Advantage Capital Holdings, LLC (“A-CAP” or the “Company”) today provided an update on its discussions with Palmetto Heritage Holdings, LLC (“Palmetto Heritage”) regarding a potential acquisition of Atlantic Coast Life Insurance Company (“Atlantic Coast Life”) and Southern Atlantic Re, Inc. (“Southern Atlantic”), as previously announced on October 28, 2026.

A-CAP and Palmetto Heritage remain actively engaged in discussions on the potential acquisition, and the parties continue to make progress toward a transaction. The investor group organized by Palmetto Heritage is made up of well-known members of South Carolina’s business community who bring significant access to capital, asset management expertise, and a range of experience that would benefit Atlantic Coast Life and its policyholders.

“A-CAP is and has always been committed to protecting policyholders and to working cooperatively with regulators,” stated the Company. “The rehabilitation petition filed on September 15, 2026 and the subsequent AM Best ratings downgrades were not actions that A-CAP was expecting. The Company continues to strongly disagree with Director Wise and believes that his actions have put policyholders at risk. A-CAP continues to be willing to work constructively with the South Carolina DOI to find a solution in the best interests of policyholders.”

AM Best noted in its November 11 rating downgrades that A-CAP is “in discussions with another possible capital provider.” That provider is Palmetto Heritage.

The Company continued: “A-CAP is optimistic about the progress of the discussions with Palmetto Heritage and remains committed to protecting policyholders and continuing to execute on its strategic priorities, including its efforts to raise additional capital and drive operational improvements across its insurance businesses.”

About A-CAP

A-CAP is a holding company with a diverse portfolio of insurance and financial businesses operating on an integrated platform. These businesses include primary insurance carriers, an SEC-registered investment adviser, reinsurance vehicles and marketing organizations. With broad expertise across the insurance and investment sectors, A-CAP provides services to policyholders, insurance-company clients and capital partners. Founded in 2013, A-CAP is privately held and maintains offices in New York, Charleston, Miami and Salt Lake City.

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