Tim Scott

tim.scott@lw.com

+44.20.7710.3032

Profile

Tim Scott is a counsel in the London office of Latham & Watkins, specializing in corporate and transactional work in the insurance sector. With over 20 years’ experience in the insurance sector, Tim has played a leading role in shaping the insurance regulatory landscape in the UK.

Prior to joining Latham, Tim was a Senior Legal Counsel at the Bank of England / PRA for over a decade, where he had a leading role in Solvency II and insurer resolution. There he gained insight into the approach taken by the regulator when determining key applications during that period, particularly in relation to restructured matching adjustment assets and internal model approvals.

Insurance sector mergers & acquisitions
Reinsurance and collateral arrangements
Asset structuring for prudential purposes under Solvency II and other regimes
Insurer insolvency and resolution
Corporate reorganizations

Experience

Tim's experience includes advising:

CVC on the sale of its 90.01% stake in Ethniki Insurance, a major composite insurer in the Greek market, to Piraeus Bank
Onex Partners on its acquisition of Accredited Insurance, a hybrid fronting insurer operating across the US, EU and UK, from the joint provisional liquidators of R&Q (Bermuda), and simultaneous LPT/ADC reinsurance arrangements with Enstar
A major structured finance creditor, on the insolvency of FWU Life Insurance Luxembourg
Underwriters on the IPO of Aspen Insurance
Various Bermuda reinsurers owned by a private capital firm, on life reinsurance blocks from cedents in the US, EU and Asia
A private capital firm on asset structuring solutions for affiliated Bermuda reinsurers
A family office on its investment in a Bermuda sidecar
Investors in relation to various sidecar and ILS-fund investments
Zimmer Financial Services Group on the sale of its specialty legacy insurance provider, Carrick Specialty Holding
An insurer on multiple deals involving unfunded credit protection to support a funded investor in bank SRT issuances
An asset manager in relation to asset structuring for Solvency II firms as investors
FIS Global on the non-US carve-out of Worldpay (as part of its majority stake sale to GTCR)
Prudential plc (now M&G plc), then one of the two UK G-SIIs, on its recovery and resolution planning*
Underwriters on the IPO of Brit plc*
Royal London on the issuance of £400 million fixed rate reset callable guaranteed subordinated notes*
Societe Generale on various proposed value in force (or VIF) securitization transactions*
Credit Suisse on the first longevity swap from a defined-benefits pension scheme (Babcock)*
AXA on the creation of the UK’s second-ever ISPV, and associated reinsurance arrangements*
Legal & General on the creation of the UK’s first-ever ISPV, and associated reinsurance arrangements*