Acquisition of SILAC Furthers Hildene’s Commitment to Scaling its Insurance Solutions Business. New Ownership and Enhanced Resources Will Position SILAC for Continued Growth Amid Strong Annuities Sector Tailwinds. Daniel Acker to Become Chief Executive Officer of SILAC Upon Transaction Close
Hildene Capital Management, LLC (together with its affiliates, “Hildene”), an $18+ billion credit-focused alternative asset manager, today announced it has signed a definitive agreement to acquire SILAC, Inc., the parent company of SILAC Insurance Company (“SILAC”), a leading provider of fixed and fixed indexed annuity products in the U.S. SILAC is headquartered in Carmel, IN and has operations across 48 states and the District of Columbia.
The proposed acquisition marks a significant step in the continued growth of Hildene’s insurance solutions platform. Leveraging its expertise in alternatives, Hildene aims to deliver innovative investment and risk management strategies that enhance growth and strengthen the financial stability of SILAC for the benefit of policyholders. The transaction builds on Hildene’s 2022 strategic minority investment in SILAC, as well as an existing reinsurance arrangement between SILAC and Hildene Re SPC, Ltd., Hildene’s Cayman-based reinsurer.
For SILAC, the transaction will help position the company for its next chapter of growth amid strong sector tailwinds and increase resources to drive innovation to help consumers reach their retirement goals. Since 2023, Hildene has managed a portion of SILAC’s investment portfolio, and, following the closing of the transaction, is expected to expand its investment management relationship with SILAC to cover all of SILAC’s investment assets.
Upon receiving regulatory approval, Hildene will acquire all of the outstanding common equity of SILAC for approximately $550 million in cash. As of September 30, 2025, SILAC had capital and surplus of approximately $505 million and approximately $10 billion of total admitted assets. In 2024, SILAC originated approximately $2.5 billion of annuities, primarily of fixed indexed annuities. SILAC has financial strength ratings from KBRA (BBB), Fitch (BBB-) and AM Best (B).
Go-Forward SILAC Leadership and Operations
Concurrent with the close of the acquisition, G. Daniel Acker, SILAC’s current President and Chief Marketing Officer, will assume the role of Chief Executive Officer. Acker brings over two decades of experience in driving growth and product innovation. Stephen Hilbert will step down from his current role of CEO. Hildene and SILAC also plan to further bolster SILAC’s leadership team with external hires to support strategic objectives and ongoing growth.
“This acquisition represents an important inflection point for SILAC,” said Acker. “It will enable us to accelerate our strategy and further enhance our capabilities as a leading annuity provider. Our employees, partners, agents and policyholders will benefit from our continued focus on innovation and our robust distribution model, especially as demand for annuity products continues to grow.”
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