Earl Zimmerman, a member of Sutherland’s Corporate Practice Group, joined the Board of Directors of the New York City College of Technology Foundation in March 2012. Mr. Zimmerman advises clients on mergers and acquisitions and securities transactions, insurance linked trades (ILTs), and distressed insurance situations.
His significant experience with mergers, acquisitions and securities includes stock acquisitions, mergers, acquisitions of blocks of business using indemnity reinsurance and/or assumption reinsurance, credit for reinsurance (Regulation 114 trusts, letters of credit, fund withheld), Uniform Commercial Code (UCC) and common law insurance collateral arrangements, servicing arrangements, joint ventures, acquisition financings, surplus note offerings, Regulation 144A and Regulation S offerings, NYSE listed offerings, European listed offerings, captive insurance companies, directors’ and officers’ (D&O) insurance, and errors and omissions (E&O) coverage.
Mr. Zimmerman also has substantial experience with innovative ILTs, such as catastrophe (CAT) bonds and swaps, triple-X securitizations, life settlement securitizations, life settlements, premium finance, single premium immediate annuities (SPIAs), reinsurance of variable life insurance and variable annuities, guaranteed minimum death benefits, other separate account and segregated cell products, bank-owned life insurance (BOLI), corporate-owned life insurance (COLI), stable value products, financial guaranty insurance, mortgage insurance, mortality and life swaps, analyzing whether derivatives constitute insurance, insurable interest opinions, trade credit insurance, political risk insurance, tax credit insurance, and climate change-related insurance.
His work also has provided numerous opportunities for him to advise clients in distressed insurance situations concerning acquisitions of books of business from insolvent insurers, restructuring of insurance-linked securities (ILS) transactions when the cedent is close to insolvency, restructuring of wrapped debt, distressed debt trading of claims against insolvent insurers, reinsurance commutations and enterprise risk management (ERM).
He has lectured internationally on transferring credit risk through insurance and reinsurance, securitization of insurance and reinsurance products and risks, “cut-through” clauses, and mergers and acquisition issues.
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