Ontario Teachers and CDPQ-backed Constellation Insurance completed the acquisition of Ohio National for $1bn.

Ontario Teachers and CDPQ-backed Constellation Insurance, an insurance holding company, complete the acquisition of Ohio National, an American life insurance provider, for $1bn. “Today marks an incredibly exciting day in Ohio National’s history. At a transformational time for our industry, the successful completion of this strategic transaction strengthens Ohio National’s balance sheet, capital access and financial strength ratings, which will enable us to capitalize on significant opportunities for organic and inorganic growth. We are now positioned to fully leverage our infrastructure, expand and diversify our product portfolio, and build on our longstanding distribution capabilities across career, independent and institutional channels to become a market leader in offering protection and retirement solutions," Barbara A. Turner, Ohio National President and CEO.