2nd Jul 2026 14:19
(Alliance News) - Malibu Life Holdings Ltd on Thursday said it has closed the acquisition of TruSpire Retirement Insurance Co, which will be rebranded as Malibu Life USA.
The Cayman Islands-based life and annuity reinsurance investor said the deal establishes Malibu Life USA as its US retail annuity origination engine.
The inaugural product launch for Malibu Life USA is planned for early-to-mid September.
"This is a defining moment for Malibu Life," said Chief Executive Officer Gary Dombowsky. "With the Malibu Life USA brand now in place, we are moving decisively from strategy into execution, supported by the operating platform, distribution access, regulatory footprint and product capabilities needed to establish Malibu USA as a powerful growth engine and an important new entrant in the retail annuity market."
Malibu Life said the deal gives it a US-domiciled insurance company with "broad state licensing, an approved fixed indexed annuity product, and access to the independent agent distribution channel".
After closing, Malibu Life USA will operate as its US retail brand, while the broader insurance strategy will continue to include reinsurance through its Cayman and Bermuda platforms.
Malibu Life said it expects the acquisition to "materially accelerate" its strategic plan by adding "direct issuance capabilities" alongside its existing reinsurance platform.
"By pairing Malibu Life USA's US origination capabilities with Malibu Life's capital management discipline and Third Point's institutional credit investment platform, the Company believes it is well positioned to build a differentiated annuity franchise focused on attractive spread income, prudent risk management and long-term book value," it said.
The financial details of the transaction were not disclosed.
Shares in Malibu Life were flat at USD16.20 on Thursday afternoon in London.
By Michael Hennessey, Alliance News reporter
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