Hildene to scale insurance business solutions with acquisition of SILAC

Hildene Capital Management has entered into a definitive agreement to acquire SILAC Insurance Company’s parent operation, SILAC, marking a step forward in the growth of Hildene’s insurance solutions platform.

The acquisition will see Hildene purchase all outstanding common equity of SILAC for approximately $550m in cash, subject to regulatory approval and customary closing conditions.

It is expected to strengthen Hildene’s ability to deliver investment and risk management strategies that benefit SILAC’s policyholders.

SILAC, based in Indiana, US, operates in 48 states and the District of Columbia.

The transaction follows the 2022 strategic minority investment by Hildene in SILAC and a current reinsurance arrangement between SILAC and reinsurer Hildene Re SPC.

Hildene has managed a part of the investment portfolio of SILAC since 2023.

After the transaction is completed, Hildene is expected to widen its investment management relationship with SILAC to include all of its investment assets.

As of 30 September 2025, SILAC reported capital and surplus of around $505m and total admitted assets of apprximately $10bn.

Last year, SILAC originated around $2.5bn of annuities, primarily fixed indexed annuities.

Upon closing of the acquisition, SILAC’s current chief marketing officer and president, G Daniel Acker, will become CEO.

Stephen Hilbert will step down from his current CEO position.

The closure of the transaction is anticipated in mid-2026, pending regulatory approvals. Jefferies is acting as financial advisor and Kirkland & Ellis as legal advisor to Hildene.

Piper Sandler & Co and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo are serving as SILAC’s financial and legal advisors, respectively.

Hildene co-chief investment officer and president Brett Jefferson said: “The acquisition of SILAC will strengthen their ability to serve the long-term interests of its policyholders while broadening Hildene’s product offerings and enhancing our platform and origination capabilities.

“Since its inception, Hildene has been a pioneer in credit investing, consistently maintaining a disciplined approach to asset management.”

“Hildene to scale insurance business solutions with acquisition of SILAC” was originally created and published by Life Insurance International, a GlobalData owned brand.

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