SC judge rules Atlantic Coast can stay in business; rips regulators
February 19, 2025 by John Hilton
A South Carolina judge reversed a state Department of Insurance order today that had banned Atlantic Coast Life Insurance Co. from writing new premiums.
Judge Ralph King Anderson III rejected the department’s conclusion that Atlantic Coast is in financial distress.
“The evidence shows that ACL maintains a positive cash flow and has not experienced any difficulty paying amounts owed to either its policyholders or creditors,” he wrote.
Wink’s Moore on the Market: Out of the office, and BIG news doesn’t stop. Sounds like South Carolina regulators got the smack down, from a judge, as to the solvency of Atlantic Coast Life Insurance Company.
I think the Atlantic Coast Life Insurance Company is throwing a party right now.
Thanks for the intel John Hilton at InsuranceNewsNet!
