Liana-Marie Lien

Ms. Lien has experience in a diverse range of corporate transactions in the insurance industry, including private and public acquisitions and divestitures, reinsurance transactions, capital-raising transactions and insurance regulatory matters. In recognition of her work, Ms. Lien was honored as one of Crain’s New York Business’ 40 Under 40 in 2026. She has also been ranked in Chambers USA’s Insurance: Transactional & Regulatory category and named to Lawdragon’s 500 X — The Next Generation list.

Notable transactions include representing:

• Principal Financial Group, Inc. in its:
  • pending acquisition of AI-driven insurtech platform Beam Benefits
  • $25 billion reinsurance transaction with Talcott Resolution to reinsure approximately $16 billion of in-force U.S. retail fixed annuity and $9 billion of in-force universal life insurance with secondary guarantee blocks of business
  • acquisition of Ascensus’ employee stock ownership plan business
• Massachusetts Mutual Life Insurance Company in:
  • its reinsurance transaction with Nationwide Mutual Insurance Company of a block of fixed universal life with secondary guarantees policies with a total face value of nearly $16 billion, representing nearly $6 billion of statutory reserves
  • the $2.35 billion sale of its retirement plan business to Empower Retirement
• XL Group Ltd. in its $15.3 billion acquisition by AXA SA
• Talcott Resolution Life Insurance Company in its $10 billion block reinsurance of U.S. retail variable annuity and rider reserves with MetLife, Inc.
• Apollo Global Management, Inc. in its $11 billion merger with Athene Holding Ltd.
• Ameriprise Financial, Inc. in an $8 billion annuity reinsurance transaction, and a prior $1.7 billion annuity reinsurance transaction, with subsidiaries of Global Atlantic
• Manulife Financial Corporation and its subsidiaries, including John Hancock, in a number of reinsurance transactions in which it ceded approximately:
  • $8 billion of policy liabilities related to its legacy U.S. group payout annuities to Jackson National Life Insurance Company
  • $4 billion of policy liabilities related to its legacy U.S. individual payout annuities to RGA Reinsurance Company
  • $3.4 billion of policy liabilities related to its legacy U.S. bank-owned life insurance business to Global Atlantic Financial Group
• American National Insurance Company, a subsidiary of Brookfield Wealth Solutions, in a number of transactions, including its $3.5 billion coinsurance transaction of a diversified block of life business to Reinsurance Group of America, Incorporated
• Privilege Underwriters Inc. in its $3.1 billion sale to Tokio Marine Holdings, Inc.
• The Travelers Companies, Inc. in the pending $2.4 billion sale of its Canadian business to Definity Financial Corporation
• Farm Bureau Property & Casualty Insurance Company and the Iowa Farm Bureau Federation in their $1.37 billion take-private transaction of FBL Financial Group, Inc.
• American Financial Group in its:
  • $660 million going-private acquisition of National Interstate Corporation
  • $190 million dual-tranche catastrophe bond offering by a subsidiary of American Financial Group through its special purpose insurer
• Citigroup Inc. in its:
  • sale of Financial Reassurance Company 2010, Ltd. (Bermuda) to a subsidiary of Munich Re
  • reinsurance transaction covering a block of term life insurance policies to a subsidiary of Swiss Re Life & Health America Inc, resulting in a reduction of $2.5 billion of assets from Citi Holdings’ balance sheet
• American International Group, Inc. in its strategic partnership with Stone Point Capital LLC to form an independent managing general agency to serve high-net-worth and ultra-high-net-worth markets
• Permira Funds in the $765 million sale of its portfolio company PHARMAQ Holding AS to Zoetis Inc.
• OneBeacon Insurance Group, a subsidiary of Intact Financial Corporation, in its loss portfolio transfer reinsurance transaction with the Medical Protective Company, a subsidiary of Berkshire Hathaway Inc.
• Highmark Inc. in its affiliation with HealthNow New York Inc., d/b/a/ Blue Cross Blue Shield of Western New York and Blue Shield of Northeastern New York
• NBIC Holdings, Inc., the parent company of Narragansett Bay Insurance Company, in its $250 million acquisition by Heritage Insurance Holdings, Inc.
• Liberty Mutual Insurance Company in the formation of its special purpose insurer Limestone Re Ltd. and establishing a $160 million collateralized reinsurance program