(Bloomberg) ? Scottish Re Group Ltd., whose shares fell 75 percent after it released a forecast and announced its chief executive officer resigned, said its second-quarter operating loss was $130.3 million.

On July 31, Scottish said it expected to report a $130 million operating loss. The net loss for the period was $123.9 million, or $2.31 a share, compared with a profit of $1.6 million, or 3 cents, a year earlier, Hamilton, Bermuda-based Scottish Re said in a statement sent by Business Wire.

The second-quarter loss is linked to a writedown of about $112 million in tax benefits generated from previous losses, Scottish Re said. Earlier this week, it said second-quarter net income would be lower than previously forecast, without providing any figures, and said CEO Scott Willkomm resigned. ?The results for the quarter are a sharp departure from our original projections and estimates provided to our stakeholders,? interim CEO Paul Goldean said in the statement.