AuguStarSM Financial

What AuguStarSM Financial does

AuguStar Financial is a U.S. life insurance and retirement solutions provider headquartered in Cincinnati, Ohio, operating two product divisions — AuguStar Life and AuguStar Retirement — under the Constellation Insurance, Inc. holding company. The company traces its roots to approximately 1913, giving it more than 110 years of continuous operating history, and is privately held with ownership backed by La Caisse (Caisse de dépôt et placement du Québec) and Ontario Teachers' Pension Plan Board, two of the largest long-term institutional investors in North America that collectively manage CA$796 billion in net assets.

AuguStar's product suite spans the full retail life and annuity spectrum. AuguStar Life offers indexed universal life (Virtus IUL III, Protection IUL), indexed whole life (Prestige IWL), traditional universal life (V-Pro), whole life (Prestige Protector, Prestige 10 Pay 3, Prestige Max 4), term life (FlexTerm Series XII), and bank-owned life insurance, plus the LiveNow Access accelerated benefit rider with chronic, terminal, and critical illness living benefits. AuguStar Retirement offers fixed indexed annuities (FIA including Orbiter Growth FIA with EGAP), multi-year guaranteed annuities (MYGA), variable annuities (StarStream launched May 2026), and single premium immediate annuities (SPIA). Underlying technology centers on indexed products linking growth to market indices (S&P 500 and others) with 0% minimum floors on returns, tax-deferred accumulation, and standard customer self-service portals for policy and account management.

AuguStar distributes exclusively through financial intermediaries — traditional salesforces, independent marketing organizations (IMOs), broker-dealers, banks, and direct agents — targeting middle-market and affluent individuals, families, and businesses across the United States (excluding New York), with a modest Latin America operations footprint via ON Foreign Holdings, LLC. Revenue is generated through recurring life insurance premiums and one-time annuity deposits across fixed indexed, multi-year guaranteed, variable, and single premium immediate annuity products. The company holds financial strength ratings of A (A.M. Best), A (Fitch, upgraded in May 2025), and Baa1 (Moody's).

Name

AuguStarSM Financial

Legal name

AuguStar Life Insurance Company

Website

https://augustarfinancial.com

Company type

Private

Founded year

1913

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Life Insurance and Annuities

NAICS

Direct Life Insurance Carriers (524113), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Life Insurance (6311)

akta.pro primary industry

Universal Life (UL) Insurance (FSAIABAB)

akta.pro secondary industries

Participating (Dividend) Whole Life Insurance (FSAIABAI), Guaranteed Issue Term Life Insurance (FSAIAAAG), Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

Keywords

• Life insurance products
• Indexed annuities
• Retirement income solutions
• Whole life insurance
• Financial planning services

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Revenue generated from life insurance products including indexed universal life, indexed whole life, term life, universal life, and whole life insurance policies. Premium payments from individuals, families, and businesses for death benefit protection and cash accumulation.
2. Annuity Products: Revenue from annuity products including fixed indexed annuities, multi-year guaranteed annuities, variable annuities, and single premium immediate annuities. Earnings from accumulation phase and potential fees on living benefits and withdrawal features.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels9 records

Core offering

AuguStar Financial provides life insurance and retirement annuity products through two divisions—AuguStar Life (IUL, indexed whole life, universal life, term life, whole life) and AuguStar Retirement (fixed indexed, multi-year guaranteed, variable, and single premium immediate annuities). Products are distributed exclusively through financial professionals and institutional partners including traditional salesforces, IMOs, broker-dealers, and banks, targeting middle market and affluent individuals, families, and businesses across the United States.

Product overview

AuguStar Financial operates as a dual-brand financial services company offering life insurance and retirement income solutions through two main divisions: AuguStar Life and AuguStar Retirement, both members of the Constellation Insurance family. The life insurance portfolio includes indexed universal life products (Virtus IUL III and Protection IUL), indexed whole life (Prestige Indexed Whole Life), universal life (V-Pro), and traditional whole life (Prestige Protector, Prestige 10 Pay 3, Prestige Max 4), plus term life (FlexTerm Series XII). The retirement division offers fixed indexed annuities (FIA including Orbiter Growth FIA), multi-year guaranteed annuities (MYGA), variable annuities (StarStream), and single premium immediate annuities (SPIA). The company also provides accelerated benefit riders including the LiveNow Access rider with chronic, terminal, and critical illness coverage. Products are distributed through financial professionals and distribution partners including traditional salesforces, independent marketing organizations, broker-dealers, and banks.

Differentiator

Problem solved

Functional benefit

Brands

• StarStream: Variable annuity product launched by AuguStar Retirement designed to support retirement income planning for clients with varying goals and timelines.
• LiveNow Access
• Virtus IUL III
• Protection IUL
• Prestige

