Scottish Re Group Ltd (fka SKRRF)

[zino]

NEXT VSTNQ... SKRRF 10.56 EARNINGS P/SHARE TRADES AT 14 CENTS !!! http://www.snl.com/irweblinkx/file.aspx?IID=4021224&FID=9451272 net income attributable to ordinary shareholders of $2,305 million, or $10.56 per diluted ordinary share, as compared to a net loss attributable to ordinary shareholders of $2,710 million, or ($39.63) per diluted ordinary share, for the prior year period.

The net income attributable to ordinary shareholders for the year ended December 31, 2009 was driven primarily by the following significant one-time items:
-- A pre-tax gain of $704 million associated with the sale to Hannover
Ruckversicherung AG of a block of U.S. individual life reinsurance
business acquired by the Company from ING in 2004;
-- A $1,150 million gain generated by the de-consolidation of Ballantyne Re
plc from the Company's consolidated financial statements; and
-- A $254 million gain on the consolidation of the Stingray funding
arrangement following the Company's discounted purchases of a majority
of the outstanding Stingray pass-through certificates.


In addition, the Company had net realized and unrealized gains of $243 million resulting from an overall market recovery of fixed maturity investments