Insurer, Captive Reinsurer Prevail In Appeal Of South Carolina Regulator’s Order

( February 19, 2025, 2:04 PM EST) -- COLUMBIA, S.C. — Saying that “the evidence relied upon by the Director was unreliable, unsupported, and contrary to law,” a South Carolina Administrative Law Court judge permanently enjoined the South Carolina Department of Insurance (SCDOI) from enforcing an order “until a final decision is issued by the [SDCOI] in this matter”; the order directed Atlantic Coast Life Insurance Co. (ACL) and ACL’s captive reinsurer, Southern Atlantic Re Inc. (SAR), to stop writing new business by the end of 2024, among other things....

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