Products and services

• Virtus IUL III Indexed universal life insurance offering market-based growth potential linked to the S&P 500 index with a 0% minimum floor on returns. Designed for clients focused on building cash value and accessing it as income, with flexible premium payments and an adjustable death benefit.
• Protection IUL Protection-forward indexed universal life insurance offering S&P 500-linked cash value growth with a 0% floor and flexible premium and death benefit adjustment options for clients prioritizing death benefit protection.
• Prestige Indexed Whole Life Indexed whole life insurance combining whole life guarantees (premiums, cash value, death benefit) with market-based growth potential linked to indices. Offers limited premium payment options (e.g., 10 or 20 years) with lifetime protection thereafter.
• V-Pro Universal Life Universal life insurance providing permanent death benefit protection at an affordable premium, with cash value accumulation that can be accessed for future use.
• Prestige Protector Whole Life Whole life insurance offering lower premiums while maintaining the protection and benefits of whole life, with potential for reduced cash value and dividends.
• Prestige 10 Pay 3 Limited-pay whole life insurance requiring premium payments for a 10-year period, after which lifetime protection continues without further premiums.
• Prestige Max 4 Limited-pay whole life insurance with premiums payable to age 65, after which lifetime protection continues without further premiums.
• FlexTerm Series XII Term life insurance with level premiums for 10, 15, or 20 year terms, convertible to permanent life insurance even if health deteriorates.
• StarStream Variable Annuity Variable annuity combining four protected lifetime income benefit options with an investment platform for growth, allowing customization based on individual retirement goals and timelines.
• Fixed Indexed Annuity Fixed indexed annuity offering growth potential based on market index performance without risk of market losses, with downside protection and tax-deferred accumulation.
• Multi-Year Guaranteed Annuity (MYGA) Multi-year guaranteed annuity similar to a bank CD, offering guaranteed interest rates often higher than traditional CDs, with tax-deferred growth and flexible timeframes.
• Single Premium Immediate Annuity (SPIA) Single premium immediate annuity that converts a lump-sum payment into a guaranteed income stream for life, with options for spouse coverage and legacy planning.
• Orbiter Growth FIA Fixed indexed annuity with an Enhanced Growth Accumulation Provision (EGAP) providing an additional layer of protection for accumulated value.
• OrionShield Annuities Fixed annuity products with premium bonus options providing enhanced initial value accumulation for retirement planning.

Quantifiable outcome

• 110+ years of continuous operation and meeting policyholder claims
• +1 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor.

• Fitch RatingsminorOthers · 5 May 2025Independent rating agency that upgraded Constellation's insurance subsidiaries' rating to 'A' in May 2025. Fitch is a sixth-highest ranking on a 19-part scale, reflecting strong financial security and claims-paying ability.
• A.M. Best CompanyminorOthersIndependent insurance rating agency that assigns 'A' (Excellent) financial strength rating to AuguStar Life Insurance Company. A.M. Best's third-highest ranking out of 16 categories.
• Moody's Investors ServiceminorOthersIndependent rating agency that assigns Baa1 (Adequate) financial strength rating to AuguStar Life Insurance Company. Moody's eighth-highest ranking on a 21-part scale.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Lincoln Financial Group: Lincoln Financial offers a comparable mix of indexed universal life, indexed annuities, variable annuities, and retirement income solutions through financial professionals and IMOs, with overlapping middle-market and affluent positioning — making it one of the closest direct competitors to AuguStar's life and retirement product set.
• Corebridge Financial: Corebridge Financial is a major U.S. life and retirement carrier with strong indexed annuity and life insurance distribution through advisors and broker-dealers. It directly competes with AuguStar's middle-market retirement and life franchises, particularly in FIAs and IUL.
• Brighthouse Financial: Brighthouse Financial is a U.S. annuity and life insurance specialist focused on variable, indexed, and fixed annuities plus life insurance distributed through advisors — directly comparable to AuguStar Retirement's FIA/MYGA/VA stack and AuguStar Life's indexed life lineup.
• Jackson Financial: Jackson Financial is a leading U.S. variable and fixed annuity specialist serving middle-income and affluent clients through financial professionals — directly comparable to AuguStar Retirement's variable and indexed annuity franchise, including its new StarStream VA.
• F&G Annuities & Life: F&G is a U.S. annuity and life insurer with a strong indexed annuity franchise and growing indexed life business distributed through IMOs and advisors — closely comparable to AuguStar's FIA, IUL, and IWL product focus and middle-market distribution mix.
• Securian Financial: Securian Financial is a mid-size mutual life and retirement carrier focused on indexed universal life, indexed annuities, and retirement products for middle-market clients — directly comparable to AuguStar's product mix, distribution approach, and customer segment.

Broad incumbents

• MassMutual: MassMutual is a large mutual life insurer offering whole life, universal life, indexed life, and annuities through a broad financial professional channel. While much larger and broader, it competes head-to-head with AuguStar in indexed life and middle-market retirement solutions.
• Global Atlantic Financial Group: Global Atlantic is a U.S. life and annuity carrier with significant indexed annuity and reinsurance capabilities, partially connected to Constellation's ecosystem and overlapping in indexed products distributed through banks and broker-dealers — comparable as a broader fixed/indexed annuity incumbent.
• Athene Holding: Athene is one of the largest U.S. annuity platforms specializing in fixed, indexed, and reinsurance solutions distributed through banks and advisors. While substantially larger, it is a relevant incumbent comparable to AuguStar Retirement in FIA and MYGA product categories.
• Western & Southern Financial Group: Western & Southern Financial Group is a Cincinnati-based diversified financial services holding company with life insurance, annuities, and retirement products distributed through financial professionals. Operates in the same U.S. Midwest region and offers comparable indexed life and annuity products.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@AuguStarFinancial
• Facebookfacebook.com/augustarlife
• LinkedInlinkedin.com/company/augustar-retirement

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AuguStarSM Financial