Silac Insurance Company

Financial Ratings

AM Best B+Negative

About Silac Insurance Company

SILAC Insurance Company, headquartered in Salt Lake City, Utah, is a long-standing U.S. life and annuity carrier specializing in fixed and fixed indexed annuities, multi-year guaranteed annuities (MYGAs), and Medicare Supplement insurance. Originally founded in 1935 as Equitable Life & Casualty Insurance Company, the company rebranded to SILAC in 2020 to reflect its national expansion and modernized product line.

SILAC focuses on delivering retirement and income solutions designed for guaranteed growth, income protection, and principal safety. The insurer’s product suite includes its flagship Secure Savings™ and Teton™ fixed indexed annuity series, as well as Secure Savings Elite™, catering to a range of investment horizons and liquidity needs.

Operating in 49 states and the District of Columbia (excluding New York), SILAC has established itself as a consistent performer in the fixed annuity space, recognized for competitive crediting rates, simplified contract designs, and strong independent distribution partnerships.

Financial Ratings

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Rating Agency

A.M. Best

Rating

B+

Description

Good

Effective

January 6, 2023

Rating Analysis

The ratings for SILAC Insurance have been placed under review with negative implications due to concerns over the quality of its reinsurance counterparties and collateral investments. Increased reinsurance leverage and a decline in risk-adjusted capitalization have prompted this reassessment. SILAC's financial flexibility is also noted as somewhat limited, which could affect its ability to manage growth or recover from investment losses. The resolution of the review will depend on AM Best’s assessment of SILAC's forthcoming strategic and capital management plans.