Securities and Exchange Commission

                              Washington, DC 20549

                  Under the Securities and Exchange Act of 1934
                                  Schedule 13G

                         Global Crossing Holdings, Ltd.
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities )

                                    G3921A100
                                 (CUSIP NUMBER)

                    Date of Event which Requires this filing
                               February 14, 1999

     Check the Appropriate Box to designate the Rule pursuant to which this
                                schedule is filed:
                                    13d-1(d)


<PAGE>

1)         Name of Reporting Person:        Continental Casualty Company

           SS or IRS Identification         36-2114545
           Nos. of Above Persons:

2)         Check the Appropriate Box     (a)       (b) X
           If A Member of Group
           (See Instructions)

3)         SEC Use Only

4)         Citizenship or Place of Organization      Illinois

           Number of             (5)  Sole Voting               0
           Shares
           Beneficially Owned    (6)  Shared Voting             0
           by Each Reporting
           Person With:          (7)  Sole Dispositive Power    0

                                 (8)  Shared Dispositive Power: 0

9)         Aggregate Amount Beneficially
           Owned by Each Reporting Person                       0

10)        Check if the Aggregate Amount in Row (9)
           Excludes Certain Shares (See Instructions)           Yes

11)        Percent of Class
           Represented By Amount in Row 9                       0.0%

12)        Type of Reporting
           Person (See Instructions)                            IC

Under Illinois Law, assets owned by Continental  Casualty  Company,  an Illinois
insurance company, are solely under the control of the board of directors of the
insurer.  The  characterization of shared dispositive power with any other party
or beneficial  ownership is made solely as a consequence of SEC interpretations.
Continental  Casualty  Company,  Global  Crossing  Trust 1998,  Global  Crossing
Partners, and Hillel Weinberger, individually,  specifically disclaim beneficial
ownership of the  securities  identified  herein  owned by any other party.  The
parties to this  filing  specifically  disclaim  that they  operate as a "group"
within the meaning of the Securities Exchange Act of 1934.

<PAGE>


1)         Name of Reporting Person:        Global Crossing Trust 1998

           SS or IRS Identification         13-7143668                
           Nos. of Above Persons:

2)         Check the Appropriate Box     (a)       (b) X
           If A Member of Group
           (See Instructions)

3)         SEC Use Only

4)         Citizenship or Place of Organization      New York

           Number of             (5)  Sole Voting Power         0
           Shares
           Beneficially Owned    (6)  Shared Voting Power       0
           by Each Reporting
           Person With:          (7)  Sole Dispositive Power    0

                                 (8)  Shared Dispositive Power: 0

9)         Aggregate Amount Beneficially
           Owned by Each Reporting Person                       0

10)        Check if the Aggregate Amount in Row (9)
           Excludes Certain Shares (See Instructions)           Yes

11)        Percent of Class
           Represented By Amount in Row 9                       0.0%

12)        Type of Reporting
           Person (See Instructions)                            00

Under Illinois Law, assets owned by Continental  Casualty  Company,  an Illinois
insurance company, are solely under the control of the board of directors of the
insurer.  The  characterization of shared dispositive power with any other party
or beneficial  ownership is made solely as a consequence of SEC interpretations.
Continental  Casualty  Company,  Global  Crossing  Trust 1998,  Global  Crossing
Partners, and Hillel Weinberger, individually,  specifically disclaim beneficial
ownership of the  securities  identified  herein  owned by any other party.  The
parties to this  filing  specifically  disclaim  that they  operate as a "group"
within the meaning of the Securities Exchange Act of 1934.

<PAGE>



1)         Name of Reporting Person:        Global Crossing Partners

           SS or IRS Identification         ###-##-####
           Nos. of Above Persons:

2)         Check the Appropriate Box     (a)       (b) X
           If A Member of Group
           (See Instructions)

3)         SEC Use Only

4)         Citizenship or Place of Organization   New Jersey  

           Number of             (5)  Sole Voting Power         0
           Shares
           Beneficially Owned    (6)  Shared Voting Power       0
           by Each Reporting
           Person With:          (7)  Sole Dispositive Power    0

                                 (8)  Shared Dispositive Power: 0

9)         Aggregate Amount Beneficially
           Owned by Each Reporting Person                       0

10)        Check if the Aggregate Amount in Row (9)
           Excludes Certain Shares (See Instructions)           Yes

11)        Percent of Class
           Represented By Amount in Row 9                       0.0%

12)        Type of Reporting
           Person (See Instructions)                            PN

Under Illinois Law, assets owned by Continental  Casualty  Company,  an Illinois
insurance company, are solely under the control of the board of directors of the
insurer.  The  characterization of shared dispositive power with any other party
or beneficial  ownership is made solely as a consequence of SEC interpretations.
Continental  Casualty  Company,  Global  Crossing  Trust 1998,  Global  Crossing
Partners, and Hillel Weinberger, individually,  specifically disclaim beneficial
ownership of the  securities  identified  herein  owned by any other party.  The
parties to this  filing  specifically  disclaim  that they  operate as a "group"
within the meaning of the Securities Exchange Act of 1934.



