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.

Notable transactions include representing:

• Principal Financial Group, Inc. in its:
  • $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
• XL Group Ltd. in its $15.3 billion acquisition by AXA SA
• 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.
• Massachusetts Mutual Life Insurance Company in the $2.35 billion sale of its retirement plan business to Empower Retirement
• 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

Ms. Lien is a Steering Committee member of Skadden’s Women’s Initiatives Network in New York.