Malibu Life Holdings has signed an agreement to acquire TruSpire Retirement Insurance Company after its transition to an insurance holding entity.
TruSpire, which operates under the umbrella of Mutual of America Life Insurance Company, is a provider of life and retirement solutions in Texas, US.
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The company’s reach extends across 44 states and it has an approved Fixed Indexed Annuity (FIA) product, along with a network of independent agents.
The first FIA product from TruSpire is expected to be available to consumers in the first half of 2026.
Malibu Life Holdings plans to utilise TruSpire’s existing infrastructure to introduce further annuity products in subsequent years.
The acquisition also encompasses a reinsurer regulated in Bermuda, which Malibu Life Holdings aims to preserve and leverage for its expansion efforts.
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By GlobalDataThe agreed base purchase price for the acquisition stands at $45m, with the completion of the deal expected in early 2026, pending regulatory approvals.
This announcement follows a recent transaction where Third Point Investors acquired a complete equity interest in Malibu Life Reinsurance SPC from Malibu Life Holdings.
Malibu Life Holdings, listed on the London Stock Exchange, is known for its focus on the fixed annuity market in the US.
Third Point CEO and Malibu Life founder Daniel Loeb said: “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.”
Malibu Life Holdings is targeting an increase in annual premiums and return on equity.
This strategy is supported by its business model, operational scalability and a partnership with Third Point for investment management.
Malibu Life CEO Gary Dombowsky said: “By adding TruSpire’s direct origination capabilities, we are advancing a cornerstone of our business strategy and materially accelerating our path to achieving scale.
“As an FHLB [Federal Home Loan Bank] member, TruSpire also provides access to greater capital flexibility. In addition, the TruSpire team brings talent and experience across product and operations, and we look forward to welcoming them to Malibu Life.”
