AuguStar Variable Account R has announced a significant change involving the reorganization of several of its variable annuity and life insurance portfolios. This decision is aimed at enhancing operational efficiency and potentially lowering costs for its policyholders.

The Board of Directors of the AuguStar Variable Insurance Products Fund, Inc. approved three reorganizations, which will affect portfolios available within the company's variable annuity contracts and variable life insurance policies. The Board concluded that these reorganizations are in the best interests of the involved portfolios, with expectations that the total annual operating expenses of the survivor portfolios will be the same or lower than those of the target portfolios.

Background

AuguStar Variable Account R is an investment entity based in Cincinnati, Ohio, incorporated in the state of Ohio. The company primarily deals with variable insurance products, including variable annuities and life insurance policies. Recent filings indicate ongoing activity, with the latest submission being a Form 497 filed on November 3, 2026. The company previously operated under the name Ohio National Variable Account R until a name change in 1992.

What the Filing Says

The filing states, "You are receiving this notice because you have Contract value allocated to one or more of the target portfolios listed in the table below." It also outlines the expected transfer of assets from the target portfolios to their corresponding survivor portfolios, effective as of the close of business on December 18, 2026.

Impact

This announcement may have significant implications for policyholders who have allocated contract values to the affected portfolios. They will automatically see their investments transferred to the new survivor portfolios without any action required on their part. Additionally, the filing mentions that from October 19, 2026, through February 16, 2027, policyholders can make one transfer of contract value without charge, providing them with some flexibility during the transition.

What's Next

The filing does not specify what happens next beyond the planned reorganizations. However, an Information Statement/Prospectus detailing the reorganizations will be available on or about November 20, 2026, and policyholders can request a free copy by calling the company.