Financial strength
We are dedicated to ensuring Constellation and our family of companies remains financially strong and stable, now and for generations to come. We practice disciplined financial management and are committed to taking the right steps to position the organization better for the future.
Balance sheet strength
Enterprise statutory results as of Dec. 31, 2023.
Enterprise statutory net worth1
ALIC2 total adjusted capital
Enterprise total assets3
Enterprise statutory revenues3
1 Consolidated statutory surplus and AVR (without duplication) of all insurance entities and Constellation Insurance, Inc. cash/investable assets
2 AuguStarSM Life Insurance Company
3 Consolidated statutory results of all US insurance entities
Assets and investments
Results as of Dec. 31, 2023.
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 |
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| INVESTMENT PORTFOLIO BOND QUALITY | DOMESTIC INVESTED ASSETS | |
| 60.5% NAIC* 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+ * National Association of Insurance Commissioners |
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.4
A.M. Best
Financial strength: A
Outlook: Stable
Fitch
Financial strength: A-
Outlook: Positive
Moody's
Financial strength: Baa1
Outlook: Stable
4A.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 over CA$138 billion in private capital investments (as of Dec. 31, 2023).
