AM Best has commented on the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) of Hildene Re SPC, Ltd. (Hildene Re) (Cayman Islands) remain unchanged following the announced acquisition of SILAC Inc. by Hildene Capital Management, LLC. The outlook of these Credit Ratings (ratings) is stable.

Hildene Capital Management, LLC announced on Dec. 8, 2025, that it has entered into a definitive agreement to acquire SILAC Inc., the parent of SILAC Insurance Company. The transaction is expected to close in mid-2026 and is subject to regulatory approvals and customary closing conditions. The acquisition will be paid entirely in cash and will cover all outstanding common equity of SILAC Inc.

Hildene Re and SILAC Inc. will have different ultimate parent companies under the proposed organizational structure. Hildene Insurance Holdings, LLC will continue to be the majority owner and ultimate parent of Hildene Re. Hildene Holding Company, LLC will become the majority owner of SILAC Inc and its subsidiaries.

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