Scottish Re

Scottish Re is a holding company based in Bermuda, operating through its subsidiaries in Bermuda, Ireland, and the United States. Specializing in the reinsurance of life insurance, annuities, and annuity-type products, the company's primary subsidiaries include Scottish Annuity & Life Insurance Company (Cayman) Ltd., Scottish Re (Dublin) Limited, and Scottish Re (U.S.), Inc. Founded in 1998, the company underwent a significant merger in 2011, following which it became a surviving entity with 100% ownership and control by affiliates of Cerberus Capital Management, L.P. and MassMutual Capital Partners LLC. The merger resulted in the cancellation of outstanding ordinary shares and the issuance of new ordinary shares to the investors, while the convertible cumulative participating preferred shares and non-cumulative perpetual preferred shares remained unaffected. This investment and restructuring align with Scottish Re's position in the insurance industry, solidifying its presence and strategic direction in the market.