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Ling Ling

Partner
Global Co-Head, Insurance
Deputy Practice Group Leader of the Eversheds Sutherland (US) Insurance team

Ling Ling represents strategic and private equity-owned insurers and other financial services companies in their transformative transactions in the insurance space and in insurance capital management and regulatory compliance matters.

Ling plans and negotiates significant insurance company mergers, acquisitions and complex reinsurance transactions.

She is ranked by Chambers and has served four years on Eversheds Sutherland (US)’s Executive Committee and is the Deputy Practice Group Leader of the firm’s Insurance Transactions and Products Group.

Ling represents large US and global insurers and private equity funds in their acquisitions, dispositions and investments with a focus on the life and annuity industry. With an extensive background and deep understanding in insurance, reinsurance, reserve financing and pension risk transfer matters, Ling routinely represents insurers in their large transactions involving complex or unique collateral arrangements or structures, assists insurers in managing their long-term credit exposure such as using assumption reinsurance, division or insurance business transfer statutes, and advises on asset management issues involving various structured classes of assets, fee structures and hedges in a reinsurance context or otherwise.

She is also well versed in working with private equity funds in their investments in insurers or insurance assets, including regulatory requirements affecting the PE owners, their equity and debt financing needs, and formation of offshore platforms and joint ventures with third-party capital,

In insurance regulatory matters, Ling advises on division and insurance business transfer laws, risk transfer, reinsurance credit and certified reinsurer and reciprocal jurisdiction matters, insurance holding company act issues, affiliate transaction filings, insurer capital requirements, change of control, redomestication and captive regulations.

