Ohio National rebrands to AuguStar Life

Constellation Insurance announces the rebranding of its Ohio National life insurance business as AuguStar Life. Constellation is an insurance holding company serving consumers and small business owners in the United States and Latin America through its family of insurance companies which collectively have over $34 billion in assets under management as of December 31, 2022. Constellation’s institutional owners CDPQ and Ontario Teachers’ are two of the world’s largest long-term institutional investors.

“We are strategically committed to building AuguStar Life into an industry leader offering indexed life products through traditional direct agent distribution and independent marketing organizations,” says Anurag Chandra, Constellation Insurance founder, president and chief executive officer. “This new brand reflects the substantially stronger capital position under new ownership and signifies a modern and contemporary identity that aligns well with the multi-faceted product portfolio, technology platform and distribution transformation that is well underway.”

“Our commitment to the entrepreneurial traditional distribution model remains unchanged. Our successful ‘Your Business, Your Vision, We’ll Help’ value proposition has now been greatly enhanced by the launch of market-leading and innovative indexed life products and modernization of our distribution technology platforms and distribution compensation contracts” says Bill Price, AuguStar Life president and chief executive officer. “We are now well positioned to substantially expand our distribution footprint as we launch our indexed life products over the next several months with leading independent marketing organizations.”

Constellation acquired Ohio National in March 2021, after Ohio National executives cited "challenging" economic conditions in announcing an expansive reorganization plan to demutualize the company.

The deal included the conversion of Ohio National Mutual Holdings to a stock company and the issuance of all of its newly issued stock to Constellation pursuant to a sponsored demutualization. Constellation, an insurance holding company, is backed by Caisse de dépôt et placement du Québec and Ontario Teachers’ Pension Plan Board.