Scottish Insurer Plans Bermuda Move

April 24, 2001

Scottish Annuity & Life Holdings Ltd. announced that it’s planning on moving “its corporate and international reinsurance operations” to Bermuda” from their present location in the Cayman Islands.

“Bermuda is the capital of the global insurance industry,” stated CEO Michael C. French. “While the Cayman Islands have provided an excellent home for the Company, the long-term growth and success of our business will significantly benefit from being in the global insurance business flow that passes through Bermuda.”

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