Financial
Financial strength and backing for the future
Financial strength and backing for the future
Financial strength
Part of the Constellation Insurance family of companies
- Maintaining a strong balance sheet
- Practicing disciplined financial management
- Taking a long-term approach to deliver on our commitments
- Earning strong ratings from independent rating agencies
AuguStar Financial named Insurance & Annuities Solutions Provider of the Year
Balance sheet strength
Figures are for Constellation Insurance, Inc. as of Dec. 31, 2023.
ENTERPRISE GENERAL ACCOUNT ASSETS1
ENTERPRISE STATUTORY REVENUES1
ENTERPRISE STATUTORY NET WORTH2
1 Consolidated statutory results of all insurance entities of Constellation Insurance, Inc.
2 Consolidated statutory surplus & AVR (w/o duplication) of all statutory insurance entities and Constellation Insurance Inc. (CII) cash/investable assets
ALIC* total adjusted capital
$2.1B
2023 Benefits paid**
$1.1B
Annuities
$1.1B
Annuities
$469M
Life insurance
$469M
Life insurance
* AuguStarSM Life Insurance Company
**Benefits paid in 2023 include cash payments for systematic withdrawal transactions on deferred annuity contracts and annuity lump sum death claims and disbursements and life insurance death claims.
Enterprise assets and investments
Figures are for Constellation Insurance, Inc. as of Dec. 31, 2023.
INVESTMENT PORTFOLIO BOND QUALITY
| 60.5% | NAIC* 1 A1 to AAA |
| 37.2% | NAIC 2 BBB- to BBB+ |
| 2.0% | NAIC 3 BB- to BB+ |
| 0.2% | NAIC 4 B- to B+ |
| 0.1% | NAIC 5 & 6 D to CCC+ |
DOMESTIC INVESTED ASSETS
| 39.5% | Public corporates |
| 13.2% | Private placements |
| 13.2% | Mortgage loans |
| 11.7% | Municipals |
| 11.7% | Structured product |
| 8.0% | Cash |
| 2.7% | Other |
Ratings
We consistently earn high marks for financial security and claims paying ability from independent rating analysts.
A.M. Best
Financial strength: A
Outlook: Stable
Fitch
Financial strength: A-
Outlook: Positive
Moody’s
Financial strength: Baa1
Outlook: Stable
A.M. Best Company: “A,” its third-highest ranking out of 16 categories. Fitch: “A-,“ its seventh-highest ranking on a 21-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. Ratings are for AuguStarSM Life Insurance Company, AuguStarSM Life Assurance Corporation and National Security Life and Annuity Company and are accurate as of 5/10/2024.
Our investors and partners
Constellation Insurance founding investors and equal partners, Caisse de dépôt et placement du Québec (CDPQ) and Ontario Teachers’ Pension Plan Board (Ontario Teachers’), are two of the largest long-term institutional investors in North America.
Together, they manage a total of more than CA$681 billion in net assets, including more than CA$138 billion in private capital investments (as of Dec. 31, 2023).
Guarantees are based on the claims-paying ability of the issuer. Product, product features and rider availability vary by state. Issuer is not licensed to conduct business in NY. New York contracts issued by National Security Life and Annuity Company.
