Hildene Capital Management has signed 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.
With the acquisition, Hildene will purchase all of SILAC’s outstanding common stock for approximately $550 million 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 policyholders.
SILAC, headquartered in Indiana, USA, operates in 48 states and the District of Columbia.
The transaction follows Hildene’s strategic minority investment in SILAC for 2022 and an existing reinsurance agreement between SILAC and reinsurer Hildene Re SPC.
Hildene manages a part of SILAC’s investment portfolio since 2023.
Upon completion of the transaction, Hildene is expected to expand its investment management relationship with SILAC to include all of its investment assets.
As of September 30, 2025, SILAC reported capital and surplus of around $505 million and total admitted assets of approximately $10 billion.
Last year, SILAC generated about $2.5 billion in annuities, primarily fixed-indexed annuities.
Once the acquisition is closed, SILAC’s current marketing director and president, G Daniel Acker, will become CEO.
Stephen Hilbert will step down from his current role as CEO.
Closing of the transaction is expected in mid-2026, pending regulatory approvals. Jefferies is acting as financial advisor and Kirkland & Ellis is acting as legal advisor to Hildene.
Piper Sandler & Co and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo are acting as financial and legal advisors to SILAC, respectively.
Brett Jefferson, co-chief investment officer and president of Hildene, said: “The acquisition of SILAC will strengthen its ability to serve the long-term interests of its policyholders while expanding Hildene’s product offering and enhancing our platform and origination capabilities.
“Since its inception, Hildene has been a pioneer in credit investing and has consistently maintained a disciplined approach to asset management.”
“Hildene to Expand Commercial Insurance Solutions with Acquisition of SILAC” was originally created and published by Life Insurance International, a brand owned by GlobalData.
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