Exhibit 99.1

Scottish Re Announces Scott Willkomm to Succeed Michael French as Chief
Executive Officer

HAMILTON, Bermuda--(BUSINESS WIRE)--Dec. 7, 2004--Scottish Re Group Limited
(NYSE:SCT), a global life reinsurance specialist, announced today that Scott
Willkomm, who has been President of Scottish Re and a member of the Scottish Re
Board of Directors since 2000, will succeed Michael C. French as the company's
Chief Executive Officer effective January 1, 2005. Michael C. French, who has
served as Scottish Re's Director and CEO since May 1998, will remain the
Chairman of Scottish Re's Board of Directors.

"Speaking on behalf of the entire Board of Directors, I am so pleased that Scott
will be moving into the CEO role. Scott brings vision and dynamism to our
business and has emerged as a real presence in the industry. In the past four
years, as Scottish Re has grown into one of the leading global life reinsurance
players, Scott has managed a strong team across all our markets," said Mr.
French. "We are very fortunate to have such an outstanding executive who is
helping strengthen and build our business in a number of areas."

Mr. Willkomm commented, "I am delighted to be given this opportunity to lead
Scottish Re as its CEO and appreciate the confidence that the Board has shown in
choosing me to follow Mike French in this position. Scottish Re has made great
strides in the past four years, achieving financial success and a market-leading
position. We have an impressive management team that is dedicated to building on
that success and I think that together we can achieve great things in the
future."

As President, Mr. Willkomm was responsible for the day-to-day business and
financial operations of Scottish Re. In addition, Mr. Willkomm focused on the
company's corporate development, strategic planning and corporate financing
initiatives. Prior to joining Scottish Re, Mr. Willkomm was an investment banker
specializing in insurance, banking and financial services. He was a Managing
Director with Prudential Securities Incorporated, and was responsible for that
firm's insurance investment banking activities. During his tenure with
Prudential Securities, Mr. Willkomm represented insurance and reinsurance
companies in connection with public and private offerings of equity and debt
securities, mergers and acquisitions and other strategic transactions. In
addition, he advised a number of clients in establishing reinsurance companies
in both life and property and casualty disciplines, including lead-managing the
company's initial public offering in November 1998.

Mr. Willkomm also worked as Senior Vice President with Oppenheimer & Co., Inc.
(now part of CIBC World Markets ) in that firm's Financial Institutions Group.
Before joining Oppenheimer in 1993, Mr. Willkomm was associated with First
Albany Corporation and Sandler O'Neill & Partners, L.P. Mr. Willkomm began his
Wall Street career in 1987 with Merrill Lynch & Co.'s Mergers and Acquisitions
Department. Mr. Willkomm is a 1987 graduate of Bowdoin College.

About Scottish Re

Scottish Re Group Limited is a global life reinsurance specialist. Scottish Re
has operating companies in Bermuda, Charlotte, North Carolina, Dublin, Ireland,
Grand Cayman, and Windsor, England. Its flagship operating subsidiaries include
Scottish Annuity & Life Insurance company (Cayman) Ltd. and Scottish Re (U.S.),
Inc., which are rated A- (excellent) by A.M. Best, A (strong) by Fitch Ratings,
A3 (good) by Moody's and A- (strong) by Standard & Poor's, Scottish Re Limited,
which is rated A- (excellent) by A.M. Best, A (strong) by Fitch Ratings and A-
(strong) by Standard & Poor's and Scottish Re Life Corporation, which is rated
A- (excellent) by A.M. Best. Additional information about Scottish Re Group
Limited can be obtained from its Web site, www.scottishre.com.