South Carolina bars A-Cap insurers from writing new policies in 2025

December 26, 2024 by John Hilton

South Carolina became the second state this month to bar an Advantage Capital Partners-controlled life insurer from writing new business after Dec. 31.

“Atlantic Coast Life Insurance Company and Southern Atlantic Re, Inc. have been directed to cease writing all new business, effective December 31, 2024,” reads a statement from Michael Wise, director of the South Carolina Department of Insurance.

“These companies have also been instructed to notify all producers who sell their products and other relevant persons or entities of this directive; and, they are to confirm that they have provided such notice,” the statement adds. 

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Originally Posted at InsuranceNewsNet on December 18, 2024 by John Hilton.