Core Insights - Hildene Capital Management has agreed to acquire SILAC Insurance Company's parent operation, SILAC, for approximately $550 million in cash, pending regulatory approval and customary closing conditions [1][4] - The acquisition aims to enhance Hildene's insurance solutions platform and strengthen its investment and risk management strategies for SILAC's policyholders [2][5] Company Overview - SILAC, based in Indiana, operates in 48 states and the District of Columbia, with reported capital and surplus of around $505 million and total admitted assets of approximately $10 billion as of September 30, 2025 [2][3] - In the previous year, SILAC originated around $2.5 billion of annuities, primarily in fixed indexed annuities [3] Transaction Details - The acquisition follows Hildene's strategic minority investment in SILAC in 2022 and an existing reinsurance arrangement with Hildene Re SPC [2] - Upon completion, Hildene is expected to manage all of SILAC's investment assets, expanding its investment management relationship [3] Leadership Changes - G Daniel Acker, SILAC's current chief marketing officer and president, will become CEO after the acquisition closes, while Stephen Hilbert will step down from his position as CEO [3][4] Timeline and Advisors - The transaction is anticipated to close in mid-2026, subject to regulatory approvals [4] - Jefferies is acting as the financial advisor and Kirkland & Ellis as the legal advisor for Hildene, while Piper Sandler & Co and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo are serving as financial and legal advisors for SILAC, respectively [4]