SILAC Insurance Company

SILAC Insurance Company

SILAC Insurance Company opened its doors in 1935 and spent most of its history as a quiet, regional carrier. That changed under Stephen C. Hilbert, who assembled an operating structure that intertwined the insurer with BTTF Capital, LLC — an entity that holds a 30 percent stake in SILAC, Inc. — and ultimately attracted Hildene Capital Management as a strategic acquirer. The Salt Lake City headquarters on South Main Street now anchors a national annuity platform that sells fixed index and multi-year guarantee annuities through independent agents. The firm's investment approach departs from the standard life-company mix of investment-grade corporates and agency mortgages. SILAC's general account holds commercial mortgage loans across the United States, structured credit and private assets, and direct equity in mixed-use properties — including 535 Grand Street in Brooklyn and Edge View in Salmon, Idaho. It also participates in life settlements, a corner of the insurance market that demands actuarial pricing and liquidity trade-offs few carriers accept. Annuity liabilities are managed alongside these assets, with separate service centers handling fixed index business and multi-year guarantee annuities. SILAC operates from a single office in Salt Lake City and runs additional insurance lines — Medicare supplement plans, long-term care coverage, and traditional life policies — that widen its distribution touchpoints. Executive representation on the Utah Life Convention board and the Association of Life Insurance Counsel membership signal a firm plugged into the regulatory and legal networks that shape annuity product design. The company also adheres to the Insured Retirement Institute's Digital First for Annuities standards, a compliance posture that matters for distributors who must meet evolving electronic-delivery rules. In 2024, Hildene Capital Management completed the acquisition of SILAC's parent entity, installing G. Daniel Acker as incoming CEO alongside his existing president and chief marketing officer roles (Altss estimate). SILAC's structural footprint is defined by the sequencing of control. BTTF Capital retained a 30 percent minority stake in SILAC, Inc. post-acquisition, which means Hildene's credit-manager DNA operates alongside a meaningful legacy economic interest. This setup creates a vehicle that can source assets through Hildene's origination pipeline while running a regulated insurance balance sheet that generates permanent capital from annuity premiums — a combination that resembles the Apollo-Athene model in miniature, built around structured credit rather than the private-equity-plus-annuity playbook.