AuguStar Variable Account B has announced significant changes to its investment portfolios, with the Board of Directors approving three reorganizations. This move is designed to streamline operations and enhance efficiency for contract owners. The reorganizations involve the transfer of assets from target portfolios to corresponding survivor portfolios, which are expected to have the same or lower annual operating expenses.

The filing, dated November 3, 2026, indicates that these changes will take effect on or about December 18, 2026. Contract owners with value allocated to the affected target portfolios will automatically have their assets transferred to the new survivor portfolios. This decision comes after careful consideration by the Board, which concluded that the reorganizations are in the best interests of the portfolios involved.

Background

AuguStar Variable Account B is an investment entity incorporated in Ohio. It operates under the Central Index Key 0000073982 and is involved in the management of variable annuity contracts and variable life insurance policies. The company has a history of filing with the SEC, with its most recent filings including multiple Form 497 submissions in 2026.

What the Filing Says

The recent filing states, "The Board concluded that each reorganization is in the best interests of each portfolio involved in that reorganization." It also highlights that the total annual operating expenses of the survivor portfolios are expected to be the same or lower than those of the target portfolios.

Impact

This reorganization may significantly affect contract owners who have their investments allocated to the target portfolios. They will see their assets automatically transitioned to the new survivor portfolios, which are designed to maintain or lower operating costs. The filing emphasizes that owners of variable life insurance policies and variable annuity contracts will receive this notice, ensuring they are informed about the changes.

What's Next

As outlined in the filing, the changes will be implemented automatically, and contract owners do not need to take any action unless they wish to reallocate their investments. An Information Statement/Prospectus detailing the reorganizations will be available around November 20, 2026, providing more information on the new portfolios.