Scottish Re Announces Sale of ING Individual Life Reinsurance Business to Hannover Re

Scottish Re originally had targeted a sale of its entire North American Segment, but following the historic disruption in the financial markets in late September, it was unable to consummate such a transaction. In an effort to find ways to address its acute capital, liquidity and collateral needs and to allay concerns of its regulators, Scottish Re pursued the sale of a specific block of individual life reinsurance in its North America Segment.

http://www.insurancebroadcasting.com/insurance-news-012609-3.htm