EXHIBIT 23.2

                        CONSENT OF INDEPENDENT AUDITORS

We consent to the incorporation by reference of our report dated March 25, 1999,
with respect to the financial statements of Scottish Annuity & Life Holdings,
Ltd. for the period ended December 31, 1998 incorporated by reference in the
Current Report on Form 8-K/A dated December 31, 1999 of Scottish Annuity & Life
Holdings, Ltd. filed with the Securities and Exchange Commission.

                                        /s/ ERNST & YOUNG
                                        -----------------
                                          Ernst & Young
George Town, Grand Cayman
British West Indies
March 20, 2000