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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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                                    FORM 8-K



                                 CURRENT REPORT
                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported): April 14, 2008

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                            SCOTTISH RE GROUP LIMITED
             (Exact name of registrant as specified in its charter)



       Cayman Islands                    001-16855                98-0362785
(State or Other Jurisdiction     (Commission File Number)      (I.R.S. Employer
      of Incorporation)                                      Identification No.)


                P.O. Box HM 2939
 Crown House, Second Floor, 4 Par-la-Ville Road
                 Hamilton HM12
                    Bermuda                                           N/A
    (Address of Principal Executive Offices)                      (Zip Code)

                                 (441) 295-4451
               Registrant's telephone number, including area code

                                       N/A
          (Former name or former address, if changed since last report)

         Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))






     Item 8.01. Other Events.

     Scottish Re Group Limited (the "Company") has determined that,  pursuant to
the  Certificate of  Designations  for its  Non-Cumulative  Perpetual  Preferred
Shares (the "Perpetual  Preferred  Shares"),  it may be precluded from declaring
and paying  dividends on the October 15, 2008  dividend  payment date. A copy of
the notice sent to the  holders of the  Perpetual  Preferred  Shares is attached
hereto as Exhibit 99.1.

     The Company is also announcing that, given the Company's  current financial
condition,  its  Board of  Directors,  in its  discretion,  has not and will not
declare a cash dividend on the Non-Cumulative Perpetual Preferred Shares for the
April 2008 payment date. The Board of Directors has not yet  determined  whether
the Company will pay a dividend on the Non-Cumulative Perpetual Preferred Shares
for the July 2008 payment date; however, based upon prevailing market conditions
and the current financial condition of the Company, it currently does not expect
to do so.


     Item 9.01. Financial Statements and Exhibits.


(c) Exhibits.


99.1  Notice to holders of Perpetual Preferred Shares, dated April 14, 2008.





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                                    SIGNATURE



     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, hereunto duly authorized.



                                    SCOTTISH RE GROUP LIMITED


                                    By: /s/ Paul Goldean
                                        -------------------------------
                                        Paul Goldean
                                        Chief Administrative Officer



Dated:  April 14, 2008





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                                INDEX TO EXHIBITS

Number    Description
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99.1      Notice to holders of Perpetual Preferred Shares, dated April 14, 2008.







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