KBRA Places Ratings of SILAC Insurance Company and Sterling Investors Life Insurance Company on Watch Developing Following the Announced Transaction with Hildene Capital Management
10 Dec 2025 | New York
KBRA places on Watching Developing the insurance financial strength ratings (IFSRs) of SILAC Insurance Company and Sterling Investors Life Insurance Company (collectively, SILAC). The Watch Developing status reflects some uncertainty regarding the near- to medium-term impact of the pending acquisition of their ultimate parent, SILAC Inc., by Hildene Capital Management, LLC, (together with its affiliates, "Hildene"), following the signing of a definitive agreement. The transaction, expected to close in mid-2026, could provide strategic benefits under Hildene’s ownership, including enhanced investment and reinsurance alignment.
Hildene is a credit-focused alternative asset manager with more than $18 billion in assets under management and an expanding insurance solutions platform that includes its affiliated reinsurer, Hildene Re SPC, Ltd. Public announcements indicate that SILAC would become a core component of Hildene’s broader insurance strategy, extending the firms’ existing investment and reinsurance relationships. The acquisition remains subject to required regulatory review.
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