile as a result of the company's
strategy"
"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
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.
Contact: Lisa Doxsee,
APR
513.794.6418 (o); 513.218.5519 (m)
Lisa_Doxsee@constellationinsurance.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/fitch-affirms-a--rating-and-revises-outlook-to-positive-for-constellation-insurance-inc-302143531.html
SOURCE Constellation Insurance, Inc.