Scott D. Avitabile

Scott D. Avitabile

Scott Avitabile has experience in mergers and acquisitions (M&A), securities offerings and alternate risk transfer transactions, including swaps and derivatives. Mr. Avitabile has advised issuers and underwriters in a variety of securities transactions, including offerings by life insurance companies and international banks. He recently represented Genworth Financial in each of the five separate structured securitizations sponsored by Genworth, each designed to relieve the reserve strain caused by Regulation XXX and Regulation AXXX totaling over $3 billion. Mr. Avitabile also advised Legal & General in two similar transactions totaling $1 billion. He advised UnumProvident Corp. in two securitization transactions of long term disability claims totaling over $1 billion. He also advised XL Capital Assurance in connection with a structured securitization of a closed block of insurance policies issued or reinsured by Swiss Re.

Mr. Avitabile recently advised Aegon N.V. in its $550 million securitization designed to relieve the reserve strain caused by Regulation XXX. Mr. Avitabile has represented Sun Life Assurance Company of Canada in a $600 million capital securities offering (hybrid subordinated debt), Jackson National Life Insurance Company in a $250 million surplus note offering and GE Financial Assurance in the restructuring of its life insurance subsidiaries. He also advised Banco Nacional de Mexico in the securitization and subsequent issuance of debt securities tied to credit card receivables totaling over $1 billion, as well as two payment rights securitizations totaling $400 million. Mr. Avitabile recently advised National Commercial Bank of Jamaica in a $175 million issuance of debt securities tied to credit card receivables.

Mr. Avitabile's M&A experience includes advising AEGON N.V. in its $1.2 billion merger with TransAmerica; Talegen Holdings, Inc. (the property and casualty holding company of Xerox) in the sale of Coregis Group for $450 million and Industrial Indemnity for $365 million; the sale by Sun Life of the US insurance operations of Clarica Life for $286 million, the $15 million recapitalization of a Texas County Mutual insurance company; and AEGON USA's $160 million sale of its Providian Auto and Home Insurance Company to Great American Insurance Company.

Mr. Avitabile has advised insurance companies and investment banks in structured derivative and insurance risk transfer transactions covering credit and other exposure totaling over $5 billion. Mr. Avitabile is currently representing several large international insurance companies and investment banks in connection with credit and weather derivatives and insurance-based risk transfer transactions.

Mr. Avitabile has been recognized as a leading insurance lawyer in the United States by Chambers USA (2006 and 2007).