AuguStar Life
S&P assigns Constellation’s core insurance subsidiary a financial strength rating of ‘A-’
Cincinnati, OH / July 15, 2026
Constellation Insurance, Inc., announces today that S&P Global Ratings has assigned a financial strength rating to its core operating subsidiary, AuguStar® Life Insurance Company of ‘A-‘ with a stable outlook and has assigned an issuer credit rating on the holding company, Constellation Insurance Inc. of ‘BBB-‘ with a stable outlook.
“S&P’s recognition of our strategic transformation into a well-capitalized, broadly-diversified financial services business reflects our strong growth momentum and is a further testament to the strength of our business and financial profile.” said Anurag Chandra, Constellation founder, chairman and chief executive officer.
S&P’s rating action highlighted “Constellation’s enhanced business profile and earnings diversity outside of its legacy businesses (variable annuities as well as whole life and term life), driven by top-line expansion and channel diversification, while also maintaining capital in excess of required capital at the 99.99% confidence level.” Additionally, S&P noted “Constellation has built a new management team, reinitiated and revamped its products, expanded distribution partnerships, and refreshed infrastructure that has helped it grow.”
S&P “A-“ rating is its seventh-highest ranking on a 22-part scale.
About Constellation
Constellation is a diversified financial services group offering insurance, reinsurance, asset management and institutional markets solutions through AuguStar Retirement, AuguStar Life, AuguStar Seguros, Constellation Investments, Constellation Re and Constellation Institutional Markets. Constellation’s investors and equal partners, La Caisse and Ontario Teachers’, are two of the largest long-term institutional investors in North America.
Products issued by AuguStar Life Insurance Company, member of Constellation Insurance, Inc. family of companies, in all states except New York. Products issued in New York by National Security Life and Annuity Company.
Ratings: AM Best Company: “A,” its third-highest ranking out of 16 categories. Fitch: “A,“ its sixth-highest ranking on a 19-part scale. Moody’s: “Baa1,” its eighth-highest ranking on a 21-part scale. All ratings information is according to reports published on: ambest.com/ratings, fitchratings.com, and moodys.com/insurance. S&P “A-“ rating is its seventh-highest ranking on a 22-part scale. Ratings are for AuguStar Life Insurance Company and National Security Life and Annuity Company. Ratings have been updated as of 7/15/2026.