Exhibit 23.2



The Board of Directors
Annuity and Life Re (Holdings), Ltd.


We consent to the incorporation by reference in the registration statement on
Form S-8 (File No. 333-76229) of Annuity and Life Re (Holdings), Ltd. of our
report dated March 5, 2004 with respect to the consolidated balance sheet of
Annuity and Life Re (Holdings), Ltd. and subsidiaries as of December 31, 2003,
and the related consolidated statements of operations, comprehensive loss,
changes in stockholders' equity and cash flows for each of the years in the
two-year period ended December 31, 2003 and the accompanying financial statement
schedule as of December 31, 2003 and for each of the years in the two-year
period ended December 31, 2003, which report appears in the December 31, 2004
Form 10-K of Annuity and Life Re (Holdings), Ltd.

Our report contains an explanatory paragraph that states that the consolidated
financial statements and financial statement schedule for the years ended
December 31, 2003 and 2002 have been prepared assuming that the Company will
continue as a going concern. As discussed in Note 3 to the consolidated
financial statements, the Company has suffered significant losses from
operations and experienced liquidity demands that raise substantial doubt about
its ability to continue as a going concern. Management's plans with regard to
these matters are also described in Note 3. The consolidated financial
statements and financial statement schedule do not include any adjustments that
might result from the outcome of this uncertainty.


KPMG




Chartered Accountants
Hamilton, Bermuda
March 31, 2005