Scottish Re

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Former Scottish Re chairman accused of securities fraud by SEC

August 2, 2010
Michael French, the former Chairman and CEO of Bermuda based Scottish Re, has been accused of securities fraud by the U. S. Securities and Exchange Commission. French allegedly helped billionaire brothers Samuel and Charles Wyly to conceal their beneficial ownership

Settlement talks delay $40 m Annuity & Life Re/Transamerica arbitration

April 7, 2007
An arbitration hearing scheduled for April regarding a $40 million damages claim against Bermuda-based Annuity and Life Re (Holdings) Ltd. by Transamerica Occidental Life Insurance Company has been called off pending settlement negotiations.Details are contained in a note to the financials headlined “Contingencies” that appears in Annuity & Life Re's 2006 financials, which were released on March 21, 2007.

Transamerica seeks $45 m in damages from Annuity & Life Re

September 7, 2006
Transamerica is seeking $45 million in damages from a subsidiary of Bermuda based Annuity & Life Re (Holdings) Ltd. concerning the novation of Annuity and Life Reassurance Ltd.'s reinsurance contract with fellow Bermuda firm, Scottish Re Group Ltd.In a press

Insider Talking: September 7, 2006

September 7, 2006
A tax information exchange agreement between the Isle of Man and the United States has come into force. In a press release on September 1, 2006, the U. S. Department of The Treasury announced that “An exchange of letters between

Offshore providers hammered by U. S. investigators

August 8, 2006
An offshore insurer whose directors include former Chairman of the Cayman Islands Monetary Authority Michael Austin may have been used to help an American family worth billions of dollars break U. S. tax, securities and money laundering laws.The allegations were

US investigators hammer offshore providers

August 8, 2006
An offshore insurer whose directors include former Chairman of the Cayman Islands Monetary Authority Michael Austin may have been used to help an American family worth billions of dollars break U. S. tax, securities and money laundering laws.The allegations were made in a report entitled “Tax Haven Abuses: The Enablers, The Tools and Secrecy” that was published by the U. S. Senate Permanent Subcommittee on Investigations on August 1, 2006.

Class action lawsuit filed against Scottish Re

August 8, 2006
A class action lawsuit alleging securities violations has been filed in the United States against an offshore reinsurer whose directors include former Chairman of the Cayman Islands Monetary Authority Michael AustinIt was brought at the U. S. District Court for the Southern District of New York on August 2, 2006 - just two days after the share price of Bermuda-based life reinsurer Scottish Re Group Ltd. fell by 75% from $16 to $3.99 on the New York Stock Exchange in one trading day.

Scottish Re is lone Q2 loss-maker of 14 reporting Bermuda insurers

August 8, 2006
Of the 14 publicly-listed, Bermuda-based insurers and reinsurers who recently filed their second quarter earnings with the SEC, only Scottish Re reported a loss.Commenting on a loss of $2.43 per share, or $121 million, Scottish Re's Interim CEO, Paul Goldean, said: “The results for the quarter are a sharp departure from our original projections and estimates provided to our stakeholders”.

Class action lawsuit filed against Scottish Re after share price plummets

August 8, 2006
A class action lawsuit alleging securities violations has been filed in the United States against Bermuda-based life annuity reinsurer Scottish Re Group Ltd.It was brought at the U. S. District Court for the Southern District of New York on August 2, 2006 - just two days after Scottish Re's share price fell by 75% from $16 to $3.99 on the New York Stock Exchange in one trading day.

Fidelity increases investment in Bermuda insurance market

July 10, 2006
Mutual fund firm Fidelity has increased its position as the largest single investor group in the Bermuda insurance and reinsurance market.The Boston, Massachusetts-based group owns at least five per cent of the common shares of 12 of the 16 companies whose ownerships were reviewed by InsideBermuda, compared with eight of 14 companies in a similar review last year. As of June 30, 2006, Fidelity's total stake in the Bermuda market had a stock market value of approximately $5.6 billion.

Fidelity maintains position as ‘owner’ of Bermuda market

July 5, 2005
Fidelity - the largest mutual fund group in the United States - has maintained its position as the largest single investor group in the Bermuda insurance market.Fidelity owns at least five per cent of common shares in eight of the 14 Bermuda-based, publicly-listed insurers whose ownerships were reviewed by InsideBermuda. That is three more major investments than another Boston, Massachusetts-based fund group, Wellington Management, which was revealed as the second biggest ownership group in our review. Collectively, Fidelity's stakes have a market value of more than $2.7 billion, with Wellington just behind at $2.5 billion.

Scottish Annuity & Life changes name

September 30, 2003
First it changed its domicile, from the Cayman Islands to Bermuda, now it had changed its name. Scottish Re Group Ltd. announced on September 2 that its shareholders had approved changing the Company's name to Scottish Re Group Ltd. from