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Scottish Annuity Reports Higher 1st Quarter Net

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NU Online News Service, May 8, 2:34 p.m. – Scottish Annuity & Life Holdings Ltd., Hamilton, Bermuda, is reporting $5 million in net income for the first quarter on $54 million in revenue, up from $3.7 million in net income on $22 million in revenue for the first quarter of 2001.

The reinsurer earned more during the quarter in part because of World-Wide Holdings Ltd., a reinsurance company it acquired from Pacific Life Insurance Company, Newport Beach, Calif.