-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DDkXtj2p9gZIFusA4joarlfOgBILe4QgoOUWSfp8sb6I/Qxyr/SKRS7apvYZjP53
 CQxnBtlO6fr53T07NlcceA==

<SEC-DOCUMENT>0000898080-03-000545.txt : 20031112
<SEC-HEADER>0000898080-03-000545.hdr.sgml : 20031112
<ACCEPTANCE-DATETIME>20031112164902
ACCESSION NUMBER:		0000898080-03-000545
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031111
FILED AS OF DATE:		20031112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CHMELY ROBERT M
		CENTRAL INDEX KEY:			0001135033

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16855
		FILM NUMBER:		03994487

	BUSINESS ADDRESS:	
		STREET 1:		10657 APO GRAND CAYMEN
		STREET 2:		CAYMEN ISLANDS BWI

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SCOTTISH RE GROUP LTD
		CENTRAL INDEX KEY:			0001064122
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		GRAND PAVILION COMMERCIAL CENTRE
		STREET 2:		802 WEST BAY RD GEORGE TOWN GRAND CAYMAN
		CITY:			GRAND CAYMAN CAYMAN
		STATE:			E9
		ZIP:			00000
		BUSINESS PHONE:		3459492800

	MAIL ADDRESS:	
		STREET 1:		P O BOX HM 2939
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM MX

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCOTTISH LIFE HOLDINGS LTD
		DATE OF NAME CHANGE:	19980615
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar612_4275form4ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-11-11</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001064122</issuerCik>
        <issuerName>SCOTTISH RE GROUP LTD</issuerName>
        <issuerTradingSymbol>SCT</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001135033</rptOwnerCik>
            <rptOwnerName>CHMELY ROBERT M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10657 APO GRAND CAYMEN</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CAYMEN ISLANDS BWI</rptOwnerCity>
            <rptOwnerState>E9</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Ordinary Shares</value>
      </securityTitle>
      <transactionDate>
         <value>2003-11-11</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>P</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>500</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>20.220</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>5200</value>
            <footnoteId id="F1"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>By Spouse</value>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
 </nonDerivativeTable>
   <footnotes>
      <footnote id="F1"> *Includes 4,700 ordinary shares directly owned by Robert M. Chmely.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Paul Goldean for Robert M. Chmely</signatureName>
      <signatureDate>2003-11-12</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----