A Daily Network publication
Explore the network
The Daily NetworkAbout the network →
Private Wealth DailyPrivate wealthDigital Capital DailyDigital assetsESG Capital DailySustainable capitalETF DailyETFsETF Pro AIThe fund terminalFamily Office DailyFamily offices & private capitalInsurance Capital DailyYou’re reading this editionInterval Fund DailySemi-liquid fundsPrivate Credit DailyPrivate creditPrivate Infrastructure DailyInfrastructurePrivate Real Estate DailyReal estateRetirement Capital DailyRetirement assetsSecondaries DailySecondariesWealth Advisor Daily
Insurance Capital Daily
Independent Intelligence on Insurance Investment
Thursday, October 15, 2026The Morning Brief →Sign in
The MomentumThe Wrap

Fitch assigned Constellation Re an A; Morningstar DBRS assigned Verdant Rock an A

Constellation Re was formed in December 2024 with $250 million in common equity from AuguStar Life; Verdant Rock was founded in 2025.

By The Wrap DeskThursday, October 15 at 11:59 AM ET

At a glance

15-second brief

  • Constellation Re is a Bermuda life reinsurer and Class C insurer, formed in December 2024 with $250 million in common equity from AuguStar Life Insurance Co.

  • Verdant Rock, a Bermuda guarantor founded in 2025, holds an A from Morningstar DBRS and a BBB+ financial strength rating from Fitch.

Fitch assigned Constellation Re an A insurer financial strength rating on Oct. 14. Morningstar DBRS assigned Verdant Rock an A financial strength rating two days earlier, on Oct. 12.

Constellation Re is a Bermuda life reinsurer and Class C insurer, formed in December 2024 with $250 million in common equity from AuguStar Life Insurance Co.

Verdant Rock, a Bermuda guarantor founded in 2025, holds an A from Morningstar DBRS and a BBB+ financial strength rating from Fitch.

Constellation Re's release names the $250 million common equity contribution from AuguStar Life, while Verdant Rock's names its 2025 formation and an existing Fitch BBB+ rating.

Continue your research

Save this analysis and keep the funds you follow together in My Desk.

Sign in to save articles or follow funds.
Sources & further reading
Fitch Ratings · Morningstar DBRS · Insurance Capital Daily coverage file
In this storyAuguStar Life Insurance CoFitchConstellation ReFitch RatingsVerdant RockMorningstar DBRS
More from Insurance Capital Daily
The Wrap

NOAA revises hurricane records; Karen Clark warns catastrophe models can go stale

Moody's says Florida-only homeowners writers are most exposed to Hurricane Isaias, while Gallagher Re says the storm is unlikely to meaningfully influence January 1 renewals because reinsurance capital is abundant.
The Wrap

NAIC reviews rated note feeder treatment as insurer fund finance allocation reaches 1.9%

A Moody's survey of rated US life insurers puts the allocation at 1.9% of cash and invested assets in 2025, up from 1.3%.
Manager Tie-Ups

Chariot Re completes $1.6bn Japan retrocession with MetLife Reinsurance Company of Hamilton

The agreement took effect September 30 and covers Japanese whole life and annuity policies denominated in US dollars.
Elsewhere in the networkAll titles →
Interval Fund Daily

Nontraded BDC redemption requests stay near twice cap; CAZ and Adams launch funds

Private Real Estate Daily

CRE CLO delinquencies fall to 0.52% as modified loans rise 68.6%

Private Wealth Daily

BNY Pershing retires Wove, folds it into wealth unit as Fitch lists cash-rate winners

Every weekday · 6:30 a.m. ET

The Morning Brief

The latest from Insurance Capital Daily, in your inbox every weekday. Free.