( September 18, 2026, 11:15 AM EDT) -- COLUMBIA, S.C. — The director of the South Carolina Department of Insurance (DOI) filed a petition in state court seeking an order appointing him as receiver of Atlantic Coast Life Insurance Co. and its subsidiary and reinsurer, Southern Atlantic Re Inc. (collectively, insurers) for rehabilitation purposes and directing him to take possession of and to administer the insurers’ assets, asserting that the insurers’ “risky” and “improper” investments threaten their ability to make annuity payments for “mostly elderly policyholders.”...