<PAGE>




1)         Name of Reporting Person:        Hillel Weinberger

           SS or IRS Identification         ###-##-####
           Nos. of Above Persons:

2)         Check the Appropriate Box     (a)       (b) X
           If A Member of Group
           (See Instructions)

3)         SEC Use Only

4)         Citizenship or Place of Organization      United States

           Number of             (5)  Sole Voting               21,087,585
           Shares
           Beneficially Owned    (6)  Shared Voting             243,315
           by Each Reporting
           Person With:          (7)  Sole Dispositive Power    21,087,585

                                 (8)  Shared Dispositive Power: 243,315

9)         Aggregate Amount Beneficially
           Owned by Each Reporting Person                       21,330,900 

10)        Check if the Aggregate Amount in Row (9)
           Excludes Certain Shares (See Instructions)           

11)        Percent of Class
           Represented By Amount in Row 9                       10.4%

12)        Type of Reporting
           Person (See Instructions)                            IN

Under Illinois Law, assets owned by Continental  Casualty  Company,  an Illinois
insurance company, are solely under the control of the board of directors of the
insurer.  The  characterization of shared dispositive power with any other party
or beneficial  ownership is made solely as a consequence of SEC interpretations.
Continental  Casualty  Company,  Global  Crossing  Trust 1998,  Global  Crossing
Partners, and Hillel Weinberger, individually,  specifically disclaim beneficial
ownership of the  securities  identified  herein  owned by any other party.  The
parties to this  filing  specifically  disclaim  that they  operate as a "group"
within the meaning of the Securities Exchange Act of 1934.


<PAGE>

Item 1(a)  Name of Issuer.          Global Crossing Holdings Ltd.

Item 1(b)  Address of Issuer's Principal Executive Offices

                        Global Crossing Holdings Ltd.
                        Wessex House
                        45 Reed Street
                        Hamilton, 11M12
                        BERMUDA

Item 2(a)  Name of Persons Filing.          Continental Casualty Company
                                            Global Crossing Trust 1998
                                            Global Crossing Partners 
                                            Hillel Weinberger

Item 2(b)  Address of Principal Business Office:

           Continental Casualty Company - CNA Plaza, Chicago, Illinois 60685
           Global Crossing Trust 1998 - 667 Madison Avenue, New York, NY 10021
           Global Crossing Partners   - 667 Madison Avenue, New York, NY 10021
           Hillel Weinberger          - 667 Madison Avenue, New York, NY 10021


Item 2(c)  Citizenship:

           Continental Casualty Company - State of Illinois
           Global Crossing Trust 1998   - State of New York 
           Global Crossing Partners     - State of New Jersey
           Hillel Weinberger            - United States  


Item 2(d)  Title of Class of Securities

                                            Common Stock

Item 2(e)  CUSIP Number.                    G3921A100

Item 3.    The person filing this statement pursuant to Rule 13-1(b) or
           13d-2 are each:

           Inapplicable 


Item 4.     Ownership.

Under Illinois Law, assets owned by Continental  Casualty  Company,  an Illinois
insurance company, are solely under the control of the board of directors of the
insurer.  The  characterization of shared dispositive power with any other party
or beneficial  ownership is made solely as a consequence of SEC interpretations.
Continental  Casualty  Company,  Global  Crossing  Trust 1998,  Global  Crossing
Partners, and Hillel Weinberger, individually,  specifically disclaim beneficial
ownership of the  securities  identified  herein  owned by any other party.  The
parties to this  filing  specifically  disclaim  that they  operate as a "group"
within the meaning of the Securities Exchange Act of 1934.

                                 Continental  Global       Global
                                 Casualty     Crossing     Crossing  Hillel
                                 Company      Trust 1998   Partners  Weinberger

(a)   Amount Beneficially Owned: 0            0            0         21,330,900

(b)   Percent of Class           0.0%         0.0%         0.0%      10.4



<PAGE>


Item 4.

