Malibu Life Holdings has entered into a definitive agreement to acquire TruSpire Retirement Insurance Company, marking its first major transaction since relaunching as an insurance holding company.
The deal positions Malibu Life to begin issuing annuities directly, with plans to enter the market as early as the first half of 2026.
TruSpire, currently a wholly owned subsidiary of Mutual of America Life Insurance Company, is licensed in 44 states and holds an AM Best B++ rating. The company has an approved fixed indexed annuity (FIA) product and distributes through the independent agent channel.
Malibu Life expects TruSpire’s initial FIA product to launch in the first half of 2026, with additional FIA and multi-year guaranteed annuity products planned for 2027 and beyond.
The acquisition also includes a Bermuda-regulated reinsurer, which Malibu Life intends to maintain for future growth. The company said this structure will support its expansion plans and provide additional flexibility.
“The acquisition of TruSpire meaningfully accelerates our growth plan and offers an opportunity to design annuity products that will allow Malibu Life to fully benefit from Third Point’s robust credit asset management platform,” said Daniel S. Loeb (pictured above, left), founder of Malibu Life and CEO of Third Point LLC.
Loeb noted that the transaction supports Malibu Life’s strategy of leveraging asset management expertise to enhance product offerings.
“The acquisition will ensure greater control over policy pricing and terms and help drive enhanced investment returns. As an FHLB member, TruSpire also provides access to greater capital flexibility,” said Gary Dombowsky (pictured above, right), CEO of Malibu Life.
Malibu Life also recently completed a significant transaction with Third Point Investors, which acquired all equity interests in Malibu Life Reinsurance SPC from Malibu Life Holdings LLC.
This move has established a fully capitalized reinsurance operating company listed in London, opening access to the US annuity market and expanding Malibu Life’s reach.
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