  • Represented Talcott Life in its reinsurance of a $7 billion variable annuity block from Guardian Life.
  • Represented Horace Mann in its acquisition of Madison National Life Insurance Company.
  • Represented Empower in its acquisition of MassMutual’s retirement services business for a total transaction value of $3.35 billion.
  • Represented Coventry Capital US LLC in its acquisition of North American Insurance Company through two family trusts.
  • Represented Santander (UK) Group Pension Scheme Trustees Limited and Santander UK plc in the pension liability transfer of their five pension sections through an intermediated reinsurance transaction involving Zurich Assurance and Prudential Financial.
  • Represented Horace Mann in its acquisition of Madison National Life Insurance Company, acquisition of National Teachers Associate, and reinsurance of an inforce block of annuity business to RGA with approximately $2.8 billion in statutory reserves transfer.
  • Represented Talcott Resolution in its flow reinsurance of Lincoln National’s variable annuity business.
  • Represented MassMutual in its various reinsurance transactions of inforce and new business to Global Atlantic, SCOR, RGA and Athene, and a sale of a block of life business to Wilton Re with the transfer of administration.
  • Led the $35 billion reinsurance transaction by Allianz SE of Allianz Life’s inforce fixed annuity business to a consortium consisting of Sixth Street Partners and Resolution Life.
  • Represented MassMutual on reinsurance transactions with RGA, SCOR and Athene.
  • Represented Pension Insurance Corporation in its longevity reinsurance transaction with an affiliate of AIG.
  • Represented Voya Financial in its sale of individual life and annuity business, including Security Life of Denver, to Resolution Life Group Holdings.
  • Represented Phoenix Life Limited in its longevity reinsurance transaction with Prudential.
  • Served as insurance regulatory counsel to Further Global in its acquisition of Global Benefits Group, Inc.
  • Represented Horace Mann in its acquisition of Benefits Consultants Group, a retirement services and products company.
  • Represented Allianz Life in its reinsurance with Hannover and RGA of new or inforce annuity business.
  • Represented Brighthouse Financial and National Life in their various reinsurance transactions involving inforce business or newly issued annuity business.
  • Acted as insurance regulatory counsel to Centre Partners in connection with the sale of USRP Holdings, Inc. to Kohlberg & Company.
  • Represented RGA in its acquisition of an in force annuity block from a mutual company, with approximately $1.2 billion in statutory reserves transfer.
  • Represented Allianz SE on a strategic joint venture in Bermuda with Enstar and Hillhouse Capital Management, involving a total capital commitment of $550 million, with follow-on restructuring and changes in ownerships.
  • Advised GIC, the sovereign wealth fund of Singapore, on its investments through strategic partnerships or direct investments in financial services companies.
  • Represented Voya Financial in its sale through novation of an existing Ballantyne Re block to Swiss Re.
  • Represented Horace Mann in its reinsurance of an inforce block of annuity business to RGA with approximately $2.8 billion in statutory reserves transfer.
  • Represented Horace Mann in its $405 million acquisition of National Teachers Associates.
  • Represented Voya Financial in its acquisition of PenCal Administrators, Inc., a retirement services provider.
  • Represented Wilton Re in its acquisition of Continental Assurance Company from CNA Financial Corporation and various other blocks of insurance policies from sellers.
  • Represented Voya Financial in its sale of blocks of life business to Reinsurance Group of America and in Voya Financial’s various reserve financing transactions.
  • Represented Scottish Widows in its pension risk longevity reinsurance transaction with Prudential Insurance Company.
  • Represented a private equity investor in its acquisition of shares of OneMain Financial.
  • Represented MassMutual in its reinsurance programs and sale of a block of life business to Wilton Re with the transfer of administration.
  • Represented Lincoln Financial Group in its acquisition of John Alden Life Insurance Company's employer medical stop-loss business for $41.5 million.
  • Represented ING America in the sale of its medical stop-loss business to Safeco Life Insurance Company for $32 million.
  • Represented ING America in the sale of its individual life reinsurance business to Scottish Re for a “negative ceding commission” of $610 million.
  • Massachusetts Mutual Life Insurance Company in its reinsurance of a block of individual life insurance policies to Wilton Re.
  • Voya Financial in its transfer of two separate blocks of term life insurance business (representing insurance in force of more than $200 billion) to Reinsurance Group of America through separate market processes including numerous potential bidders.
  • Represented an insurance department in its review and approval of an AG 48 compliant reserve financing transaction.
  • Represented Allied Capital Corporation in its sale of Advantage Sales & Marketing to an entity formed by J.W. Childs and Merrill Lynch for approximately $1.1 billion.
  • Represented PetroChina International America in its evaluation, joint venture and acquisition of assets in the United States.
  • Represented Lincoln Financial Group in its sale of life reinsurance business to Swiss Re Life & Health America Inc. for $2 billion.
  • Represented National Life in a regulatory closed block reinsurance transaction supported by surplus note issuance and newly issued corporate notes.
  • Voya Financial in its reserve financing transactions involving funded and unfunded note-for-note exchange, bilateral syndicated letters of credit, and trust note structures.
  • Represented an insurance department in its review and approval of an AG 48 compliant reserve financing transaction.
  • Represented Allianz in its reinsurance of newly issued fixed indexed annuities to a Bermuda reinsurer and in several reinsurance programs with Reinsurance Group of America and Hannover Re.
  • Represented Unum Group in its acquisition of Starmount Life Insurance Company and affiliates.
  • Represented Ameritas Life Insurance Corp. in its acquisition of a block of 401(k) business from The Guardian Insurance & Annuity Company, Inc.
  • Recognized by The Legal 500 United States in the area of insurance: non-contentious (2015, 2018, 2020-2023)
  • Recognized by Chambers USA: Guide to Leading Business Lawyers in the area of insurance: transactional and regulatory (2021-2023)
  • Member, Business Section, American Bar Association
  • Member, Association of Life Insurance Counsel (ALIC)
  • Member, National Asian Pacific American Bar Association
  • District of Columbia
  • New York
  • J.D., with honors, University of North Carolina School of Law,

    Member, North Carolina Law Review, Order of the Coif

  • B.A., Shanghai International Studies University
Ling Ling

Partner

Global Co-Head, Insurance
Deputy Practice Group Leader of the Eversheds Sutherland (US) Insurance team

Ling Ling

Partner

Global Co-Head, Insurance
Deputy Practice Group Leader of the Eversheds Sutherland (US) Insurance team

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