Palmetto Heritage and Atlantic Coast Life Announce Discussions Regarding Potential Acquisition

CHARLESTON, S.C.--(BUSINESS WIRE)--
Palmetto Heritage Holdings, LLC, Atlantic Coast Life Insurance Company, and Southern Atlantic Re, Inc. are pleased to announce ongoing discussions regarding a potential acquisition of Atlantic Coast Life and Southern Atlantic by a South Carolina-based investor group organized by Palmetto Heritage.

The parties believe the proposed transaction presents a promising opportunity to enhance the Companies' long-term financial position while continuing to secure the interests of policyholders. Palmetto Heritage looks forward to working collaboratively with the South Carolina Department of Insurance to explore this opportunity.

Any transaction remains subject to definitive agreements and regulatory approvals.