Hildene to acquire SILAC for $550 million

Hildene Capital Management  signed an agreement to acquire annuity provider SILAC for roughly $550 million, expanding the firm’s insurance solutions platform and deepening its push into the annuities market.

SILAC, which offers fixed and fixed indexed annuities in 48 states and D.C., reported $10 billion in admitted assets, $505 million in capital and surplus, and about $2.5 billion in 2024 annuity originations. Hildene already manages a portion of SILAC’s portfolio and will take over full investment management following the close.

The deal builds on Hildene’s 2022 minority investment in SILAC Insurance Company and an existing reinsurance arrangement with Hildene Re. Upon closing, Daniel Acker will become CEO, succeeding Stephen Hilbert, and Hildene plans additional leadership hires.

The transaction is expected to close in mid-2026, pending regulatory approval.