                                    Continental Global      Global     
                                    Casualty    Crossing    Crossing  Hillel  
                                    Company     Trust 1998  Partners  Weinberger


(c)   Number of shares as to which such person has:

     (i)   sole power to vote or
           to direct the vote       0           0           0         21,087,585


     (ii)  shared power to vote
           or to direct vote        0           0           0         243,315

    (iii)  sole power to dispose or
           to direct disposition of 0           0           0         21,087,585
     
     (iv)  shared power to dispose 
           or to direct disposition 0           0           0         243,315

As the trustee of the Trust holding  investment  authority for the trust assets,
and as manager of the  portfolio of  Continental  Casualty  Company  holding the
securities of the issuer, Mr. Weinberger is deemed,  under SEC  interpretations,
to have the sole power to vote and dispose of the  issuer's  securities  held by
those entities.

As one of two general  partners of the  Partnership,  Mr.  Weinberger is deemed,
under  SEC  interpretations,  to share  the  power to vote  and  dispose  of the
issuer's securities held by the Partnership.



Item 5.    Ownership of Five Percent or Less of a Class.

           Inapplicable.

Item 6.    Ownership of More than Five Percent on Behalf of Another Person.

           Inapplicable.

Item 7.    Identification and Classification of the Subsidiary which Acquired
           the Security Being Reported On By the Parent Holding Company.

           Inapplicable.

Item 8.    Identification and Classification of Members of the Group.

           Inapplicable.

Item 9.    Notice of Dissolution of the Group.

           Inapplicable.

<PAGE>

Item 10.   Certification of Continental Casualty Company.

By signing below I certify  that,  to the best of my knowledge  and belief,  the
securities  referred to above were  acquired in the ordinary  course of business
and were not  acquired for the purpose of and do not have the effect of changing
or  influencing  the  control  of the  issuer  of such  securities  and were not
acquired in connection with or as a participant in any transactions  having such
purposes or effect.

After reasonable  inquiry and to the best of my knowledge and believe, I certify
that the information set forth in this statement is true, complete and correct.


February 17, 1999
             Date

/s/ Jonathan D. Kantor
             Signature

Jonathan D. Kantor
Senior Vice President, Secretary and General Counsel


<PAGE>


Item 10.   Certification of Global Crossing Trust 1998.

By signing below I certify  that,  to the best of my knowledge  and belief,  the
securities  referred to above were  acquired in the ordinary  course of business
and were not  acquired for the purpose of and do not have the effect of changing
or  influencing  the  control  of the  issuer  of such  securities  and were not
acquired in connection with or as a participant in any transactions  having such
purposes or effect.

After reasonable  inquiry and to the best of my knowledge and believe, I certify
that the information set forth in this statement is true, complete and correct.

February 17, 1999
             Date

/s/ Hillel Weinberger
             Signature

Hillel Weinberger
Trustee


<PAGE>


Item 10.   Certification of Global Crossing Partners.

By signing below I certify  that,  to the best of my knowledge  and belief,  the
securities  referred to above were  acquired in the ordinary  course of business
and were not  acquired for the purpose of and do not have the effect of changing
or  influencing  the  control  of the  issuer  of such  securities  and were not
acquired in connection with or as a participant in any transactions  having such
purposes or effect.

After reasonable  inquiry and to the best of my knowledge and believe, I certify
that the information set forth in this statement is true, complete and correct.


February 17, 1999
             Date




/s/     Hillel Weinberger
             Signature

Hillel Weinberger
General Partner


<PAGE>


Item 10.   Certification of Hillel Weinberger.

By signing below I certify  that,  to the best of my knowledge  and belief,  the
securities  referred to above were  acquired in the ordinary  course of business
and were not  acquired for the purpose of and do not have the effect of changing
or  influencing  the  control  of the  issuer  of such  securities  and were not
acquired in connection with or as a participant in any transactions  having such
purposes or effect.

After reasonable  inquiry and to the best of my knowledge and believe, I certify
that the information set forth in this statement is true, complete and correct.


February 17, 1999
             Date

/s/ Hillel Weinberger
             Signature

Hillel Weinberger


<PAGE>


                                    Exhibit 1

Each of the  undersigned  hereby agrees that the Schedule 13G filed  herewith is
filed  jointly,  pursuant to Rule 13d-l(f) of the Securities and Exchange Act of
1934, as amended, on behalf of each of the undersigned.


CONTINENTAL CASUALTY COMPANY

/s/ Jonathan D. Kantor
             Signature

Jonathan D. Kantor
Senior Vice President, Secretary and General Counsel


GLOBAL CROSSING TRUST 1998

/s/ Hillel Weinberger
             Signature

Hillel Weinberger
Trustee


GLOBAL CROSSING PARTNERS

/s/ Hillel Weinberger
            Signature

Hillel Weinberger
General Partner


Hillel Weinberger, Individually

/s/ Hillel Weinberger
            Signature

Hillel Weinberger