Elena Coyle focuses her practice in insurance mergers and acquisitions and reinsurance. Ms. Coyle advises on a diverse range of complex corporate transactions on behalf of insurers in the life, health and property/casualty markets, together with related regulatory representations.


Selected matters include:

  • Centene Corporation in its acquisition of the membership of NextLevel Health Partners, Inc., a health plan serving Medicaid members in Cook County, Illinois; 
  • Core Specialty Insurance Holdings, Inc. in its acquisition of the StarStone U.S. business from Enstar Group Limited and its initial formation and $610 million capital raise from SkyKnight Capital, Dragoneer Investment Group and Aquiline Capital Partners;
  • Liberty Mutual Insurance Company in its acquisition of the global surety and credit reinsurance operations of AmTrust Financial Services, Inc.;
  • Centene Corporation in its $17.3 billion merger with WellCare Health Plans, Inc.;
  • Ameriprise Financial, Inc., the parent company of RiverSource Life Insurance Company, in its reinsurance transaction with Commonwealth Annuity and Life Insurance Company;
  • Manulife Financial Corporation in reinsurance transactions in which it ceded approximately $8 billion of policy liabilities related to its legacy U.S. group pay-out annuities to Jackson National Life Insurance Company, and approximately $4 billion of policy liabilities related to its legacy U.S. individual pay-out annuities to RGA Reinsurance Company;
  • American International Group Inc. in its acquisition of Glatfelter Insurance Group;
  • Humana Inc. in its sale of KMG America Corporation to Continental General Insurance Company;
  • Express Scripts Holding Company in its $67 billion merger with Cigna Corporation;
  • Liberty Mutual Group Inc. in its $3.3 billion sale of Liberty Life Assurance Company of Boston, consisting of its group benefits and life and annuity businesses, to Lincoln Financial Group and Protective Life Insurance Company, respectively;
  • Liberty Mutual Group Inc. in its $3 billion acquisition of Ironshore Inc.;
  • Humana Inc. in its terminated $37 billion merger with Aetna Inc.;
  • John Hancock in a reinsurance transaction in which John Hancock ceded to New York Life Insurance Company a net 60 percent quota share of a closed block of approximately 1.3 million in-force participating life insurance policies written prior to John Hancock’s demutualization;
  • Liberty Mutual Insurance Company in an adverse development reinsurance transaction in which Liberty Mutual ceded to National Indemnity Company, a subsidiary of Berkshire Hathaway Inc., substantially all of Liberty Mutual’s U.S. workers compensation, asbestos and environmental liabilities with an aggregate limit of $6.5 billion;
  • State Farm in the $1.5 billion sale of its Canadian operations to Desjardins Group;
  • MassMutual Life Insurance Company in its $400 million acquisition of the retirement plans business of The Hartford Financial Services Group, Inc.;
  • Jackson National Life Insurance Company in its $663 million acquisition of the U.S. Admin Re business of Swiss Re;
  • Manulife Financial Corporation in the sale of its life retrocession business to Pacific Life Insurance Company;
  • a global financial services company in a settlement, effectuated through reinsurance, relating to residential mortgage-backed securities underwritten by various affiliates;
  • an international broker in insurance transactions with governmental sponsored entities to facilitate access to the global reinsurance market;
  • asset managers and other institutional and private investors in navigating the state-by-state requirements applicable to acquiring positions in insurance holding companies and their regulated subsidiaries; and
  • industry clients on regulatory compliance matters, including responses to investigations and market conduct examinations.

Ms. Coyle was selected for inclusion in Chambers USA 2020. She also is active in pro bono asylum matters, gaining asylum for clients and their family members on grounds of religious and political persecution, as well as in professional women’s initiatives, including through the Women in the Law Empowerment Forum.



  • J.D., Stanford Law School (Co-Editor-in-Chief, Journal of Civil Rights and Civil Liberties)
  • B.A., University of Virginia (with highest distinction; Echols Scholar)


  • New York

Elena M. Coyle

Partner, Financial Institutions