Stellar National Holdings, LLC announced the acquisition and rebranding of American Labor Life Insurance Company to Stellar National Life Insurance Company.
Stellar National Life is being launched with a focus on becoming a fully digital issuer of annuities and a partner of choice for the U.S. independent annuity sales channel. Stellar National Life intends to offer a mix of mainstream and niche fixed annuity products designed for banking, credit union and broker dealer distribution through its platform, as well as partner with other direct issuance private credit experts. Stellar National Life’s introductory fixed interest product series for the annuity market will include three, five and seven-year non-market value adjusted annuities (“non-MVA). Over time, Stellar National Life intends to offer a no-load advisor product suite and specialty designed versions of its products for defined contribution plans.
Stellar National Holdings is backed currently by a national investment management firm with over $5 billion in assets under management, as well as a consortium of several senior financial service industry professionals.
Stellar National Life is led by a team of experienced insurance and annuity professionals with a combined 100+ years of industry experience, including Stellar National Life CEO John Muscolino. “We believe Stellar National Life is bringing a unique offering to the annuity industry,” said Muscolino. “We have put together an experienced team with a broad array of skillsets in the insurance industry, including asset management, distribution and operations. We are committed to providing the ‘Stellar Experience’ for our clients: simple and secure annuity solutions in the ever-changing world we find ourselves in.”