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AMERICAN PIONEER LIFE INS. CO. v. RECEIVER OF FIRST NATIONAL LIFE INS. CO.

2990082.

769 So.2d 324 (2000)

AMERICAN PIONEER LIFE INSURANCE COMPANY v. RECEIVER OF FIRST NATIONAL LIFE INSURANCE COMPANY.

Court of Civil Appeals of Alabama.

May 5, 2000.

Attorney(s) appearing for the Case

Robert E. Sasser, Tamara A. Stidham, and J. Scott Dickens of Sirote & Permutt, P.C., Montgomery; and Irving I. Lesnick of Harnett, Lesnick & Ripps, P.A., Boca Raton, Florida, for appellant.

Charles B. Paterson and Marc J. Ayers of Balch & Bingham, L.L.P., Montgomery, for appellee.

CRAWLEY, Judge.

In 1996, the Circuit Court of Montgomery County placed First National Life Insurance Company ("First National") in rehabilitation and appointed the chief of the Receivership Division of the Alabama Insurance Department as the receiver of First National (the "Receiver"). The Receiver; American Pioneer Life Insurance Company ("American Pioneer"); and Transamerica Occidental Life Insurance Company entered into a "Reinsurance and Assumption Agreement"...

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