1. Name and Address of Reporting Person
   Scopes, Nik J.
   2nd Floor, 12/13 Exchange Place
   Dublin 1 Ireland
   Ireland
2. Date of Event Requiring Statement (Month/Day/Year)
   03/05/2002
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
   ESG Re Limited (ESREF)
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director                   ( ) 10% Owner
   (X) Officer (give title below) ( ) Other (specify below)
   Chief Underwriting Officer
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person

TABLE I -- Non-Derivative Securities Beneficially Owned

+------------------------------------------+----------------------+----------------+-----------------------------------------------+
|1. Title of Security                      |2. Amount of          |3. Ownership    |4. Nature of Indirect Beneficial Ownership     |
|                                          |   Securities         |   Form:        |                                               |
|                                          |   Beneficially Owned |   Direct(D) or |                                               |
|                                          |                      |   Indirect(I)  |                                               |
+------------------------------------------+----------------------+----------------+-----------------------------------------------+
                                                                           





TABLE II -- Derivative Securities Beneficially Owned

+-----------------------+---------------------+---------------------------------+----------+-------------+-------------------------+
|1.Title of Derivative  |2.Date Exercisable   |3.Title and Amount of Securities |4.Conver- |5.Ownership  |6. Nature of Indirect    |
|  Security             |  and Expiration Date|  Underlying Derivative          | sion or  | Form of     |   Beneficial Ownership  |
|                       |  (Month/Day/Year)   |  Security                       | Exercise | Derivative  |                         |
|                       +----------+----------+-----------------------+---------+ Price of | Security:   |                         |
|                       | Date     | Expira-  |                       |Amount or| Deri-    | Direct(D) or|                         |
|                       | Exer-    | tion     |         Title         |Number of| vative   | Indirect(I) |                         |
|                       | cisable  | Date     |                       |Shares   | Security |             |                         |
+-----------------------+----------+----------+-----------------------+---------+----------+-------------+-------------------------+
                                                                                     
Stock Options (Right to  02/16/2001 02/16/2011 Common Stock            7500      $2.38      D
buy)                 
Stock Options (Right to  04/28/2000 04/28/2010 Common Stock            3000      $3.9       D
buy)                 

Explanation of Responses:


Option awarded under Company's 1997 Stock Option Plan

This option becomes exercisable as follows:  25% on grant date and 25% on each
of the 2nd, 3rd and 4th anniversary dates of grant date



SIGNATURE OF REPORTING PERSON
/s/ Nik J. Scopes

DATE
03/11/2002