NEW YORK (Bloomberg) — Bermuda-based Scottish Re Group Inc., the reinsurer bailed out by a buyout group last year, will delay the filing of its annual report.

The report will probably be completed by April 1, the company said on Friday in a statement distributed by Business Wire.

Last month Scottish Re said it may sell its international life reinsurance and wealth management units, and plans to cut costs after suffering mortgage-related losses and a credit rating downgrade.