Scottish Re Posts to Its Website Third Quarter 2009 Financial Statements

HAMILTON, Bermuda--(BUSINESS WIRE)--Scottish Re Group Limited (Pink Sheets: SKRRF) "Scottish Re" or the "Company", announced today that it has posted to its website its unaudited consolidated financial statements for the three and nine months ended September 30, 2009. For the three month period ended September 30, 2009, Scottish Re reported net income attributable to ordinary shareholders of $201.9 million, or $0.92 per diluted ordinary share, as compared to a net loss attributable to ordinary shareholders of $713.9 million, or ($10.44) per diluted ordinary share, for the prior year period. The net income attributable to ordinary shareholders for the three month period ended September 30, 2009 was driven by net realized and unrealized gains of $191.1 million resulting from an overall market recovery of fixed maturity investments, as compared to net realized and unrealized losses of $475.4 million for the prior year period.

To view the financial statement documents go to Scottish Re's website at www.scottishre.com.

About Scottish Re

Scottish Re Group Limited is a global life reinsurance specialist. Scottish Re has operating businesses in Bermuda, Ireland and the United States. Its flagship operating subsidiaries include Scottish Annuity & Life Insurance Company (Cayman) Ltd., and Scottish Re (U.S.), Inc. Additional information about Scottish Re Group Limited can be obtained from its website, www.scottishre.com.