Fitch Ratings Upgrades Constellation Insurance’s Subsidiary Rating to ‘A’
CINCINNATI, May 5, 2025 – Constellation Insurance, Inc. announced today that Fitch Ratings has upgraded the Insurer Financial Strength (IFS) rating of its insurance subsidiaries to ‘A’ and assigned a stable outlook. The subsidiaries include AuguStar® Life Insurance Company, AuguStar Life Assurance Corporation, and National Security Life and Annuity Co.
“We are very pleased Fitch has recognized our strategic transformation into a highly-capitalized, well-diversified franchise with strong market position and substantial growth momentum across each of our six core businesses,” said Anurag Chandra, Constellation founder, chairman, and chief executive officer.
Fitch noted that Constellation has gained significant traction in its life and annuity businesses through its rebranded AuguStar Life and Retirement lines. The company has seen increasing sales and core earnings, and has enhanced its geographical and business diversification through expanding operations in Latin America, reinsurance, asset management, and institutional sectors. This diversification is expected to support earnings stability and growth over time.
The rating upgrade reflects the company’s improved operating scale and lower-risk business profile. Constellation is a diversified financial services group offering insurance, reinsurance, asset management, and institutional markets solutions through various subsidiaries.
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