Elena M. 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:

  • Manulife Financial Corporation in the reinsurance of substantially all of its legacy U.S. individual and group pay-out annuities businesses to RGA Reinsurance Company and Jackson National Life Insurance Company, respectively;
  • 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 pending $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 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 (since 2013) through the Women in the Law Empowerment Forum (East Coast Branch).



  • J.D., Stanford Law School, 2010 (Co-Editor-in-Chief, Journal of Civil Rights and Civil Liberties)
  • B.A., University of Virginia, 2007 (with highest distinction; Echols Scholar)


  • New York

Elena M. Coyle

Partner, Financial Institutions