The former co-leader of a collapsed Georgia savings and loan, a lending firm that is now the subject of sta
te and federal Ponzi scheme investigations, has been granted an insurance producer’s license in the state.
Edwin Brant Frost V, who previously worked at First Liberty Building & Loan with his father, now is a licensed ins
urance agent in Newnan, Georgia, according to the National Association of Insurance Commissioners’ license verification site. Frost obtained the license in Au
gust for life, accident and sickness lines, and has been appointed with several life and health insurers.
For months, news sites and court filings have indicated that the U.S. Securities and Exchange Commission and Georgia authorities have intensified thei
r investigations after First Liberty imploded after the financial firm allegedly defrauded some 300 investors of more than $
140 million. The operation was billed as a Christian, faith-based loan provider.
The SEC filed suit in federal court in Georgia in July, contending that the elder Frost, Brant Frost IV, had promis
ed returns as high as 18%. But it was all a Ponzi scheme starting in 2021
, and Frost IV allegedly used millions of dollars for personal gain and for political donations, the SEC complaint argues.
The elder Frost has accepted responsibility and has pledged to repay investors, according to news reports.
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Frost V, the new insurance agent, is not named in the SEC com
ary of State’s office. He resigned from First Liberty in July and has declin
ed to comment to news media, the Atlanta Journal Constitution and other sites reported.
Overall, SCS remains a major contributor to global natural cata
strophe losses, reaching claims of US$50 billion in 2025 – as the third costli
est year for SCS after 2023 and 2024 – and continuing a multi-year upward trajectory, Swiss Re said.
The US saw major SCS activity in the first half, with several s
evere tornado outbreaks in March and May driving above-average tornado and wind reports, while hail activity remain
ed close to average. Swiss Re said the second half of the year saw more SCS activity in the US, with both hail and broad
er thunderstorms running below seasonal norms.
“In Europe, notable hailstorms occurred in May and June, though insured losses were limited as the most intense activi
ty affected regions with lower concentrations of high-value exposure,” the report said.