Announcing Structure and Leadership Changes

Announcing Structure and Leadership Changes

2022-11-07 00:00:00.0

Ohio National Financial Services, Inc. to be renamed Constellation Insurance, Inc.

Anurag Chandra to be appointed as President and CEO, replacing Barbara Turner who is stepping down following the successful transaction and integration with Constellation

Ohio National Financial Services, Inc. (“Ohio National” or “the Company”) today announced that the Company is implementing certain structural changes in order to further its integration with Constellation Insurance Holdings, Inc. (“Constellation”) and to accelerate the execution of Ohio National’s organic and inorganic growth strategy.

Effective November 11, 2022, Ohio National Financial Services, Inc. will be renamed Constellation Insurance, Inc., at the corporate level; The Ohio National Life Insurance Company’s and its subsidiaries’ products and services are unaffected and will continue to be marketed and sold under the Ohio National Financial Services brand, as before. Anurag Chandra will be appointed as the Company’s President and CEO in addition to his current role as Chairman and CEO of Constellation. Barbara Turner will be stepping down from her position as President and CEO of Ohio National.

“We respect and accept Barbara’s decision and thank Barbara for her committed service to Ohio National over the last 25 years, as well as her leadership during the demutualization process and the ownership transition this year,” said Anurag Chandra, Chairman and CEO of Constellation.

Barbara Turner commented, “Upon accepting the role of CEO of Ohio National, I indicated my primary objective was to leave the company in a better position than it was when I accepted the role. Given the completion of the Constellation transaction and successful integration of Ohio National with Constellation, the time is right for me to step down as President and CEO. The company now has the capital, talent and infrastructure to fully capitalize on its growth potential and is very well positioned for the future.”

Barbara Turner has more than 35 years of leadership experience in the financial services industry. She joined Ohio National in 1997 and served as Ohio National's President and Chief Operating Officer since November 2018 and became CEO in 2020. Barbara Turner was Ohio National's 11th President and CEO and the first woman and person of color to serve in the role since its founding in 1909. During her tenure, she led Ohio National's annuities strategic business unit, serving as Chief Administrative Officer, and served as President and Chief Executive Officer of The O.N. Equity Sales Company (ONESCO), the company's affiliated broker/dealer. Under her leadership, ONESCO experienced historic growth and profitability and was recognized as a top broker/dealer in the country by Financial Planning magazine.

Anurag Chandra will also serve as President and CEO of Ohio National’s life insurance subsidiaries on an interim basis while a search is conducted to identify a new CEO for the life insurance subsidiaries who will report directly to Anurag Chandra in this new organizational structure.

About Ohio National

Since 1909, Ohio National has been committed to helping individuals, families and businesses protect what matters most. Through our network of financial professionals across 49 states (all except New York), the District of Columbia and Puerto Rico and through affiliated operations in South America, we provide the insurance products that help our policyholders achieve financial security and independence. As of December 31, 2021, its affiliated companies have $40.8 billion total assets under management. Products are issued by The Ohio National Life Insurance Company and Ohio National Life Assurance Corporation. Recognized as a Leader in Workplace Equity by Ellequate. Please explore for more information and for the latest company updates, connect with Ohio National on LinkedIn, Facebook and YouTube.

About Constellation

Constellation is an insurance holding company targeting acquisitions of life and P&C insurers based in North America, with the strategic intent of building a substantial, highly rated and conservatively managed multi-line insurance business backed by long-term institutional capital. Constellation’s founding investors and equal partners, CDPQ and Ontario Teachers’ Pension Plan are two of the largest long-term institutional investors in North America, managing a total of over C$660 billion in net assets, including over C$140 billion in private capital investments.

Media Contacts

Lisa Doxsee, APR