Bio

Liana-Marie Lien focuses on mergers and acquisitions and reinsurance involving financial institutions and insurance and reinsurance companies, both in the U.S. and internationally. 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:

  • XL Group Ltd. in its $15.3 billion acquisition by AXA SA;
  • Manulife Financial Corporation in 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, and approximately $4 billion of policy liabilities related to its legacy U.S. individual payout annuities to RGA Reinsurance Company;
  • Privilege Underwriters Inc. in its $3.1 billion sale to Tokio Marine Holdings, Inc.;
  • Massachusetts Mutual Life Insurance Company in the pending $2.35 billion sale of its retirement plan business to Empower Retirement;
  • Ameriprise Financial, Inc., as parent company of RiverSource Life Insurance Company, in its reinsurance transaction with Commonwealth Annuity and Life Insurance Company, a subsidiary of Global Atlantic Financial Group Limited, to reinsure $1.7 billion of fixed annuity policies;
  • American Financial Group in its:
    • $660 million going-private acquisition of National Interstate Corporation; and
    • $190 million dual-tranche catastrophe bond offering by Great American Insurance Company, a wholly owned subsidiary of American Financial Group, through its special purpose insurer, Riverfront Re Ltd.;
  • Citigroup Inc. in its:
    • sale of Financial Reassurance Company 2010, Ltd. (Bermuda) to a subsidiary of Munich Re; and
    • the transfer of a coinsurance agreement covering a block of term life insurance policies to a subsidiary of Swiss Re Life & Health America Inc. The transaction resulted in a reduction of US$2.5 billion of assets from Citi Holdings’ balance sheet;
  • Permira Funds in the $765 million sale of its portfolio company PHARMAQ Holding AS to Zoetis Inc.;
  • Highmark Inc. in its pending 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 establishment of a $160 million collateralized reinsurance program involving the formation of its special purpose insurer Limestone Re Ltd.; and
  • KPMG Corporate Finance LLC as a fairness opinion provider to American Family Insurance Mutual Holding Company in its merger with Main Street America Group Mutual Holdings, Inc.

Credentials

Education

  • J.D., Brooklyn Law School, 2015 (cum laude; Editor-in-Chief, Brooklyn Journal of Corporate Financial & Commercial Law)
  • B.S., Cornell University, 2009

Admissions

  • New York

Liana-Marie Lien

Associate, Financial Institutions; Mergers and Acquisitions
liana-marie.lien@skadden.com