Atlantic Coast Life Insurance Company Revenue and Competitors

Atlantic Coast Life Insurance Company is a closely held stock life insurer founded in 1925 by Y. W. Scarborough and J. W. Orvin. In 1954, Y. W. Scarborough acquired 100% of the company's stock. Since then control of the company has been closely held by members of the Scarborough Family. Atlantic Coast Life has two sales and service divisions. The Home Service Division provides products and services through a network of agents in South Carolina. The Preneed division provides products and services through a network of funeral homes in South Carolina, North Carolina and Georgia. Until 2003, Atlantic Coast Life Insurance Company was primarily a home service life insurance company. As a home service company, a majority of the sales and premium collection efforts are done at the site of the customer's home. Operations are conducted through captive agents working throughout South Carolina. These agents represent Atlantic Coast Life exclusively and offer life, accident, and health coverage to the public. On August 1st, 2003, ACL successfully launched its Pre-Need Division. Specialized life insurance products, offered through funeral homes, provide funding for pre-arranged funerals. In three short years, the preneed division has captured a dominant market share in its home state of SC. It has held the official endorsement of the South Carolina Funeral Director's Association (SCFDA) as the preferred preneed provider for its member companies since 2004. Due to these successes and more, in 2005, the Atlantic Coast Preneed Division has expanded its operations into North Carolina and Georgia. In addition, the preneed division has begun the process of expansion into the states of Alabama, Florida, Kentucky, Mississippi, Tennessee and Virginia in late 2006.