Hildene Capital Management to Acquire SILAC Insurance Company

Hildene Capital Management, an alternative asset manager with over $18 billion in assets, has entered a definitive agreement to acquire SILAC, Inc., the parent company of SILAC Insurance Company, which specializes in fixed and fixed indexed annuity products across 48 states and DC. This acquisition aims to expand Hildene's insurance solutions business by integrating SILAC's operations with Hildene's investment and risk management expertise, enhancing financial stability and growth potential for policyholders. SILAC, with approximately $505 million in capital and surplus and nearly $10 billion in admitted assets as of late 2025, has originated significant annuity business, notably $2.5 billion in fixed indexed annuities in 2024. The transaction, valued at around $550 million in cash, is expected to finalize by mid-2026 pending regulatory approval. Leadership transitions will include Daniel Acker, currently SILAC's President and Chief Marketing Officer, assuming the CEO role to drive strategic growth and product innovation. Hildene plans to broaden SILAC’s leadership team post-acquisition to support ongoing expansion efforts. This acquisition follows Hildene's prior minority investment in SILAC and solidifies a close partnership, including an existing reinsurance arrangement. The consolidation aligns with broader market trends favoring annuity products, positioning SILAC for enhanced distribution and product development capabilities under Hildene's ownership. Hildene maintains a disciplined credit investing philosophy, seeking to leverage event-driven strategies to optimize returns, which is expected to reinforce SILAC's market competitiveness. This deal represents a strategic growth move in the insurance sector, emphasizing technological, operational, and distribution innovation to meet increased consumer demand for retirement solutions.