Sentinel & Atlantic Coast Life

[somarco]

It seems this might be the best section for this announcement . . .

Changes to Sentinel & Atlantic Coast Life Product Availability​

We are reaching out to inform you of recent developments involving Sentinel Security Life Insurance Company ("Sentinel") and its sister company, Atlantic Coast Life ("ACL"), that may impact your business operations. Sentinel Update Following a recent Emergency Order issued by the Utah Insurance Commissioner, Sentinel has been directed to cease writing new business by December 31, 2024. You can review the full text of the Order here. Sentinel has requested a stay of the Order and is actively challenging its findings, but no public statement has been released at this time. Given these circumstances, we are currently not accepting new applications for Sentinel products until there is further clarity and resolution regarding this situation. ACL Update You may also be aware of an Order issued by the South Carolina Department of Insurance affecting ACL. ACL has acknowledged the Order, which is connected to the Utah Emergency Order affecting its parent company, A-CAP. ACL has assured policyholders and agents that its day-to-day operations remain unchanged, and it continues to meet its obligations without interruption. ACL has also confirmed that it is working to resolve this matter in coordination with A-CAP and other stakeholders. Despite the ongoing efforts to resolve these matters, we are not accepting new applications for ACL products until further notice. We're Committed to Keeping You Informed We understand it is vital to have access to compliance-focused, reliable information to guide your business decisions. As we learn more, we will provide timely updates to keep you informed. If you have any immediate questions or concerns, please don't hesitate to reach out to your annuity marketer. We are here to support you with actionable strategies and alternative solutions to ensure that you can continue delivering trusted retirement and life insurance resources to your clients.​

Thank you for your understanding and partnership.​ ​ Jonathan R. Bussert President and CEO Legend Financial Marketing Services​

 

[Tahoe Ray]

It seems this might be the best section for this announcement . . .

Changes to Sentinel & Atlantic Coast Life Product Availability​

We are reaching out to inform you of recent developments involving Sentinel Security Life Insurance Company ("Sentinel") and its sister company, Atlantic Coast Life ("ACL"), that may impact your business operations. Sentinel Update Following a recent Emergency Order issued by the Utah Insurance Commissioner, Sentinel has been directed to cease writing new business by December 31, 2024. You can review the full text of the Order here. Sentinel has requested a stay of the Order and is actively challenging its findings, but no public statement has been released at this time. Given these circumstances, we are currently not accepting new applications for Sentinel products until there is further clarity and resolution regarding this situation. ACL Update You may also be aware of an Order issued by the South Carolina Department of Insurance affecting ACL. ACL has acknowledged the Order, which is connected to the Utah Emergency Order affecting its parent company, A-CAP. ACL has assured policyholders and agents that its day-to-day operations remain unchanged, and it continues to meet its obligations without interruption. ACL has also confirmed that it is working to resolve this matter in coordination with A-CAP and other stakeholders. Despite the ongoing efforts to resolve these matters, we are not accepting new applications for ACL products until further notice. We're Committed to Keeping You Informed We understand it is vital to have access to compliance-focused, reliable information to guide your business decisions. As we learn more, we will provide timely updates to keep you informed. If you have any immediate questions or concerns, please don't hesitate to reach out to your annuity marketer. We are here to support you with actionable strategies and alternative solutions to ensure that you can continue delivering trusted retirement and life insurance resources to your clients.​

Thank you for your understanding and partnership.​ View attachment 15957​ Jonathan R. Bussert President and CEO Legend Financial Marketing Services​

ACL sent out a marketing email that the Utah examiner was "inexperienced" and didn't know what they were doing.

They claim that they had their financials already audited by a 3rd party from a "major firm" that believes that all of their financials are sufficient and that they should be allowed to continue to do business.

Interesting back and forth.